themabtrader

Wednesday 10 June

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<< Tue 9 June

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Thu 11 June >>

End of Day Review

+2.88%

4 trades taken.

2 winners, 1 losers, 1 break even.

15:59

REVFIB + H4 midline | Buy | +1.86R

Price formed a Double Bottom during my previous trade, so I was on the lookout for a Reversal. I noted an Inverse Head and Shoulder pattern (although haven’t marked this up on the chart) with the Head at the double bottom, the left shoulder supported by the H4 and M30 midline, and expected the right should to form at the same level.

I waited for the M5 MAB to take place, price dropped, however I will still very hesitant to enter. The two long wicks that formed below the H4 midline signalled to me that there was support, along with a bull candle, and so when price came back down to the H4 midline I was ready and entered the trade.

15:27

breakeven M1 MAB | Sell | +0.06R

This was a Low Probability M1 MAB, however after the H4 + H1 MAB at the Open earlier, price had been particularly bearish, and so I decided to enter the trade, expecting price to make a push for Yes. Low.

The support price found at the level of Point B of the trade, shown by the long wicks, made me doubt that price would reach Yes. Low, so I moved my Stop Loss to breakeven to cover myself. At this point I should have also closed out the trade for between 1 and 1.5R profit, however due to the percieved bearish nature of the market, I decided to let the trade run, knowing I was breakeven as a fallback.

13:17

M1 MAB | Buy | +2.00R

The trade is difficult to see from this screenshot due to the battle taking place, once again between the D1 12615 and KS 12604 level.

A break above the D1 EQZ signalled that Bulls had control and I anticipated a move up to the H1 and H4 moving averages.

A micro-M1 MAB formed, and I entered the trade.

12:49

failed M15 MAB | Sell | -1.05R

The idea here was that price would bounce off the 15min moving average and move down to form an M5 MAB before moving back up towards the H1 and H4 emas, which occured in a similar pattern yesterday.

I entered a Sell trade at the 15min ema, and you can see from my screenshot that I was preparing for the M5 MAB, however this did not work out.

12:20

Morning Session Analysis

Tuesday 9 June

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<< Mon 8 June

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Wed 10 June >>

End of Day Review

+0.32%

2 trades taken.

1 winner, 1 loser, 0 break even.

13:03

potential M5 MAB | Buy

10:49

failed REVFIB | Buy | -1.01R

10:28

M5 MAB | Sell | +1.37R

Sold the M5 MAB at the H4 EQZ (12615) down to the resistance at the D1 EQZ (12577). From the screenshot you can see that I entered a Buy trade at the D1 EQZ as I believed this was a REVFIB and we could now see price rise.

09:59

potential REVFIB | Buy

09:03

upcoming M5 MAB Sell into REVFIB Buy?

Tuesday 2 June

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<< Mon 1 June

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Wed 3 June >>

End of Day Review

-1.00%

1 trade taken.

0 winners, 1 loser, 0 break even.

10:25

failed M1 MAB | Sell | -1.00R

After identifying a 5-Wick Reversal at the sessions high, I was looking for selling trades. Price made an impulsive move down through the M30 EQZ midline (11967), the Key Structure level at 11962 and through the 5min ema, and so I felt a sell trade was on, with price moving toward the bottom of the M30 EQZ and Yes. High.

Monday 1 June

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<< May 2020

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Tue 2 June >>

End of Day Review

+1.99%

1 trades taken.

1 winner, 0 losers, 0 break even.

I’m really pleased with my read of the market, mark up and execution of the trade today.

After interaction with the D1 EQZ key level at 11693 and fell back down towards my entry, I was cursing myself for not taking the +1.5R that was on offer,  however I held on and trusted my instinct that price was going to head up to the 1hour ema, sitting just above my profit target.

The H1 MAB pushed price back down for a short time, but the H4 EQZ midline at 11663 maintained support, and price began to rise, up, up and up!

In hindsight, and in my dreams, this was a trade I would have loved to ride all the way up to the top, however I’m happy with the 2R profit realised from this trade. I didn’t trade the afternoon session so missed all of the later action.

22:00

The Day’s Price Action

10:01

Reversal FIBCON | Buy | +2.05R

June 2020

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<< May 2020

July 2020 >>

June 2020

SMTWTFS
31123456
78910111213
14151617181920
21222324252627
2829301234

End of Month Review

+4.52%

34 trades taken.

12 winners, 18 losers, 4 break even.

% Winners – 35.29%

WNTA Losers: 10

82.03% -> 86.55%

End of Week Review 22-26

+2.85%

6 trades taken.

3 winners, 3 losers, 0 break even.

% Winners – 50%

WNTA Losers: 1

83.69% -> 86.55%

Winners

M1 MAB | Sell | +1.76R
M5 MAB + H1 MAB | Sell | +1.99R
M5 MAB | Sell | +2.10R
Losers

failed M5 MAB | Buy | -1.00R
failed M5 MAB | Sell | -1.02R
failed H1 MAB | Sell | -1.03R

End of Week Review 15-19

+0.44%

11 trades taken.

3 winners, 5 losers, 3 break even.

% Winners – 27.27%

WNTA Losers: 4

83.26% -> 83.69%

Winners
breakeven REVFIB/FIBCON | Sell | +0.04R
FIBCON | Buy | +2.51R
M1 MAB | Buy | +0.98R
M5 MAB | Buy | +1.80R
breakeven REVFIB | Sell | +0.03R
breakeven M5 MAB | Sell | +0.01R
Losers
failed M30 MAB | Sell | -1.00R
failed REVFIB | Sell | -1.00R
failed micro-FIBCON | Sell | -1.05R
failed FIBCON | Sell | -1.00R
failed M5 MAB | Sell | -0.96R

End of Week Review 8-12

+0.24%

15 trades taken.

5 winners, 9 losers, 1 break even.

% Winners – 33.33%

WNTA Losers: 5

83.01% -> 83.26%

This weeks results have been tarnished by one particularly bad afternoon of trading, where I let emotion get the better of me; had I been more discplined this could have turned out to be my best week so far this year. Despite this, the way things have been going the last couple of months, I’m still happy to be ending the week in the green, with some profits however small.

The breakdown of this weeks trades are as follows:

Winners: 2 M5 MABs, 2 M1 MABS and 1 REVFIB.

Losers: 4 failed M1 MABs, 3 failed REVFIBs, 1 failed M15 MAB and 1 failed M5 MAB.

Of the losers, 5 were WNTA trades, 2 I am undecided on, and 2 were WTA trades. Cutting out WNTA trades would have seen a Win% of 50.0%.

The majority of my losing trades this week were M1 MABs and REVFIBs. I got caught up in Low Probability M1 MABs, and I was looking too hard for REVFIBs. The one winning REVFIB trade had good markup in the build up and good confluence to support the trade.

The failed M15 MAB was due to a higher timeframe H1 MAB set up being present, which made the M15 MAB Low Probability.

The M5 MAB failed due to poor Stop Loss placement, however the read of the market for the trade was decent and I ended up getting onto the same trade minutes later for a good profit.

I kept all of my losers to -1R, and all of my winners were +1R and up, which is what I am looking to see.

Winners
M5 MAB | Sell | +1.37R
M1 MAB | Buy | +2.00R
REVFIB + H4 midline | Buy | +1.86R
M1 MAB | Sell | +0.99R
M5 MAB | Sell | +2.93R
Losers
failed M1 MAB | Sell | -1.01R
failed M1 MAB | Sell | -1.00R
failed REVFIB | Buy | -1.01R
failed M15 MAB | Sell | -1.05R
failed REVFIB | Buy | -1.00R
failed M1 MAB | Sell | -1.00R
failed REVFIB | Buy | -1.00R
failed M1 MAB | Buy | -0.98R
failed M5 MAB | Sell | -1.02R

End of Week Review 1-5

+0.98%

2 trades taken.

1 winner, 1 loser, 0 break even.

%Winners – 50.0%

82.03% -> 83.01%

Friday 29 May

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<< Thu 28 May

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June 2020 >>

End of Day Review

-1.03%

1 trade taken.

0 winners, 1 loser, 0 break even.

11:39

failed H1 MAB | Sell | -1.04R

11:27

Morning Analysis

A couple of trades here that had good potential this morning.

I’m currently marking out the potential for a Reversal FIBCON with price ranging between the Open and the 11571 Key Structure level. I passed on the low probability M1 MAB, I’m expecting price to find support at the M5 MAB and then form a Reversal FIBCON moving back down into the range.