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End of Day Review
Monday 11 November 2019
End of Day Review
+3.66R
The set up and Role Reversal structure was very good for this trade, enough to convince me to enter the trade. The bullish candle that pushed price back up through the 1min ema made me wary, and so I moved my profit target to break even and took myself out of the trade.
I don’t want to get too confident after the last trade, and with the D1 EQZ so close by I feel I should be more cautious.
I manually closed out the trade for a +3.85R profit as price moved very close to my 4R target. I didn’t know if price would touch the D1 EQZ before moving back up, so felt that closing manually at slightly below my target was the best option.
I’m very happy with my entry, trade management and read of the market to get the most out of this move.
I entered the trade at the 5min ema, and set a couple of LiP levels to cover myself. I had to resist the urge to close out the trade as price rose back up to the GZ after narrowly missing the LiP1 trigger.
I’m aiming for a move down to the D1 EQZ at 13167.33, to give me a +4R profit.
A decent 1min MAB formed here, however I passed on it as I was waiting for a higher timeframe confluence with the 5min ema and/or 15min ema.
Friday 08 November 2019
End of Day Review
-0.98R
I’d been away from trading two weeks and thought I’d have a look at the market when I got back, to catch up before trading properly next week.
I opened the charts as this was forming, and liked the look of it so entereed a trade. I was very close to hitting my 2R target before price turned around and was a bit unlucky, however I shouldn’t have entered this trade in the first place. It was a Friday afternoon, I’d only just opened the charts and was definitely not with the flow of the price.
Tuesday 22 October 2019
End of Day Review
-1.08R
3 trades taken. 1 break even, 2 losers, 0 winners.
As price moved down from a high, I saw the potential for a 5min or 15min MAB, and anticipated price moving down to those levels with a micro-1min MAB.
This didn’t quite work out, but I covered my risk by moving my stop loss to break even when price was near the 5min ema.
I had seen this setting up on the M15 timeframe, and liked the look of it. I entered the trade on the back of the idea that price would test the H1 and D1 EQZ midlines, as in my last trade.
This was a mistake, as I moved my profit target looking for a strong downward move. Had I left it alone, I might well have come out of this trade with the 2R target that is in my plan!
I thought we might have seen the price test H1 and D1 EQZ midlines again before moving up, and was looking for a quick in and out trade.
There was some role-reversal structure, and the 1min ema in play, however you could consider point B of the setup as the second shoulder of an inverse head and shoulders, and this should have been enough to put me off taking the trade.
Monday 21 October 2019
End of Day Review
+3.72R
2 trades taken. 0 break even, 0 losers, 2 winners.
A good day’s trading. The early morning Bullish move, ending at 08:45 set the trend for the day, and gave excellent role-reversal structure for the two trades taken.
I’m pleased with my trade managementwith both trades, cutting the trade short on the first, and raising the profit target on the second to make the most out of each move. A better entry for the first trade could have seen another ~1R in profits, however that is being picky and the speed of price movement doesn’t always allow for such accurate entry.
A good move on the M15 timeframe, with clear Role-Reversal structure confluent with the GZ.
I took the trade on the M1 timeframe, using the same keyzone structure as I had used for my trade earlier today. The combination of this level, along with the 15min ema and GZ was too good an opportunity to pass up! I placed my profit target below the Inner-Fib for the higher-timeframe move, looking for +2.5R, also within another keyzone drawn from previous price action. As price reached the 1min and 5min moving averages, I moved my Stop Loss to break even as a precaution; I was expecting price to stall for a time at this level, but was confident it would break through and at least reach the Inner-Fib 50%.
I would have liked a better entry, with the 2R target at the top of the keyzone.
I watched patiently as the Role-Reversal level held, and took profits as price reached my target. I was tempted to allow my time for price to push above the keyzone boundary, as the 2R profit target was sitting within the Inner-Fib GZ, however I felt the better thing to do was to take profits. At the moment this seems to have been the right choice, as price is back at the bottom of the keyzone (13:35).
Mon 19 Aug 19
Moved my SL to cover losses as price danced around just above the 5min ema. I SHOULD have left the SL alone, as my trading plan stipulates, however I am adjusting to using a live account, and know I will get over these emotions with time.
I am happy that I waited for the 5min MAB to occur, and that I took my chance when it arose.
Tue 13 Aug 19
My first trade on a live account!
I chickened out when price was hovering just above the Open and the H1 EQZ at 11644.04, as I didn’t like the way that price had moved above the 61.8 Fib level just after opening the trade, and felt that those levels could act as support.
Price came very close to what have been my Stop Loss not long after, and there was a chance it could have triggered, so I’m glad that I moved my Stop and broke even before this, however if I had held onto the trade there was a chance that I’d have been lucky and hit my +2R target.
Mon 12 Aug 19
I passed on this trade due to the closeness to the D1 EQZ boundary, and the possible MAB with the 5min ema coming down from above.
A selection of FibCons and MABs from this morning’s price action.
I chose to pass on the 5min MAB at 10:39 as I didn’t want to sell back down into the D1 EQZ boundary.