Trading plan: 50.2022
Atualizado
Last week: Price bounced from support 1.21 as we thought but all the trades I took were lost. I put the SL too tight (wanted to have a bigger risk: reward) or opened a position in a strong move in a smaller timeframe (M15 - being greedy) without looking at the bigger picture in H4 timeframe. It is bad and needs to avoid.
This week: Price formed 1 potential trendline and 1 support. Price also could not move higher above 1.23. Price seems to lost its bullish momentum. Price tends to break the trendline and pullback. If it breaks the trendline, targer 1 (1.21) and target 2 (1.19) are our pivot points.
Pivot points:
R1: 1.23-1.2350
S1: 1.21-1.2150
S2: 1.19-1.1950
This week we have US-UK Inflation, US-UK Interest Rate Decision, all strong news. I would need to be very cautious.
This week: Price formed 1 potential trendline and 1 support. Price also could not move higher above 1.23. Price seems to lost its bullish momentum. Price tends to break the trendline and pullback. If it breaks the trendline, targer 1 (1.21) and target 2 (1.19) are our pivot points.
Pivot points:
R1: 1.23-1.2350
S1: 1.21-1.2150
S2: 1.19-1.1950
This week we have US-UK Inflation, US-UK Interest Rate Decision, all strong news. I would need to be very cautious.
Nota
This week, price reached target 1 (1.2120-1.2150) but we didn't expect it made a false break at resistance 1.23. It caused me a long trade to be a lost trade but eventually I could make another short trade to cover this loss. I also didn't expect a strong price drop, so a take-profit target is just 60pips, SL 20 pips. I missed 100 pips profit for that trade.
Still, the most lesson I haven't learned yet. Need to focus on bigger timeframe: D1-H4 and don't open trade with emotion.
Aviso legal
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