Losses comments: - Tuesday, opened 2 positions, both losses on both pairs Lesson learnt: >Tuesday, open only 1 position & 1 pair, as weekly structure unconfirm >Wednesday, open 2 positions on Tuesday's losses (if we still expect the same weekly structure) >This offers us tighter SL, with greater RR >Thursday, if Wednesday still loss, open another 2 positions on Wed's losses (if we still expect the same weekly structure) >Thus, max loss @0.25% x5 = -1.25%, if -6%, still need 5 straight week loss
Fundamental: a) FED rate pause, sentiment continue, 2024 FED expected to cut b) XAU strong fundamentally
Opportunity of DXY's pair, USDCAD Technical: - Last W1 chart bearish, this week still expect bearish at least to 1.325-1.320 - Weekly typical structure, D1 chart Monday/Tuesday bull to 1.345-1.340 before peak & turn - Weekly typical structure, D1 chart Tues/Wed expect to bear to target - Weekly typical structure, D1 chart Thurs/Fri expect to bear to target *check DXY chart to confirm the thesis *15M chart- Execute, Breakout/Pullback
Additional bias: a) Round psychology number 50/00 b) WeeklyTypicalStructure: -anatomy of candle, price always push to other side first before making real move -midweek reversalrejection/continuation > BuyBuy*SellSell / SellSell*BuyBuy c) Daily Candlestick Pattern: doji, engulfing, insidebar/railroad d) TakeProfit TP / StopLoss SL Depends on: -fundamentally / what are the news saying -liqiudity pool at Daily/Weekly/Monthly where -averageDailyRange ADR -catch explosive move only if direction align with weekly high low bias. Eg. Previous day was bullish doji at daily support & it is mid of the week, do catch today explosive move to next weekly liquidity pool. e) Entry timing recommendation -session LONDON, NY 9-12PM GMT+8 f) Entry with discount price, use fib
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