DXY - SHORT
Date: 07-June-2020
Win / loss: xx pips
Entry type: risk entry / reduce risk entry
Grade: valid / not valid / high probability
Status: Forecasted / Executed / Missed / Not take the trade
Was this trade forecasted before : yes / no
Before taking any order I will do forecasting for all instruments -product. And the first thing I need to do here is forecast DXY, due to DXY is the biggest indicator for USD pairs and other instruments i.e indices, commodities, energies, stocks, bonds, forex and etc
THE SETUP MEET ALL MY CRITERIA AND PLAN
a. Pattern within the pattern, continuation, nature, bias
b. 3 touched or more
c. Double top/bottom (2 touched)
d. Arc formed
e. Red/green reversal candle (engulf), ensure it closed in TF in 15 Min or 1H
f. Checking risk reward and order level with regards to ROI (min3:1)
g. No FOMO and No rush to place an order
h. Check for candlestick formation
i. Count 1-10 for calming before taking order
TRADE ANALYSIS
Content: actual market now, prediction, probability, possibility, nature, trend, structure etc.
Looking at DXY, price form descending within descending channel as shown its weakness on last week due to economy factor and demonstration of socialism crime (Floyd-news), possibility still will go down as per channel/ trend, but only till bottom support line, see 2 yellow trend line at below price now, will check and wait the probability to go up, but I know it will be the part of correction before continue to down again as the nature is in impulse area
PSYCHOLOGY
Good overall psychology, seems this DXY pairs in weak position here but ready to check the retracement and pattern continuation, I know last week is bad week but will get the lesson learnt from it and move ahead, my lost will be part of expense im treating this trading as bussiness
REASON FOR FORECASTED / EXECUTED / MISSED / NOT TO TAKE THE TRADE
See the chance of DXY to go up, but take opportunity to keep Short on it
TRADE MANAGEMENT
Content: How to take the trade, jump into the market and close the trade
Waiting for best entry:
Short = once price touch resistant trend line
Long = at the bottom once touch the support trendline
Risk: about 1%
EMOTION AND LESSON
I will keep on mind for this plan, need to be patient at this key level, since so far my mistake on missed trade is not able to be in the market at the key level, even though my forecast is correct
Please be patient here
Date: 07-June-2020
Win / loss: xx pips
Entry type: risk entry / reduce risk entry
Grade: valid / not valid / high probability
Status: Forecasted / Executed / Missed / Not take the trade
Was this trade forecasted before : yes / no
Before taking any order I will do forecasting for all instruments -product. And the first thing I need to do here is forecast DXY, due to DXY is the biggest indicator for USD pairs and other instruments i.e indices, commodities, energies, stocks, bonds, forex and etc
THE SETUP MEET ALL MY CRITERIA AND PLAN
a. Pattern within the pattern, continuation, nature, bias
b. 3 touched or more
c. Double top/bottom (2 touched)
d. Arc formed
e. Red/green reversal candle (engulf), ensure it closed in TF in 15 Min or 1H
f. Checking risk reward and order level with regards to ROI (min3:1)
g. No FOMO and No rush to place an order
h. Check for candlestick formation
i. Count 1-10 for calming before taking order
TRADE ANALYSIS
Content: actual market now, prediction, probability, possibility, nature, trend, structure etc.
Looking at DXY, price form descending within descending channel as shown its weakness on last week due to economy factor and demonstration of socialism crime (Floyd-news), possibility still will go down as per channel/ trend, but only till bottom support line, see 2 yellow trend line at below price now, will check and wait the probability to go up, but I know it will be the part of correction before continue to down again as the nature is in impulse area
PSYCHOLOGY
Good overall psychology, seems this DXY pairs in weak position here but ready to check the retracement and pattern continuation, I know last week is bad week but will get the lesson learnt from it and move ahead, my lost will be part of expense im treating this trading as bussiness
REASON FOR FORECASTED / EXECUTED / MISSED / NOT TO TAKE THE TRADE
See the chance of DXY to go up, but take opportunity to keep Short on it
TRADE MANAGEMENT
Content: How to take the trade, jump into the market and close the trade
Waiting for best entry:
Short = once price touch resistant trend line
Long = at the bottom once touch the support trendline
Risk: about 1%
EMOTION AND LESSON
I will keep on mind for this plan, need to be patient at this key level, since so far my mistake on missed trade is not able to be in the market at the key level, even though my forecast is correct
Please be patient here