SPX500 - SHORT
Date: 25-May-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
THE SETUP MEET ALL MY CRITERIA AND PLAN
a. The pattern within the pattern
b. 3 touched or more
c. Double top/bottom (2 touched)
d. Arc formed
e. Red/Yellow reversal candle (engulf), ensure it closed in TF in 15 Min or 1H
f. Checking risk-reward and order level with regards to ROI
g. No FOMO and No rush to place an order
h. Count 1-10 for calming
TRADE ANALYSIS
Content: actual market now, prediction, probability, possibility, nature, trend, structure, etc.
Looking at SPX500, price formed flat channel which is now in the resistant area, tried to break or retest this resistant about 3-4 times but not break yet, price not really touch the trendline but as per prediction the nature of the price will be leaning to the downside, see the price action at the left, perhaps it will create the same, I see almost 95% the candle structure is same
Check the best entry once there is red big candle in TF1H or 15Min, waiting to pullback upside/retest the will take a trade
PSYCHOLOGY
Good overall psychology, since this is an index which nature is to go up but I will manage it as needful
REASON FOR FORECASTED / EXECUTED / MISSED / NOT TO TAKE THE TRADE
Price formed a flat channel which currently in the resistant area, D and 4H candle not shown a big move to the upside
TRADE MANAGEMENT
Content: How to take the trade, jump into the market and close the trade
I will take the trade once one more bouncing price to the upside or once it touches the trend line, planning to put Sell Limit (pending order) at that level, I will move SL to price order once profit around 1% since the volatility of this index
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
Date: 25-May-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
THE SETUP MEET ALL MY CRITERIA AND PLAN
a. The pattern within the pattern
b. 3 touched or more
c. Double top/bottom (2 touched)
d. Arc formed
e. Red/Yellow reversal candle (engulf), ensure it closed in TF in 15 Min or 1H
f. Checking risk-reward and order level with regards to ROI
g. No FOMO and No rush to place an order
h. Count 1-10 for calming
TRADE ANALYSIS
Content: actual market now, prediction, probability, possibility, nature, trend, structure, etc.
Looking at SPX500, price formed flat channel which is now in the resistant area, tried to break or retest this resistant about 3-4 times but not break yet, price not really touch the trendline but as per prediction the nature of the price will be leaning to the downside, see the price action at the left, perhaps it will create the same, I see almost 95% the candle structure is same
Check the best entry once there is red big candle in TF1H or 15Min, waiting to pullback upside/retest the will take a trade
PSYCHOLOGY
Good overall psychology, since this is an index which nature is to go up but I will manage it as needful
REASON FOR FORECASTED / EXECUTED / MISSED / NOT TO TAKE THE TRADE
Price formed a flat channel which currently in the resistant area, D and 4H candle not shown a big move to the upside
TRADE MANAGEMENT
Content: How to take the trade, jump into the market and close the trade
I will take the trade once one more bouncing price to the upside or once it touches the trend line, planning to put Sell Limit (pending order) at that level, I will move SL to price order once profit around 1% since the volatility of this index
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