07 - 11/03/2022 XAUUSD Re-analyse (Trend & Failed)
Case:
- Monthly: Buy/Sell?
- WeeklyTypicalStructure:
Buy> S S * B B ?
Sell> B B * S S ?
- PreviousDailyCSPattern:
?
Buy/Sell first , Sell/Buy at ?
----------------------------------------------------------------------------------------------------
THE TRADING PLAN
----------------------------------------------------------------------------------------------------
HOW PRICE BEHAVE AT
WHAT ARE THE PRICE DOING AT
1. High Low Week / High Low Day
-where are we at previous week?
-where are we at monthly?
-what are our weekly bias?
2. Daily candlestick pattern
-doji
-engulfing
-insidebar
-railroad
3. Typical candlestick structure
-anatomy of candle, price always push to other side first before making real move
4. TakeProfit TP
a) 50SL (Weekly engulf/railroad/insidebar template)
TP1 = 1:2 minimum (Tue/Wed Daily High Low Liq. Pool)
TP2 = Let it run
b) 20-25SL (Weekly pinbar template)
TP 1
1:4 minimum (Wed/Thurs Weekly High Low Liq. Pool)
Or
1:Minimum (Due to timing factor, 6-8hrs after opened, still struggling)
TP2 = Let it run
ADR 130
Max move 300 pips
Explosive move typical in 1 session (2-4hrs max)
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.
5. Entry timing
ASIAN 0400, 0500, 0600
LON 1000, 1115, 1215
NY 1545, 1645, 1700, 1745, 1945
6. Scaling idea
Max 5% DD
- 0.35% per trade (14x consecutive losses)
- if >5%, use 0.65-1% per trade (15x consecutive losses)
ADDITIONAL ELEMENTS TO CONSIDER
----------------------------------------------------------------------------------------------------
. Round number 55, 00 & liquidity pool
. Entry candlestick , 5MIN for greater RR
. SL breathing
10-20pips 5MIN ENTRY
25-28pips 15MIN ENTRY
. Weekly bias
-Buy B * Sell S
-S S * B B
. Peak day, beware
. If structure failed
-Wait for 3-5 pushes to next HOD HOW / LOD LOW
. Pending order, never Market order
- Monthly: Buy/Sell?
- WeeklyTypicalStructure:
Buy> S S * B B ?
Sell> B B * S S ?
- PreviousDailyCSPattern:
?
Buy/Sell first , Sell/Buy at ?
----------------------------------------------------------------------------------------------------
THE TRADING PLAN
----------------------------------------------------------------------------------------------------
HOW PRICE BEHAVE AT
WHAT ARE THE PRICE DOING AT
1. High Low Week / High Low Day
-where are we at previous week?
-where are we at monthly?
-what are our weekly bias?
2. Daily candlestick pattern
-doji
-engulfing
-insidebar
-railroad
3. Typical candlestick structure
-anatomy of candle, price always push to other side first before making real move
4. TakeProfit TP
a) 50SL (Weekly engulf/railroad/insidebar template)
TP1 = 1:2 minimum (Tue/Wed Daily High Low Liq. Pool)
TP2 = Let it run
b) 20-25SL (Weekly pinbar template)
TP 1
1:4 minimum (Wed/Thurs Weekly High Low Liq. Pool)
Or
1:Minimum (Due to timing factor, 6-8hrs after opened, still struggling)
TP2 = Let it run
ADR 130
Max move 300 pips
Explosive move typical in 1 session (2-4hrs max)
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.
5. Entry timing
ASIAN 0400, 0500, 0600
LON 1000, 1115, 1215
NY 1545, 1645, 1700, 1745, 1945
6. Scaling idea
Max 5% DD
- 0.35% per trade (14x consecutive losses)
- if >5%, use 0.65-1% per trade (15x consecutive losses)
ADDITIONAL ELEMENTS TO CONSIDER
----------------------------------------------------------------------------------------------------
. Round number 55, 00 & liquidity pool
. Entry candlestick , 5MIN for greater RR
. SL breathing
10-20pips 5MIN ENTRY
25-28pips 15MIN ENTRY
. Weekly bias
-Buy B * Sell S
-S S * B B
. Peak day, beware
. If structure failed
-Wait for 3-5 pushes to next HOD HOW / LOD LOW
. Pending order, never Market order