Actually placed with no SL, this is a risky trade that needs monitoring every few seconds so I don't advise it unless you are going to put in a SL. The real confirmation will happen once it breaks the neckline of the inverse H&S, then we take a long till then stay out.
I've been waiting for this break. Now we wait for the retest and we place our buy stops above the retest. Until our retest is done, we stay watching and waiting.😂😂😂🔥🔥🔥
I didn't post this trade because I had literally 5 mins to open the charts, so I was only able to place the trade and the TP. Couldn't show it, but it followed all my rules and my trading plan hence I was able to.
I wanted to place this trade but because we took a loss earlier, we follow our rules so we just forecasted. Sharpening the skills doesn't stop even after a loss.
Why this one hurts, is only because it tagged me in even though entry was at the neckline. It's alright, we manually close and prepare for the next move.
Exactly what we said ahead of time. If you got hurt, it has nothing to do with the market but more to do with not setting entry and exit points.
Close under this blue rectangle will result in a push all the way down. Even after the close down. we will wait for either an impulse downwards or retest which bounces and stays below.
You can either move your SL to BE or make your SL smaller, because if it decides to turn now best believe you will feel like your wasted your efforts. With the current structure we will keep pushing upwards and onwards.
SL of the earlier trades has hit, but because earlier we had UJ we still up. But we need to watch it over and see why we got on the wrong side. Watch and WAIT
These are my ideas as to whats going to happen after the close and retest is done. So either entry will depend on your trading plan, that's why both entries have different SL. It is to accommodate my trading plan and my RR which I follow, STICK TO THE PLAN (YOURS THAT IS).
I placed trades earlier here, because my day was so busy. I couldn't post the forecast I had but I longed for 57 pips and TP hit. Just waiting for more opportunities.
Good thing we didn't enter it at the time we saw it, or else we'd have heart palpitations. It would've either hit the SL or come close to because of the large movements. Now we wait for the retest of the blue rectangle before we hop on and ride
Getting my forecast right 2 times in a row is such a big event. It has taken me time to get to a point where I don't care about what "mentors" are saying🤔🤔🤔😎😎😎. GJ, after back-testing, practice and over 10 blown accounts I have finally understood a part of it. Long term we going for a while but I want to ride the waves along the way. Thank You for those that read...
😂😂😂😂 Lesson Learned 😂😂😂😂 Because I got too excited for the set up, the previous buy stop I set was 161.300 and not 161.030. So I just have to be more patient before adding any trades as it will mess with the trading plan. Plan your trades and trade your plan. Initial idea was to get in before the break, after neckline retest add more trades. This was to ensure...
I had already entered an early trade of this as a risk but if we get the close I'm anticipating of the next few candles then I will place that buy stop and let it run. I will only adjust here and there according to SL and price structure. 1. Inverse H&S 2. Break, retest and continuation 3. Break of inverse H&S shoulder line 4. In the Correction phase
I've put 2 trades next to each other so you can see which type of trader you are, or which one serves your trading plan. It's the weeks forecast with all my analysis done (Starting from the 4H chart going down to 15 min). FOLLOW YOUR PLAN AND STICK TO IT
I was greedy and selfish and didn't listen to my own advice. Close the laptop and go enjoy the week. This weeks lesson - Follow my own advice and do not question my authority - Having foresight for the next week, makes it easy to prepare for the movements of the week. - Learning doesn't stop even if you have profits for the week
It's Friday, you don't have to fight it. Close your laptop and go enjoy your weekend, next week is a better week with more possibility.