FernandoBorea

FernandoBorea Updated 

Hey everyone! We have a new trade for the challenge!:D In today's trading session, I noticed that AUDNZD is showing strong signs of a reversal, specially considering that we just rejected a few days ago a quite old resistance that comes way back from October 2023. After which the market is making a retracement that sent the Stochastic in H4to the overbought...

FernandoBorea

Hey everyone! We have a new trade for the challenge! In this case, I decided to also enter short in the EURNZD currency pair. While we have the AUDNZD trade running in profits, historically, the correlation between AUDNZD and EURNZD has been moderate (around 40% -50 %); therefore, we can also harvest some profits from this trade. In the H4 chart, we see that...

FernandoBorea Updated 

Hey everyone! After some off-the-charts time (had some personal stuff going on), we're back with the challenge! I decided to take a short trade in EURJPY in a slightly smaller time-frame (H1). In H4 we see a strong supply zone that triggered a strong bearish push a few days ago. In H1 and M30 we have seen some price action confirmation about the markets...

FernandoBorea Updated 

Hey everyone! And we have a new trading opportunity! I've been monitoring the price action in the USDJPY pair for the last several weeks. Since mid-March, the market has shown strong signs of a consolidation pattern in the 151.00 - 152.00 area. In H4, we see how the stochastic is signaling an overbought market condition and a crossover, giving us some clues...

FernandoBorea

Hey everyone! Great news: we have our first winner for the second season of the challenge series! While monitoring the trade a few days ago, I decided to close half of the trade early and move the SL into profits. This was because I noticed several bearish patterns as we approached the resistance, which led me to believe a resistance break would take more...

FernandoBorea

Hey everyone! After some time off the charts, we're back with the funded account challenge! TL; DR for those new to the series: I started a funded account challenge in 2023, which had a bumpy start with an excellent recovery. We're currently sitting at around -3% and the target is 10%. I noticed my feedback cycle was too slow as I was trading from the...

FernandoBorea

Hey everyone! There is some big news for the funded account challenge! First things first, let's talk about the trade review of the last open trade from Season One! We've had the EURNZD short trade running for a while. After protecting some of the profits from the second half of the trade, I decided to keep it running as I suspected we could see a break from...

FernandoBorea

Hey all! A new update for the challenge! This time, we have one of those frustrating stop losses; however, that's just how trading goes sometimes, haha. Almost exactly after entering the trade, the market started to make bullish progress, peaking (at least now) just above the stop loss. The price action reflects a bearish presence, so I still consider a short...

FernandoBorea

Hey all! We have a new trade for the challenge! Let's start with analyzing a bird's eye view of the daily time frame. We can observe that the market was in a stable, bullish structure for almost all of 2023 until a few weeks ago, when the market started to experience strong bearish pressure. This eventually broke the ascending channel and the previous relevant...

FernandoBorea

Hey all! We have a new activity on the challenge! Unfortunately, on this occasion, it is about a stop loss. I consider this to be a normal stop loss from the strategy, as in hindsight, when executing the trade we had strong technicals signaling a potential bearish continuation. However, as the trade developed, even though there was an initial bearish...

FernandoBorea

Hey everyone! We have a new activity on the challenge! The EURNZD short trade has been running for a long while now. I consider this trade to have a large upside potential as the market hasn't been able to make any significant bullish progress since it reached the support area several weeks ago. In my opinion, this is a strong sign of seller pressure in the...

FernandoBorea

Hey everyone! We do have a new setup for the challenge! If we look at the daily chart, we can observe the market showed a bullish phase followed by a range phase, or distribution phase according to Wyckoff. In my opinion, this presents a great overall market condition for sell setups. Then, while checking out the H4 chart we noticed a double top formation,...

FernandoBorea

Hey everyone! Well, this trade didn't work out as we expected. However, that's the beauty of trading! Win some trades, lose some trades, but always learn something along the way! I think I could have done better on this one as even though big picture I consider we are due for a bearish swing, the timing on the entry could have been better managed. Perhaps...

FernandoBorea

Hey all! We have a new trade for the challenge! In the daily timeframe, the markets have been in what seems like a distribution phase (Wyckoff method), we have seen a false breakup from the upper boundary of the distribution area, which can be labeled as an upthrust (a concept from the Wyckoff Method too) after which the market returned to the range. In my...

FernandoBorea

Hey all! We have some more updates regarding the challenge! Our precaution on this trade triggered the stop-loss in profits, leaving a small gain, but a gain nonetheless. I consider this a good trade managed with proper risk mitigation techniques since the risk of having a full stop loss ahead of the news event we had coming our way didn't justify the potential...

FernandoBorea

Hey all! And we have a new update to the challenge! We have NFP Friday tomorrow, and since this trade has been relatively slow to react, I took the decision to move the stop-loss to essentially break even. I consider risking waking up to a stop-loss isn't worth it, so the trade-off of leaving a tight breathing room for the trade is worth it. Personally, I think...

FernandoBorea

Hey all! This one is a late update to the trade, I've had some crazy busy days lately... and we're back! We have another take profit for the challenge! There's also strong selling pressure hitting the daily support area. Given that we traded the breakdown of an ascending channel, I consider we can see a continuation to the downside. If the market proves that the...

FernandoBorea

Hey all! We have some news regarding the challenge! Unfortunately, the Gold short trade didn't work out as expected. However, I'd consider this a normal stop loss within the set-ups I'm looking to take. We do have the short trade running on USDCHF, which has some negative correlation to Gold, so some of the losses are offset through it.