Premature entry. This trade wasn't ready to pop to the downside. I misread. This is a poor read. An error in reading timeframes and deciding when to enter. My correlation was obviously off and I clearly need to do some more work on letting big 4/60 trades develop more. It looked like it was ready to go. But the STORY was already letting me know it wasn't. Way too...
Got in on this AUD/CAD via corelation. 4hr/60. Precision entry (hopefully). I saw that other pairs were beginning to move. I'm HOPING that this precision entry works, because I bought it at an area that appears to be some support, so it could spike back up for a test. But I'm hoping that it will just drop seeing that it is asian session, I believe Frankfurt is...
I lost BIG money on trying to catch this. My INitial analysis was semi-correct. It was for a short, but I think I misread the tests - I could have stayed in with that entry but my STOP was way too tight. So I was stopped out.
ATTEMPT #2 - I got back in on the precision area, but then it still went a little higher. Stopped again. Sheesh.
ATTEMPT #3 - FINALLY...
V formation, test, sell. But the thing is, I could have got a better entry of course. But more importantly, there is very little profit margin on this trade. I also reduced risk by taking a smaller lot size, duh. But what I'm mainly interested in is working on my READ & execution.
READ = Sellers territory 60/15. V formation, I like the V. Strong seller momentum,...
Took this short. Caught it just in time.
Strong correlation. V formation & pullback. Good read. Decent execution. Wondering if the test will spike up a little higher or if it will just drop like a rock. So far, so good.
This was a pullback, but a late entry. I could have got in a few pips earlier if I was paying attention - but I feel - i grabbed the opportunity at a decent position. Definitely could have had a precise entry, had strong rejection at the support, but didn't catch it in time. Taking this trade up to recent hhigh and exiting. Saw the V formation and considering that...
Caught the pull back a little late, but so far good read - decent execution. I saw this thing going down, but I already knew from the design and story that it was a good trade. Strong rejection at the top and it had already pulled back once before.
Is it safe to say I'm getting better?
I think so, but not yet. I could have/should have entered early and...
AUDJPY - V formation for the sell. The sellers of the V formation weren't as strong as I'd like them to be. But I went in for the sell anyway, could have tried to get a better price for entry, but I'll rate it fair since - at least I got in after the test & before it went down and I started chasing it. So... let's see what happens.
two neutral pairs.
however...
practicing countertrend trade. Read is okay but I Think I got in a little early, need stronger sellers to come in. That didn't happen. BUT I am working on getting in on TEST 2 of the V formation. Test 2 came in higher than test 1 (if I read it correctly) and so I am looking for it to come crashing down soon. It's a struggle, because there's so much buying pressure...
Saw the V formation, then test, looking for it to go to recent high. This isn't the best hours of trading, but it may inch it ways up there somehow. Didn't check volume, but I'm mainly working on improving my read to be more accurate. Sellers weak, buyers strong. Sellers DIED out towards the end, BUYERS came back with force. Let's see what happens.
Trading the test of this V formation that came in in sellers market. Hoping to gain a few pips from countertrend. Not really sure, but trying to perfect this and will continue to try this. The V formation came in on 1hr/15. But I'm gaining entry for the V formation test on 15/5.
