TRADING PLAN - FRI 22-05
NEWS
----------------------------------------------
Recent Past----------
Good
EUR, NZD
Mixed----------
USD
Bad----------
GBP, JPY
Upcoming today-----------
***EUR***16.30 ECB speech
(1900-2200 misc)
CURRENCY SUMMARYS
----------------------------------------------
AUD strong and ****pulling back****. VERY Small spike in volume in the night
CAD weak and gaining moment
CHF mixed - more down. Weaker than EUR
EUR mixed
GBP mixed
JPY weak but ****pulling back VERY STRONGLY****
NZD strong momentum faded
USD weak ****pulling back****
Synced Pairs
NZD
JPY
AUD (exc NZD)
(Asian theme?)
OBSERVATIONS
----------------------------------------------
GBP - price action does not match recent news releases
AUD - s loosing up momentum on daily
AUD, NZD, JPY - ASIA seems to be the control currencies
CHF - Took hit yesterday - was it because it was a BH? (Was it justified?)
JPY - Looks too strong to trade today
DAILY TRADING CONCEPTS
----------------------------------------------
Trades should involve AUD, NZD or JPY (Careful with AUD)
Look for GBP shorts
CHF recovery? (But theres no evidence…)
(Its FRI so pack up by 5-6pm)
FOCUS PAIRS
----------------------------------------------
---AUD (I'd rather not if I can)---
GBPAUD
AUDCHF
---NZD---
NZDJPY ***very strong pull back on other pairs***
NZDUSD
GBPNZD
---GBP---
GBPCHF
SETUPS
----------------------------------------------
GBPAUD
AUDCHF
----------------------------------------------
NZDUSD
NZDJPY
GBPNZD
----------------------------------------------
GBPCHF
----------------------------------------------
FOCUS CURRENCY SUMMARIES-------
AUD
NZD
GBP
NEWS
----------------------------------------------
Recent Past----------
Good
EUR, NZD
Mixed----------
USD
Bad----------
GBP, JPY
Upcoming today-----------
***EUR***16.30 ECB speech
(1900-2200 misc)
CURRENCY SUMMARYS
----------------------------------------------
AUD strong and ****pulling back****. VERY Small spike in volume in the night
CAD weak and gaining moment
CHF mixed - more down. Weaker than EUR
EUR mixed
GBP mixed
JPY weak but ****pulling back VERY STRONGLY****
NZD strong momentum faded
USD weak ****pulling back****
Synced Pairs
NZD
JPY
AUD (exc NZD)
(Asian theme?)
OBSERVATIONS
----------------------------------------------
GBP - price action does not match recent news releases
AUD - s loosing up momentum on daily
AUD, NZD, JPY - ASIA seems to be the control currencies
CHF - Took hit yesterday - was it because it was a BH? (Was it justified?)
JPY - Looks too strong to trade today
DAILY TRADING CONCEPTS
----------------------------------------------
Trades should involve AUD, NZD or JPY (Careful with AUD)
Look for GBP shorts
CHF recovery? (But theres no evidence…)
(Its FRI so pack up by 5-6pm)
FOCUS PAIRS
----------------------------------------------
---AUD (I'd rather not if I can)---
GBPAUD
AUDCHF
---NZD---
NZDJPY ***very strong pull back on other pairs***
NZDUSD
GBPNZD
---GBP---
GBPCHF
SETUPS
----------------------------------------------
GBPAUD
AUDCHF
----------------------------------------------
NZDUSD
NZDJPY
GBPNZD
----------------------------------------------
GBPCHF
----------------------------------------------
FOCUS CURRENCY SUMMARIES-------
AUD
NZD
GBP
評論:
REVIEW OF DAY
----------------------------------------------------
I took the GBPCHF in the end. I messed the entrance up - I dived in mid H1 candle (because 15m candles looked good) and ignored the stoch telling me it was too soon. I was punished with price flopping about for an hour or so.
I started well then was REALLY struggling. My instincts were screaming to take profit off when I was almost 1:1 but was I got burned last week closing trades too soon I let it go. Because EUR news was coming I took 10% profit and went to break even. In the end I got virtually a scratch 0.3% profit.
LESSONS LEARNT
-------------------------------------------------------
I think I need to trust my instinct more and start closing trades sooner. I'm starting to see a pattern of that I'd grow my account a few percent more each week rather than break evens.
I also had in my head that if price can't break after a pullback to 1.5 for example, its not going to break until it pulls back further.
Well, i least I haven't taken a loss again - its becoming an issue as I haven't taken a loss in 2 weeks so i'm emotionally feeling like thats the norm - IT ISNT!
----------------------------------------------------
I took the GBPCHF in the end. I messed the entrance up - I dived in mid H1 candle (because 15m candles looked good) and ignored the stoch telling me it was too soon. I was punished with price flopping about for an hour or so.
I started well then was REALLY struggling. My instincts were screaming to take profit off when I was almost 1:1 but was I got burned last week closing trades too soon I let it go. Because EUR news was coming I took 10% profit and went to break even. In the end I got virtually a scratch 0.3% profit.
LESSONS LEARNT
-------------------------------------------------------
I think I need to trust my instinct more and start closing trades sooner. I'm starting to see a pattern of that I'd grow my account a few percent more each week rather than break evens.
I also had in my head that if price can't break after a pullback to 1.5 for example, its not going to break until it pulls back further.
Well, i least I haven't taken a loss again - its becoming an issue as I haven't taken a loss in 2 weeks so i'm emotionally feeling like thats the norm - IT ISNT!
-it contradicts the GBPCHF trade (CHF strength)
-I'm uncomfortable with AUD
-the macd does not align