Friday 18th May

by 13:06 0 comments
Took a long position on EU today. Ended up closing it at break even.

A 15min high volume zone printed at the low of the day - which is always a nice area to trade from. Initially we pushed up and I was looking for a long from the 50% but I didn't get any opportunities from here. Once we pushed above the high and came back on No Supply this provided the perfect entry. The reaction was great and we pushed up very easily. It just missed my initial target by less than a pip and due to a past instance of this happening and then getting stopped out I decided to pull up my stops to BE. Strictly speaking this isn't to my strategy as the first target wasn't hit, albeit incredibly close. But still, you can see from the rest of the chart how it rallied for the rest of the day. 

EUR/USD 5min

There are some further entries using the 15min chart but at this stage I felt like I was chasing the trade a little so I decided to stop for the week and be happy with the profit i'd made from the Monday.

Despite only taking two trades and one bringing a profit I'm very happy with how this week went, I felt I was reading it competently and I got at least one opportunity every day. Given a bit more confidence it could have been a very profitably week. I'm just happy that this week has given some great examples of the strategy that i'm employing. 





28. Forex. Trading. Music. Beer. Food. Travel.


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