Charts - Monday 9th February

by 19:56 0 comments
I'm not gonna lie, most of this i'm copying straight from a post I made on Forex Factory not long ago.

Took one trade today which ended in a profit, but not as much as it should've been. My execution was good and I followed all the rules but once I was in the trade I could've done a bit better. Lesson learned.

EURUSD 15min

1. NFP zone from last week. Always a great area to keep an eye on for the coming week. Today was no different.

 2. The first thing that caught my attention today, two bars later was an upthrust / trap up move, whatever you want to call it. This got me more interested.

 3. A zone formed later in the day after the down move in the morning.


1. I took this entry this morning, the high volume at 2 in the previous chart was into the low of the NFP zone and once price printed that upthrust, I figured it was going down. Entered at 1.1342.

2. Polar bear in hawaii. A triple top buy signal in a down move, also below the MA. These are the types of trades I use to take but have since learned are a entirely pointless.

3. It doesn't fit in with my strategy as it's below the 50% and the MA but this can be taken as an aggressive entry after the high volume seen at 3 in the previous chart.

 4. A better entry, well above the MA, in keeping with the now formed uptrend and above the high of the high volume zone.

EURUSD 3min P&F Excel

I've circled entry 4 on the Excel sheet. I didn't take this as it was nearing the top of the trend channel. In retrospect it was a good entry to take, but i'm sticking with my rules.

 My management wasn't perfect today, but i'm getting there, feels like i'm getting places with this. A little hesitant to say it, but I think i've finally found my niche.



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


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