Charts - Thursday 12th & Friday 13th March

by 20:44 0 comments
I'm slow getting the closing entries up this week, sorry! Took a trade on Thursday which ended as a loss and then took a winning trade on Friday. My total for the week was a gain of 2.44%.

Thursday's trade was a buy. Looking back on it now, it wasn't a very good trade as I traded right into the low of a previous high volume zone. I got stopped just before news and it then spiked up to where my target was before closing back on the low. It proceeded to fall a few hundred pips from this point over the remainder of Thursday and Friday.

1. Previous high volume zone from Wednesday

2. Starting point for the trade.

Entry on the P&F chart on the right.

3. Higher volume from the news announcement.

Friday's trade was a sell from a similar area I took the long on Thursday. Bar 2 on the first chart is a green zone. Bar 1 on the below chart is on Friday morning and is back into this area. Once this happened I was pretty convinced we had some weakness in the market and that it'd fall from here.

1. Friday morning volume into Bar from Thursday's chart.

Entry is in green on the P&F chart. It idled sideways for a while before printing another signal in the red circled area. To be honest this is probably a better entry as the majority of the signal is below the MA, i'm admittedly bending the rules a little with my initial entry. Something i've to be careful with so that it doesn't creep into my trading. Rules are rules. Certainly not there to be bent.

Either way, Friday made the week again and allowed me to hit my weekly target. Friday 13th, lucky for some!

Looking forward to the coming week.





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


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