Charts - Tuesday 10th March

by 23:40 0 comments
Tuesday's have been pretty good to me so far this year with the following sequence since the first Tuesday in January. L W W BE W W W W W L. That final L represents today.

Two sell trades, one loss and one BE+1. Truth be told, I was a little lucky to get BE on the second trade. With this in mind I had the general direction for the day correct. It dropped quite a bit after 3pm.

Anyway, on to the charts.

1. High volume zone that printed at 9:00 - 9:15am this morning.

The P&F entry is highlighted in green on the right hand chart.

This trade never gained any traction and taking into account the 1.4 pip slippage on the entry (grrrr!) it was never in any profit. All this did was add more to the loss when it stopped on a push up. It bounced off the high and started to push through the low again so I decided to try another short.

1. The same volume zone as before.

Green circle for the entry. This entry pushed down and I took this for the move that I had looked for with the initial trade. Unfortunately this one wasn't to be either.

2. Stop was above this point.

3. It got pretty close to stopping before pushing down hard and fast. I pay very little attention to news outside of checking the high priority news announcements on Forex Factory each day. I care very little about what caused this but as it wasn't a scheduled high priority news event I decided that it was jumping around a bit too much for my liking.

4. This low didn't quite reach the automatic trigger to bring my trade to BE+1 so I decided to do it manually. Which is just as well as it pushed straight back up and would've hit my stop. Happy that I reacted to the market conditions and did what needed to be done.

There was another entry later in the day, again from the low of this zone. This one came good. So I was on the right track but my execution held me back a little.




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


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