EURUSD May 20 Failed Trade
Hour to minute chart analysis Narrative Breakdown
Asia to London hour TF analysis
*Price expands to a discount taking minor buy side
*dips below the 50 fib, and CE of the FVG it was attempting to rebalance
*on the 15 TF the above move retraces to the .618 Monday’s previous range, classic pullback in a bull market, setting up for a long for London, my oversight
*20:30 Price launches with a visible reaction, to reverse course
*22:45 price retests the IFVG created at 20:30 bounces off
*price consolidates back to a premium
*this threw me off-I don't buy in a premium on the previous range
*clues price is going higher was price making higher lows
1:50 I entered to sell, equal highs taken and EXPECTING a sell off framing my logic from the morning not reading the HTF logic
*2:05 stopped out
Admittedly I did switch and buy after seeing my oversight and analyzing GBP/DXY logic and got stopped out
Day over.
Price did swing to equal highs that I did frame when I bought. Nice delivery with out me!
Take aways
*Scaling through all time frames for reactions at specific levels, and noting them, along with what liquidity was taken
*HTF bias is KING
*I was flexible by buying after my sell idea folded, I was not confident and hence got stopped out with a sloppy entry
*rule broken 1 trade a day-2 trades today that cost me
*after a successful trading day yesterday today I could have went to the beach
*rule broken buying in a premium!!!!
Grateful to be practicing and loosing trades are winning for the wealth of information that is provided
Hour to minute chart analysis Narrative Breakdown
Asia to London hour TF analysis
*Price expands to a discount taking minor buy side
*dips below the 50 fib, and CE of the FVG it was attempting to rebalance
*on the 15 TF the above move retraces to the .618 Monday’s previous range, classic pullback in a bull market, setting up for a long for London, my oversight
*20:30 Price launches with a visible reaction, to reverse course
*22:45 price retests the IFVG created at 20:30 bounces off
*price consolidates back to a premium
*this threw me off-I don't buy in a premium on the previous range
*clues price is going higher was price making higher lows
1:50 I entered to sell, equal highs taken and EXPECTING a sell off framing my logic from the morning not reading the HTF logic
*2:05 stopped out
Admittedly I did switch and buy after seeing my oversight and analyzing GBP/DXY logic and got stopped out
Day over.
Price did swing to equal highs that I did frame when I bought. Nice delivery with out me!
Take aways
*Scaling through all time frames for reactions at specific levels, and noting them, along with what liquidity was taken
*HTF bias is KING
*I was flexible by buying after my sell idea folded, I was not confident and hence got stopped out with a sloppy entry
*rule broken 1 trade a day-2 trades today that cost me
*after a successful trading day yesterday today I could have went to the beach
*rule broken buying in a premium!!!!
Grateful to be practicing and loosing trades are winning for the wealth of information that is provided
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.