GBPUSD Post Trade Analysis 2024-01-29 : Valid LossGBPUSD Post Trade Analysis
2024-01-29
*Loss*
1. Valid risk entry loss for a valid loss
A. Entry Valid
B. Point of Interest Valid - 4H A.3
C. Valid Exit
2.What can I improve ?
A.
- I can input trade concept into Edgewonk Advance Journal Section.
- I can add all info, pre trade screenshots, fundamental news
- I can improved my fundamental analysis
- First Mitigation Failed - will track and possible add no first mitigation to trade plan
What would be my entry model Price Levels ?
1. Entry Price : 1.26750
2. Stop Loss : 1.26450
3. Take Profit : 1.27200
Could I take this Trade ?
- Would set alert and have 1 hour to place trade
- Valid Entry and Win
Lessons
- First mitigation is lower probability and Entry Model is a more valid Trade
Forex-trading
BOOM AND BUST CYCLE IN TRADINGThe "boom and bust" cycle in trading is a period in a trader's journey when significant gains are followed by periods of significant losses, which can lead to financial consequences and emotional burnout for traders. Breaking out of this cycle is not easy but very important for long-term trading success. When a trader doesn't know what he or she is doing, but is trying to break out of this cycle, the right direction is needed to find a way out of this difficult trading journey. Here are some tips that will help you stabilize your trading when you are not earning yet but also not losing all the capital as it was before.
1. Develop a solid trading plan. This sounds like a cliché. But if you don't have a trading plan you shouldn't be trading real money. Make a trading plan. A solid trading plan should describe your trading strategy. With a clear trading plan, you will be better able to anticipate market movements, avoid impulsive decisions, and stay focused on your goals. Start your trading day with a trading plan and end it with a trading plan.
2. Everyone talks about risk. The first job of a trader is to protect capital. You learn to defend first and only then attack. Apply strict risk management rules to protect your capital from day one. Because if you don't follow risk management it will become a habit that is hard to get rid of. What to consider about risks? This includes always setting stop loss orders, using the right position size to limit risk. Not trading everything. Less is more can never be applied to trading.
3. Sticking trading strategy. Consistency is the key to getting out of the boom and bust cycle. Stick to your proven trading strategy even in difficult market conditions or during losing streaks. Abandoning a strategy due to impatience or frustration can lead to inconsistency and poor performance. When you don't follow a trading strategy you don't give it a chance to show results. Deviation from a trading strategy kills any strategy. Stick to your trading strategy, give it a chance.
4. Discipline in trading. Discipline is the key to avoiding impulsive decisions. Avoid the temptation to recover losses or over-trade. If you are constantly losing money, just look at your trades for the past week. You will say to yourself, "if I had stopped trading, I wouldn't have lost so much". Why? Because the next day or week market always presents A+ setups that would have easily covered past losing trades. So, stick to your trading plan, manage your emotions and focus on making trades according to your strategy.
5 .Everyone says manage your emotions. Practice emotional discipline and keep your mind clear while trading. But how to do that? Emotions such as greed and fear can have serious consequences on trading results. One of the surest methods of dealing with emotions in trading is backtesting your strategy. You are afraid because you don’t know what to expect from the strategy. If you know all the numbers, for example which days are unprofitable, which session is more suitable for you, etc. then you won't panic and be afraid. You know what to expect. And all these techniques, like meditation, mindfulness or other methods of dealing with stress, will not help you in the beginning. After losing your capital, will you really sit and meditate? These methods work later when you have achieved stability.
6. Last but not least: journaling. Markets are constantly evolving, and pro traders adapt their strategies to changing conditions. How do you know the markets are changing? Or how do you know if you are trading better than last month? How do you identify the trading mistakes that are dragging you down? By logging what you trade, you have to regularly analyze your trading results and be prepared to try new ideas or adjust existing strategies to improve your consistency. Collect the data. If you can't measure it, you won't be able to improve it.
Conclusion
Avoiding the boom and bust cycle in trading requires a lot of work. You will need discipline, the right approach and 100% focus. Success in trading is not your golden goose strategy or some kind of secret money management. It is a combination of several things that bring success. Constant work on yourself, patience and consistency are your allies in overcoming the boom and bust cycle.
24-01-26 EURUSD Long Entry - Trade Management 24-01-26
EURUSD Long Entry
Trade Management Price Levels
A. Move Stop loss to a take profit support level on a lower time frame
Price: 1.08450
Locked In Risk to reward:
+ 0.25 % Going to the weekend
* Left a bit of breathing room for spreads for sunday opening and to cover my risk if any large news happens this weekend *
Signal Price Info
Entry Price: 1.08350
Stop Loss Price : 1.07950/ 40 Pips
Take Profit: 1.08950/ 60 Pips
Risk To Reward : 1 for 1.5
Trade Grade: A-
💡 XAUUSD: The decline slowed down after the GDP newsANALYSIS TODAY: The decline has slowed down and the gold price has recovered slightly in the past session. This move has not brought any significant change, so we continue to keep the old comments, expecting the price to continue to go down. According to the short-term downtrend, the targets are still 2000 and 1980 respectively.
Indicator is used:
- Chandelier Exit
- EMA
- MACD
Eurgbp surely Fall read the caption Eurgbp The indicators on the daily chart are depicting a bear-dominant market. The Relative Strength Index (RSI) is seen to be on a downward path, maintaining its location in the negative sector pointing towards an ongoing bearish momentum.eurgbp lower more than expected Concurrently, the Moving Average Convergence Divergence (MACD) indicators display an increasing number of red bars, a sign that selling pressure is escalating. Moreover, the crosse's position below the 20, 110, and 200-day Simple Moving Averages (SMAs) further substantiates the bearish stance..
Dow Jones ready to jump read the caption Dow Jones The index is drifting lower from its record high seen on Monday, but with no sign yet of a more significant move lower.The continued barrage of earnings may act to drive the price downwards, in which case last week’s lows around 37,200 may provide support. Below this, the 50-day simple moving average (SMA) becomes the next area to watch.
A close back above 38,001 leaves the index on course to hit new highs.
Btc confirm analysis read the caption Btc The technical picture now is more bearish as the decline from the 20-month high reached two weeks ago has continued, with the price trading above the big round number at $40,000 and breaking above some resistance levels which have now likely flipped to become resistance.
Despite this bearishness, over the past couple of days the price has firmed up and established a couple of higher lows and support levels. However, the price chart below shows that the price is well within a bearish price channel, although the lack of symmetry in the channel suggests that it may not be very reliable. Nevertheless, there is a confluence of the upper trend line of this channel with a zone of resistance stretching from $40,423 to $40,667. This looks likely to be a great place to enter a short trade if we get a bearish reversal rejecting that area.
Eurusd expected move read the caption Eurusd relatively volatile after the latest flash manufacturing and services PMI numbers from the US and Europe. It initially jumped to a high of 1.08980 and then pulled back as traders wait for the upcoming ECB decision and US economic data.
The latest numbers by S&P Global showed that European manufacturing sector continued to contract in January as companies complained about inflation and supply chain issues. In Europe, the manufacturing PMI rose to 46.5, better than the expected 44.7. Despite the improvement, it remained below 51, meaning that the contraction phase continued.
Gbpusd confirm buy pattern read the caption Gbpusd pulled back slightly after the flash UK and US manufacturing and services PMI numbers. The pair retreated to a low of 1.2729, a few points below Wednesday's high of 1.2777.
S&P Global published strong economic numbers from the United States and the UK, signaling that the two countries started the year well.
In the UK, the manufacturing PMI rose from 46.3 in December to 47.2 in January, higher than the median estimate of 46.7. Similarly, the services PMI jumped from 53.5 to 53.7 in January while the composite PMI rose to 52.4. These numbers came a few days after the Office of National Statistics released higher inflation but weak retail sales data.
Dollar Index (DXY): Bullish Price Action 💵
Dollar Index retested a recently broken horizontal structure on a daily.
After its test, the price formed an inverted head and shoulders pattern
and violated a resistance line of a bullish flag formation.
We can expect growth today.
Next resistance: 103.5
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Usoil follow the trendline read the caption It has been an unpleasant month for oil traders. Crude oil has risen $3 this month but it's been a rough road getting there with repeated whipsaws intraday and extreme choppiness in trading.
Headlines about the Red Sea have been faded over and over again despite bullish implications and fears of an OPEC breakdown remain high.
However when you back it out, the chart starts to look promising. A series of higher lows began on December 14 and oil is now trading at a five-week high. If $76.16 breaks, it will be an six-week high.
EURUSD: Detailed Structure Analysis 🇪🇺🇺🇸
Here is my latest structure analysis for EURUSD.
Resistance 1: 1.0898 - 1.0922 area
Resistance 2: 1.0973 - 1.1000 area
Resistance 3: 1.1106 - 1.1140 area
Support 1: 1.0793 - 1.0848 area
Support 2: 1.0724 - 1.0760 area
Consider these structures for pullback/breakout trading.
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eurusd rainfall coming read the caption eurusd downtrend
The 50-period EMA at 1.0895 acts as an immediate resistance level for the major pair. The crucial upside barrier will emerge at 1.0915, portraying the confluence of the upper boundary of the Bollinger Band and the 100-period EMA. The next hurdle is located near a high of January 15 at 1.0967, and finally at the 1.1000 psychological round figure.
The major support
eurusd lower and more lower
Dxy waiting for confirmation read the caption Dollar Update: sideways if break this area then go down otherwise go up wait for confirmation
Now This Is Decision Area ANd YOu Can See Down Below Both Price Action
If Dollar Make 2 Consolidation With Slow price action ups than down it could be good for bullish Other See Type Of Correction If Get decent Correction it will drop again
key Point: If Rise With Volume It
WIll Also Good For rise
Eth bouncing area read the caption U.Today - Ethereum finds itself shaky on the edge of a precarious position. The recent price chart indicates a concerning situation: the 100-day Exponential Moving Average (EMA), a key indicator of uptrend momentum, is under threat. If this level fails to hold, Ethereum could see its value dump to the $2,447 mark, a scenario that may well trigger a more pronounced decline.
Btc ready to jump read the caption The 4H chart shows that the BTC/USD pair has been in a strong bullish trend in the past few days. It remains below the 50-period and 25–period Exponential Moving Averages (EMA). The pair has also dropped below the Ichimoku cloud and the lower side of the Donchian channels. Also, the Relative Strength Index (RSI) has moved below the oversold point.
Therefore, the pair will likely have a dead cat bounce and retest the resistance at 45.000 and then resume the uptrend trend.
Gold soon on the moon read the caption Gold price (XAU/USD) attracts some buying during the early European session and turns positive for the second more expected buy when European session active successive day on Wednesday, albeit lacks follow-through and remains in a multi-day-old trading range above the $2,040-$2,052 zone. Traders pushed back their expectations for the first interest rate cut by the Federal Reserve (Fed) to May from March in the wake of a still-resilient US economy. This, along with the underlying bullish tone around the equity markets, turns out to be a key factor acting as a headwind for the non-yielding yellow metal.
s&p fall then bounce read the caption s&pTurning to technical analysis, the S&P 500 established a fresh record in late December, only to retrench and lose its grip on the gains in the days that followed. Last week, the equity index staged a moderate rebound and tried to rally back to its recent highs but was quickly slammed unexpected lower, it's more lower expected then rise forging in the process what appears to be a double top, a bearish technical configuration.
Gold struggle to selling read the caption Gold has bullish it's a good opportunity as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
XAUUSD BULLISH Biased on 23-01-2024🏦 Signal 2:
✅ XAUUSD/GOLD BUY STOP NOW @ 2027.25-2026.25❗️
Sl : 2025-2023.5
Tp1 : 2033
Tp2 : 2035
🏦 Signal 3:
✅ XAUUSD/GOLD BUY NOW @ 2025-2022❗️
Sl : 2022-2020 , -30/-20 pips
Tp1 : 2030, +75 pips
Tp2 : 2033, +85 pips
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