Journal
Week 45 - EURUSD - Thursday - SMTDXY having hard time making higher highs meaning dollar is being distributed
10/30/19 - BUY AUDNZDPosition: LONG
Entry Price: 1.07701
Take Profit: 1.08807(115 Pips)
Stop Loss: 1.07199 (46 Pips)
Risk / Reward: 1 : 2.5 (2%)
4HR Analysis:
- Price break and retest
- Rejection at EMA SUPPORT (pin bar)
- Entry @ Fib .681
Daily Analysis:
- Break of short term trend line
- Daily closed above trend line (entry on retest) **Didn't wait for a confirmation on daily**
Weekly Analysis:
- Price is at 100 EMA (Strong support) - 2 pinbars
- Recent break - continuation ?
Result: LOSE 1:1
Comments:
Do you think my stop loss should've been placed below the last swing low? Maybe it was too tight, i opted for a bigger position size over security. We'll see where the pair continues to move.
10/23/19 - SELL GBPUSD
Position: Short
Entry Price: 1.29154
Take Profit: 1.27942 (121 Pips)
Stop Loss: 1.30366 (121 Pips)
Risk / Reward: 1:1 (2%)
4HR Analysis:
- Price break and retest confirmation
- Rejection at Trendline resistance
- Target Fib .681
Daily Analysis:
- Break of short term trend line
- Daily closed below trend line (entry on retest)
Weekly Analysis:
- Price is at 100 EMA (Strong resistance)
- Trendline Resistance (Support turned resistance retest on the weekly
Result: WIN 1:1
