Trade Recap: EURUSD - SHORT & USDJPY - LONG, 29/10/2024EU Bias Analysis: Although price is deeply discounted on the 1D timeframe, the 4H counter trend persists. Short entries were in line with the 1H bearish range and price pulled back into the 79% OTE area, which confluently overlapped with a 1H bearish OB.
Grade: High Quality Valid
UJ Bias Analysis: Similarly to EU, price from a 1D perspective was in a premium area but with the 4H counter trend also persisting, the bias remained long and in line with the 1H bullish range. After a pullback into the OTE area following high volume news releases, I waited for a retest of the 1H FVG to seek entry confirmation.
Grade: Valid
What I did well or could've done better
- Persisting in my execution of EU shorts despite being taken out on multiple occasions (both at full loss and with partial profits)
- Read through the news "noise" and executed on UJ longs despite the volume which could've been misleading.
- Executed on my phone and set the wrong take profit area. Had I not done this recap, I probably would've left money on the table (Given full TP is realised) so I need to be mindful of double checking trade parameters on my laptop if execution takes place on my phone.
