Mhangwane1

Mhangwane1

The earlier trade pulled me out and hit my SL while in profit. So now I have found another entry which I will gladly take (the instrument is rounded off on the charts so it's kinda hard to give precise exits) I entered at 33 111.52. My SL is 33150.52 and my TP is 32 111.52

Mhangwane1

Right now this is in my TOP 10 Entries for the year. 🍾🍾🍾🍾🍾🍾🍾🍾 This is due to it touching my entry not just once but twice. From there it just plummeted and has been sinking, you can move your SL into profit.

Mhangwane1

It has just crushed itself in price and collapsed on all beliefs of its strength. We wait for the impulsive break down and retest before entering. Till then stay vigilant and watching.

Mhangwane1

I could be blind while seeing this, I'm seeing a failed level to break (Twice). I am also seeing a channel forming. Yet the probability could be a reversal channel and we could see a break upwards

Mhangwane1

Not going to take it, just going to monitor it and watch it over the day. I would rather look for a better entry next week. I do not like holding trades over weekends due to broker regulations.

Mhangwane1

Good thing SL was in profit, so we didn't donate back. Tomorrow is another day but close of market so we will trade with caution and with a plan. Goodnight

Mhangwane1

We broke out impulsively and we took it very early, now we going to hold but move SL into profits. We do not run a charity here and we are responsible finance managers.

Mhangwane1

I am anticipating this. We come from a bullish trend, we now have a bearish small channel forming (Reversal). This indicates that we are in a bull channel and that after accumulation (Demand) has been placed, Volatility (Supply) will be fulfilled impulsively. That's where we either wait for the break and retest or enter early and hold (Higher risk but higher reward).

Mhangwane1

I am now closing all my trades, they are in slight profit. I just do not like the way the market is moving and the volatility is too slow. So I would rather take my little profit than risk giving to the market, I also will be busy for a while so I do not want to leave un-monitored trades running.

Mhangwane1

Closed half the trades because my goal for the day was reached, so I left the other half running and opened a few more when it retested. I'm going to add just 2 more this morning once the W formation is complete.

Mhangwane1

This is where I'm seeing GJ head to. Yet I'm not entering yet, I'm going to wait for an impulsive bullish candle. The trend has been bullish, so this is a retracement and we enter continuation.

Mhangwane1

I don't even remember why I had set this but I'm seeing it now. We are still sharp and that shows with the direction, volatility and overall RR.

Mhangwane1

We either wait for the break upwards and retest before entering, we are not going to enter prematurely or else we will pay for breaking rules. We could also see a break downwards so we will watch that and stay cognizant of todays fundamentals.

Mhangwane1

Right about volatility just wrong about direction (For now). I'm going to delete my Sell Stop and just wait for it to keep on melting and retesting before anything. Yet stay watching and stay waiting

Mhangwane1

This is what I am seeing for this morning but because we are in the middle of the month and starting a new week, we could be seeing a lot of volatility. Thanks to the new found get up and go I have fed my mind, this week I want to be fully back in and going in hard this week. We will be watching fundamentals as well. Tomorrow we have Powell speaking Wednesday we...

Mhangwane1

Great forecast, I put this feeler out hours ago. It was not yet ripe so now it went above and beyond.

Mhangwane1

Just like that we were going to be out, but the US30 trade would have kept us afloat. We stay watching and waiting, close your laptops and enjoy your weekend. Monday is another day and this week if we calculate we should be up roughly 5% which is better than negative and higher than the 3% goal we were aiming for.

Mhangwane1

I guess had I taken the trade it would have been a great trade but I'm glad I didn't. The Volatility was beyond what I expected and am not a fan of trading NFP but it is good to know over 500k jobs where gained.