Week ahead = week end – recap GBPAUD,USDCAD,EURUSD

This week I have not written a “week ahead” since I am not going to trade for the rest of the week. There is a US holiday tomorrow and I hate trading during any bank holidays. So I am not going through the possible trade setups (i ll leave it to the Sunday 27th). I would like to share with you couple of trades from this and last week. Fiiiirst, welcome losers on the stage:

If I should count how many times I was stopped out last week I would count probably to 8. Yes, 8times I was stopped out – was it my mistake? Well, partially yes. Many trades I entered were moving in my direction BUT in a choppy way (I could have noticed that by the price action). I have come to a conclusion that my best trade is the one (observation made over my previous winners) which just blast towards my target with maybe one pit-stop around 1R.

Apart from being stopped-out there was one trade on Friday where I was able to flip the position and get 3times R more than the loss. So I proudly present the loser of the last week – ABOVE (I ll talk about the flip and the winner in the winner’s paragraph). 

This week the LOSERS day was on MONDAY. Well, not a good day for me = -4R. By this moment I have erased that loss and I am currently at +1R on the week. Considering the start I managed it well overall (tap, tap :)).

Ok, now its WINNERS time. Speaking of last week I would like to share the previously mentioned flip trade on Friday. The trade produced +3R and would produce much more but I went only with 1/2 size and wasn’t able to add because it all happened so fast. Long story short, after my initial short position was taken out by SL hit, I awaited for bit of resistance near the 50level and jumped in. I was out in a matter of 5minutes. Easy trade(this is good thing). Another trade AUDUSD – not much to talk about. Straight towards my target. Last one from this section: USDCAD. It broke my level but hesitated several times – I decided to exit it almost on BE – good one – would be a loss if I didnt do that. Lesson learnt? If you do not like the position just get the fuck out! (careful – there is difference between emotion driven exit and price action based exit).

Now to a big picture trades. I executed ONE this week. It was a GBPAUD trade. Supported by the macro picture (well respected rising trendline/channeling + 5830level holding several times) I entered long above 5880. I was waiting for confirmation on M30 close which eventually came. It went up towards 5930 and retraced back below my entry POINT. After that it was slowly making HL and while I was asleep reached my target to the pip at 1.6000. The problem was: I forgot how big the spread was and had my target at 5998 instead of 5995 since higher BID’s are taking TP out. Well, when I woke up the trade was 30pips down from my TAKE PROFIT but not BEING TAKEN 🙁 – scheize! Bit mad at myself I decided to close 3/4 of the position and hold the rest until it reached 1.6000again. It did! 2R from 2.3R expected there overall.

Have a great week and enjoy the pro-longed weekend.