I completed 8 trades during the week. Three (3) trades were positive, three (3) negative and two (2) breakeven. I was behind for most of the week, which led me to make two (2) impulsive trades. However, overall the week were more or less breakeven where I made a meagre +0.116% gain.
Here were the trades.
USDJPY (-0.97%)
At the time when I made the trade, daily chart showed that USDJPY was in a MT bear trend with a potential bearish harami candle at the downtrend line.
I was therefore expecting a top reversal on the H4 chart although the ST trend was bullish. I entered short at 112.75 with the stop loss placed at 113.15. The trade did not take long. The downtrend line was broken and I was stopped out at 113.151 for a -0.97% loss.
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| USDJPY Daily Chart |
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| USDJPY H4 Chart |
SPX500USD (+0.016%)
SPX500USD was in a corrective structure within a bull trend. It was correcting after the upside breakout the previous week. I entered long at 2390.7 with an initial SL at 2385 and TP at 2404. I moved the stop to breakeven (BE) after the trade was in profit by the initial risk. It did not continue to move up though but instead moved down to hit my BE SL at 2390.8 for a meagre +0.016% gain.
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| SPX500USD H4 Chart |
EURAUD (+0.25%)
This was a pullback trade. EURAUD was in a bull trend and was correcting to its role reversal level at 1.4716 on the daily chart. I entered long at 1.47294 with an initial SL at 1.4663 and TP at 1.4865. The trade moved up and I moved my stop to BE after it was in profit by the initial risk. Later the trade reversed and formed a bearish engulfing candle. I moved my stop to below the low of the bearish engulfing candle. The trade broke the low of the bearish engulfing candle and I was stopped out at 1.47468 for +0.25% gain.
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| EURAUD Daily Chart |
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| EURAUD H4 Chart |
EURAUD (-1.02%)
This was an impulsive trade. I made this trade after my earlier EURAUD was closed. I had a strong urge to buy EURAUD after being stopped out for a small gain. When EURAUD showed sign of moving up, I bought at 1.47486 and placed my stop at 1.4694 and TP at 1.4885. The entry was sloppy and I was stopped out at 1.46932 for a -1.02% loss.
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| EURAUD H4 Chart |
SPX500USD (0.0%)
SPX500USD was still a corrective structure within a bull trend but its support level was lower. I entered long at 2386.4 as it rebounded off the support level. My initial SL was at 2379.4 and TP at 2401. The trade did move up until it was in profit by the initial risk to allow me to move my stop to BE. However it later reversed and hit my stop at 2386.4 for a BE trade.
This was the 3rd time I had BE trade on SPX500USD.
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| SPX500USD H4 Chart |
USDJPY (-0.57%)
This was an impulsive trade. I was negative for the week at that time. I entered short at 113.642 with an initial SL at 113.89 and TP at 113.1. I closed the trade manually at 113.815 for a -0.57% loss
before my SL.
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| USDJPY H1 Chart |
EURUSD (+2.16%)
EURUSD was in a corrective structure within a bull trend. I entered long at 1.08636 with an initial SL at 1.0835 and TP at 1.0930. I later moved my TP to 1.0990 when I noticed that EURUSD upward move was rather impulsive.
I took partial profit for half my position at 1.09301 for a 1.16% gain. I trailed my stop for the remaining half and it was stopped out at 1.09209 for a 1% gain. Overall I made 2.16% from this trade.
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| EURUSD H4 Chart |
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| EURUSD H4 Chart |
GBPUSD (+0.25%)
GBPUSD was in a corrective structure within a bull trend. I placed a buy limit order at 1.2865 after the support level appeared to be holding. My buy order was filled at 1.28649 with an initial SL at 1.2825 and TP at 1.2955. When the trade showed a potential negative movement, I manually closed the trade at 1.28748 for a 0.25% gain.
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| GBPUSD H4 Chart |
Disclaimer:
Trading and investment involves risk, including possible loss of principal and other losses. I shall not be responsible for any losses or loss profit resulting from trading or investment decision based on my posting and any information presented in this blog.
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