Forex and CFD Trades 26-30 Jun 2017

It was a bad week for me. I completed 6 trades winning only 1 trade and losing the rest. Overall I lost -1.789% for the week.

AUDUSD (+0.47%)

This was the other half of the AUDUSD trade I entered at 0.75448 last week on 21 Jun 2017. It was a fairly smooth trade where I only raised the SL from 0.7510 to 0.7575 but left the TP at 0.7620. The TP was hit on 27 Aug 2017 netting me a +0.47% profit.

AUDUSD H4 Chart

GBPUSD (-0.505% and -0.502%)

Daily chart showed GBPUSD was in a downtrend and testing its previous swing high. I was expecting the previous swing high to hold as resistance. I made two trades on GBPUSD. The first trade was entered at 1.2790 on 27 Jun 2017. I was stopped out on the 1st trade at 1.28304 for a -0.505% loss. The second trade was made after I was stopped out on the 1st trade.
As I was stopped out on a long bearish topping tail candle, I re-entered at 1.2825 on 28 Jun 2017 expecting that the resistance was still holding. I was wrong and was stopped out at 1.28752 for a -0.502% loss.

GBPUSD Daily Chart

GBPUSD H4 Chart - Trade #1

GBPUSD H4 Chart - Trade #2

WTICOUSD (-0.497%)

Daily chart showed WTICOUSD was in a downtrend and testing its prior swing low. I was expecting the prior swing low to hold as resistance and the downtrend to continue. I entered short on 28 Jun 2017 at 43.804 after WTICOUSD formed a bearish engulfing candle on the H4 chart suggesting the resistance was holding. The prior swing low did not hold as resistance and I was quickly stopped out at 44.501 for a -0.497% loss.

WTICOUSD Daily Chart

WTICOUSD H4 Chart

SPX500USD (-0.35%)

As SPX500USD was making a pattern of lower high and lower low on the H4 chart, I was expecting SPX500USD to trend lower at least on the short term. However, I made the mistake of entering the trade too early at 2431.2 before SPX500USD tested its resistance area. I closed the trade manually at 2436.8 for a -0.35% loss.
You will notice that SPX500USD did breakdown and made a lower low after testing its resistance area.

SPX500USD H4 Chart

NZDUSD (-0.405%)

NZDUSD was forming a potential double top reversal pattern after it formed a bearish engulfing candle on the H4 chart. I zoomed down to the H1 chart to find the entry point and entered at 0.72998 after NZDUSD pulled back to the 20sma. It did decline initially but later rallied that I decided to manually close the trade at 0.73322 for a -0.405% loss.

NZDUSD H4 Chart

NZDUSD H1 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.