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Gamera

Testing Times.

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Actions for the 1st.  Made a mistake with trade 1 and trade 2 was pretty standard, after that I just couldn't make heads or tails of what the PA was doing so gave up after lunch.

nq010820181min.png

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Actions for the 2nd.  I wanted to take more trades but found myself being precious after trade 2 and doubted my thinking which led to me sitting on my hands on some good setups.

nq020820181min.png

nq02082018notes.png

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Actions for the 6th.  Started off with some poor reasoning on my entries, had a couple of losers then finished with a trade that was a proper entry and management trade for a win.  Who would have thought following the plan would work?nq060820181min.thumb.png.1d44e9ff6e9644e5004e3dc575a0bea1.png

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Actions for the 7th.  Still overly reliant on volume to give a heads up, its good for climactic behaviours but outside that it can make it a little harder to follow.nq070820181min.thumb.png.3ba8bfef539727c69e8245e8863e4a5f.png

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Actions for the 8th.  Seemed like a possibly choppy day which led me to bailing on the trades after the impulse move post entry.nq080820181min.thumb.png.74c3b2825fa1939f3b8059020d3c55a0.png

Edited by Gamera

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Actions for the 9th.  Despite noticing and feeling that the PA was sloppy early on I continued to try and make something of it, I sat out for a bit after trade 7 but still ended up getting tangled in a trade that I should have avoided (trying to make something of marginal PA).nq090820181min.thumb.png.77519273b50ac684a2f94b5d101a1ec8.png 

Edited by Gamera

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Actions for the 16th.  Price was choppy and indecisive and I knew it at the time but tried to make something out of nothing, all trades scraped the bottom of the barrel.

nq160820181min.thumb.png.ca30f5b807d76bc483658b0fdb918627.png

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Actions for the 17th.  I was not being as attentive as I should have been early in the session, I then felt out of kilter and decided my safest bet was to sit on my hands as I was a little too frustrated to trust my thoughts.  Despite the negativity it was an interesting day.nq170820181min.thumb.png.a8f59917f6ab22a98c0c84dfd043e0b0.png

nq17082018notes.thumb.png.c2d83b22e8c6000e84c1a29fd8642f79.png

Edited by Gamera

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Update to the daily time frame.  Not 100% sure what to make of where PA is at the moment, there is a possibility that in the short term price has found support around Wednesdays low which is in the area of the last daily swing Lo-Hi MP, and despite heavy volume on two attempts price could not drop this level.  On the other hand price showed weakness as it moved towards the ATH and stalled on lighter volume before dropping on increased volume, could this be the start of things to come?nq20082018multiprep.thumb.png.ca29a9e35195a3b5c810b5eb4b800f96.png

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    • USDCHF Faces Further Weakness On Close Lower USDCHF faces further weakness on close lower following its past week losses. Resistance comes in at the 1.0050 level. A break of here will clear the way for more gain towards the 1.0100 level. Above here, resistance lies at the 1.0150 level and then the 1.0250 level. On the downside, support is seen at the 0.9950 level. A turn below there will set the stage for more decline towards the 0.9900 level. And then the 0.9850 level. Its daily risk is bearish and pointing lower suggesting further weakness. All in all, USDCHF faces further downside pressure on price pullback threats.
    • While at the gym today, I remembered that I passed on 2 trades this morning that both turned out to be high runners. I literally had the thought "this one is no good" as if I would know the future.  It's easy to overlook it but this is where the awareness and probabilistic mindset comes into play. I realize I have been trying to filter out losers instead of taking the setups. Next week, I will focus on taking all trades instead of filtering. 
    • I traded alot today. 9 trades, 8 losers and BEs, 1 runner that paid for them all. Gotta keep swinging! totaled 240 bps before commission. The first winner on W, I did not count - it was a mistake that led to profit. I felt like a machine, kept pulling the trigger, watch the 1min chart, see it doesn't go anywhere, take my small loss... over and over... then one takes off... Let it run... the whole time I was thinking I hope that the one winner will pay for all the losers. I was tempted to close out the winner early. I had no idea that the payoff distribution for this strategy would be so extreme - 8 tiny losses before hitting a big win. Pays to keep the losses tiny and keep swinging. 
    • Date : 22nd February 2019.

      MACRO EVENTS & NEWS OF 22nd February 2019.



      FX News Today Both Topix and Nikkei, declined during the Asian session, with -0.25% and -0.18% respectively. Overall, stock markets in Asia struggled through most of the session as subdued inflation data rekindled concerns about a lack of demand and flagging growth and after Wall Street closed in the red. News that US President Trump will meet with China’s top trade negotiator today in Washington seems to have helped Chinese markets to stage a late rally and CSI 300 and Shanghai Comp are up 1.76% and 1.51% respectively and the Hang Seng also managed to claw back losses and is up 0.11%. US stock futures are posting marginal gains and the April WTI future is trading at just over USD 57 per barrel. USDCAD rallied over 1.32 to 1.3225, as Oil inventories rose, with the US at record production levels. Oil price is now back around the $57 mark. Japanese CPI data same as forecasts, pushing the Yen higher. Charts of the Day


      Main Macro Events Today EU CPI Inflation – Core inflation is expected to be confirmed at 1.1% y/y while the overall inflation rate is expected to have stood at 1.4% in January. Canadian Retail Sales – Retail Sales are expected to have declined by 0.3% m/m in December, an improvement from the 0.6% declined observed in November. Mario Draghi Speech – The ECB President is due to speak to the University of Bologna where he will accept an honourary degree. Support and Resistance
       
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      Please note that times displayed based on local time zone and are from time of writing this report.

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      Click HERE to READ more Market news.

      Dr Nektarios Michail
      Market Analyst
      HotForex

      Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Actions for the 21st. 
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