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PA, partial PAs and optional trades. . .lets c.. .
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n others. . .with workspace n occupied transactions...
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Reasons...
# A 13 candle price consolidation...a breakout of it should be violent...either way up or down...
# When the transaction was executed...the daily bar was a IPB(IPBs normally got a small stop-loss)...onto a retrace of a BEOB couple days before. . (Other trade never executed because of the inflation news). A simple 1:1 or 1:2 RR trade...in this instance it was 1:2.65(RR is on pips not on cash ).
# NZD had a bad inflation report...Only looking at EUR...it was hammered poorly and was able to close below 1.43 nicely with no retracement that ought to shake traders confidence...to days price move proved it( my trade was not executed...as I was anticipating a small retracement with this pair)
Should have...
# If have expected the break-out earlier...and place a different sell order at 0.7310 which could yield a 1:1(100 pips) readily.......
# Move into break-even and allow the price move to 50 percent retracement of the previous bull move... (An extra 50pips)(Reason to not do so...a PPZ in 38% retracement)
Should not have...
Should not have waited for almost any retracement...as it's done all of the retracement in small time frames (eg. 1hr).
Note: A basket trade of EUR, GBP, AUD, NZD, CAD, CHF short against USD and JPY would have return approximately 700 pips and 825 pips respectively with quite modest drawdown. (Reason-- why not usd/jpy? Moving up...do not know...may be it is going to do the retracement tomorrow on all JPY crosses)
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Done for the week...
up to now about 325 pips after exchange price from 2 transactions 3rd 1 on break even...could have grab 80 pips ahead of the autumn...any way was not in the front of the pc...can't blame any ...thanks fortunately stop-loss was on break even...!!!
Mistakes of the week proved to not take the USDCAD (200pips), EURUSD (250 pips) and GBPUSD (200 pips) each with two% risk would have been 1:2 RR trades.
Learning out come will beâ€watch out for them in future.â€
May scalp ...
GBP-gt; anticipating UK retail revenue going to come negative...thus trade plan would be sale it and buy it to cover shorts until the week-end...
EUR-gt; it shaped a PB(maybe not an impressive one but only of those 1.40 round number...so it is on watch list) plus EURGBP shaped a 2day PB...thus trade plan would be to watch to get a break-out of the PBs...for long transactions or go long at 61% of the PBs and combine a short covering rally until London close. (there may not be a short covering rally tomorrow....because of those 4hr BUOB about 1600GMT )
15-25 pips 1-3 transactions...risking 25 pips from these 325 pips of this week...
A snap of the announcement...
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I was not good at TP. . .where ought to be the take profit. . .hmm. .for 4hr/day TF trade and in the event the day ended as a BUOB then just below 1.42(1.4180). . .lets watch...
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