Weekly Trading Review (week 4)

EUR/USD Hourly

Triple divergence, price in the target zone (fibo expansion 61.8-100), momentum change from green to red, a fractal at peak but i can't see any divergence bar so that's 4 out of 5 magic bullets presence.

Price starts to go down to point X, then it goes up until it comes back down and breaks fractal x, but I didn't take this fractal breakout, because it's too short. I like to wait until 2-3 fractal is formed and a tight price pattern.

Price continues to go down, another fractal breakout (fractal no 1), didn't take it, too short, until it creates a second fractal (fractal no 2) then it moves up until point z, went down again (forming a bearish divergence bar meaning selling pressure is on) and break fractal no 2.

Enter sell at 1.4146, until i got stopped out at 1.4094 (tighten up my stop using five bar trailing stop instead of green or red line, price was in fibo 38.2-50 retracement, where a wave 4 normally end), a total profit of 52 pips..

If you're aggressive you can take each of the fractal down breakout and still make a nice profit, but I'm looking at it as a wave 4, so I don't want to be too aggressive in this wave. I was hoping price to go up and take the last high but turns out it only peak at point A then it went down again. We'll see how it goes on monday, right now i'm totally lost, wait and see time until next opportunity.. :)

"Don't worry with the trade you missed, prepare with what's coming ahead, there will always, always another opportunity"