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"

Weekly Trading Review (week 2)

EUR/USD Hourly

My favorite pattern, price peak at point X (there's a divergence between AO and price at 61.8-100 target zone) then it moves down to point Y, create a tight base, then it continue to go up again until it peak at point Z before going down and break fractal no 1 (it just like a zig zag abc correction).

Enter sell at 1.3953 until i got stopped at fractal no 2 breakout at 1.3910, a total profit of 43 pips

Then I missed the next down move T_T (a potential 100+ pips). Oh well still need to be grateful, 43 pips is not bad. I thought it's a wave 4, and i was waiting for a wave 5 up, but the price continue to go down and break the 61.8 fib. Now I'm totally lost with the wave count. Time for wait n see for next opportunity :)

Monthly (February) Wrap up

Made a total of 195 pips last month (February), simply by waiting patiently until that nice setup, a saddle point occur. Also had one counter trend using the 5 magic bullets. A good start for the year, hopefully it'll continue making consistent profit throughout the year.

There's not much a saddle point lately, but experience teach me, you just have to wait, patiently. I know, sometimes it gets boring, we want to enter the market, coz as a trader we love to trade. But you need to wait, and stick to the rules. For me personally, this is the holy grail, help me make consistent profit...

Only when i have collect enough pips, then I'll try experiment with other things. But for now I'll stick with the saddle point, hourly chart and the 5 magic bullets.

Well we see how it goes in march..