Weekly Trading Review (week 5)

1st Trade

NZD/USD Hourly

Same pattern as usual, but failed this time. Sell at 7449 and got stopped out at 7525, a total loss of 26 pips..


2nd Trade

AUD/USD Hourly

Just like NZD/USD and my other 5 magic bullets pattern. The trend is up then correct to point x, start to go up again but only peak at poin Y (didn't break the last peak, just like an abc correction pattern) then it went down again and break fractal X, enter sell at 1.0225 but it failed. Decide to follow my instinct and cut my position  at 1.0446, a total loss of 21 pips.

Two bullish divergent bar (BDB) was formed back then, my gut feeling told me to get out, something's wrong, decide to ignore it but still watch carefully until it went up and pass the green line. Luckily it retrace back, gives me no second thought to get out the position before it close above the green line (bar Z)..


3rd Trade

EUR/USD Hourly

The trend is up (based on 4 hourly chart), price making higher low, sideways for a while then alligators mouth open, AO break it last peak, enter fractal breakout at 1.4148 and got stopped out at 1.4207 (BDB), a total profit of 59 pips.

I found that after a sideways market sideways or after the market correct for a while, look closely at the AO, if it change color from green to red to green again and near the last peak (most likely a wave 3), fractal above alligator, and the alligator mouth is open, you can try to buy..

This week made a total profit of 12 pips..