EURUSD LONG

EURUSD - LONG

Date: 16-May-2020

Win / loss: xx pips

Entry type: risk entry / reduce risk entry

Grade: valid / not valid / high probability

Status: forecasted / executed / missed

Was this trade forecasted before : yes / no


THE SETUP MEET ALL MY CRITERIA AND PLAN

a. Pattern within the pattern

b. 3 touched

c. Double top (2 touched)

d. Arc formed

e. Red/Yellow reversal candle (engulf), ensure it closed in TF in 15 Min or 1H

f. Checking risk reward and order level with regards to ROI


TRADE ANALYSIS

Looking at EURUSD, price is contained at the bottom of the structure looking to form Ascending Channel, more than 3-4 touched which indicated price rejection as strong support is there


PSYCHOLOGY

Good overall psychology, nothing to much to report back, clear frame of mind throughout the day


REASON FOR FORECASTED / EXECUTED / MISSED

Being watching this pair since last 2 days, waiting for best entry level


TRADE MANAGEMENT

Managing this on more of medium basis, need to provide trail stop for the trade once above 1%, Ensure to execute this trade solely according to my trading plan only, with regards to increase my confidence further and allow me to act based on my plan


EMOTION AND LESSON

Utilize the discretion at key area’s value, because this is where the priority should be the structure vs the candle formation Managing this on more of medium basis, need to provide trail stop for the trade once above 1%