The Last 3 Trades I Took- Check Out How They Turned Out
by: Colibri Trader
In this article, I will walk you through the last three trades I took. I have shared with you my analysis on those potential trades. I will quickly walk you through what went wrong, what went right and how it could have been improved.
-First Trade was based on a setup that formed on the 15th of June- you can check it out HERE. There was a pinbar and a bearish engulfing pattern on the daily timeframe. The price did bounce-off the intraday support level at 12,625 and then I was looking for another good short entry around the resistance level at 12,900. There it formed an inside-like bar on the daily and a bearish engulfing on the 4H chart. I managed to get into a short trade on the 20th at 12,870. I placed my SL at 12,970- just above the nearest swing high. Check out the 4 Hour screenshot below:
I am still in this trade and the daily timeframe looks bearish. We might actually be in a correction mode that could lead to a major sell-off.
-The second trade that I wrote about HERE could have gone better. It looks like I rushed a bit with this one. The daily timeframe was definitely showing a bullish bias, though. There were all the factors aligned, but price decided to dip one more time lower before actually exploding to the upside. I have lost on this trade- traded at 1.4150 with a stop-loss at 1.4050. As you can see from the screenshot below, my long trade was stopped-out- price went down to 1.4018. This was enough to just get stopped-out before I saw this massive up-thrust to 1.4322 currently. I can easily see price going up to the 1.4800 resistance area. Have a look at the daily chart below:
-The third trade took place on the EURUSD. I went long at 1.1189. My stop loss is just 1.1100 and currently the price is 1.1341. I did not take profits at 1.1300, because it looks like the price might break through this level. It might reconfirm or reject it and that’s where it is crucial to pay attention. If I see price action rejection those highs, I might consider taking my profits. If I see price action rejecting the 1.1300 level, I will leave this trade to run higher. The next potential target is 1.1600. I believe we will see a correction of some sort before that happens, since price does not travel in a straight line. Today was an exceptional day. Only from this trade I am around 150 pips in profit. Let’s see where price will lead us. Have a look at the daily chart below:
A lot can be learnt from looking back and analysing our trades. What went wrong and what could be improved. Altogether, I am extremely happy how those last 3 trades went. I did everything according to my trading strategy and it worked awesomely well. The only loser was the CHFNZD trade, which could have gone right if a wider stop-loss was used. Since I don’t like the “what-if” scenarios and I try to stay as away as humanly possible, I accept this as a trade that did not work out. Not all trades will be successful; what matters is that the we let the winners run as long as we possibly can.
Check out my recent article Why Nobody is Talking About Time in Trading
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