What a week this one has been. I even got a bit lucky in a sense as you will discover in a little bit. It just happens that these ‘lucky’ little things happen when you are on a positive period but never with you during a drawdown. Despite the fact that I am still with less money in my account than I started with, there is definietely a bit more confidence after the last week or 2. So here is how it went and just like last week I’ll go over it in a bit more detail.
3 FTBs, a Bat and a Gartley this week 4 winners and 1 loser and a decent return on the week. Here is why I am getting that bit more confident though. As you see in the top left and bottom right FTBs price hit target (green line) and then carried a bit higher. Well not my full position comes off then so on my second half I didn’t make as much as the first. However as mentioned last week I will be giving extra ‘weight’ to the first position so monetarily it would actually enhance it which just excites me for the future.
The Gartley on the bottom left was fairly skinny and not as clear but I did see it and it did meet my rules so it had to be taken despite a news event creating high momentum candle rules are rules and I actually had somewhat of a bearish bias then so it made me that bit more confident,
One of the main talking points this week however was the big bat in the middle. Why is there only 1 target and not 2? Why didn’t I get stopped out despite it going past the 113 inversion where my stops are? As this was a large bat in terms of pips risked my position size was a choice between 3 micro lots (0.85% risk) or 4 micro lots risking 1.15%. I aim to keep my risk as close to 1% per trade so I had to make a call which one I went to. I went with the 3 micro lots which means a 2/1 split for position 1 and 2. However even though T2 was much higher up it was less in monetary value so it didnt make sense to have it up there and that is why there was T1 only. The stop however I extended just below the strcture level and 3 pips below the even handle number for safety whcih is within my rules to do and it worked out perfectly to my favour. Not only that but hitting T1 and no T2 meant I wasn’t in any trades and I could take the last FTB which ended up winning. Funny because about a month ago I missed out on an FTB winner due to being in for T2s. So there was my ‘luck’ for the week but I’m not going to push it away and it made it a very good week with just under 2.5% on it.
Weekly Predictions Review
At the start of the week we took a look at a potential head and shoulders on AudCad which almost played out too perfectly as predicted as it didnt allow a realistic entry for me. However if you traded it more aggressively there was probably some way you could have been involved.
As you see price just touched the green box we spoke about and had issues in the orange zone pointed out aswell. There was a H3C on the 15 straight after the touch of the green box which could have been a potential opportunity depending on your stops, targets and RR requirements. For the full analysis on this pair check out the previous post.
I also put 3 potential patterns on the radar of which 1 won 1 lost and 1 you may or may have not been able to be involved at depending if you front run and by how much
So there you have it, that was my second week on here review and you have caught me on a good week and month it seems and lets hope it continues a bit longer. If you have any questions you want me to cover or talk about contact me here or on my social media where you can find more trading related and personal things about me
Thank you for reading and hope you found some value in here and enjoyed the review and if you did be sure to share it around, like and comment.