Last week of March rounded up a very good month for me results wise. Was very nice for my confidence going forward even though I still haven’t reached new equity highs. It shows me that my goal for this year is still very doable and I have no reason to make any drastic changes to my approach or anything. So here is how it went.
As you see I took 3 trades, all FTBs 2 losses and 1 winner. Pips wise it doesn’t look too great but because of my percentage based approach it was only just below break even. This was because my winner had a decent Risk reward and the second position locked in a fair amount aswell so it added up nicely. The second trade, in heinsight I could have had some reason to put my target there but at the end of the day there isn’t much I can do about it apart from learn and move on. Aside from that a quiet week for me and it’s time to prepare for the next quarter. So how did some of our predictions play out from last week.
Last week we spoke about a potential short after a pullback into the red zone (see right here). We discussed the pros and cons of this opportunity and now we have our pullback. As you see we double bottomed which wouldnt have been a bad trade to the upside and we reached our killzone. We then pushed down but not low enough for a retest of lows. Targets could have also been on the first line and I would actually take target there now if I was to be involed. We still havent invalidated the opportunity but in my opinion it looks slightly worse than before after what has happened.
The other opportunity we took a closer look at was UsdChf short. We did break down from the channel a bit and actually hit the red line which was out initial target on that wick. It might have been difficult to be involved in this one but depending on whatver rules you have you might have. Looking at the daily right now we are putting in a flag pattern which breaks down typically so I would expect a push down again and this time potentially off the red zone. However on the 4hr to me it’s just consolidating now and I personally wouldnt get involved until we have another break of some sort and a pullback.
So there it is, a quick week with not much to talk about and not much development on the opportunities we looked at from Monday but it is all about keeping an eye on them and learning every way you can. The next post will be my quarterly review hence this coming out a day early so make sure you check that out as I promise you not many people would show you what I will.
Thank you for reading and hope you found some value in the review and analysis, check out my Instagram for more updates, analysis and more.