Weekly Review 8-12th April 2019

Welcome to another weekly review. This week if you have been following me was a bit hectic the first 2/3 days due to some personal reasons. Even so I managed to be at the charts to execute things properly and not miss any opportunities. It has been another slightly frustrating week just because it feels like most of the boom period in March has been taken away within 2 weeks and it has a been a long drawdown. Without further ado here is a look at this weeks results.

4 Trades 3 loses and 1 winner but not a huge dent in the acount as youd expect. Why? As the first trade was a reentry into last week’s GbpAud continuation there was already smaller risk on there so it didn’t make much of an impact. I did prepare and expect a loss from it in the end but had to take it nevertheless. Moving to the 2 FTB setups. The top right was on EurUsd and because of my bullish bias which was fairly strong I decided to reduce position size from the usual 1% to a bit less which is within my rules and its one of the first times I’ve done this properly but saved myself some money on it which I’m happy with. The FTB on bottom left is always annoying when it occurs. Why? Its frustrating when you just get triggered in but price literally gives you no hope and just looks like a trade you were unlucky to be triggered in. Now of course it is something you accept as it is part of the system and can be avoided with something like a later entry or more confirmation but pros and cons of them things. Lastly was the winner on GbpUsd bottom right. Technically it is a bad trade and you might think I’m being a bit too strict on myself afer the explenation but end of the day it is as simple as not followed rules = bad trade. Initially this was a Bat pattern hence I had my orders on the 88.6. However as price develped it turned to a gartley which meant that my entry should have been higher. Now yes I got a better price into the same trade and won a bit more than I should have but I know for a fact that if price just missed entry and reversed and I saw that it was a stupid mistake I would be furious with myself because of a lack of concentration at the time.

On the Euro I did have the prediction of it going higher from that head and shoulders but at the end of the day it didn’t play out to a way which would have allowed me to get involved but the prediction playing out gives me confidence in myself and my analysis and we just move on to next week.

That was my week but what prediction did we make on Monday. We looked at NzdUsd going to the lower level and bouncing off that. You can check the full prediction right here for more detail.


As you see we ended up touching that zoneand bouncing off it. However was it something youd take. Personally I wouldn’t have had any reason to based on the previous push up which also didn’t come as a surprise as mentioned on Monday aswell which reduces where my target would have been. It’s interesting we actually held aswell on the swings which gives me an indication that it will carry on a bit higher.

I did also post 3 quick patterns to put on your radar but literally none were triggered so there’s the realit of trading. They are still valid but a bit far from entry now. So that wraps up this weeks review, still waiting to start winning I guess but can’t do much aside from sticking to the plan. Hope you found some value in there and saw something insightful which may have helped you out in your trading. Be sure to follow me on Instagram and keep up with more of my journey and insights into what I’ve learnt.

Lach

Published by Lach Plays Trading

I'm a forex trader whos journey began January 2018 and has had its ups and downs but has taught me a lot about the markets and myself as a person. Documenting my journey and sharing my experiences for you to be able to learn from them and my prior mistakes. Fully transparent, not afraid to show losses or speak exactly what comes to my mind.

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