Hello everyone: Welcome back to another quick weekly trade recap video 🙂
This week I took 2 additional trades, and closed down 3 positions. Lets take a look AUDCHF – Closed for 2% profit. Profit broke down from the correction, I first moved the SL to BE then in profit.
As LTF formed that descending channel reversal, I moved my SL to 2:1 profit and eventually tagged me out. AUDJPY – Closed for 1% profit. Similar approach and management like AUDCHF . Price broke below the correction it created, first moved my SL to BE and then to 1:1 profit.
Eventually prices reverse up after failing to break below the HTF structure. SUGAR – Closed for 2% profit. My original plan was to hold the trade for longer term, but as price is getting into this deeper correction, I don’t tend to want to give back all the profit back to the market. LTF formed a H and S pattern within the correction, and I moved up my SL to 2:1 profit.
Even though I am tagged out of this position, I still hold a strong bullish bias that price can continue, but did not want to get stuck in the consolidation phase. BTCUSD – Still holding, currently 4% profit. Price may be completing this HTF continuation flag structure, and we can potentially see more upside. Any questions, comments or feedback please let me know 🙂 Enjoy your weekend 🙂 Jojo