Trade Review October week 2

There is nothing much I could say about this week. But it could have been better, Still not a clean trade but its been a good week. THe EURUSD bearish sentiment was spot on, most of my trade were shorts this week. There are other currency pair that I traded , USDCHF, GBPCHF, EURAUD, EURJPY, CHFJPY , GBPUSD and EURUSD . But for simplicity purpose, I will show my favourite pair the EURUSD.

October_week_2

Starting Monday this was shorting the pair at supply freshly formed with an engulfing. Ignore those circle colored stuff, there are just high lows for the day. Then the following day high selling a newly formed supply. A pin bar within the session I always monitored. Sold it there as soon as the next day asian session high and held it till Thursday. Long and closing sell after it reaches the 4H demand. Evidence was the low it created and the strength of rejection, signifying High demand exceeding supply.

 

I entered Long after it signifies engulfing after that small doji. Its communicating me strong buyers are in after reacting to that demand.  And finally Friday ending the week closing at the freshly new formed supply ( which it didn’t formed only after I sold it ). I sell it before Friday close and settle it just near its low. I sold it as it went back to the 4h supply ( red line box ). I use the 30 min entry . Once I manage to get more than 1: 3 RR, I am done.

Price is driven by the Demand and supply equation. R u willing to buy against fear or are you willing to sell against greed ? There is no mistake it trading demand and supply, where price will always turn. It is where big institution make their order into the market.

 

I hope you all did get a few pips this week. Remember, there is always limitless opportunities everyday in the market. You just need to know where to find them and quantify where demand and supply are.

 

have a great weekend.!!

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2 thoughts on “Trade Review October week 2

  1. Michael says:

    Hi Haji, My charts are starting to look like yours when I am done trading. I am practicing plotting the supply demand areas and found that the more significant ones are on a 15, 30, 60 and 4 hour chart. Is that your take on it also. I find if supply and/or demand areas coincide with these time frames they show more power or significance. Thanks for always showing your trades. I learn every time something new when you do this.
    Have a great weekend.

    • Haji says:

      hi michael. Normally if the larger time frame supply demand is present, within those larger time frame there is always a smaller time frame supply demand in it. so hence yes, you ‘re right, it is a high probability and that coincide with the odd enhancer requirement.

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