MyJournal 18 - 22/12/23

٢٦ ديسمبر ٢٠٢٣

Losses comments:
- Tuesday, opened 2 positions, both losses on both pairs
Lesson learnt:
>Tuesday, open only 1 position & 1 pair, as weekly structure unconfirm
>Wednesday, open 2 positions on Tuesday's losses (if we still expect the same weekly structure)
>This offers us tighter SL, with greater RR
>Thursday, if Wednesday still loss, open another 2 positions on Wed's losses (if we still expect the same weekly structure)
>Thus, max loss @0.25% x5 = -1.25%, if -6%, still need 5 straight week loss


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Fundamental:
a) FED rate pause, sentiment continue, 2024 FED expected to cut
b) XAU strong fundamentally

Opportunity of DXY's pair, USDCAD Technical:
- Last W1 chart bearish, this week still expect bearish at least to 1.325-1.320
- Weekly typical structure, D1 chart Monday/Tuesday bull to 1.345-1.340 before peak & turn
- Weekly typical structure, D1 chart Tues/Wed expect to bear to target
- Weekly typical structure, D1 chart Thurs/Fri expect to bear to target
*check DXY chart to confirm the thesis
*15M chart- Execute, Breakout/Pullback


Additional bias:
a) Round psychology number 50/00
b) WeeklyTypicalStructure:
-anatomy of candle, price always push to other side first before making real move
-midweek reversalrejection/continuation > BuyBuy*SellSell / SellSell*BuyBuy
c) Daily Candlestick Pattern: doji, engulfing, insidebar/railroad
d) TakeProfit TP / StopLoss SL
Depends on:
-fundamentally / what are the news saying
-liqiudity pool at Daily/Weekly/Monthly where
-averageDailyRange ADR
-catch explosive move only if direction align with weekly high low bias.
Eg. Previous day was bullish doji at daily support & it is mid of the week, do catch today explosive move to next weekly liquidity pool.
e) Entry timing recommendation
-session LONDON, NY 9-12PM GMT+8
f) Entry with discount price, use fib