( -40 , -35, -45, + 15 2nd round : -100 , -130) week12 GBPCHF potential 4 x h1 1234 bull trap A trade

Monthly

Big picture suggests that price is trying to play the fib5 n fib6 of this downflow.

week12 GBPCHF Mn big picture fib playing 190314

D1

there is a huge W1 1234 down and this consolidation is manifested in the form of a 12 months ED channel.
Last week, this has been broken a 13TL is completed.

week12 GBPCHF D1 Ed channel 13Tl 190314

h4

This ED channel is 13TL via a bearish expansion week.
There might be a potential 1234 setup which will go with ED channel being broken.
This will be my next A trade.

week12 GBPCHF h1 4 xh1 1234 bulltrap 190314

updated 220314

Positions entered. Considering to add more on more confirmation.

week13 GBPCHF h4 EP positions 220314

updated 250314

Fumbled on exit for this A trade.
AFI: The next trade when I see that it is almost going to turn sour,
I must remember to check on the confluence of resistance that may still act in favour of my trade bias.

STAY CALM, and do not cut hastily.

updated 260314

in the end, this trade went horrendously wron; one of the worst trade for a while.

Entered 2nd round, on seeing a d1 shooting star. However, this shooting star failed eventually.
For the duration of this trade , i was very uncomfortable. My entry was from a fib5 limit order entry hence i was selling from ASSUMED resistance. It made me uncomfortable, for the fact that the shooting star came from the middle of nowhere as price seemed to be stuck in consolidation.

So this trade will be an example of :
1) d1 shooting star gone wrong
2) Feel of ‘A’ trade is not good; check A trade checklist for confirmation.

Eventually , I traded with a 2nd round entry as a show of conviction for this A trade, which did not turn out to be good at all! So was it revenge trading or a show of conviction, I will need to reflect on this. Definitely, both ‘feel’ and points for checklist were not better than the A trades of HSI and EURAUD examples.

week13 GBPCHF h4 actrocious trade 260314

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