Review of week 42: Market turning & and a reminder to play momentum together with trend

EURGBP – 50
EURSEK : +50

NZDCAD : -80

CHFJPY: +90

NZDCAD is a trade which helped me to think about if momentum is still aligned with the trend or not.

Pre-trade setup

I got the direction correct and prepping to play off the wrmb wtt was correct, as I could not see any magical lines.

week42 NZDCAD h4 wr2b line chart WTT 141014

Trade outcome

On hindsight, the jagged up and down days resulted in a loss of momentum, or to be mroe accurate, the momentum was not with the bears anymore but the bulls. Observation of a good test , will then be the life-saver that can prevent this trade from turning into a loss.

A good test and a gd close below the 2 h4 pivot should then be what I have to wait for.

week42 NZDCAD trade outcome mistake review 181014

What then is an example of ” with trend , with momentum”?

CHFJPY h4

h4 boxes down , and h1 boxes were down also. In successive down weeks boxes were down. hence when one of the h1 box seemed to be up during the day, I took that as a intraday bulltrap which aligned with overall down trend and momentum.

week42 CHFJPY h1 1234 within channel 151014

trade outcome

Managed to TP this and hence shall be using this as a good example of what I need to continue to do in order to be successful and profitable. Continue to sieve out the simple markets, and trade them.

week42 chfjpy trad outcome +90 181014

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