January 28th, 2019, Monday Asian Session
AUDJPY
-Buy
-Setup 1( trade off the high/low of day)
-oversold stochastic
-no reversal indicator
-4hr/1hr level
-No news catalyst
-Aim for 10 pips, put trailing stop
(LOST the trade)
Here's why
-AUDUSD AUDJPY NZDUSD were all down trending
-USDCAD was up trending (opposite correlation)
-Stochastics weren't matching up, at one point at 4 pm PST time USDCAD was overbought with AUDUSD AUDJPY NZDUSD
Lessons & Notes
- Was profiting on AUDJPY didnt put trailing stops because wasn't at 10 pips, but didn't put trade on live account only on demo because of uncertainly instead of making money I wanted to learn something
-Could either get of of trade on opposite side of stochastic (overbought -> oversold= sell) (oversold -> overbought= buy) but we'll seek a exiting strategy ASAP
-Look to define Low/ high of days VS. intraday levels
-Read setups more clear and attempt every setup scenario
AUDJPY
-Buy
-Setup 1( trade off the high/low of day)
-oversold stochastic
-no reversal indicator
-4hr/1hr level
-No news catalyst
-Aim for 10 pips, put trailing stop
(LOST the trade)
Here's why
-AUDUSD AUDJPY NZDUSD were all down trending
-USDCAD was up trending (opposite correlation)
-Stochastics weren't matching up, at one point at 4 pm PST time USDCAD was overbought with AUDUSD AUDJPY NZDUSD
Lessons & Notes
- Was profiting on AUDJPY didnt put trailing stops because wasn't at 10 pips, but didn't put trade on live account only on demo because of uncertainly instead of making money I wanted to learn something
-Could either get of of trade on opposite side of stochastic (overbought -> oversold= sell) (oversold -> overbought= buy) but we'll seek a exiting strategy ASAP
-Look to define Low/ high of days VS. intraday levels
-Read setups more clear and attempt every setup scenario