Trade Results 06/02-10/02
Hey guys, so im back with another trade journal of mine. Its as i always say, always keep tabs on your trade history, by any means.
Eventhough i had a clear path set out for this week, it somehow turned out to be a real challenge for me, because each and every single one of my trade went into losses. I always say that i wont let a loss keep me from re entering the market, but somehow, each and every single day of mine closed up with a loss. I did make peace with each and every single loss i went in this week, but i feel i have to talk about it, and reflect abit on this week.
So first things first. As i spoke of last week, the market was gonna go into a clear bearish move, but if we look at the 1hr chart we see the market making a bullish impuls after rejecting the $12450 zone, continuously, but then it reacted to the $12770 zone also. Basicly it was a zone where the price reacted a couple times. If we look even further, we see another reaction to the $12680 zone. So the market was constantly going lower then before, which was a clear sign, that we were gonna get the much anticipated bearish move.
Somehow all the trades i took, were based on the alternative i spoke of, that was not likely to happen. Somehow i got caught up in the moment to ride the bullish moves, i lost sight of my initial analysis. Thats where i lost all my trades. The market dynamics were clear, but we went in the losses. Seeing as how i got caught up i the moment, i lost my trades, i also saw another important thing. The key zones the market react to. So ive been observing also, and i realised that if the price reacts to a key zone, the higher the timefram, the stronger the reaction/reversal. My initial analysis was based on the 1D chart, and we saw the reversal imidiately, and also how strong the reversal is. So focussing on the keyzones while trading is also from high importance, because we anticipate reversals there.
Marketdynamics are one thing that came into play also, but ive realised also that having the right balance between the marketdynamics and your analysis is really important. Its as i said;
Marketdynamics show us the change in the market and whats it doing as is, while your analysis is about the anticipation of where the market might go.
If i zoom out the chart to the 1D timeframe, this is the following that i see;
We have a double top formed as the price reversed at the keyzone $12770
The price is currently on the EMA, and it also retested the $12230 zone/Support
I expect it to continue downwards until it hits the $12000 zone, because thats where the buy zone sits. But of it does not continue, we and the pinbar officially closes above the EMA, and rejects the EMA, we will get the bullish move earlier.
Until then, i guess i will wait and see. If the price continues downwars, we will be looking for a sell, and then start riding the wave again upwards.
Until then, we will observe what happens.
Happy Trading📍
Eventhough i had a clear path set out for this week, it somehow turned out to be a real challenge for me, because each and every single one of my trade went into losses. I always say that i wont let a loss keep me from re entering the market, but somehow, each and every single day of mine closed up with a loss. I did make peace with each and every single loss i went in this week, but i feel i have to talk about it, and reflect abit on this week.
So first things first. As i spoke of last week, the market was gonna go into a clear bearish move, but if we look at the 1hr chart we see the market making a bullish impuls after rejecting the $12450 zone, continuously, but then it reacted to the $12770 zone also. Basicly it was a zone where the price reacted a couple times. If we look even further, we see another reaction to the $12680 zone. So the market was constantly going lower then before, which was a clear sign, that we were gonna get the much anticipated bearish move.
Somehow all the trades i took, were based on the alternative i spoke of, that was not likely to happen. Somehow i got caught up in the moment to ride the bullish moves, i lost sight of my initial analysis. Thats where i lost all my trades. The market dynamics were clear, but we went in the losses. Seeing as how i got caught up i the moment, i lost my trades, i also saw another important thing. The key zones the market react to. So ive been observing also, and i realised that if the price reacts to a key zone, the higher the timefram, the stronger the reaction/reversal. My initial analysis was based on the 1D chart, and we saw the reversal imidiately, and also how strong the reversal is. So focussing on the keyzones while trading is also from high importance, because we anticipate reversals there.
Marketdynamics are one thing that came into play also, but ive realised also that having the right balance between the marketdynamics and your analysis is really important. Its as i said;
Marketdynamics show us the change in the market and whats it doing as is, while your analysis is about the anticipation of where the market might go.
If i zoom out the chart to the 1D timeframe, this is the following that i see;
We have a double top formed as the price reversed at the keyzone $12770
The price is currently on the EMA, and it also retested the $12230 zone/Support
I expect it to continue downwards until it hits the $12000 zone, because thats where the buy zone sits. But of it does not continue, we and the pinbar officially closes above the EMA, and rejects the EMA, we will get the bullish move earlier.
Until then, i guess i will wait and see. If the price continues downwars, we will be looking for a sell, and then start riding the wave again upwards.
Until then, we will observe what happens.
Happy Trading📍
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