Hii traders, Hope you’re all had a great trading week.
For us, it was just a normal trading week with a 3.5R profit with 4 closing trades.
Here are the trades we closed in the last week.
EURUSD – +1.5R
EURAUD – +0.5R
EURUSD – Breakeven
GBPUSD – +1.5R
With that let’s take these trades and see how we executed with these trades.
EURUSD 1.5R Profit on Short Trade
This is the week’s first trade. First, the EURUSD was clearly in a significant downtrend. The bearish momentum is confirmed by a crossover of the moving averages and the candles turning red.
With that, we waited for a pullback to the D-Res zone, which is the area between the 50 and 100 Moving Average, and the price did eventually pull back to the D-Res zone. All we need from there is a break below the counter trendline drawn in the chart above. As you can see in the chart above, we also got a break of the counter trendline, so we went short with a target of 5R. However, the price was unable to reach our final take profit level, so in the end, price pullback and triggered our Stop loss for +1.5R profit.
EURAUD 0.5R Profit on Long Trade
We had another good trade on the EURAUD after making 1.5R on the EURUSD. Let’s take a look at the trade in more detail.
To begin with, the fact that the moving averages have crossed and the candles have turned green suggests that there is bullish momentum. To place a long trade, we’ll need an area of value, which in this case is the D-Sup, which is the area between the 50 and 100 Moving Average.
So the price action quickly pulls back to the D-Sup, and just like the prior case, all we need to go long is a break above the counter trendline. We entered a long trade on the breakout, as seen in the chart above, and were hoping for a 5R take profit. Although the price moved in our favour for a short time, there was not enough bullish momentum to reach our 5R profit target, so the price reversed and hit the trailing stop loss, resulting in a 0.5R profit.
EURUSD Breakeven Trade
This is the second trade we placed on the EURUSD. As you guys can see this is a breakeven trade.
Just like the previous two examples, we waited for a pullback to the D-Res and place the short trade upon the break below the counter trendline marked in the chart.
After placing the trade price did move in our favour for quite some time but that wasn’t a real bearish momentum we were looking for. Since the momentum is not in our favour, we decided to move stop loss to breakeven and eventually, the price did pull back and hit our stop loss for a break-even trade.
GBPUSD 1.5R Profit on a Long Trade
This is the final trade of the previous week, and it feels nice to end the week with a tiny profit.
The bullish momentum is confirmed by the moving average crossing and the candles turning green, and all we need now is a pullback to the D-Sup in order to look for a break above the counter trendline.
So what happened on there?
Price did pull back to the D-Sup, right? Not only that, but the price movement also breaks above the counter trendline, signalling our entry.
With that, we entered a long trade, and the price moved in our favour for a while, but then it reversed and hit the trailing stop-loss, resulting in a 1.5R profit.
In total, we were able to gain 3.5R in profit in the last week. When considering the Risk-Reward ratio we are trading with, this is massive but 3.5R mean we need at least 3 losing trades in a row to wipe all the profit we had in the last week. Which for the upcoming week we will have some profit buffer in the account and we can freely place the trade.
With that how was your trading week been?
Let me know in the comment section.
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