2 Lessons to learn: Stick to trading hours 2.30pm to 9.30pm GMT+8 Do not trade 30min 2 leg pull back + LH /HL. Only 15m TF
This GBPUSD setup is very similar to this EURUSD setup. Although the LH broke the 2 leg pull back swing low, it was still valid. I think the key is that all 2 leg pull backs and LH must only last for a max of 1 bar (just like the EURUSD setup)
AU long: 2 leg pull back HL. I made a mistake actually. I went long on the intra bar HL, when I’m supposed to long only after a HL of at least one 15m bar spacing. (lesson to learn here…) Let’s see how this goes Update: breakeven
EURJPY long, 2 leg pull back + HL. No VWAP confluence so TP is at nearest pivot (daily R1). Let’s see how this goes. Update: closed at BE. US bank holiday. Not likely to move to TP
Went long on AUDUSD today, took a long time to get going. In the end Breakeven. However I’m glad for my discipline to stick to the TP. i.e. TP placed at nearest pivot if there is VWAP confluence, else TP at the nearest mid pivot/pivot
Lesson to learn: AUDJPY 2 leg pull back high must not break the swing high…even if it produces a HL later..the setup is not valid. See what happened…? There was a fake out…bulls got trapped long. The original 2 leg pull back + HL must be followed exactly! (2 leg pull back correction high must… Read More »
Once again, 2 leg pull back (lower, doesn’t matter higher or lower) + HL TP is first pivot/midpivot because no VWAP confluence.
Once again, 2 leg pull back (higher, doesn’t matter higher or lower) + HL TP is first pivot/midpivot because no VWAP confluence.
Even though the HL broke the 2 leg pull back’s high, it is still valid. See this EURUSD trade. However, I would be reluctant to take this trade because of the VWAP lines all forming prior resistance.