Update Tradingweek 08/01-13/01
Hey guyss,
So this time i wanna talk about a few aspects i went through this week, so please bear with me;
First of all i wanna talk about the initial anaylis i had on 08/01/2023. Just a short recap, we had a price drop and a price accumulation on the 1hr chart. From that onwards we expected a price break out with a theoreticle break out, and thats exactly what happend. I even marked up the potential price range we were gonna reach, but due to the market volatility on thursday 12/01/2022, we only got half of the expected move. It was a move of more or less 250 basispoints upwards. Looking at all my trades i took this week, i had 2 wins and 2 losses. All of the were calculated wins and losses, so more or less we had a breakeven week. I still have the same bullish bias for this coming trading week, because the bulls should still finish closing the dalparabole/gap. So i expect the market to move all the way to the $12000 mark, depending on the hidden supply zones on the 4hr chart. One thing i learned to be mindful about also during this week of trading, are the dynamic supports that formed on the 1hr chart. On the lower charts the resistance zones told the whole story why its important to time your buy/sell entries, but never to wait for every conformation possible. I learned to just take my trade, and not wait to long, otherwise u end up losing most of the profits that can be made. So i actually already have my zones marked up on the 15min and 1hr chart. All we do now, is wait.
The second thing i wanted to talk about is about taking trades on days where we have Inflation-related news releases. Most traders tend to stay away from the markets on these days, but i think its better to show up to the market each and every single day, eventhough no trades are taken. In doing that you can clearly see what the huge institutions do with the market. The term "Market Manipulation" was a something i was always facinated with, because those who envoke it, have much power over us Retail Traders. So on the 12th i planned to have a running trade instead of an pending order. So tehy day before i entered a market long order, in which i had decent profits already until 10:27 am 12th Jan. I had a calculated R:R ratio, and when the clock hit 10:30, the market reversed within a split second. I got stopped out and the SL also got moved, where i lost twice my calculated risk. They did the money hunt, and stopped alot of people out. After the market stabilized i saw what they did, ultimatedly.
On the 1hr chart, i realised that the market was forming a dynamic support line. On the 15min chart i also saw this dynamic support line, and was starting to form since 11th of Jan. Prices normzally react to these zones. Based on my trade analysis on the 15min chart, i always encorporate a certain EMA of a specific length, and i realised, that the EMA and Support were going hand in hand. With that said, it was more than obvious that "that" would be a zone the price was gonna bounce off. It would be much better to just bank on the trade i took the night before, and obeserve before continuing. Those two are more the enough conformation and confluence to place the order mentioned below.
With all said and done, it would be much more better to take a Buy Limit order based on the specific market conditions, which were created as is.
With that said, i wont specificaly say that i cracked the code of the market and the banking institutions, but i do know what they do on these days. So i know how to prepare myself next time. I can also say, that this week was nothing less then a blessing for me.
Now we prepare ourself for the coming week, both mentally and fysically.
Happy reading and Happy Trading📍📉
So this time i wanna talk about a few aspects i went through this week, so please bear with me;
First of all i wanna talk about the initial anaylis i had on 08/01/2023. Just a short recap, we had a price drop and a price accumulation on the 1hr chart. From that onwards we expected a price break out with a theoreticle break out, and thats exactly what happend. I even marked up the potential price range we were gonna reach, but due to the market volatility on thursday 12/01/2022, we only got half of the expected move. It was a move of more or less 250 basispoints upwards. Looking at all my trades i took this week, i had 2 wins and 2 losses. All of the were calculated wins and losses, so more or less we had a breakeven week. I still have the same bullish bias for this coming trading week, because the bulls should still finish closing the dalparabole/gap. So i expect the market to move all the way to the $12000 mark, depending on the hidden supply zones on the 4hr chart. One thing i learned to be mindful about also during this week of trading, are the dynamic supports that formed on the 1hr chart. On the lower charts the resistance zones told the whole story why its important to time your buy/sell entries, but never to wait for every conformation possible. I learned to just take my trade, and not wait to long, otherwise u end up losing most of the profits that can be made. So i actually already have my zones marked up on the 15min and 1hr chart. All we do now, is wait.
The second thing i wanted to talk about is about taking trades on days where we have Inflation-related news releases. Most traders tend to stay away from the markets on these days, but i think its better to show up to the market each and every single day, eventhough no trades are taken. In doing that you can clearly see what the huge institutions do with the market. The term "Market Manipulation" was a something i was always facinated with, because those who envoke it, have much power over us Retail Traders. So on the 12th i planned to have a running trade instead of an pending order. So tehy day before i entered a market long order, in which i had decent profits already until 10:27 am 12th Jan. I had a calculated R:R ratio, and when the clock hit 10:30, the market reversed within a split second. I got stopped out and the SL also got moved, where i lost twice my calculated risk. They did the money hunt, and stopped alot of people out. After the market stabilized i saw what they did, ultimatedly.
On the 1hr chart, i realised that the market was forming a dynamic support line. On the 15min chart i also saw this dynamic support line, and was starting to form since 11th of Jan. Prices normzally react to these zones. Based on my trade analysis on the 15min chart, i always encorporate a certain EMA of a specific length, and i realised, that the EMA and Support were going hand in hand. With that said, it was more than obvious that "that" would be a zone the price was gonna bounce off. It would be much better to just bank on the trade i took the night before, and obeserve before continuing. Those two are more the enough conformation and confluence to place the order mentioned below.
With all said and done, it would be much more better to take a Buy Limit order based on the specific market conditions, which were created as is.
With that said, i wont specificaly say that i cracked the code of the market and the banking institutions, but i do know what they do on these days. So i know how to prepare myself next time. I can also say, that this week was nothing less then a blessing for me.
Now we prepare ourself for the coming week, both mentally and fysically.
Happy reading and Happy Trading📍📉
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