MyJournal 29/01 - 02/02/2024

14 feb

WINS/LOSSES COMMENTS:
- Week structure uncertain, just gave opportunity exactly before end of the month
- Wednesday, moved to 50% of monthly high, wick for monthly chart in progress, end of the month coming, short!

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FUNDAMENTALS:
a) DXY - no data
b) XAU - no data
c) Other: no data


TECHNICALS:
a) Monthly chart - no data
b) Last W1 chart - no data
c) D1 chart - Monday/Tuesday (Weekly typical structure) no data
- Tues/Wed expect to ...no data
- Wed/Thurs/Fri hit 50% fibo of monthly, short
*check DXY chart to confirm the thesis, 15M chart- Execute, Breakout/Pullback


TAKING POSITION RULES:
(Normal)
0.25% per position, plus all conservative positions.

(Conservative)
1) Monthly 61.8/78.6
2) 2nd try after SL
3) 3rd try
4) 4th try

(Ultra conservative)
1) Monthly 61.8/78.6
2) 3rd try after SL
2) 4th try


ESSENTIAL CONCEPTS:
a) Typical structure - Monthly: Buy Buy Sell Sell / Sell Sell Buy Buy
- Weekly: Buy Buy Sell Sell / Sell Sell Buy Buy
b) Sessions - Asian/London/New York


ADDITIONAL BIAS:
a) Round psychology number 50/00
b) WeeklyTypicalStructure:
-anatomy of candle, price always push to other side first before making real move
-midweek reversalrejection/continuation > BuyBuy*SellSell / SellSell*BuyBuy
c) Daily Candlestick Pattern: doji, engulfing, insidebar/railroad
d) TakeProfit TP / StopLoss SL
Depends on:
-fundamentally / what are the news saying
-liquidity pool at Daily/Weekly/Monthly where
-averageDailyRange ADR
-catch explosive move only if direction align with weekly high low bias.
Eg. Previous day was bullish doji at daily support & it is mid of the week, do catch today explosive move to next weekly liquidity pool.
e) Entry timing recommendation
-session LONDON, NY 9-12PM GMT+8
f) Entry with discount price, use Fibonacci