2020-07-02 GBPUSD

Expectation: We expect for today the third push up

In the morning we saw a new move below the sma21-8... a possible hint to move back towards the sma89.... anyway at 09:15 this hint was resetted because price closed above the last high

at 10:00 price again felt below the sma21-8, so again a hint for a move back to the sma89. at 11:15 also this hint was resetted by a close above the last high.

at 13:00 price moved back towards the sma21-8 and gave us an engulfing pattern...so I thought this was a valid buy possibility.

SL: just below last-low

TP: reversal pattern or ADR

after a few minuts price already moved further to the downside. Also in the 5min chart I felt it could go more to the downside. So I decided to close this trade with a lost of 8pips

at 14:45 price give us again a bullish engulfing pattern and went above the sma21-8. so now we wait for a possible reversing pattern for an attempt to cross the sma89...if so then possibly we also can expect a move to the sma200 and even the daily ADR could be a target....

at 15:15 we see the bearish engulfing bar...back towards the sma21. Entry candle reversed to 25% and so I went in.

SL is just above last high

TP: reversal formation, 161,8fib level or ADR-level

The trad was oke.....only the market was very volatile...price went a little above the Las thigh...and I had the feeling the price went up...so I closed the trade...and opened the other direction (not following my trading plan) well wrong decision... it is still a problem....trading if the plan doesn't say it!....

and so I lost myself in a bad trading habit....to much trades....with to less confidence and more based on H*O*P*E :(

For today I'm disappointed in myself after nearly a full week of win...today I have a lost of 31pips

Again a learning point.... and Up to tomorrow!

2020-07-01 GBPUSD

Yesterday we expected a second push upwards.

In the morning we saw price moved below the sma21-8 and so we could expect a move back towards the sma89. Anyway also looking to the abov time frames it looks if we dd not managed to go to the sm89. So I decided to trade at 09:00 the entry candle gave us a retracement of 25% so we were in

SL just below engulfing bar (last Low)

TP reversal pattern, 161,8%fib or ADR-level.

after 6bars we saw a reversal bar. with in my mind that th market rhythm was also suggesting a move back to the sm89 I stopped the trade

around 11:00 I tried to get a trade in an up-move....after some bars it went against me and I could save e few pips.

at 14:00 I entered a valid trade. after a bullish engulfing pattern I bought...unfortunately I did not follow my SL (stop trade after a reversal pattern showed up) 13:45 would be the right stop place

at 14:30... I lost my trading plan....not trading following the rules.... I could manage a small win.

at 15:30 there was our trade of the day....

showed an bullish engulfing pattern...at the sma89. give us a small retracement. And from there we were in the trend. I stopped around the the 161,8%fib.

In total I could manage a win of 180,5pips for today.

I'm really impressed until now! Let's move to the next day :D