Trade Journal Entry
USDCAD Sell
Time Frame:
- Daily (FVG Identification)
- 4-hour (Entry Signal)
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1. Trend Confirmation:
Identified a Change of Character (COC) on GBPJPY by breaking the previous low at 191.40 indicating a bearish reversal in market sentiment.
2. Fair Value Gap (FVG):
On the daily chart, noted a Fair Value Gap between 193.30 and 195.85. This gap is a potential reversal zone where the price has revisited, providing a trading opportunity for sell position.
3. Entry Signal
On the 4-hour chart, an engulfing bearish candle formed after touching the identified FVG zone. This pattern aligns with the bearish trend and indicates a potential continuation of the downtrend.
4. Trade Execution
Entry Price: 192.30
SL1: 196.20 (above FVG high)
SL2: 193.60 (above last swing high)
TP1: 180.15 (low Aug 2024)
TP2: 162.80 (1.618 Fibonacci)
Risk-Reward Ratio (RRR): 1:3 - 1:21
Monitoring: Check-in daily at 8 AM & 8 PM
5. Outcome:
Exit Price:
Profit/Loss: pips
Summary: The trade is based on a bearish trend confirmed by the break of the previous low, supported by the bearish engulfing pattern within the daily FVG.
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Linarto Wijaya
USDCAD Sell
Time Frame:
- Daily (FVG Identification)
- 4-hour (Entry Signal)
---
1. Trend Confirmation:
Identified a Change of Character (COC) on GBPJPY by breaking the previous low at 191.40 indicating a bearish reversal in market sentiment.
2. Fair Value Gap (FVG):
On the daily chart, noted a Fair Value Gap between 193.30 and 195.85. This gap is a potential reversal zone where the price has revisited, providing a trading opportunity for sell position.
3. Entry Signal
On the 4-hour chart, an engulfing bearish candle formed after touching the identified FVG zone. This pattern aligns with the bearish trend and indicates a potential continuation of the downtrend.
4. Trade Execution
Entry Price: 192.30
SL1: 196.20 (above FVG high)
SL2: 193.60 (above last swing high)
TP1: 180.15 (low Aug 2024)
TP2: 162.80 (1.618 Fibonacci)
Risk-Reward Ratio (RRR): 1:3 - 1:21
Monitoring: Check-in daily at 8 AM & 8 PM
5. Outcome:
Exit Price:
Profit/Loss: pips
Summary: The trade is based on a bearish trend confirmed by the break of the previous low, supported by the bearish engulfing pattern within the daily FVG.
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Linarto Wijaya
Trade active
Active
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.