Trade Journal Entry
USDCAD Sell
Time Frame:
- Daily (FVG Identification)
- 4-hour (Entry Signal)
---
1. Trend Confirmation:
Identified a Change of Character (COC) on USDCAD by breaking the previous low at 1.3600 indicating a reversal in market sentiment and confirming a bearish trend.
2. Fair Value Gap (FVG):
On the daily chart, noted a Fair Value Gap between 1.3640 and 1.3690. 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: 1.3595
SL: 1.3655 (above closest high)
TP1: 1.3200 (low Jan 2024)
TP2: 1.3125 (1.618 Fibonacci)
Risk-Reward Ratio (RRR): 1:7 - 1:8.5
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.
---
Linarto Wijaya
USDCAD Sell
Time Frame:
- Daily (FVG Identification)
- 4-hour (Entry Signal)
---
1. Trend Confirmation:
Identified a Change of Character (COC) on USDCAD by breaking the previous low at 1.3600 indicating a reversal in market sentiment and confirming a bearish trend.
2. Fair Value Gap (FVG):
On the daily chart, noted a Fair Value Gap between 1.3640 and 1.3690. 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: 1.3595
SL: 1.3655 (above closest high)
TP1: 1.3200 (low Jan 2024)
TP2: 1.3125 (1.618 Fibonacci)
Risk-Reward Ratio (RRR): 1:7 - 1:8.5
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.
---
Linarto Wijaya
Trade active
Active
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.
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.