Hey all!
Finally, we have some positive updates to the challenge journey!
I decided to do a slight modification to the CADCHF trade, as always, find the journal notes below!
In today's trading session, I noticed the market started to struggle to maintain bullish progress on the H4 chart around the TP1 area. Because of this, I modified the management strategy for this trade a bit. Upon reviewing the H1 chart for microstructure, I noticed an ascending channel. With this formation in mind, I decided to update the stop loss of the first half of the trade to be just below the ascending channel, so in case we have a bearish break of structure before hitting the first profit target, we are still out for a good movement in our favor.
This effectively guarantees the first profitable trade of the challenge, therefore, I also made the decision to move the SL of the second half of the trade to break even, locking in a positive result for this trade idea.
Finally, we have some positive updates to the challenge journey!
I decided to do a slight modification to the CADCHF trade, as always, find the journal notes below!
In today's trading session, I noticed the market started to struggle to maintain bullish progress on the H4 chart around the TP1 area. Because of this, I modified the management strategy for this trade a bit. Upon reviewing the H1 chart for microstructure, I noticed an ascending channel. With this formation in mind, I decided to update the stop loss of the first half of the trade to be just below the ascending channel, so in case we have a bearish break of structure before hitting the first profit target, we are still out for a good movement in our favor.
This effectively guarantees the first profitable trade of the challenge, therefore, I also made the decision to move the SL of the second half of the trade to break even, locking in a positive result for this trade idea.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.