EUR/USD Beginner Level trading

Got stopped out on that trade but i reentered the short again

I was able to break even today. I am done for the day.

Today the market started slow bu placed a couple of trades. Trade 1 was a shirt trade but i was stopped out. Trade 2 was a long during pre and it was profitable. Trade 3 was a short during franky but i was stopped out and trade 4 was a long during franky which was profitable.

I am up 10 pips today. My trading day started out with a short bias which i later changed to a long bias after seeing the strength.

Took a long during pre-franky which turned out well. After that i took a short during franky but was stopped out. I am done for the day as it is past my trading hours.

Today my first trade was a short during pre-franky. I was able to close for 3 pips profit before the market reversed direction.

My second trade was a long one, and i entered after price broke past the 700 barrier. I am up 5 pips today, so I am done for the day.

Just a HeadsUp! price just fell around 40 pips towards the 675 barrier

Right now, the regime looks like Franky fake & London break. Its happening for the last few weeks now.

First 15-30M of Franky goes till the nearest hourly highs or lows, then the last 30 minutes of the Franky sets the direction (normally the high or low of the day/session). Then London breaks in that direction fast. Classic Franky fake & London break.

Normally, these regimes last for a while.

Take the last 4 days of this week for example.

a. Today, Franky took it to the nearest hourly high. See second 2H chart.

b. The entry trigger in these cases is first opposite candle on 5M or 15M. Stops go above/below it.

I was pre positioned for a break lower in the Franky, so I had lost on my first trade. I did not expect it to go higher above 35. 625 options barrier was holding as the Franky low.

But I took the Franky fake & London break. It is 4 for 4 now in the last 4 days.

Trade 1:

Today i took a long during franky but got stopped out so i entered again with stop at 629 and made a profit.

Trade 2:

I took a short position during London session with stop at 633 and TP around 590 and i made a profit because TP was hit.

I also want to add, today was HCOB day (Eurozone PMI data). You get spikes to the nearest barriers or towards the cluster, and then it is possible that the entire move reverses quickly.

It is in hindsight now. But whenever it the HCOB data day, you have to be prepared for this kind of moves.

Yes . I witnessed the trade and I learnt something new.

Yes, I noticed and also took similar trades because during London i anticipated price will fall towards the clusters at 590/600

Today was just a near breakeven (just $0.5 loss) as the market kept ranging around 650.

The successful trades were a long i took around 650 and exited around 656; and anther long i took around 650 and exited around 652

I am down 10 pips today and tbh i didn't trade well today. On some trades, i didn't stick to my rule of entering a trade only after a break of the first 15M candle and i refused to accept small losses. I was also caught up in the range during the London session. I had to withdraw the funds from my account to prevent myself from over-trading.

However, I am up in profit for the week I think i made about $20 net profit this week. I will post the weekly account statement tomorrow after my broker sends it to me. I will carry out a postmortem of my trades this weekend, make changes and come back more disciplined next week.

happy weekend

This is my weekly trading account statement; the fonts are very small so i will repost it in larger fonts/different pages for easy reading.

page 1 weekly trading statement

page 2

Page 3 & final page

Today, I am long on prefranky. I am trying to position for the break