EUR/USD Beginner Level trading

Well done boss, some days are like that. I noticed most of the losses came from the buy positions, seems you entered the market with a bullish bias this morning?

Precisely! my bias was actually bullish coming into the market because of the 3 billion euro eurusd expiry at 1.1650 which I exoected to act as a magnet to price. However, when I saw two consecutive break of structure to the downside, coupled with significant eurusd open interest around 600 to 550 which was untested from yesterday, I decided to go short.

I have closed my last set of sell trades in profit. I am not really happy with my performance today, i didn't trade with full discipline. I started the day off with a set of long trades at pre-franky but has to close them for a small loss during Frankfurt. I then went short but placed my SL too close to my entry and got stopped out again. I finally went short again during London and made some profit barely enough to cover the losses. Overall I am still profitable for the month and thats what matters.

Hello @yokoyi, but why did you choose to exit the trade at that point, perharps it would have gone down more if you left it

Yes, price may actually fall till 1.1600 level but right now price is rejecting at yesterdays pre-franky low, so I didnt want to risk it. I have been able to recover a good part of my losses today, so i will recover the rest tomorrow. Its just risk management for me. I am not trading my P&L, I am trading the market.

@yokoyi your chart color choices are beautiful, especially the sky blue and yellow combo

I have closed the long trades for a little profit and opened two short trades

I have closed my short trades. Today I was just able to breakeven. The first short trades I took hit my SL so I took another short and recouped the loss. In hindsight I should have placed my SL further away from my entry

Deal map for all today's trades

Just went short on eurusd, my profit target is at 1.1600

TP smashed

I am done for the day

Price is now reversing after hitting the 1.1600 mark

Your entry and exit was surgically precise! But, how did you know 1.1600 was the profit target and you exited just before price went back up?

Your entry and exit was surgically precise! But, how did you know 1.1600 was the profit target and you exited just before price went back up?

Yesterday was PMI day, there is a playbook for it.

Before the PMI release, the Franky takes it to the nearest support or resistance, and then it sets the real direction during London when the PMI data is released.

This is the classic playbook for EU PMI data day. Attached were the last 6 PMI dates, you can go back more & see. You will see this playbook almost every time.