FTMO Free Trial Challenge with Nse

Day 4 Trade Journal (2) (Thur, 13th August)

Asset- GBPCAD
Trade Type- Long Setup Update

Checklist-
a) A Daily Bullish Channel
b) Key Support region that confluences with the Trend Support,
c) 4hr bullish Crown Pattern.

N/B: After the Buys, got carried away by sleep, the second position was after I woke up, and I also spotted;
d) Validated 1hr Bearish Channel
e) 15mins Bearish Crown pattern

Execution - Instant
Analysis TF- D1/4hr/1hr/15mins
Entry 1- 1.8817, Entry 2- 1.8816
SL - 1.8790
TP - 1.8910

Comment: After holding this trade for 4hrs and price has not left my entry, I re-assessed the trade setup. Then I realized I was about repeating the same mistake I did in GBPAUD trade yesterday.
I spotted my entry was at the right shoulder of the 15mins Bearish Head and Shoulders pattern, and price was struggling to break above the region.
I Learnt from my mistake and closed the positions instead of waiting for it to drop down to add positions expecting it to buy back.

The setup was exactly similar to GBPAUD trade I took yesterday that got the account into drawdown, but this time, The buys I caught on GBPAUD around 1am before entering GBPCAD, has covered the losses, with extra profit on top.

I've exhausted 3 positions already this morning from my trading plan. 2 more to go for the day and I'm done. Will be looking for setups to trade during New York session.

Gbpcad looks bearish though

I will monitor price to see if I can get an opportunity

EURUSD will sell but it has to retrace deeper before selling again

Was the buys a short term buy

AUDUSD is actually retracing into discount

GBPAUD is giving bullish narrative

NAS100 has turned bullish

Price is already up i haven't seen any possible re entry now

You just have to prepare before any taking trade

Price is pulling higher

Good first-day execution. I like the decision to shift toward day trading given the challenge timeline, especially with total exposure kept around 0.6%. The swap and commission breakdown is also useful because those costs can materially affect the final result when positions are held longer. Tracking the actual trading costs alongside the setups should give you a clearer picture of the strategy's true performance throughout the challenge.

We don't really know how the NY session will look like I although there is no strong but momentum but for now I will advise you hold with BE

Price is still interested in that high, watch closely for a liquidity sweep above 0.70770

You should have exited by now because nas100 is reversing

Nas100 is showing a reversal on the 4hr timeframe

Yeah. Intraday is bearish. with this 4hr bearish channel, I'll just stay on sells.

The next sells will continue tomorrow. will be watching out this setup for entry at 1.1532

Yeah, it retraced deeper and now continuing the sells. I missed it, was looking at entering at that confluence price @1.1545 and I didn't set limit. with SL at 1.1550

was looking at holding it, but had to close out, cause the price action was fishy. later sold.

GBPAUD is now bearish.
GBPAUD sell-
entry 1.9112,
SL-1.9130
TP-1.9070

I'll be looking for the sells tomorrow, for instant execution.

Has this trade taken you out on B.E?