Live Trades Number 3 & 4 –ANALYSIS and RESULT

Filed under: Live Trades |

 

Well, the analysis for live trade number 3 is very simple  – it was cancelled after two hours because our order was not filled. As we are entering trades on a 50% retracement of candles so that you have time to get the trades on, there are going to be quite a lot of our trade alerts that will be cancelled; so try to get used to that.

 

There is a lot more to talk about with trade number 4. This was the trade on the AUD/GBP pair on the 1-hour chart. We entered on a 50% retracement of a bullish engulfing candle at a significant area of support/resistance. If you take a look at Figure 1, you will see the result of this trade. Our order was filled and price moved up very nicely from this level with several large bullish candles to take us to our profit target, which was a risk reward scenario of 1:2. This demonstrates just how powerful these areas of support/resistance are on the daily chart (it is the daily chart that I draw my significant areas of support and resistance in on).

 

Our profit for this trade, with a bank of 10,000 GBP, was 199.59 GBP. As you can see, even when working out our lot sizes as accurately as we can, we never quite hit round numbers. As our result on the first order filled was a loss of 100.48 GBP, this brings our running total to a profit of 99.11 GBP. There are no setups as yet for today – but I will keep you informed.

Here are the results in full so far:

 

Trade 1: Cancelled

Trade 2: -100.48

Trade 3: Cancelled

Trade 4: 199.59


Total Profit/Loss = 99.11

 

That’s it for today – more tomorrow.

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