Hey Everyone,
Hope everyone is doing great and prepared for the week ahead. Last week I took two trades, one on EC (+3%) and Oil (+2%) resulting in a total of +5% for the week. This trade was a textbook two touch flag continuation trade out of my trading plan. The higher timeframe was pointing to the upside as we had a daily expanding continuation, 4h bullish leg and 1h expanding continuation to get a risk entry to take to the upside. The cherry on top was the doji candlestick that was used an an entry for this trade. As price tagged me in and pushed to the upside, I moved my stop to breakeven. Then price started to break the outer channel with low momentum candles so I decided to be more aggressive with my management and lock in +3%. I was looking for a tight flag continuation outside of the expanding pattern so I can scale into the markets but a few hours later we got the strong bearish candle that took me out.
Overall happy with the trade and how I managed this position. So far in November I am up +8.5% which is a great start!
Hope you all have a successful week ahead, let's smash it guys and girls.
Hope everyone is doing great and prepared for the week ahead. Last week I took two trades, one on EC (+3%) and Oil (+2%) resulting in a total of +5% for the week. This trade was a textbook two touch flag continuation trade out of my trading plan. The higher timeframe was pointing to the upside as we had a daily expanding continuation, 4h bullish leg and 1h expanding continuation to get a risk entry to take to the upside. The cherry on top was the doji candlestick that was used an an entry for this trade. As price tagged me in and pushed to the upside, I moved my stop to breakeven. Then price started to break the outer channel with low momentum candles so I decided to be more aggressive with my management and lock in +3%. I was looking for a tight flag continuation outside of the expanding pattern so I can scale into the markets but a few hours later we got the strong bearish candle that took me out.
Overall happy with the trade and how I managed this position. So far in November I am up +8.5% which is a great start!
Hope you all have a successful week ahead, let's smash it guys and girls.