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Missedtrade

Missed the Gold Drop? Re-Entry Strategy After Key RejectionOverview: The provided XAU/USD charts show a market structure that's testing key liquidity zones (LQZ) and possibly forming reversal patterns. Your trading archetype, a mix of Bold Maverick and Analytical Rabbit, suggests that you likely lean towards taking calculated risks but need confirmation before executing trades. This archetype blend requires balancing decisive action with thorough analysis, especially when you miss an initial trade idea. 1. Multi-Time Frame Analysis: 4H Chart: The price reached a significant resistance at the 4H LQZ around 2531.595, forming a double top structure within a descending channel. This zone is a potential area for strong reversals. The recent rejection at this resistance indicates a potential shift in market sentiment from bullish to bearish. 1H Chart: There's a descending channel visible, suggesting a bearish trend in play. Price is currently at a 1H LQZ around 2494.550, which has acted as support in the past. The rejection at the upper boundary of the descending channel aligns with a confluence at the 4H resistance, enhancing the likelihood of a reversal. The current price action is consolidating around this 1H LQZ, indicating potential for either a bounce or a further decline. 15M Chart: Shows a recent sharp decline from the 4H LQZ, confirming the bearish momentum. The price is currently hovering around a minor support within the larger 1H LQZ. The rejection from the 4H resistance, coupled with the bearish momentum on this lower timeframe, reinforces the potential for further downside. 2. The Rule of Three & Patterns Within Patterns: The "Rule of Three" indicates that after three touches to a support/resistance level, a breakout is more likely​​. The charts show multiple touches on both the descending trendline and support level, suggesting an imminent breakout or breakdown. The structure seen in these charts is a descending channel within a larger potential double top, a clear example of "patterns within patterns." This amplifies the probability of a significant reversal​. 3. Entry Types and Missed Opportunity: Since you missed the initial trade, you could look for: Reduced Risk Entry: Wait for a pullback to the LQZ after a confirmed breakout below the current 1H LQZ. You could then enter a short position, targeting a lower liquidity zone or the next support level. This approach is less aggressive and aligns with your analytical nature​. Re-Entry Strategy: If the price revisits the 4H LQZ and shows signs of rejection again (like a bearish engulfing pattern or strong wick rejections), this could offer a new entry point for shorts. 4. Psychological Coaching: As a Bold Maverick, it's essential to stay disciplined and not chase the trade you missed. Instead, analyze the market's next move: Mass Psychology: Recognize that other traders might also be reacting to the missed opportunity, leading to a possible pullback (which you can capitalize on). Stay focused on your strategy and avoid the temptation to overtrade or enter prematurely out of frustration. Final Thoughts: Given the charts' current state, patience is crucial. Wait for the market to present a clear re-entry opportunity that aligns with your mix of risk-taking and analysis. Watch for a strong, confirmed break below the 1H LQZ or a pullback to the 4H LQZ with a bearish confirmation before entering your next trade.
OANDA:XAUUSD
by MommaPreneur
I have a rule, don't trade Mondays. But I see this....From my education in forex, I have learnt from multiple people that Monday can be a manipulated day in the industry caused by, big hedge funds and banks. I always allow to have Saturday off, come to the charts on Sunday, and begin a week ahead analysis and today would have been a 'perfect' day to trade in, but I stuck by my rules and I'm now having to overcome FOMO (fear of missing out). However, there will be better days and there will be more opportunities in the future. I've only started trading from he start of the year, and I feel I've already learnt a hell of a lot. I just can't wait to see what the rest of 2020 has to bring.
Long
by danieljamesfx
2
USD/CAD MIssed Short tradeHey guys and girls This is a late post This trade happened on Friday of late week I put my limit order 2 pips below the 50 ema on the 1 hr chart the night before The next morning around 7:30 am CST there was some movement in the USD/CAD and the price came within 1/2 a pip from filling my order and never filled Yes it sucks that this happened and is annoying because it would have been a huge winner, but i followed my plan so there was nothing else i could do When this happens NEVER CHASE THE TRADE!!! On to the next trade...
Short
by FXjoey90
Trading Journal Basics 101SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Trading Journal Basics 101 During my trading career one of the most important elements of trading is keeping records of your trading performance. Whether its using an excel document or software such as the EDGEWONK TRADING JOURNAL, its crucial to see where you business has come from and where its going!! Below is a small detailed list of elements of a trading journal; 1. Date/time entered and exited trade 2. Asset traded 3. Long or short trade 4. Entry/ Stop loss and target price 5. Risk/Reward 6. Exit price. Did i exit at the target price? If not why? 7. Profit/Loss 9. Pips amount 10.Balance 11. Notes on trade ( both Pros and cons) 12. How can i improve next time? 13. Missed trades? 14. and many more.... Once again this is just a very basic list and there a lots more that can go into the journal. Note: Edgewonk is by far the best trading journal software that i have ever used. I highly recommend it and if you would like to know more please let me know :) Happy Trading
TVC:GOLDEducation
by SMPTrader
1
NEMUS Bioscience - Possible Entry for medical pain therapyNMUS About: NEMUS Bioscience, Inc. ( NMUS ) , focused on the development of cannabinoid-based therapeutics to address global medical indications, especially those of unmet medical need. Entry better on 4h / 1d vs 1w chart here and another CBD stock missed entry for self note. Watching to see if breakout from current level. Future entry TBD. Watch out for random "cannabinoid" being said in your meetings today with TESLA. @pokethebear I do not advocate THC use and consider the current opioid epidemic to be another on-ramp for alternative break-though medicine. Lipitor to Pfizer, Embrel to AMGEN? 10-1 baggers/3 yr focus. #pharmaindustry. 65% insider owned & no sells on record.
N
by Pokethebear