Trade Plan 6-11

Currently waiting for the 4 currency
Aud Jpy = Divergent head and shoulders 4hrs
Aud Usd = Divergent head and shoulders 4hrs
Usd Jpy = Head and shoulders 1hr
Gbp Nzd = Divergent head and shoulders 4hrs


Changes on the system
.618 on AudUsd might not follow for the reason it dive down so deep that nearly destroy the head and shoulders pattern. but still I strictly follow rejection retest and 15min crossover back up by MACD.

New things
1. AudJpy = is under 618 which im going to consider for the same reason on AudUsd


Since im waiting on right shoulder I dont have any data to encode but to follow the enhanced version of entry point guide.

USDJPY
1 hr rejection done
1 hr retest done
15 min crossover done
MACD confirmation = NOT CONFIRM - did not take the trade

GBPNZD
1 hour rejection done
1 hour retest done
15min cross over done
MACD confirm

traded at exactly the crossover was seen which make it advance. the reason for it is I might not get enough pips which will make my trade size low. since stop lost is more than 30 pips I lowered my trade size to .4 lot. which risking 72 pips = $19.62 and the take profit is 76 pips = $22 dollars. ratio is almost 1:1

LOST TRADE - points to remember is the stop lost must not more than 30 pips and the structure must be clear on direction of the shoulders. however my analysis was still correct due to 76pips i was not able to set my stop lost to favorable distance where spread was not considerd and if followed the 30 pips rule out i have already profited.

Solution
 1. 2nd trade 30 pip rule 1:1 do not trade above 35 pips stop lost

June 9 trade details

Took the trade at 12:00 AM June 9 to AudJpy pair going up.
NOTE follow the rules in the formation of shoulder which i traded only 50 cents per pip since i still dont have proven system from neckline to shoulder.

the stop lost is still on 30 pips away which i maintain and make sure that it has to be exact on structure

Since this was not done on friday at monday i just took $10 dollars and stop the trade. for the reason I might miss a better oportunity on monday. however still if i have follow the plan it still hit my take profit.  meaning system used on right shoulders can be used on neckline to right shoulders.

Advance Trade setup rules

4 Key factors to consider before laying down advance trade.

1. 1 hr time frame head and shoulders
2. Divergent head and shoulders (if you dont know this better scan my youtube channel)
3. From neckline price must reach above .618 retracement
4. Measurement of .618 retracement must only 30 pips above it will not be considered. 

Trade Plan data Jan 7

Created  8 Currency Pair trade Plan 


EurCad Divergent Head and shoulders 4hrs
AudJpy Divergent Head and shoulders 4hrs
EurChf  Head and Shoulders  4hrs
EurNad Divergent head and shoulders 4hrs
GbpJpy Cypher Pattern 4hrs
GbpNzd Divergent Head and shoulders 4hrs
AudCad Head and shoulders 1hr
AudUsd Divergent head and shoulders 1 hr

          The reason I choose those trade Plan since all of them are my highest profit  based on pattern trading and I have develop the enhanced version of entry point design for right shoulder entry. which for this past 2 weeks the result was very satisfying

My Priority Currency Pair 

AudUsd 

Reason

•  it has the potential of advanced trading
• 1hr time frame and based on MACD indicator its a divergent (signiture trade that never fail me)

AudJpy
AudCad

Reason

• 1hr time frame where i can test my enhanced version of entry point on the head to neckline
• Divergent head and shoulders  

Trade I took
AudUsd

Reason

• I want to test my enhanced version of entry point in the head going to the neckline 
• I want to find certain flaws 
• I want to develop certain system from head to neck line
• I Want to profit in the Divergent signal that starts from head since most cases head and shoulders are not form 

Factors that contribute in placing a specific trade

1hr rejection done
1hr retest rejection done

proceed to 15min for entry

Was not able to trade on the crossover for the reason the Macd doesnt support it

Wher did i put my entry point?

proceed on 5 min time frame used the market checker and identify support ressistance . my entry point is right below the support and ressitance with is sellers area . (pull back strategy 5min)

tools i used support and ressitance on 5 min chart i use 5 min chart since the crossover in 15min chart is less than 30 pips. 

Stop Lost

for the stop lost is in the tip of the head then for the take profit it is on the  structure level in 1hr time frame which is near neck line. I did not put take profit at exact neckline for the reason the head and shoulders my perform slanting neck line.

Since this is a test drive trading and my enhanced version law was not followed i traded 50 cents per pip plus i plan to move my stop lost once the market break the 3 fractals below in 15 min time frame.




Was not able to trade on 
Audjpy and AudCad head to neckline

The law on rejection and retest in 1hr given but as i proceed on 15min the cross over was already in place so i need to wait for another down crossover of MA. if ever no crossover then I will not trade from head to neck line.  This is the law i follow on enhance version of entry point right shouldet to save me from possible trap on consilidation that will lead to the opposite direction ang high potential of lost trade.

TRADE RESULT

AudUsd

Force to move stop lost to almost break even, earning only 35 cents 7 pips for the reason a rejection was formed in  4hrs. following from experience higher time frame rejection is much reliable.

'Hopefully Im right this one of the reason my original trade plan is altered for the reason of new contributing factors that affect it.  like example in the pic"



ObservationAfter the rejection and retest cross over of 15min time frame and MACD doesnt support it there will be a a consilidation and possible bounce on opposite direction.