Journal Entry 1, July 18, 2022. My FX Journey
Journal Entry 1: July 18, 2022
Price opened and dipped down but not taking out Asian lows. Price rallies to the upside drawing towards Daily -OB. I reluctantly was impatient and didn't wait for the set up to happen. Price gets to the Mean Threshold of the Daily -OB right after the London Killzone @ 6:15am NY time, then drops 55pips into a 4hr FVG, in the middle of the NY killzone @ 8:15am NYtime. Price rallies to the upside for 81 pips. Profit taking for the sell was at the open of the 4hr FVG, and for the Buy, at the Daily Rejection Block. I lost out on roughly 130+ pips for the simple fact I was impatient and not watching the charts correctly. This was a simple Daily to 4hr P/D array... That I truly missed out on.
Take aways, be patient recognize the setup is not a setup until it sets up. Don't force anything, only wait for the highest probability setup that you see clearly.
Price opened and dipped down but not taking out Asian lows. Price rallies to the upside drawing towards Daily -OB. I reluctantly was impatient and didn't wait for the set up to happen. Price gets to the Mean Threshold of the Daily -OB right after the London Killzone @ 6:15am NY time, then drops 55pips into a 4hr FVG, in the middle of the NY killzone @ 8:15am NYtime. Price rallies to the upside for 81 pips. Profit taking for the sell was at the open of the 4hr FVG, and for the Buy, at the Daily Rejection Block. I lost out on roughly 130+ pips for the simple fact I was impatient and not watching the charts correctly. This was a simple Daily to 4hr P/D array... That I truly missed out on.
Take aways, be patient recognize the setup is not a setup until it sets up. Don't force anything, only wait for the highest probability setup that you see clearly.