✍️ Weekly Trade Plan & Recap 11th - 16th Feb
This week's analysis for The Dollar Index, Gold, Silver, Copper, S&P, DAX, WTI Oil, Bitcoin and Chainlink.
As traders, we need directional movement to profit, so when there is no follow-through in the market, trading can be particularly challenging.
Here are two examples of no follow-through and how I handled them last week.
This is a Dollar index trade published in the Substack chat.
We we’re looking for one of 2 scenarios to either 1) short below the red Price Pivot Zone or 2) buy a slow pullback when the topside of higher timeframe Supply was tested.
Dropping down to the 5 minute chart, I got a signal and took the long. The initial target was the prior high.
That trade did pretty well out of the starting blocks, but faltered before we reached the high. Sensing that something wasn’t quite right, I set the stoploss to breakeven and yes, it did come back down to take me out.
Gold
Here’s another trade that I published in the chat.
It was a long setup from the Price Pivot Zone, looking for the liquidity gap to fill and using Supply as a target.
That trade took until the next day to get going and then we got a sudden pump.
After fast pumps like this, and especially as the market had spiked the prior high, the market will often retrace and occasionally reverse.
So again, I set my stoploss to breakeven, which was lucky, as the market made a complete U-turn!
That lead to short setup on Gold giving a partial win.
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