SWAB Trading Strategy

NU Trade That Went Wrong

Have you ever seen a trader posting a wrong trading set up or analysis? Well, here it is.

NZDUSD was actually my top SWAB pair with NZD the strongest currency and USD the weakest. So I was expecting a bounce play from an assumed strong support zone (blue horizontal bar). This is also confirmed by a bounce from an oversold momentum. In sum, I had 3 reasons for a buy trade: 1) swab trade call, 2) support and resistance level, and 3) momentum's overvalue condition.

And what happened at the open of Monday trading? My stop loss level was hit! What went wrong? Did I miss something?

Here's the postmortem and lessons learned.
1. I think I missed that buying impulse that need to be filled (maybe that's the reason why it gap down)
2. Should have moved my SL to breakeven last Friday
3. Stick to finding divergence play rather than a mere momentum overvalue setup
4. Do away from weekend trading position, unless the asset at play is crypto

Am still grateful with this mistake for the lessons learned are more than reasons for trade, and SL once again proved that accounts are protected from disaster if the setup (assumption) is wrong.

FunFi (FNF) is play2earn NFT racing blockchain game.

Recently, FNF had its initial listing at gate.io that was welcomed with successful support. Although I missed the peak pump price at its opening bell of trading, I still managed to bag a decent 19,000% gain from selling the free crypto airdrop I received during the launch.

Ethereum SR Play

Let's make our trading strategy so simple that newbie can follow and trade as well. Let's have the simple Support and Resistance Play for Ethereum.

This last weekend of Nov, a well established resistance zone at 1220s was revisited and tested. Whose previous swing high happened to be at divergence with its momentum, showing us some signs of impending bearish movement. That said, we set a pending sell limit with 1:8 risk reward ratio, targeting the previous swing low as profit area.

As practiced, pending orders shall make your trading simple as you do not have to worry timing the market, just let it play and respect the imprinted support and resistance levels.

EURJPY Update

Coming from yesterday's post, it is safe to move the SL to at least breakeven point if you have not already, or with some trailing profit as our trade set up is enjoying a 100pip ride and counting. Make it a risk free trade. Follow this page and check our previous to get the idea of this set up.