Trading with 5m Force strategy, Day 16

Today, I think I'll not be able to give more attention to my trade as I'll have to go to hospital. Whatever, I'll try to monitor market whenever I get time. I'll use my laptop for it.

After Tokyo open today, price started to move sidways in a range.

Figure 01: EURUSD 5m Chart

Price above crossed the DR1. Then moved downwards. With the cross above the DR1 I took a long position as price movement was upards in higher TF. As the price movement was large, I thought I'll caught up by the losing sword. But with the patience, I was paid of at last.

Figure 02: EURUSD 5m Chart.

I got out with 5 pips. If I could keep my patience for little more, I could have grabbed some more pips. The price overview was as below-

Figure 03: EURUSD 5m Chart.

With a bounce at the DR2 and downwards movement, I found a short entry position.

Figure 04: EURUSD 5m Chart.

I took the short position. But soon after getting into the position, price started to show a sharp upward movement.


Figure 05: EURUSD 5m Chart. "Hidden bullish divergence"

Actually this entry was not ideal, with the force 5m entry though. Because, price was bounced back from DR2 and below there was DR1. There was not enough room between two line to breath. Again there was a hidden bullish divergence was forming. So most of the things was not in favour.

Today NY open was uneventful. But there was a high impact news release event for which price moved sharply downwards. At 9:00 pm (6+ GMT) USD non manufacturing PMI released and price moved 30 pips down.

Figure 06: EURUSD 5m chart.

With this downward movement price reached the demand area over the Daily pivot. With a bounce from there price started to move upwards. With the upward movement I entered into long postion. But I should have wait 2-3 candles more as it was within 1 hour of a high impact news release. I kept my s/l tight just below the daily pivot. Entry point was just at the midddle of the Daily pivot and DR1. So it had enough space. Price just started to move in my favour. I exited with a hurry as I was waiting too long. I did this as no only for long time stay in trade, but also because of my hurriness to go to bed. If I haven't entered at the first place, I could entered into the trade later with a nice setup and then I think I probably could get out of my trade more properly. So a timely entry is necessary in many way.

I think, I'm still can't exit properly.

I got: 5 + 2 + 10 = 17

I could grabbed 42 + 8 + 30 =  80

It's too late. NY session will close in 1 hour and 45 mins. It's 2:15 am here.
GOOD NIGHT. Happy pipping.