Hello, my name is K. and I'm here to discuss the results of the 2023/1/11 EURUSD Practice.
We will be looking at the 2023/1/11 EURUSD practice results, orders and plan. The results are as follows. Profit is shown in USD.
The image is from Forex Tester6.

PLAN

Daily Chart

The trade on 1/5/2023 was a sharp move up and gain. The point of the turnaround turned out to be a previous high, and a resistor turnaround had occurred. The uptrend returned to the uptrend with the momentum intact. Once the uptrend stopped, the price appears to be cutting off the lows on the lower leg, so we are looking for a further uptrend.

However, both the daily 20MA and weekly 20MA have large divergences, and there is a possibility of a reversal, so it may be necessary to raise the limit to avoid a negative result once profits have been taken.

4 hour Chart

The 4-hourly is also forming a low cut-off point that appears to be the first push of an uptrend turnaround. I will look at the line where the descent has stopped.

This one is also undergoing a clean resistor turnaround. If so, we assumed that it would not go down anymore and go up.

A little more time from Granville's Law will bring us closer to the 20 MA and we are about to ride the MA and form a 3-wave.
Now we will look at the lower legs further down.

1 hour Chart

The 1-hourly trend is also showing a push once after the uptrend turnaround. Looking at the bigger picture, a double bottom has been made and the low on the right shoulder has been cut.

This is also the scene where the 1-hour MA diverges and then converges against the 4-hour MA, and once again heads for diffusion.

So, we set a buy order at a position above the neckline of the double bottom.

After placing an order

The order was executed above the previous high.

1st Profit

After the buy order was executed, it had a difficult time being pulled back a bit, but it extended higher without hitting the loss line. As mentioned above, there was a divergence from the daily and weekly MAs, and there was no telling when the price might pull back, so I took 1/3 of my position into profit at this stretch. I also raised the stop loss line so that it would not go negative, and went to extend my profit by 2/3.

2nd Profit

I went to extend my profit, but the next leg brought me back sharply and I had to close the position. I regret that I should have dropped the position after the first 1/2 or 2/3 position because there was some risk involved.

Thereafter

After the trade hit the settlement line, it went up again. If I had not moved the limit from the original stop-loss line, I could have taken a little more profit, but you never know what will happen at that point, so I try to trade defensively, as it is good for my mental stability to avoid taking a loss.

 

[Study] → [Understand] → [Be able to implement] → [Explain].
I am currently OUTPUTTING [Explain].
Explaining the rationale for trading to you all is a good way for me to learn.
I may have missed some parts, but thank you very much for reading to the end.