Trade of The Day: Perfect Trade, Mostly Based on Fundamental Analysis
Trading Analysis > Trade Of The Day
GBP/AUD: 318Pips Profit in Seven Days.
Perfect Trade Based on Fundamental Analysis
Kevin.H. from the United States is currently trading in our 52K evaluation program.
Kevin.H. testify himself as a long term forex trader.
He has 5 years of trading experience in the Forex market.
Here is a short description of his trading strategy and his trading method:
I analyze the big fundamentals for a particular currency based on sentiment indicators, then look for price action confirmation on weekly/daily/4 hour patterns.
On 21/01/2020 he opens a buy position on GBP/AUD and he held this position for seven days.
It also seems that he open buy position while the price was in bullish momentum in the high time frame charts, so it seems like a continuation trade.
He opens this buy position just when the price broke out resistance zone in the lower time frames.
During all this time he held the position the price had many technical corrections,
Holding this position during these corrections for seven days definitely required patience and tones of discipline.
The Max DD for this position was only 31.8 pips which indicates a very accurate entry-level for a long term position.
Kevin.H. close this position on 28/01/2020 with a 318pips profit.
Compare to the Max DD this position suffered from, it seems like a great Risk-Reward ratio for this position, the DD is about 10% of the profit.
Holding a position for seven days definitely required patience and discipline from a forex trader, many traders would run away before.
Definitely wise decision to close a buy position when the price reaches a significant supply which we can see in the weekly chart.
So far, the exit level seems very accurate since the price really got blocked at that supply level.
Great position from a great long term forex trader, it seems Kevin.H on his way to pass the evaluation and become a funded trader.
Profit: 317.7 pips
DrawDown: 31.8 pips
From Peak Potential: 65.7 pips
Duration: 7D 4H 8M
The 5%ers’ Score: 1544.65
Well done to Kevin.H. for his perseverance.
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