My winning trades - 22 Jan 2025

The winning trade I show below was actually a trade that was opened on 8 Jan but the final part of the trade was closed on 22 Jan. Let's dive in.

On the daily chart the price action was suggesting a bearish bias and accordingly I had been looking for potential trade entries on the lower time frames. The time frame this trade was taken on was the 15 minute chart.

The trigger for this trade was actually the solid bearish elephant candle off the 200 SMA. I had come to the chart about 1 hour after this candle was printed and this additional data made me want to enter a short position.

After this bearish elephant bar off the 200 SMA, look at the subsequent candles after it. There were multiple candles with topping tail bars with one of those bars particularly significant. Note the square box showing the price action.

After having broken down after these candle I was very comfortable to enter a trade because the price action was so bearish.

Although there was a pull back of price into the range/box I mentioned, the price then dramatically moved to the downside putting me into a significant unrealised profit position relative to the monetary risk on the stop loss. The challenge now was profit taking!

The profit taking, which was done in 3 steps is below:

Take profits 1

Take profits 2

Take profits 3

Trade Clearly!