Aiming to complete the Pipsology school and then try and follow some methods from this forum. I'll use this to add on another lot as soon as it plays out. Posts recentes do blog. In the begining most new traders think this will be easy. Foi realmente o meu dia mais feliz sendo o meu primeiro ganho. Is contralateral exploration necessary in infants with unilateral inguinal hernia. Your degree is the one thing you can never lose in your life.
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My latest trade was the recent break of an up retracement to the eu. Looking at the monthly chart you can see price was trending down for 6 months. Looking at the weekly chart you can see a retracement ran up against that major down trend for about 6 weeks.
I drew in that retracement trend line on the daily charts and adjusted it slightly on the 4H chart and waited. There were many touches of that trend line and a few wicks penetrated it but no clear breaks back down to rejoin the main trend.
When it was clearly broken last week, I entered, looking for shorter retracements on the M15 to provide optimal entry points. I traded the eu, ej, gu and gj all down as a group as they often move together, but selecting each pair's entry carefully based on it's own movements. As they all moved down I looked for small M15 retracements to add on additional lots. The resulting trade ran for 3 days and made about pips. I just bailed out early last night for no good reason other than I was tired and not up to making a good decision so I took the least risk way out and bailed with my pips.
Looking at it this morning, had I stayed in, I'd be well up over pips. This trade is still going and I may re-enter today on a small retracement. If you have any questions, just ask. I'm always happy to look at charts. Lots of folks ask where I get my info on Forex markets. I use many sources, but here is a good one: Forex News by Forex Live. That's who I use! Hello Graviton, I have been following your thread for some time and it has helped me tremendously.
Working on the trend line breaks now. Used it today to take 28 pips from UJ demo UJ Hey grav, thanks for sharing! Not sure if i entered too early, when the housing news was on, it shot up a little hitting my stops. My qns is has the housing news anything to do with the eur gbp pair?
Or was is just normal PA moving? And also you mention upon a close and a break of a retracement trend line, you would place your stop opposite of the trend line, i can't picture what you mean by that.
Would it be the swing high? And oh last qns, you said you were looking for a break of retracement trendline on the 4hr tf if you were trading the daily, 4hr. So i suppose you would also consider the 1 hr TF, trendline break if you were trading the 4hr, 1 hr?
Yes, Gerry is a hoot. So, how is your trading going Hachiko? I haven't heard from you in ages. Trading is going OK actually. I then use M1 for final entry points to make sure I don't get hit with a reversal on entry. I find that your posting on choosing a direction and staying with it works well for higher TF trends. Until a crazy news event like yesterdays housing figures occurs; but thankfully I was saved by the ForexLive guys who had advance warning of bad news. Still finding money management the biggest challenge, but I'm confident I will get there by the end of the year.
I can't get more than 2 weeks up before a bad week at present. My current objective is to get a full positive month. Jamie, nice marked up chart. Of course, if I'm trading with the trend, as you have marked the short trade on your chart, there will be many touches of the trend line. I'll use a touch of the trendline and a bounce off it, to enter a with-trend trade, or add more lots on for an existing trade.
Note that for a well established trend, there will be many touches and bounces off the trend line, but only one, the last one, will truly break the trend line and reverse the trend. Yes, some of this stuff just takes practice. I don't know if you play any sports or any musical instrument, but it's like that. General spirit of this rule: If you're really only posting here to bring attention to yourself or your site, regardless of the context or how "free" the content is, you shouldn't post it here.
Content marketing is not allowed. Advertising trading contests is not allowed. This includes posts that state "PM me for details". No insults or attacks of any kind. Abusive posters will be banned. We don't care if they called you names first; report the abuse to us and we will deal with the offending party getting into a name calling spat will likely just get all parties involved banned. Want to post a trade? Users posting empty trades will find them removed.
You must be willing to explain your analysis and reasoning for the trade. Please do not ask for trading advice. Do your own analysis. There are a plethora of subs devoted to the various crypto topics. This sub deals with fiat currencies backed by governments. Refrain from discussing crypto. Also, any conspiracy thought about crypto replacing Forex is considered a troll post and will see that poster escorted out.
Are you new here? I have been doing the weekly analysis since dunno when and it has already become a habit.. Weekly analysis is a must as it provides us with the guide to trade for the week..
It's like a gameplan for the week and we will require a new one everyweek.. So here we go.. Moving in the upswing now.. Very strong bullish momentum.. Price hit 63 and closed above the Next target, supply line and Up trend is super strong.. Price is also moving in the downswing now.. The strong bearish bar this week gave us a lot of clue as to where price is going to head to.. The bearish bar broke and closed below the demand line, 63 as well as 0. Price should head down to test the previous swing low of 0.
We have already hit 1. Good strong bullish bar for the week and got hit.. Price also managed to close above the supply line and but its facing some resistance now from the previous swing high..
Price is wobbling due to the resistance from the previous swing high.. Hammer like bar which again failed to close below the support and range low..
Nice bullish bar but price is now facing some resistance from the previous swing high and supply line.. Downswing is over now and upswing is confirmed again this week.. Price did finally closed above the supply line..
Good up move and price did actually clear those previous 2 swing points easily.. A weak hammer like bar but price did not managed to close above the 0. Should still be heading down.. Hammer there but it does not look that strong..
See what happens at the 9 if price manages to get there.. This are my analysis and my thoughts.. Please do not trade off it.. It's just my opinions.. Trade your own analysis but I believe most of you won't get what I'm saying here..
We'll take it step by step.. I would like to post charts to better illustrate the points but I still can't do it due to post count.. If not, it will be hard for you guys to understand.. So just hang on for awhile.. They might be called leading indicators but how the indicators are calculated are by some formulas with price..
Meaning they are the 2nd, 3rd, 4th and so on derivative of price..
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