Petah:
I am expecting it to test the 1.27115 area before it flies. . .

If it does that, that's breaking of structure already. I won't even bother buying anymore today if that happens. If this market can flip back up, that would make it creating a double bottom, and that cyan thick horizontal line is a pivot resistance. So many confluences all happening at once.

I've set a buystop order far from the high, so I won't get activated by an ordinary wick, but instead a true candle break. We'll see how it goes. It all depends on if the support will hold enough to catapult the price up.

The resistance held, and the candle couldn't close above it. As you can see, there's a broken counter trend trendline, all needed is the price to close above the horizontal resistance and retest and break the recent high.

I don't have time to monitor this. So if anyone wanna take this trade. Let it get broken, reverse, and the recent high broken after the continuation. Trade like these are almost 90% accurate. The time and patience to wait is the problem.

This M5 and M15 timeframes respectively.

Cashhy11:
Comrades, see GU o. If price can return to break this high. It's gonna be a lovely long. Almost 1:2rr. We will be here waiting for it.
Another alternative is, if market finds support, and wants to start climbing back, you can enter and take profit at that high created. But it's just less stressful waiting for price break and retest and continuation, then join. They are the easiest trades to be in.

Guys check this out. GU has found a support at that former resistance zone that held it down for two days. But we can't just jump in, we need another confirmation, that it's truly found support.
First screenshot was an H1 timeframe, while the second is M15 timeframe.

Go to the 15mins TF and find a recent resistance, and wait for a candle closure above it. That's your trigger. It might not be up to 1:2rr, but at least more than a 1:1rr.
This is forex, it can do all these and still hit your stoploss, so don't try this at home.
From my end here, I'm waiting till 11:15 to see what this candle will do to know if I'm entering the trade or not.

DCroc:


Not bad.

Roughly how many pips do u make per week

Pips count? As a scalper, I'm never gonna make so much pips. Can't really say, I've never even paid attention to it before. I just execute trades after trades. But never had a losing week for the past 8weeks now.

Cashhy11:
Meanwhile the Gbp news at 7am just shot the pound out of the nasty range. This is a news candle, must be traded with caution.

Comrades, see GU o. If price can return to break this high. It's gonna be a lovely long. Almost 1:2rr. We will be here waiting for it.
Another alternative is, if market finds support, and wants to start climbing back, you can enter and take profit at that high created. But it's just less stressful waiting for price break and retest and continuation, then join. They are the easiest trades to be in.

Cashhy11:
That purple horizontal line is a zone I'm watching, any funny behavior around this zone. Man's out of the trade.

The price action is not looking good from a long perspective. Price is finding it hard to go retest the high it first created, anything that would make it break this low means, it's about reversing. Instead of being kicked out at BE, why not take something along


Modified: Price respected, didn't come down, and went up instead to break the previous high. But it has gotten to that zone I mentioned I would be watching for reactions around. Trailed the SL and I've been taken out at a better price. Didn't hit full 1:2rr TP, but still left with a 1:1.1rr.
One of those tricky trades, Next!

dmahn:


Now I ll stop watching GBPcad. The setup didn't come to my entry b4 it started flying.. Now it's too late to join the bus to TP... Nevertheless it's a good call, an agressive trader will be in good profit now

Being aggressive has lot of disadvantages too, you know this too, reason why you didn't join immediately after the breakout. This is one of those trades that makes one regret his stand, but we shouldn't.
For example, I don't look at profitable trades I missed for being conservative, but instead look at losing trades I missed for not being aggressive.

That way, you won't even feel disappointed anymore with this type of scenario boss man.

Cashhy11:
This is a trade I'm looking to long this morning, Let's see how this goes. A buystop order has been placed above that high just incase I wasn't online to monitor and time the entry.

That purple horizontal line is a zone I'm watching, any funny behavior around this zone. Man's out of the trade.

Cashhy11:
Guys, check GU out. It's been stuck in a 20pips range since Monday. The H1 has been in an uptrend for a while now. So for we short time traders. There's huge buying opportunities if it breaks out of that range. Because if you look to your left, nothing is holding it from not climbing up and the next supply zone is 70pips away.

We will see, fingers crossed.

Meanwhile the Gbp news at 7am just shot the pound out of the nasty range. This is a news candle, must be traded with caution.

This is a trade I'm looking to long this morning, Let's see how this goes. A buystop order has been placed above that high just incase I wasn't online to monitor and time the entry.

Guys, check GU out. It's been stuck in a 20pips range since Monday. The H1 has been in an uptrend for a while now. So for we short time traders. There's huge buying opportunities if it breaks out of that range. Because if you look to your left, nothing is holding it from not climbing up and the next supply zone is 70pips away.

We will see, fingers crossed.

GabsonFX2:
Discussion & Analysis
Someone should check GBPNZD on D1, and analyze. I see a potential there!

Let's see what you see.

I was hoping to short her before if it was able to break the support and retest it and break the low created while it was broken. But she said no, she wanted to head up, I told her fine, go up but I won't long you until you've broken the former support turned resistance and retest it and break your recent high created when you initially broke the resistance.

The arrow below illustrates what I'm talking about better. Wanna try my hands a little on swings.

DCroc:
U added Pivot 2 ur trading system. Where u using it during evaluation

Saw it recently last weekend while watching one of my newly found mentor videos on YouTube, since it's also basically a form of supply and demand zones, which I trade. I played around it all weekend and saw how powerful it can be, so I added it. I deleted all those S2,S3,S4 and R2,R3,R4 respectively, just using the pivot and the S1 and R1.

BeginnerTrader:
Keep killing it bro, no look bad. I wonder how una take dey trade currency pairs.

Same way I wonder why anyone will focus on just one instrument, when we have so many currency pairs lol. They are all the same, just pure candles sticks behavior around market turn around points(S&R) lol. Thanks bro. How's it going from your end there?

Cashhy11:
If this can come down a lil bit for me to pick it up, but it's almost 6pm I close all trades for the day. So don't really think this trade will happen.

Trade came down, but I'm done for the day already. We go again tomorrow.

If this can come down a lil bit for me to pick it up, but it's almost 6pm I close all trades for the day. So don't really think this trade will happen.

Cashhy11:
This is the trade I'm currently on, EurGbp, the H1 has been bearish for some time now, the retracement upward trendline has been broken, and former resistance that was broken with a fake out has later held, now retested twice to confirm the resistance will hold. I don't see any reason why this shouldn't drop to the downside, my usual 1:2rr.

But this forex, it can rubbish your analysis and make you look like a fool sometimes. So don't try this at home.

One of those easy trades. Trade fell in line. Next!

This is the trade I'm currently on, EurGbp, the H1 has been bearish for some time now, the retracement upward trendline has been broken, and former resistance that was broken with a fake out has later held, now retested twice to confirm the resistance will hold. I don't see any reason why this shouldn't drop to the downside, my usual 1:2rr.

But this forex, it can rubbish your analysis and make you look like a fool sometimes. So don't try this at home.

Christie171:
That should be 2018 🥱

Wow, 6years ago, so how has it been so far mam? The loss pains should be so minimal now I guess?

Christie171:
When I newly started trading on demo, I bought Gold, then got distracted without setting SL. Checking back only to see Gold descending to hell with my $2000 remaining just $200, I cried like a baby that day...I had to uninstall MT4 for good 2 months 😂

After that incident, I guide my demo account jealousy as if na my real money 😁😆

🤣🤣. I've grown over it now though, the losses don't shook me anymore now, maybe when I hit a crazy losing streak sha. I hope that day doesn't come anytime soon sha. What year was this you were talking about btw?

samfelly:


Actually, NO (to answer d bolded). Would've closed it long ago.

Maybe I should trade their places - Treat Main accounts as Demo and Demo accounts as Main. That ought to assist the psychology a little

There's no difference. Unless someone would have to lie to you to help him trade a demo meanwhile it's a live account. That's the only remedy. Once you are aware of what's at stake. The psychology will kick in again, and you start over planning.

It's just the psychology at play here. I think this psychological aspect is what's taking most of us years to master and not really the trading aspect per se.

samfelly:
My good trades only happen on Demo

Because you treat it as what it is "Demo". If it was live account, would you still have your stoploss at breakeven even after more than 1200pips move? Truly it's demo, but we shouldn't be treating it as such. Whenever I lost on demo when I was still backtesting, I always had mood swings.

I traded demo as if it was live account. I even stopped participating in those free monthly competitions since December last year, because of the effect it was having on my trading performances. If care is not taken, that's how one will spend 10years going in cycles.

dmahn:


Nice analysis chief. I love it when traders drop chart, there is always something to learn from na why i dey miss some guys for here. Well in trading there is always another side of the story. Just another perspective of mine that doesnt wrong yours, its just for educational purposes as well.

Looking at the weekly Tf , We are still in an uptrend, Price has formed an inverted H&S pattern with the neckline already broken which indicates a continuation, the right shoulder is the ideal buying zone but there isnt any buying confirmation yet so price might keep dropping since the weekly uptrend line is broken, However there is also a Weekly FVG at the right shoulder, which might be a zone for buyers as well.

Summary: I will not take any Short untill the weekly FVG has been invalidated.....and wont take any buys without seeing any buying confirmation on the weekly.

Seems GN is not ready to sell just yet. It formed my scalping pattern for short around resistance today and I sold it off, including GA too. I Didn't breakeven even, only to have it reverse back to me and hit my stoploss, including GA too.

Gold long came and made the day a better one after those two losses. EU buy too wasn't bad but I have to close now since it's already 6pm. Hope you bought that GbpCad you posted few days ago?

dmahn:


Nice analysis chief. I love it when traders drop chart, there is always something to learn from na why i dey miss some guys for here. Well in trading there is always another side of the story. Just another perspective of mine that doesnt wrong yours, its just for educational purposes as well.

Looking at the weekly Tf , We are still in an uptrend, Price has formed an inverted H&S pattern with the neckline already broken which indicates a continuation, the right shoulder is the ideal buying zone but there isnt any buying confirmation yet so price might keep dropping since the weekly uptrend line is broken, However there is also a Weekly FVG at the right shoulder, which might be a zone for buyers as well.

Summary: I will not take any Short untill the weekly FVG has been invalidated.....and wont take any buys without seeing any buying confirmation on the weekly.

I believe we are still in an uptrend also when zoomed out. Reason why I'm trying to be conservative with the entry and not aggressive instead. I believe if the price can break the support successfully, more reason I'm relying on a daily candle doing the breaking and retesting and taking out previous low instead of H4 or H1 for entry.

The past 3weeks candles doesn't look like what I would want to go against, The first of the 3 candles started by a liquidity grab to the upside and ended up turning a bearish engulfing candle. But like you said, there are always two ways to this market. It could go either way.

If validated, price might want to come down to retest that gold horizontal line I drew on the weekly timeframe image below, before continuing the bullish move to the upside. But if price decides to head up, I have plans for that too, since that's my original plan in the first place, it just had to break some few resistances and trendlines and retest for me to join.

Fingers crossed Boss, we'll be here waiting to see what market plans to do.

This is what I'm seeing on GbpNzd. A daily candle closure below that red horizontal line and a little retest to the upside, and another daily candle taking out previous low should be the entry trigger.

It's illustrated in the image below: The arrow is the illustration, a less aggressive entry should be after the previous low that took out the support zone has been taken out.
Waiting for the recent candle low that broke the zone to be taken out is just adding confidence and assurance that the first breakout wasn't a false one.

Well, all these are just mere analysis, and market might not even come down to break any zone and head straight up, it might even come down and break and do as predicted, but head to your stoploss after triggering you in. Don't try this at home.

Second image: The price action on H1 timeframe showing reactions at the zone I'm predicting will be broken soon enough. First time market touched the zone, it was rejected by a 60pips move to the upside before reversing and touching the zone for the second time, now the buyers were only able to push upside 30pips before it reversed again for the third time, and they were able to push it 40pips upward, now it's coming down again with so many wicks rejections on tops of most of the candles.


Will it be broken this week? I guess time will tell. This is for educational purposes only.

Cashhy11:
S&P500 with the same vibe. An H4 support held, current H1 resistance broken. There should be move to the upside. Not taking this trade, just for learning purpose.

Not enough volatility to push through to the upside. But one thing is certain, there are lot of buyers 5295 zone pushing price to the upside whenever price comes close to it. 4different 1hr candles rejecting with such a long wick.

Like I said it was just for learning purpose, as I would have closed the trade if I took it as it's 6pm already. Stay tuned next week. More of such analysis daily will be shared. Different timeframes but same analogy behind them.

bnanny:

Stop hyping.

Who are you people for God's sake? If you don't like a comment, you can just scroll through bro, it's easier that way, instead of trying to insinuate what you have little or no idea about.

GabsonFX2:
Gold long obeyed

Odogwu of our time. I can bet you can even trade forex with your eyes closed. Man scalps, Day trades, Swings. What really can you not do sir? Your not just a trader, you're a god when it comes to this 🙌

S&P500 with the same vibe. An H4 support held, current H1 resistance broken. There should be move to the upside. Not taking this trade, just for learning purpose.

Cashhy11:
Buy stop triggered. Let's see how this goes.

Modified second image: SL kissed. Done for the week. We go again the next.

Trade eventually played out, but my stoploss was too tight and I paid for it. Just wanted to make my target smaller, hence why i used a tight SL.
UsdCad returned half the lost fund though.

I just don't know why I prefer losing trade direction, than losing based on my own mistake. Even the most amateurish trader knows SL should be at least at that 1.26434 ish or even below. It's sometimes really annoying making rookie mistakes. We can only get better with experience.

Modified last image:

Cashhy11:
Buy stop order on GU. An H1 support respected and held, so I came down to the 15mins to spot a structure and latest support formed on that too(more like support on a support for higher confidence), so I can find somewhere to hide my stoploss. Today's Friday, so 1:1rr should do it for me so I can leave early. If that resistance is taken out, I think price should shoot to the next resistance as there's nothing suggesting otherwise. But market can also do the exact opposite. Don't try this at home.

I'm risking all yesterday's profit and 0.7% on this. Hopefully it works out.

Buy stop triggered. Let's see how this goes.

Modified second image: SL kissed. Done for the week. We go again the next.

Buy stop order on GU. An H1 support respected and held, so I came down to the 15mins to spot a structure and latest support formed on that too(more like support on a support for higher confidence), so I can find somewhere to hide my stoploss. Today's Friday, so 1:1rr should do it for me so I can leave early. If that resistance is taken out, I think price should shoot to the next resistance as there's nothing suggesting otherwise. But market can also do the exact opposite. Don't try this at home.

I'm risking all yesterday's profit and 0.7% on this. Hopefully it works out.