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Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 7:03am On Mar 31, 2019 |
GBP pairs. Can be quite difficult to trade. Very volatile pair with a lot of news (brexit) around it. From a technical point of view, however, I think they may be about to sell off for a significant amount of pips... GBPJPY. From the first picture.. One could have anticipated some down movement for the completion of the double top. That's exactly what happened. In the process, the lower channel trendline was broken. Now we are at the neckline of the double top. One can wait for a break of the neckline before opening a short position. 2nd picture is where we are now. 3rd picture is GBPAUD.. The daily trendline has already been broken. If one can get a good enough pullback to the 1.8400 area, one might find a good opportunity to go short. 4th picture is GBPUSD.. Currently testing a daily trendline. Patience requires waiting for a break of the trendline, and waiting for the break a corrective structure on a lower timeframe before going short. Caution here.. It's not advisable to hold multiple positions on different pairs of GBP at the moment. Because of the whole brexit saga. And news can mess up the whole analysis. Probably better to stay out. 2 Likes 1 Share
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Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 6:50am On Mar 31, 2019 |
Good morning. Happy Sunday. Weekends are good times to prepare for the coming week. Would be posting my watchlist for the week. Again, note that these charts just represent my view on these pairs. And I may be wrong. If you have a different view, you are probably right. Also willing to learn from you if you think different about the pairs. The important thing for me is to get better. So will start with the GBP.. Next post.... |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 12:44pm On Mar 28, 2019 |
GladmanGoddey: So true!! 3 Likes |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 7:07pm On Mar 23, 2019 |
bojbest: I find it easier too during the weekends to look at charts. With time, we probably will get used to analysing at any time. It's better to prepare for the week ahead when the markets are closed, have watchlist and all. 1 Like |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 5:26pm On Mar 23, 2019 |
gloriana: Is this a standard account or a micro account? If it's a standard account, this is what I have to say... While your strategy may be very good.. Please don't learn money management the hard way. You could take time out to read about it and check up why people emphasise money management. 2 Likes |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 3:42pm On Mar 18, 2019 |
PJAMES1: If I got @pinbar right. This is what he taught us. I will be entering after break and closure below purple line. Note, I still only trade demo and I am entering a demo trade. So no pressure whatsoever. And this is not a trade signal. If you are trading live. Please, like I always say, stick to your entry criteria and your system (or strategy). 2 Likes
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Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 12:37am On Mar 18, 2019 |
infofirst: Alright boss. I will be watching the pair closely. |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 8:50pm On Mar 17, 2019 |
EURUSD. Will be looking for opportunities to go short. Daily 4 hour charts Bearish bias long term. We could see more upside though as you can see the descending channel. The upper trendline hasn't been touched yet. I will be waiting for a break of the 1.13029 area. Setup more valid if the break occurs in such a way that there is a (completion) formation of that double top on the four hour chart. Let's see what happens. 1 Like
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Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 2:32pm On Mar 17, 2019 |
telescopefx: |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 7:30pm On Mar 16, 2019 |
USDCAD Many seem to believe this is going up. Seen a couple of charts here and there. Reciprocated on my charts. Then found a setup on one hour chart. I also have a bullish bias I expect more upside move. Weekly Daily One hour chart Again no one can say exactly what the market will do. Just an opinion. 2 Likes
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Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 7:11pm On Mar 16, 2019 |
PJAMES1: NAS100 One of the few ones I got right. 24 days trading days after, more than 400 pips after. Price at projected target area. (7350 area)
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Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 6:54pm On Mar 16, 2019 |
EURNZD Could be a double bottom being formed. There is RSI divergence too. Setup for long-term buy only valid if that upper trendline is broken. Some caution here. Much more safer to wait for that to happen. As after looking carefully at the chart, I seem to see reasons to think up or down. But it's one to watch as a break of the upper trendline opens up a massive trade potential. Immediate short term. Personally, I am thinking of a long towards the upper trendline. Break of the lower trendline is also a possibility. But personally won't be looking for trades if it's the lower one that's broken. 1st picture is daily. 2nd weekly. 3rd 4 hours. NB: This is just my own view on the pair. Not a trade signal. Addition confirmation needed before trades are opened.
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Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 10:02pm On Mar 15, 2019 |
AwesomeDuru: Saw this on IG. Maybe can help you. Tell me after you see it so I can remove it as it's not my work. The setup looks good. I agree with the setup.. Bearish bias for now. I will be posting a setup on EURNZD this weekend. Opportunity to go long (EURNZD) if things remain this way till market close. |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 2:11pm On Mar 13, 2019 |
pinbar: Thank you very much. Understood. 1 Like |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 1:30pm On Mar 13, 2019 |
@AwesomeDuru You might want to take a look at USDCAD. I will check out gold and tell you what I think. Before the end of the day. |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 1:29pm On Mar 13, 2019 |
pinbar: I am interested. Thank you |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 12:17pm On Mar 12, 2019 |
infofirst: Hmmm.. Thank you very much. That example is gold. Some say if one can't sleep well while having an open trade. One is risking too much. If 0.01 goes against one.. 500 pips.. That's still like 50 dollars. It's why I believe one should calculate with a position size calculator and stick to that position size. And one should not risk more than 3% of one's capital. |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 11:31am On Mar 12, 2019 |
Shevychen2: It's just my opinion. Our experiences shape our bias. Have had a bad experience with a major economic event before. Hence, my bias. Still learning. But I understand your point. Proper money management and the use of stop loss should be good enough to avert any major mishap. Thank you for the tip. 1 Like |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 10:08am On Mar 12, 2019 |
I have learnt my lessons about news and major economic events. Best thing is just to stay out. Protect your capital. 1 Like |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 10:06am On Mar 12, 2019 |
pinbar: I can relate to this. Last brexit meaningful vote. Price kept dropping from morning till evening. They announced the result in the evening like this.. GBP went on an aggressive rally.... |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 3:12pm On Mar 09, 2019 |
Fair week.. Thank you for all the charts and help. Definitely belongs to the hall of fame here. Great man, legend. Wish you all the best bro. 1 Like |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 3:08pm On Mar 09, 2019 |
seyiade26: Still here bro 1 Like |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 6:41pm On Mar 07, 2019 |
coolvibes: Nice thread. People should go through this. Thanks for sharing. 1 Like |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 5:46pm On Mar 07, 2019 |
PJAMES1: Would be watching this. If things remain this way by end of the trading day.. A sell might happen.... 1 Like
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Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 4:05pm On Mar 07, 2019 |
GladmanGoddey: Thank you. |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 3:01pm On Mar 07, 2019 |
EURUSD Before and after. A simple setup. One could see the descending channel and rejections from the upper trendline. The black line area is the target I had in mind with the setup.
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Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 2:51pm On Mar 07, 2019 |
GladmanGoddey: There were. Euro Interest rate decision. Speech by the President of ECB. Check forex factory for news event. The red ones are high impact news. Or download Tradays. It's an app with news events and little explanation of what they mean. 1 Like |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 1:40pm On Mar 07, 2019 |
infofirst: Thank you. 1 Like |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 10:42pm On Mar 06, 2019 |
JoshMedia: I don't know anything about their investment account. |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 10:42pm On Mar 06, 2019 |
seyiade26: |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 9:30pm On Mar 06, 2019 |
AwesomeDuru: Not trading live at the moment. Not likely I do for the next six or seven months for some reasons. I have traded a live account before though. A short trading career . I grew 70 USD to about 200USD in two weeks. Then blew in a matter of seconds. Wanted to trade a news event. I was very naive. Plus greedy. Opened a lot size of 0.3, I think equity size at the time was about 160,170 USD. A couple of pips.. Margin call. Can't do something like this again. Learnt immensely from the short time and the margin call. I am never trading news again. One can't precisely say what will happen to a currency pair. One must always have it in mind that the market can go against one's bias or position. That would make one have capital protection in mind when opening trades. One must always have it in mind that the opposite of what I expect to happen can happen. Money management is almost everything. Before opening a trade, one should think if there is a flash crash that goes against me while I am in this trade, would my account still be fine. One must protect one's capital at a cost. If one loses one's capital, then one can't trade. Mine was particularly annoying because the other trades were doing fine even after I got the margin call. Would have been very fine if I had not made that decision to trade the news. Psychology is very important. You can have nice setups.. Get the direction the market would go and still make losses.. I needed to work on my entry. Already doing this. One doesn't just jump into a trade because a resistance or support was broken or sth. There is a need to know what exactly one is doing. At the moment.. Not going to invest my money yet. A lot of things still to work on. Getting there slowly. It's a gradual process. 9 Likes |
Business / Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 9:00pm On Mar 06, 2019 |
NZDCAD At the ceiling of a ranging market. Let's see what happens.
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