.

ishow2005:
Market doing what it knows how to do

What is it doing. Are you making the pips already?

I think maybe I should declare this week a trade free week. So many decisions are being taken this week including G20 meeting which will determine direction for next week.

This is the week where people blow up their accounts out of frustration and declare forex a scam.

What I am looking at n learning

News is important in this industry. But the news will not stop the market from doing what it will do. The players emotions will create lots of distractions but you have to remain upright. Identify the noise, smile at it and have fun.
Am having fun with trading here.

@fxwarrior.. You see I still stand on that your gold analysis... 1280 to 1260...the market noise will distract you from keeping a good analysis. It's good to adjust when there is need but you must be sure just when to.

infofirst:
And with those I have posted.... I will set a pending sell for EU at 1.1400. Tp... 1.1150. Sl. Nothing.... If price gets to 1.1830 and no sign of reversal. I will manually close my loss. If it ends as a loss. Then it will push me to ask myself questions. And that will no doubt open my mind further...

I hope we can make this happen this time around

Hopium:
Mid term outlook

Buy signal on usdjpy.

2-3 weeks hold.

Still waiting for entry

It's been a long time I kept a journal of my trade analysis. I did today, and I'm loving what I wrote in it. I'll do this more often as it helped gain focus on the little details.

--------

USDJPY CHART ANALYSIS - The "Why" for a Buy Signal

The Weekly Chart:
- Price bounced from a weekly support after a high momentum downtrend from 113.570; this happen two weeks ago.
- The long wick indicated a rich demand zone (buying zone) and a sign of trend reversal.
- The RSI is very oversold.
- Price is still close to the EMA 200. Price could potentially retest the EMA and flip it to a support.

The Daily Chart:
- Price started printing lower highs since the bounce. This indicates the prowess of the bulls and show that bulls are taking control.
- There is a 40+ pips gap expected to be filled.
- Price is currently at a KEY resistance level (108.768). A flip of this resistance to support, with good volume/strength, will signal a good buy signal. Watch out for fake breakout. There is a buildup on the 4H chart now (a textbook pattern to be precise); the MACD is showing a low volatility; you know what comes after a long period of low volatility, so, be on the lookout.
- Also see the move down from 113.570. Notice how violent it was, almost a vertical downtrend. This give me more confidence that this bounce is swing in the trend.
- The price is currently far from 50 and 200 EMA, a rubber band effect may come into play.

BUY ENTRY:
- A flip of the 108.768 resistance to support.
- The MACD showing sign of momentum and volatility to the upside on the 4H chart.
- A second entry above 109.071 (The current high of this swing)

TARGET: 111.20

Good journal

The very steep upward curve is NEW cash deposit, more capital to play with.

My Trade explorer adjusted my percentage gains to fit the new capital that is injected.

GbpUsd is coiling up on 15mins.

Making it look easier than it actually is.

Giving up, was waiting for GU and GJ all day long. Very boring day.

Who wants to share trading ideas? Anybody?

Tunderr:
Giving up, was waiting for GU and GJ all day long. Very boring day.

Who wants to share trading ideas? Anybody?

If you are a swing trader.. You could check up NZDCAD. Weekly and daily.

PJAMES1:



If you are a swing trader.. You could check up NZDCAD. Weekly and daily.

Right shoulder almost completing now. Anyone who swing trades can keep an eye on it

PJAMES1:


If you are a swing trader.. You could check up NZDCAD. Weekly and daily.

Not really.

Check your chart, is that recent Daily chart? I don't think so.

I think new lower low is created, I'd look for a continuation downtrend on daily chart.

To enter, you could wait to see some retracement on 1hr chart, then enter.

Tunderr:
Not really.

Check your chart, is that recent Daily chart? I don't think so.

I think new lower low is created, I'd look for a continuation downtrend on daily chart.

To enter, you could wait to see some retracement on 1hr chart, then enter.

The chart now.. The first picture was during the weekend. To ebter. What you need is a break of the neckline. It's not a now trade. Hence, the 'keep an eye on it'

PJAMES1:


The chart now.. The first picture was during the weekend. To ebter. What you need is a break of the neckline. It's not a now trade. Hence, the 'keep an eye on it'

Break (and maybe a retest)

harizonal123:
*Alert*
Buy
USD/JPY
Sell
GBP/USD

Trade closed at +12pips

PJAMES1:


Break (and maybe a retest)

Yes a break of that low would make a good entry, and SL would go up @ lower high.

Tunderr:
Lower TF traders, share what you've got.
How do you enter your set up?
What indicator(s) give you hint of what market is doing?

Are you trading live yet?
If demo, how's your demo going?

Do you have any problem with internet? or you simply have got no time to trade?

First thing to say. I am a newbie. Blew my first proper live account because of greed. Very small account. Got 70 USD to like 180 USD in like 2 weeks. Then blew it in a matter of seconds because I wanted to take advantage of a major economic event. Not going to trade live for a while. I don't trade with indicators. And it's all price action. At times, I look for entries on lower timeframes. The daily and weekly gives me what I need to know about what the pair is tending towards. Can't be spending so much time on charts because of my job. Next time I start live trading.. I am strictly going to be trading weekly and daily.
Let us look at this NZDCAD.
That's the weekly chart. So I have a long time bearish bias. So when I drop to a lower timeframe like daily and see a head and shoulder pattern which still points to my long time bias. If I see a break and retest with candlestick confirmation. I would enter the trade.
My entries still suck though. I am impatient but still learning. Maybe because I don't use indicators.

Demo.. A demo account I started in December.. 2nd picture. Demo account o. But I have blown some demo accounts too ����. Not claiming to be a pro. Still learning. Still a newbie. But with the nature of job I will be doing.. I seriously doubt I can trade the lower timeframes..

You're doing great. I like your chart, I could tell it's nice set-up without seeing the channel.

That's why one method doesn't fit all, you have to trade a method that works for you, you have to factor in time, family, work and every other thing.

I think Week/Daily will work just fine for you. Are you in Nigeria? are you going for housemanship soon? My brother is medical doctor, a consultant in Ireland.

Next time , when you set up a demo account , you should set the exact amount you think you'll deposit into your real account.

Tunderr:
You're doing great. I like your chart, I could tell it's nice set-up without seeing the channel.

That's why one method doesn't fit all, you have to trade a method that works for you, you have to factor in time, family, work and every other thing.

I think Week/Daily will work just fine for you. Are you in Nigeria? are you going for housemanship soon? My brother is medical doctor, a consultant in Ireland.

Next time , when you set up a demo account , you should set the exact amount you think you'll deposit into your real account.

Yes, I am in Nigeria. Currently trying to get a placement for housemanship. I hope to start in February or at most by March.
I will do just that. I will start another demo account today with what I think I will deposit into the real account. Hopefully, by the time I trade with the demo account for another 3 or 4 months, I will be able to fine tune my entry. And learn sticking to my plan. Those are the issues I have discovered. And I will never trade high impact economic news/event again. A lesson that will stay with me.

Tunderr:
You're doing great. I like your chart, I could tell it's nice set-up without seeing the channel.

That's why one method doesn't fit all, you have to trade a method that works for you, you have to factor in time, family, work and every other thing.

I think Week/Daily will work just fine for you. Are you in Nigeria? are you going for housemanship soon? My brother is medical doctor, a consultant in Ireland.

Next time , when you set up a demo account , you should set the exact amount you think you'll deposit into your real account.

Thank you. Will follow the advice. Thank you very much.

Tunderr:
You're doing great. I like your chart, I could tell it's nice set-up without seeing the channel.

That's why one method doesn't fit all, you have to trade a method that works for you, you have to factor in time, family, work and every other thing.

I think Week/Daily will work just fine for you. Are you in Nigeria? are you going for housemanship soon? My brother is medical doctor, a consultant in Ireland.

Next time , when you set up a demo account , you should set the exact amount you think you'll deposit into your real account.

Great for your brother. Another senior colleague working in a sane clime. I wish to stay in this country to work. But everyday, the reasons to leave are not exactly becoming easier to ignore.

GBP- Theresa May survived by a margin of 306 to 325.

PJAMES1:


Great for your brother. Another senior colleague working in a sane clime. I wish to stay in this country to work. But everyday, the reasons to leave are not exactly becoming easier to ignore.

Time will tell, take your time . My brother did housemanship in FMC Owo and left afterwards.

PJAMES1:



Yes, I am in Nigeria. Currently trying to get a placement for housemanship. I hope to start in February or at most by March.
I will do just that. I will start another demo account today with what I think I will deposit into the real account. Hopefully, by the time I trade with the demo account for another 3 or 4 months, I will be able to fine tune my entry. And learn sticking to my plan. Those are the issues I have discovered. And I will never trade high impact economic news/event again. A lesson that will stay with me.

Yes do that , start with something close to what you will deposit in your real account and try simulate how you will trade as real as possible. You will learn along the way what works for you and what not. You will be able to refine your method to fit your personality.

I think you will do great and your work will help keep you away from over-trading.

Summary of what a good trading system is all about that will stand the test of time.
#Dont try to reinvent the wheel cos you will never succeed in doing that

I

Tunderr:
The very steep upward curve is NEW cash deposit, more capital to play with.

My Trade explorer adjusted my percentage gains to fit the new capital that is injected.

GbpUsd is coiling up on 15mins.

Making it look easier than it actually is.

Could you recommend some indicators to use alongside the price action technique

**Alert**
Buy
Cadjpy
Nzdchf

Sell
Usdcad
Euraud

can someone put me through please on how to

U can search online for materials

Areaboyfriend:
I
Could you recommend some indicators to use alongside the price action technique.

Share what you do, maybe I could see a way to help , others could help too. It's not all about take , it's about give and take

Check out my old account , I stopped bleeding heavily a long time ago, but I still couldn't make any profit. My account will go up today and down the next day. When I'm fed up, I withdraw what I have left in the account and go on a break for a month or more, I'll always come back again, deposit, withdraw. A lot of back and forth.

See example of my back and forth below. Not being able to keep my profits.