PJAMES1:
USDCHF.
I am still bearish.

Benqozenero:


Great analysis. I am also in a sell here. But i would be looking to close my position once price gets to around the current 4hrs Support. This is because a bullish Flag Reversal is just around the corner in CadChf 4hrs tf. This would probably affect the UsdChf free fall.

Just my opinion. Also to call your attention to it in case you see it happening.

Benqozenero:


Great analysis. I am also in a sell here. But i would be looking to close my position once price gets to around the current 4hrs Support. This is because a bullish Flag Reversal is just around the corner in CadChf 4hrs tf. This would probably affect the UsdChf free fall.

Just my opinion. Also to call your attention to it in case you see it happening.

PJAMES1:
CHFJPY. Daily.
Patterns do fail but if this goes the direction I think. This would be perfection.
Price broke a descending trendline.. Retested and was was rejected off the trendline.. And is now presenting us with another entry opportunity by forming an inverted head and shoulders pattern.
This new entry opportunity will be at the neckline of the inverted head and shoulders.

Ooba:
I'm actually looking to sell there in 30mins if there's a consol and a healthy sell candle forms.

Skateboard till mama calls

PJAMES1:
.

For my buy to be valid, there is need for a decisive break of the neckline of the inverted head and shoulders pattern. My trades are typically medium to long term. You are more of a short term trader. And at such.. That may explain why my analyses may not align with positions you intend to take.

longlife20:
Oil has finally wipe out all the last week gain, back to the level it end two weeks ago.

Ooba:
Jamace that one pass me ooooo

meshpips:
Greetings everyone,
here is a little post to help some people understand the logic behind my volume adjusted price (VAP) technique.
Imagine you are a bitcoin exchanger and had four transactions yesterday as follows:

1. Sold $2,000 worth of bitcoin
2. Bought $300 worth of bitcoin
3. Sold $1,000 worth of bitcoin
4. Bought $100 with of bitcoin

What is the EFFECTIVE (or NET) buy/sell volume done?
Buy transactions = $300 + $100 = $400
Sell transactions = $2,000 + $1,000 = $3,000
Net transaction = $3,000 - $400 = $2,600 (sell side)

The effective (or net) transaction done is $2,600 sell.
Now, someone else who is not keeping track of whether the transactions are buy/sell would record the effective transaction differently as shown below:

$2000 + $300 + $1,000 + $100 = $3,400

The value above is the TOTAL volume done ($3,400) while ($2,600 sell) is the EFFECTIVE or NET volume done.

MT4 records TOTAL volume transacted but what we really need to know is the NET volume.

So while you will be seeing price at $3,400 on your MT4 screen, the TRUE price is actually at $2,600 (sell side).

Ordinary price will keep on deceiving you. Until and unless you adjust the price in keeping with the volume and order type, you will not be able to get a TRUE representation of what is happening in the market.

I do hope that this post helps someone understand the need to use VAP instead of ordinary price.

Thank you.

bojbest:
Guys check this out

http://9jaforextrader..com/2019/09/trading-setup-for-september-29th-4th.html?m=1

bojbest:
Guys check this out

http://9jaforextrader..com/2019/09/trading-setup-for-september-29th-4th.html?m=1

Benqozenero:



Thanks for the explanation on this. But how do we apply this into our trading? Is it that when analysing the chart (drawing our Trendline, Support/Resistance level, Zigzag pattern etc), we should not use the price we see on the chart rather the VAP? Please throw more light on this.

meshpips:


You can use those price points only AFTER determining where the TRUE price is located. The VAP will also show you where the TRUE support/resistance levels are.

The deviation of price above/below VAP can also tell you when a particular bull/bear move is exhausted and ready to reverse.

There are quite a lot of ways to use VAP but the above mentioned are just a few.

Every price point has an ON -TO (ONE TO ONE) mapping with ordinary price. So once I see maybe a support on VAP, I can easily get the location on the ordinary price chart which other traders are looking at.

Benqozenero:


Thanks for this enlightenment. Can you please share with us the VAP indicator you are using so we apply on our chart and see how we can get use to it to improve our trading!

bojbest:
New Month Tip.
1) Never risk more than 3%
2) Let your winners run and cut losses fast
3) The Patient dog always eat the fattest bone in this business. Learn to wait for your edge to present.
4) The market will be here in 10yrs, please never plan on getting rich quick or else you are back to square 1. The Forex game is a marathon and not a sprint.
5) Have a reasonable capital!!! $100-$500 is small to make a living off this business. But who says you can’t compound small gains??


Have a Great Month.

Benqozenero:


Thanks for this enlightenment. Can you please share with us the VAP indicator you are using so we apply on our chart and see how we can get use to it to improve our trading!

unclenna:
Am really Happy people you people are still upholding this thread. @Ooba, I like your trading style. Is same as mine. Simple but powerful. If you can use 1hr with that S/R system and target just 20pips each day for 10 pairs you will be the next FX Millionaire. I still remain Unclenna. #FXPAYS

Ooba:


I need to last longer than this 40sec papapa guy. At least i should thrust until chf is dry.

I went to 30min from wed last week and it was really spectacullar.

unclenna:
OK. But my system allows me to close shop before 2pm and focus on other things.

Ooba:
There are couples today.

Eur is almost at the registry to kiss the bride

Gbp!!! i dont know may be he wants to go to magistrate. Should we tell him that no divorce is allowed. Go and kiss your bride. I just begging you.