Bit far up in its range, but still plenty of momentum to get pips out of it.
LuXing
LuXing
Wisdom begins in wonder
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DislikedWhat happened this morning gave me the chance to see how sometimes I stay blocked on my (wrong) beliefs being unable to act on opportunities that market offers. Today I've been unable to accept the unstoppable ride of GBP because I couldn't find a logical reason to justify it. So while waiting for a sudden reversal that didn't arrive I lost many easy pips- The mistake I made was to over-think instead to act. Then, to complete the series of psychological errors I closed manually AUDJPY despite AUD being strong and JPY weak because PA was too close...Ignored
DislikedWhat happened this morning gave me the chance to see how sometimes I stay blocked on my (wrong) beliefs being unable to act on opportunities that market offers. Today I've been unable to accept the unstoppable ride of GBP because I couldn't find a logical reason to justify it. So while waiting for a sudden reversal that didn't arrive I lost many easy pips- The mistake I made was to over-think instead to act. Then, to complete the series of psychological errors I closed manually AUDJPY despite AUD being strong and JPY weak because PA was too close...Ignored
DislikedToday mixed results, tending to negative. USD (apparent) strength being the dollar in 1st or 2nd position most of the time during the first hours of LO session was somehow deceiving. In fact USD wasn't strong at all and this became clear with the big burst of GBP one hour after the good news release for the ccy. Before taking a position based on currency strength it is very important to check lower timeframes and strength increase/decrease across time. For such a whole view, tools like the ones LuXing showed some screenshots ago could do the difference....Ignored
Disliked{quote} Explain what you mean by late? Are you referring to conducting: 1. the chart analysis prior to a pending order being set 2. the pair or pairs to trade 3. the timing of the trade 4. something else Masterrmind........... :nerd:Ignored
DislikedSome more trades to get the balance right. Irony is that of all that flood of pips made available from GBP move I could only take -17 (stoploss), and being caught wrong-footed I wasn't able to catch the train any more. I'm happy the same. #7 USDCAD to TP #8 USDJPY to TP #9 EURAUDto TP #10 NZDUSD to TP Bubincka {image} {image} {image} {image}Ignored
Disliked{quote} Dear friend, I am interesting in 1) - chart analysis before pending set & timing (read = right moment) I mean choosing of a moment when price is ready to leave this range always difficult to me. This I mean when saying I am often late to trade because price made a rocket start from the range and I am not aboard.. It is more or less clear situation with pairs to trade. Thanks in advance ps my pips today: {image} Stay positive, MultimillionIgnored
Disliked{quote} Good trades, congratulations. GBP was doing its thing - an unstoppable ride - and you did not believe it ? Not believing = going against Einsteins Brownian motion (random walk principle) GBP was simply doing what all other currencies and stocks do: a random walk. In each time period, the GBP/x price takes an independent random step up or down, a so-called random walk. If up and down movements are equally likely at each intersection of the 00-levels, then every possible left-to-right path through an imaginary grid is equally likely priori....Ignored
Disliked{quote} P.S.: USDJPY, the H4 trend is your friend, better not trade against it. From left to right: M15, H1, H4, D1 (-; LuXing {image} {file}Ignored
DislikedToday early morning trades taken before FFO- #1 USDJPJ to TP #2 EURJPY to TP Bubincka {image} {image}Ignored
Disliked{quote} I suggest the following: 1. Study candlestick patterns (google the key words) 2. Chart structure (price order flow both short term and long term) 3. Pivot Points 4. DO line (what does price usually do in this zone?) 5. Support and resistance zones (key level and mini chart structure) 6. Fibs (if you wish but mainly to gain confluence or a general view on where price is likely to go) 7. Momentum (no need for flashing colors from a lagging indicator because you can train your eyes to see this ... just practice) 8. Risk (trade or not trade...Ignored
DislikedBetter late than never... Big move, bit of a pullback followed by continuation. GBPAUD & GBPCAD to TP. LuXing {image}Ignored