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-   -   Pro7 PA trading analysis 28+GOLD (https://www.forexfactory.com/thread/998111-pro7-pa-trading-analysis-28gold)

prozor7 May 10, 2020 5:13pm | Post# 1

Pro7 PA trading analysis 28+GOLD
 
3 Attachment(s)
there is only one rule in this thread:
1. treat people the way you want them to treat you.

on this thread we are traders, what I mean by this is:
you have to defend yours believes with money - before making a trade you have to ask yourself hardest question: HOW MUCH I'M WILLING TO LOSE?

we are all humans! you can affiliate yourself as woman, man, color, religion.... on other place; here we are traders.

I will NOT allowed: insult, ego trip, humiliations others, trolls, mockery..... or any kind of disrespect.

you can post what ever you want except nudity, preferring help, humor, educations, analysis, trading plans...
post yours opinions without fear, there is no right or wrong in nature. this is a probability game, calculate that.

I love what I do, writing, analyzing, trading and I'm doing it with passion.
no indicators are needed, use bigger time-frame (MN, W1, D1) study charts, compare with others targets and if they are the same you are good to go.

I have 5 rules in trading
1. simple
2. systematic
3. do not assume
4. critic
5. do not panic


I will try to make this thread Pro7
1. Productive
2. Professional
3. Profitable
4. Prognostic
5. Progressive
6. Projection
7. Prospective

couple of tips
1. trading is all about timing
2. be patient with positive trade
3. be impatient with negative trade
4. each trader needs to know when is enough in winning or loosing!
5. how many pips (or money) you are willing to loose
6. feel inspired that we as a group can achieve our goals.
7. we can learn and help each-other, helping others, helping yourself.
8. wait until price come to you don't chase it
9. fun starts when you have something to lose and you care for yours losses. so what is your limit?
10. take care of you own trade
11. share trading ideas
12. help others if asked
13. post something funny
14. treat trade as business

welcome
Pro7

PS
do not trade because I post some targets!!! YOU ARE RESPONSIBLE FOR YOUR TRADE.
this is a probability game.

about Pro7_EA here
Pro7.pdf
Pro7_EA.ex4
Pro7_EA.mq4

prozor7 May 10, 2020 5:14pm | Post# 2

2 Attachment(s)
this is EURUSD D1 chart.
Attachment 3630769
nobody on this planet know where, when and why price will go.

my favorite book - The Denial of Death by Ernest Becker
ignoring the problem and by "tranquilizing oneself with the trivial".
since Ernest borrow above term from Soren Kierkegaard I found appropriate to quote Kierkegaard
"Life can only be understood backwards; but it must be lived forwards."

to apply above
"Forex can only be understood backwards, but it must be traded forwards."
Name:  eurusdf.png
Views: 9999
Size:  18 KB

prozor7 May 10, 2020 5:14pm | Post# 3

there are no indicator, lines are my calculations for different time frame, presented to my brain as fibo lines. this way I can easier catch potential trade with my eye.

how does fibo lines on charts work?
when price coming down it should find support on following lines 61.8% 50.0% 23.6% 0% (or 100%)
when price going up it should find resistance on following lines 38.2% 50.0% 76.4% 100% (or 0%)
0% 50% !00% are support / resistance lines

time frame | trading period | refresh time?
MN chart have Year fibo (year support blue lines) | trading period 1 month | every 1st in month
when zoom in
W1 chart have Quarter fibo (quarter support white lines) trading period 1 week | every week
when zoom in
D1 chart have Month fibo (month support yellow lines) trading period 1 day | every 1st in month
when zoom in
H4 chart have Week fibo (week support orange lines) trading period 4 hours | every week
when zoom in
H1 chart have Day fibo (day support green lines) trading period 1 hour | every day

explained lines:
"Quarter support" & "Week Support" is just a name calculated and refreshed on weekly base
difference is in calculations formula and when you trade
you trade on W1 chart for a "Quarter"
you trade on H4 chart for a "Week"
"Year Support" & "Month Support" is calculated and refreshed on beginning of the month
difference is in calculations formula and when you trade
you trade on MN chart for a "Year"
you trade on D1 chart for a "Month"
"Day Support" is calculated every day
difference is in calculations formula and when you trade
you trade on H1 chart for a "Day"

Correlation alarm
when you see post like this:
****** Symbol is overstretched (buy)
that means in correlations between 8 symbols; one is arrive to the limit of buying that means it is the time to exit long (buy) trade
for example:
GBPCAD
GBP is overstretched (buy) pullback expected
time to exit long GBPCAD
CADJPY
JPY is overstretched (sell) pullback expected
time to exit short CADJPY

RieseP May 10, 2020 5:26pm | Post# 4

Subscribed. Best of luck

SidneyMagal May 10, 2020 5:28pm | Post# 5

Hi guys, looking forward to this

F05 May 10, 2020 6:28pm | Post# 6

Hi prozor7, subscribed. Best of luck!

prozor7 May 10, 2020 6:29pm | Post# 7

2 Attachment(s)
AUDCAD
buy scenario
MN - expecting to go up to 0.91956 where I will sell
Name:  audcad.png
Views: 9825
Size:  16 KB
D1 - expecting to find support @ 0.90748 - 0.90347 where I will buy
Name:  audcadd.png
Views: 9786
Size:  19 KB

sell scenario
breaking 0.90374 TP 0.89539

prozor7 May 10, 2020 6:39pm | Post# 8

2 Attachment(s)
AUDJPY
MN - expecting 70.082
Name:  audjpy.png
Views: 9734
Size:  15 KB
D1 - can go up to 70.548
Name:  audjpyd.png
Views: 9740
Size:  16 KB

RieseP May 10, 2020 6:45pm | Post# 9

AUDJPY MN - expecting 70.082 {image} D1 - can go up to 70.548 {image}
Hi Pro,

Just quick question. I know you mentioned your criteriaís for entering etc. But do you buy as soon as price has broke these levels or do wait for candle to close? Do you use a hard stoplosses etc?

Bit confusing all in support and no resistances. But Iím sure straight forward system

mathy2007 May 10, 2020 6:57pm | Post# 10

Subscribed and best of luck

prozor7 May 10, 2020 6:57pm | Post# 11

3 Attachment(s)
AUDUSD
W1 - rejected 0.65480 breaking potential up
Name:  audusd.png
Views: 9665
Size:  21 KB
D1 - potential up to 0.65936
Name:  audusdd.png
Views: 9675
Size:  21 KB


range
H1 - up breaking 0.65282 will buy
H1 - down range 0.65066 above will buy - below will sell
Name:  audusdh.png
Views: 9667
Size:  16 KB

prozor7 May 10, 2020 7:20pm | Post# 12

But do you buy as soon as price has broke these levels or do wait for candle to close?
enter the trade as price hit. EA does that for me .

Do you use a hard stoplosses etc?
yes. EA repeat trade as I enter values.

Bit confusing all in support and no resistances.
didn't know how to program that in MQL4 when multiplying lines for calculations

RieseP May 10, 2020 7:23pm | Post# 13

{quote} enter the trade as price hit. EA does that for me . {quote} yes. EA repeat trade as I enter values. {quote} didn't know how to program that in MQL4 when multiplying lines for calculations
I didnít know you had as as E/A, although I suspect you enter manually?

I wish you all the best pro, no doubt your smashing it. I hang around

prozor7 May 10, 2020 7:30pm | Post# 14

{quote} I didnít know you had as as E/A, although I suspect you enter manually? I wish you all the best pro, no doubt your smashing it. I hang around
EA - manually enter values to trade

indicator - simple fibo drawn lines indy after I manually enter values to drawn

nothing is automatic before I manually input values

okehiedon May 10, 2020 7:47pm | Post# 15

Subscribed!

prozor7 May 10, 2020 7:54pm | Post# 16

2 Attachment(s)
GBPJPY
potential to go up to 134.124 resistance on the way 132.839 & 133.185
Name:  gbpjpy.png
Views: 9533
Size:  17 KB

look @ H1 chart
Name:  gbpjpyh.png
Views: 9534
Size:  18 KB

Vingado May 10, 2020 10:16pm | Post# 17

Hi guys, subscribed. Best of luck!

prozor7 May 11, 2020 3:32am | Post# 18

good morning to all

Simply-Me May 11, 2020 4:14am | Post# 19

good morning to all
Hi prozor, dobro jutro
I'm glad you've opened this thread and you are willing to share your knowledge with us.
Subscribing.

prozor7 May 11, 2020 7:37am | Post# 20

AUDJPY
watching 69.435 above buy TP 70.548

below sell TP 68.323


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