I'm a Lemurians

I will use this thread to record all my learning process about Price Movement Analysis in forex market.


The basic concept of my analysis in this thread are base on:

FIRST:

"...Because foreign exchange is an OTC market where brokers/dealers negotiate directly with one another, there is no central exchange or clearing house. The biggest geographic trading centre is the UK, primarily London, which according to TheCityUK estimates has increased its share of global turnover in traditional transactions from 34.6% in April 2007 to 36.7% in April 2010. Due to London's dominance in the market, a particular currency's quoted price is usually the London market price. For instance, when the IMF calculates the value of its SDRs every day, they use the London market prices at noon that day...."

Taken from http://en.wikipedia.org/wiki/Foreign_exchange_market

SECOND:

"...The spot foreign exchange market has a 2 day delivery date, originally due to the time it would take to move cash from one bank to another. Most speculative retail forex trading is done as spot transaction on an online trading platform... "

Taken from http://en.wikipedia.org/wiki/Spot_market

THIRD:

The best article that i've ever read, and only a few new comer read this stuff

http://www.forexfactory.com/showthread.php?t=7484



KG

Since 'Sydney Open' till 'Tokyo Open' gbpusd play above London Close (1.6266). And this condition make price move to Normal Distribution area (-1 to +1) of BB 24 Hours, i assume price will move around BB 24 hours SD -1 to SD +1. Price currently is above Last 24 hrs POC (1.6276) too, means buyers order is bigger then seller order. So, i decided to entry BUY at 1.6276 and the target is around yesterday POC (1.6326) or depends on the conditions. I will cut loss my position if price play below London Close (1.6266).

KG

Narrow Asian session today.. GBPUSD only move in 22 pips range since Tokyo Open. I don't like this movement... so I set SL to BEP+1 for safety :-D

KG

PS: +1

Buy target current POC 1.6279

KG

Move SL to BEP+1
We'll see then

KG

PS: close +30 pips

Hope back to POC today 1.6278

KG

PS: Closed +51 pips

Sell EURUSD, hope back to today POC 1.3959.

KG

Set SL at BEP+1, could eurusd back to POC today?

KG

Buy GBPUSD at 1.6244 first target 1.6278

KG

PS: Closed at 1.6269 +25 pips

Sell GBPUSD, first target 1.6278, second target 1.6251. And will close manually depends on price movements.

KG

PS: Closed +82 pips

Sell EURUSD target 1.3984. Will close manually depends on price mevements.

KG

PS: Closed +35 pips

Buy GBPUSD, first target 1.6278 (again?) and second target 1.6320. Close manually depends on movement.

KG

PS: Cut Loss -25 pips

BUY GBPUSD at 1.6196 target 1.6278 or depends on price movements.

KG

PS: close +10 pips, price tendency to down still strong. Waiting another moment

BUY GBPUSD again hehehe. If price could play above 1.6204 i will hold my position and 1.6277 is my target.

KG

PS: Set SL at BEP+1

SL hit +1 pip

BUY EURUSD target 1.3977.

KG

PS: Set SL at BEP+1

SL hit +1

Sell GBPUSD, target 1.6106.

KG

PS: Close +10 pips

Sell EURUSD at 1.3894 SL at 1.3924, first target 1.3870 and second target 1.3813.

KG

PS: closed +5 pips

Sell GBPUSD at 1.6160, first target 1.6106 and second target 1.6072

KG

PS: closed +10 pips just wait london open

Buy GBPUSD at 1.6137. If she could play above 1.6159 i think 1.6204 will be a nice target.

KG

PS: Closed +51 pips.. enough... wait another moment

BUY EURUSD at 1.3862. If she could play above 1.3912 i think sehe will try back to 1.3977 area.

KG

PS: Closed +20 pips.... wait another moment