Pro7 PA trading analysis 28+GOLD

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

this is EURUSD D1 chart.

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."

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

Subscribed. Best of luck

Hi guys, looking forward to this

Hi prozor7, subscribed. Best of luck!

AUDCAD
buy scenario
MN - expecting to go up to 0.91956 where I will sell

D1 - expecting to find support @ 0.90748 - 0.90347 where I will buy


sell scenario
breaking 0.90374 TP 0.89539

AUDJPY
MN - expecting 70.082

D1 - can go up to 70.548

Hi Pro,

Just quick question. I know you mentioned your criteria’s 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 I’m sure straight forward system

Subscribed and best of luck

AUDUSD
W1 - rejected 0.65480 breaking potential up

D1 - potential up to 0.65936



range
H1 - up breaking 0.65282 will buy
H1 - down range 0.65066 above will buy - below will sell

enter the trade as price hit. EA does that for me .

yes. EA repeat trade as I enter values.

didn't know how to program that in MQL4 when multiplying lines for calculations

I didn’t 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

Subscribed!

GBPJPY
potential to go up to 134.124 resistance on the way 132.839 & 133.185


look @ H1 chart

Hi guys, subscribed. Best of luck!

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.

AUDJPY
watching 69.435 above buy TP 70.548

below sell TP 68.323