Simple and profitable trading style

I learned that the more S/R are retested the stronger they are. I learned this at the beginning of my study with Babypips

USDCAD is a great point for both the bulls and the bears- below resistance and above SMA. I wish I don't miss it in any direction

The more it has acted as SR at different points in time past (i.e the more history it has) the stronger but the more it is tested at a given moment the weaker it becomes for that moment. That is why Monthly Tf SR are stronger than Weekly Tf SR, and that is stronger than Daily Tf and so on - HISTORY. You get to understand that better if you study Order Flow.

hello 9ja, did you always chose trade entry with positive swap, cause you always mention about swap. i have been reading this thread until halfway though and sometimes you mention bout swap.

When you're able to catch trend, paying swap may not be any problem

Great breakout

I believe that both facts are correct since my trading S/R. All we just need is to wait and see which of the facts would be would be applicable.

USDCHF arrived at the decision moment. For three days it had been trapped below 1.00386 resistance .There is higher probability of the resistance breakout if we are to look at the negative correlated pair, EURUSD

The EURUSD bears had just taken over and its "almost" impossible for bulls at this time to take control. This is indicated by the distance of the upper and lower bands that are too far apart. Any bullish move at this time would have high probability to fail.
Am waiting for the USDCHF breakout. Hope to ride over 200 pips before the next resistance

I decided to join again as the level of the previous TP had been broken. Also weekly is closing below Bollinger Lower band after a long time.

Hope it triggers 243 pips scalping TP

I lost my bullish position UC. The breakout was "Fakeout"

Is USDCAD proving this to be wrong now?

Maybe the facts is being shown now. Joined the bears

Strong Bullish Engulfing on CADJPY

AUDUSD is forming strong Pin Bar on the weekly.If it does at the end of the day I would close my EURUSD, GBPUSD, and AUDUSD short positions. They're correlated

This Pin Bar on AUDUSD would be too strong to ignore as it's being formed on the recent strong weekly support

Good morning

I have no option to close my AUDUSD I just entered- too late; lost out

This first chart tells all the reason that breakout got reversed. The then R labelled A is a minor one usually should treated is really likely to hold but price bound to react there and most likely break it (in this case as can also be in other cases it prove to be relatively but still broke anyway). If I were to take the buy I would treat it as a scalp towards that Monthly Tf very very major R and my tp be below it.Personally I was waiting for that R to be broken before considering buy. However for scalping if I were to buy I would be buying at the candle labelled C. Believe me I had those SR before this movt, yes of course this explanation is influenced by benefit of hindsight now especially the scalping part.

As for selling now personally I would wait for a close below the minor S labelled B. Selling now is aggressive which is not bad. The second chart shows the break of very minor SR (H4) labelled G - the break of which said sell, but I have found that though the strategy works well on Daily/4H combination but a conservative approach is required (my demo account took a set of big losses recently as can be seen from my explorer, the reason mainly was the aggressive positions I was taking so I had to go do some paper trade back test and came up with a filter I am testing now (I may share in later post for collective testing for anyone interested and possibly fine-tuning).

From correlation angle, if oil pushes up CAD will give the bears the necessary boost, I am hoping that will be, given oil is generally bullish now in the medium term, but .....US SHALE !!!!!

Well, we (especially me) are all learning here and rubbing minds