THE only Pattern

I've taken a few decent point's on Both ..today.. no more for me...

Challenging market..

Morning!

Short EJ at 129.20. TP:129.01

you are early. i have just arrived.

Sometimes have to wake up early.

Took profit.

Continue from .............the bird's eye or helipcopter view – single pair. https://www.forexfactory.com/showthr...3#post11591853

Series 2: The way i see it ........... the Radar - multi-pairs that you monitor.

The first thing that newbies would want to learn and be interested in is trade entries at lower time frame and websites abound with all these. They may not even look at d1 chart. My opinion is that they should first encounter support and resistance in higher time frame instead. If you think deeply about it, it is actually where the win/loss rate is higher and safer entries are made at the extremes.

Many people use the currency strength meter to trade the strongest and weakest currencies. The indicator has it's strength and weaknesses as it indicates them at a point in time. You go to the chart and agree as it is trending well in the morning, then blindly open a trade without knowing that price is approaching a major support or residence zone. Then when London opens and wala you hit a break wall! The price reverses and later you realize that that was actually a retracement ..........

I liken support and residence to a military warfare with soldiers guarding at the border to monitor the enemy's movement, raising alarm when being approached. And the pairs you monitor as those territories under your control.

I can never understand that there are people monitoring 28 pairs. If i were to do so, i would be wearing a very big hat with my small head, taking in more than i can handle. The maximum i go is 9 pairs but 6 pairs suit my eyes nicely.

I have much to learn from the veterans here.

Continuation .....

What i have on my screen is as per picture. Simple, clear and uncluttered. Mainly monitoring 6 currencies pairs with the d1 support and resistance lines drawn 10 pips apart as taught by Atheer. Sometimes i have the trend lines drawn on h4 and h1 to indicate the general direction that i should trade. They act as support and resistance too. If I am trading against the trend line, that would be counter trend and I will take lesser pips as profit.

The screen of 6 pairs act as radar for me. When foreign forces (price) are approaching the border (support and resistance zones), i have to determine whether they are friendly, of which let them pass, or they are enemy, of which need to be repelled. All these you have to determine yourself with the aid of your allies (trend).

I also have a second more detailed profile hidden behind. When i see price approaching the support and residence zone i switch to a more detailed one. To see whether price is near previous day/week high low, this day/week open, sessions open, big round number, day pivot without the s and r. All these could act as support and resistance as well.

i know that you are a part timer. on average that would take you 5, 6 years to be proficient. i hope to shorten your journey.

Hi Inthebox,
Yes, trading part time for past 10 months, right now I only can read up at night and weekends ... will be devoting more time to learn in 2 months time. Thanks for helping me to shortern my journey.

Morning everyone
Nice post with explanation inthebox, thnks for that.
No clear setup or levels at the moment for me...

gbpusd is interesting.
take note of previous day's low, today open and london open.

Lol
I was trying to find at uj what were u talking about...

i quickly amend when i realised i typed usdjpy.

Gold seems to have taken off

previous week's high just above.

it's a buy for me. i can't ignore the m5 v shape upward thrust.
a bounce up from d1 support 1.2930 zone.

Was going to wait for that support on daily

Scalping some levels at pullback

very daring from your entry.

careful gu around d1 resistance, day pivot and brn 1.30