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Roadmap - A Way To Read Markets

Not a good day with lots of ranging and a 1% loss. Dollar moving slow due to thanksgiving holidays I believe.
Quoting 40PipsAlan
Not a good day with lots of ranging and a 1% loss. Dollar moving slow due to thanksgiving holidays I believe.
Dollar red news at the top of the hour with the release of the Fed Minutes from the last meeting.
My objective is to learn the skill of flawless execution of my trading plan
Quoting 40PipsAlan
Not a good day with lots of ranging and a 1% loss. Dollar moving slow due to thanksgiving holidays I believe.
I had one loss on EU and one winner on GU. Very slow
Quoting Chrobakx
{quote} I had one loss on EU and one winner on GU. Very slow
Lots of RED news all over the place and similar for rest of the week - be careful
every Saint has a past. Every Sinner has a Future
Grabbed 22 Pips countertrend on UJ
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same position as last week. Demo account up 7% with 2 days to go, so gotta be careful from now on.
Be confident with your trade decisions and any deviation to your trade plan, close it for a small loss and look for another trade.
Steer clear of news events.
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Got lucky on GU for +25 today just before the £ news. Other than that, very slow and ranging.
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Dax UK time - end of my two hour session nears - I usually stop at 10am.
Failed long into Asia session box, then a successful short, followed, later, by a nice long up through pre London box and Asia session range, through previous session high AND "Roadmap" kept me in that long trade.
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every Saint has a past. Every Sinner has a Future
I am done for the day because.........
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every Saint has a past. Every Sinner has a Future
I too am closing down for the week due to American holidays. Been a tough one but 8.4% added to the demo. Good weekend guys and happy pips next week to you all.
Parting shot on GU caught my eye. M5 range break and retest for 8 pips pushing the demo up to 8.7%
See the range better by zooming out.
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Some tips from this week that might help some people from a humble demo trader of +5 years of attempting and 2 weeks of good profits in a row, thanks to Laura's roadmap. Keep an eye on what the dollar is up to as most assets are linked to it to some extent. The picture shows UJ H1 chart for the last few days. Notice the bunching up over the last couple of days mostly from the Americans doing thanksgiving stuff. This will cause ranging on most assets as we have discovered on GU, AU, gold etc. Good trending prior to that giving us plenty of opportunities to make some money. Also notice my numerous trendlines mostly joining up the highs and lows. This has been my eureka moment of deciding which direction to trade in. A large number of you will say yeah "higher high, higher low is uptrend" but it wasn't until I started adding trendlines on the charts that it became a lot clearer. to me. A break of a trendline needs to ring alarm bells and make you decide on the next part of your trading plan. Spend time doing the trendlines, I clear my charts every day and start afresh, don't trade without proper consideration and avoid FOMO, avoid news events where possible. I did trade 2 dollar events this week to get my daily percentage up but not recommended. I use the FXSSI calendar indi to show up coming red news events on the chart. I can come up with some more tips if anyone is interested.

A
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File Type: ex4 FXSSI.Calendar.ex4   118 KB | 73 downloads
Got meetings and presentations tomorrow so London Session is looking tricky for me. Is possible I might see some action during US session.
Anyway. One good trade is all I need for my daily 2%, risk of 1%
Watching UJ for a break of the wedge pattern, Gold looking similar. GU might be about to head down from here.
Waiting for a trending pattern on the M5 charts, get in the M1 and nurse it to BE. Any deviation before BE close it and wait for another trade to appear.
Trade the swings. Good luck guys

A
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Quoting 40PipsAlan
Got meetings and presentations tomorrow so London Session is looking tricky for me. Is possible I might see some action during US session. Anyway. One good trade is all I need for my daily 2%, risk of 1% Watching UJ for a break of the wedge pattern, Gold looking similar. GU might be about to head down from here. Waiting for a trending pattern on the M5 charts, get in the M1 and nurse it to BE. Any deviation before BE close it and wait for another trade to appear. Trade the swings. Good luck guys A {image}
GU should head down soon -- will be waiting for Liquidity grab for the drop
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B4 Elvis there was nothing
Dax -silly short straight into the 200ma and 16000 BRN
But following long and short trades worked out
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every Saint has a past. Every Sinner has a Future
Quoting turnip15
Dax -silly short straight into the 200ma and 16000 BRN But following long and short trades worked out {image}
I think one more push higher will come before 500pip drop. Still have shorts from Friday and put to b/e for now... if it pushes up tomorrow i am only looking for shorts ----- Good luck all
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B4 Elvis there was nothing
Quoting T721
{quote} I think one more push higher will come before 500pip drop. Still have shorts from Friday and put to b/e for now... if it pushes up tomorrow i am only looking for shorts ----- Good luck all {image}
Sorry - I am only trading the Roadmap. Could you put your charts in Roadmap format as per the thread please
every Saint has a past. Every Sinner has a Future
Afternoon Dax - UK Time. Didn't get a trade until around 3:45pm due to price contained within Box high/lows and very large and whippy bars/tails. Past experience tells me to treat such candles with caution and wait. Sometimes you get a trade and other times you dont. So one waits. Worked okay this time ( blue circles). Finished for the day.
Kevin Box and Levels and numbers.....
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every Saint has a past. Every Sinner has a Future
Quoting turnip15
So one waits. {image}
How simple is that. And how impossible for most of them. You show a part of Your edge!
Quoting turnip15
Afternoon Dax - UK Time. Didn't get a trade until around 3:45pm due to price contained within Box high/lows and very large and whippy bars/tails. Past experience tells me to treat such candles with caution and wait. Sometimes you get a trade and other times you dont. So one waits. Worked okay this time ( blue circles). Finished for the day. Kevin Box and Levels and numbers..... {image}

Some good trades today T ! !
Oil today for me
🫎
The Best Loser Wins
No trades today as busy in meetings, hopefully tomorrow will prove to be better. Robot added 0.6% to the account so a little progress this week.
example of what I look for on the M5 charts. Higher high and higher low and SMA 200 holding support. Look left and see the higher low is in the previous swing high zone. SL below the SMA and take a long punt at the arrow. Drop to M1 to see progress one way or the other. We can add a fib expansion tool to our swing and target the 100% level. With a SL of around 10 pips, i am looking for a 20 pip target (also around the 100% fib) but will take as much as i can. Moving my stop up as Price moves up. Add my trend channel from the bottom swing lows and then copy it onto the highs to check for direction change. At the top we see lower highs meaning this thing is running out of steam and we need to close if we haven't already at our 1:2 TP level.
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