Drawing correct resistance and support-lines

Quoting Umairs2004

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GJ Gone wild going with Long

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Quoting aiyahmarklah

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LOL, sometimes I wish I don't have to sleep....

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Quoting aiyahmarklah

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LOL, sometimes I wish I don't have to sleep....

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Quoting aiyahmarklah

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Lousy trade experiences are indeed important to draw lessons from. Looking pass to see what you have done right is also equally important. Personally I feel it important to review winnings more for the following reasons...

-It is depressing to keep going back to "feel" and analyze what has gone wrong as if going through bad experience once isn't bad enough. Most people would not have the mental aptitude to correct mistakes objectively. Why do you think problem gamblers keep repeating their vicious cycle of losing should they have known better ?

-Modern thinking in performance enhancement has advocated that mental replays or imagination of winning before stepping into action improves results tremendously in areas like sports. In trading it is difficult to imagine "what you have done wrong" and then correct it because you still have to go through pain which is not what we are designed for.
If runners visualize themselves crossing the finish line first before the gun goes off, if golfers imagine themselves picking up the trophy the night before the match...should't we do the same ?

-People tend to condemm themselves for their mistakes, condemnation doesn't help in trading or any other endeavours. Than what helps ?
seeing what you have done right gives you the courage to trade another day.


So spend your weekend analyzing mistakes, but spent more time looking at those profits and think how you can increase them. If you don't have any, then study other people's success. Be a happy trader

mARK

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Quoting Umairs2004

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Hahahha Well seems time to go short in GJ now for short trem short trade....See the 1-hour chart

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Quoting aediaz1

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Very good explanation !


Not able to post @ upcoming London session due to other issues Good luck trading guys/girls

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Quoting Umairs2004

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Hahahha Well seems time to go short in GJ now for short trem short trade....See the 1-hour chart

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Quoting yuna

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LOL, u reminds me of Wallenda effect and laws of attraction.. i don't think gamblers review their losses. there's nothing to review in gambling unless u're talking abt card counting or poker. maybe mahjong also. but like u've said, problem gamblers..

Yuna

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Quoting aiyahmarklah

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Yes indeed ! Thank you ! Time to short, would like to add that the rally failed to break previous day high as well, looking to play this pair within yesterday's range....waiting to see where the NY open will bring this pair to...

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Quoting aiyahmarklah

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Yes indeed ! Thank you ! Time to short, would like to add that the rally failed to break previous day high as well, looking to play this pair within yesterday's range....waiting to see where the NY open will bring this pair to...

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Quoting Umairs2004

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Beaware....
USDhttp://www.forexfactory.com/images/m...mpact_high.gifTrade Balance


I was assuming to go short but see this important data may reversed the whole situation...we have to see all the aspects before entering in a trade...technical+fundamentals....
But right now USD Trade balance reversed it

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Quoting Umairs2004

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Beaware....
USDhttp://www.forexfactory.com/images/m...mpact_high.gifTrade Balance


I was assuming to go short but see this important data may reversed the whole situation...we have to see all the aspects before entering in a trade...technical+fundamentals....
But right now USD Trade balance reversed it

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Quoting johnbaem

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salam to muslim and hola to all!

hi guys im new in here but ive been doing forex market for almost 2 years time with ups n downs...

this is tha trading style that i use and ive been stick with it for so long and finding this thread is awesome! credit to thread starter and also many in here who give valuable inputs..

i will giving high priority in this thread and will share my experience and and taught as well.. currently, im doing cable and geepy...

as of last nite for GU, i manage to catch drop after price breaking the trendline at 2.0100 and close at 2.0061 and just soon when london open another break up to the north and i do buy at 2.0095 and already reaching target at 61.8 fibo at 2.0155

overall : sell +39
buy +60
=99 pips.. lucky number is it!

im done for today...

cheers!

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Quoting aiyahmarklah

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I did have a back up plan, my "rescue" trade was executed but my short trade wasn't...got away with it. Heres how when you can be wrong and still pocket pips. Its a low risk quick play even with news around the corner as the pair eventually needs to decide whether to carry on with the bulls, if so breaching the previous day high is eminent. However this is a very very short term play, not everybody's cup of tea...

How about you guys ?

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Quoting Umairs2004

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Yuna See screenshot of 1-Hour chart... I was asuming to go short but see Important US Data change the hole situation... Reversal candle was there it also drops for +15 Pips before news but news suddenly changes the whole situation... Thats y being a day+technical trader i stay away to enter before imp. data's...
Dont be curiuos Much Hahahha see screenshot... Im 100% Sure if there isn't the Important data announcement then this pair was in a right place to drop... My Experience....

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Quoting Umairs2004

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lol i said in my post that it seems to go short but I know about the announcement of trade balance... Coz In normal conditions as a day trader i always avoide to enter before and after half hour of important new's as my SL is just 40-Pips in Jpys related pairs and 30-Pips in Others ...
Yep but in normal circumstances if i found the breakage after the half hour of news in my favour than i enter...
And about last prediction where i said seems to go short ...then i was predicting to go short coz of reversal candles in my favour... But after that Trade balance was announced & I know about its announcement. Im a big fan of this candlestick pattrens and they are believe me a strong weapon for you if u have it's knowledge in depth... I also post the screenshort's of my trades through candles here ...
GoodLuck my friend...
Happy Pips'...

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