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14 Year Old Forex Trader's Lessons

  • #4,541
  • Nov 9, 2011 6:02pm Nov 9, 2011 6:02pm
Quoting Pbh
It's still a strong resistance
u have a point but see how price action made a demand zone below the supply?

its inching deepr and getting more used up
Have I got something on my face, SOLDIER?
  • #4,542
  • Nov 9, 2011 6:13pm Nov 9, 2011 6:13pm
Word of caution to sellers, we are at 61.8 bull retracement and we are at old supply aka it could become new demand zone! we might get a little retrace up for today and my magic 45 degrees angle is wanting somethng!


btw gold broke trhough pennant to the downside

we are on a 3rd wave possible 4th impulse on daily so be careful bears! might get some drawdown if ure not careful enough
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Have I got something on my face, SOLDIER?
  • #4,543
  • Nov 9, 2011 7:56pm Nov 9, 2011 7:56pm
sell on gbp usd.

pure price action nothing more.
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Have I got something on my face, SOLDIER?
  • #4,544
  • Nov 9, 2011 7:58pm Nov 9, 2011 7:58pm
sellers retreat, i retreat. 10 pips in the bag from that sell.
price stalling at tiny demand

total daily pips: 41 pips
Have I got something on my face, SOLDIER?
  • #4,545
  • Nov 9, 2011 8:02pm Nov 9, 2011 8:02pm
chf hits old support possible resistance
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  • #4,546
  • Nov 9, 2011 8:04pm Nov 9, 2011 8:04pm
id rather trade the momentum then, no short.

cancelled
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  • #4,547
  • Nov 9, 2011 8:33pm Nov 9, 2011 8:33pm
setup for aud usd: short
target at demand
Attached Image (click to enlarge)
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  • #4,548
  • Nov 9, 2011 8:37pm Nov 9, 2011 8:37pm
yep, probably institutional CHF buying
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V

that old support took months to reach so of course people would sell to make easy profits.

let it test the old resiistance for support finding and PA setup then lets buy usd chf but now, we shall wait.
Attached Image (click to enlarge)
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Have I got something on my face, SOLDIER?
  • #4,549
  • Nov 9, 2011 9:05pm Nov 9, 2011 9:05pm
trade concluded -11 pips on aud usd

short on chf hit on supply double doji followed by a bear candle that engulfs the doji

looking to Tp at old resistance
Attached Image (click to enlarge)
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Have I got something on my face, SOLDIER?
  • #4,550
  • Nov 9, 2011 9:08pm Nov 9, 2011 9:08pm
not even a snidgit of a minute


trade concluded hits demand +7 pips.
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  • #4,551
  • Nov 9, 2011 9:16pm Nov 9, 2011 9:16pm
now its a doji. see as retail traders we must not be too early, or too late, must be in the right place at right time. some amateurs sold too late and closed in loss.

usd chf possible bull flag to old resistance then we see PA setup and we long
Attached Image (click to enlarge)
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Have I got something on my face, SOLDIER?
  • #4,552
  • Nov 9, 2011 9:29pm Nov 9, 2011 9:29pm
Hopes this help
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If there was easy money lying around,no one would be forcing it into your
  • #4,553
  • Nov 9, 2011 9:32pm Nov 9, 2011 9:32pm
Quoting FXMindset
Hopes this help
thanx fxm! take care mate, ill inspect it carefully fosho
Have I got something on my face, SOLDIER?
  • #4,554
  • Nov 9, 2011 9:45pm Nov 9, 2011 9:45pm
no signals yet so far, chf has yet to drop for me to long
Have I got something on my face, SOLDIER?
  • #4,555
  • Nov 9, 2011 11:06pm Nov 9, 2011 11:06pm
Why euro and $ are rising? I dont understand.....usa is in big debt and eurozone too big trouble
  • #4,556
  • Nov 9, 2011 11:50pm Nov 9, 2011 11:50pm
Quoting bumapatria
no signals yet so far, chf has yet to drop for me to long
Just a nice pullback for another long set up is all I ask also; same for EUR-USD but short of course, probably too much to ask for after yesterday but then last time EUR made 550 pips run in 2 days correction
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It takes a lot for me to IGNORE you, but you can try.
  • #4,557
  • Nov 9, 2011 11:54pm Nov 9, 2011 11:54pm
nice erebus!
long time no hear from u i hope ure doing fine,

sold eur usd
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  • #4,558
  • Nov 9, 2011 11:56pm Nov 9, 2011 11:56pm
got out at demand +8 pips
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  • #4,559
  • Nov 10, 2011 12:03am Nov 10, 2011 12:03am
buyign and selling wont kick it. i could do it right now, but there is no that a setup yet so i shall wait for it
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  • #4,560
  • Nov 10, 2011 1:17am Nov 10, 2011 1:17am
Some quick buy scalp gold +70$
buyed at 1754 closed 1762
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