Trading In The Zone

Hello Everyone....

This is my first Trading Journal in Forexfactory. My name is Rana and I am a trader since 2005 but actively trading full time since 2008. I am not a big fan of indicators but use macd for divergence only. I just trade what I see...

My trading methods are really simple. Its completely Based on price action on H4/Daily/Weekly chart. I use 1%-3% Risk per trade depends on confluences.

I will try to post my trades and hope I will receive some good advises & suggestions from FF members.

Regards,
Rana A. Ahad

Just wondering if you could give a general run through of how you trade. Just starting to trade and would love to learn different methods of trading. I'm leaning towards a more naked style of trading myself. Indicators seem too unreliable to me so i rely on support/resistance zone analysis. Would love to hear how you analyse these zones.

Sorry I was Inactive in FF ... I am a old user of FF, since 2006 with my another ID but I am not a good writer... I will try to update my post and I think it will help me to keep and maintain my Journal :-)

The fiber (EUR/USD) bounced from 1.2161 and held 1.22 level as support on last Friday session. This bounce will give us an opportunity to sell this pair again as the trend is strongly bearish.

According to my projection fiber can be slightly bullish and hold 1.2270, 1.2380 level as strong resistance… if it breaks 1.2270 we can go for a reversal trade targeting 1.2380 (which i don’t personally support – to trade against the trend).

It is very difficult to take bullish decision on fiber as technically we can see a strong bearish move and all economic problem going on in European union. My bearish projection towards 1.19xx & 1.14xx level is active until it change the momentum and makes a new high in weekly and hold it as support. I will remain long term bearish but it will not move in a day…. It will take time to move towards bearish projection and once it confirms the bearish move we will again short the fiber but if it breaks 1.2520 level than it can slightly shake my bearish sentiment… best of luck for the week !! I will try to update more projections if I can manage time to write and update on my blog ~ Btw, this is not a signal and trade at your own risk.

Welcome back to FF Brother. Was going through your analysis and found it pretty much simple to understand. Subscribing to your thread here.

ITS A LATE ENTRY... I POSTED THIS IN MY BLOG AROUND 7 HOURS BACK... JUST WANTED TO SHARE...

GBPUSD HAS BOUNCED FROM 23.4% RETRACEMENT LEVEL 1.5387 AND BROKE THE TOP OF FALLING WEDGES AS WELL AS TESTED IT AS SUPPORT. ITS NOW FLOATING ABOVE MONTHLY PIVOT AND SOME STRONG SUPPORT LEVEL IS THERE AS WELL. MY PROJECTION FOR THIS PAIR IS ABOVE 1.60XX LEVEL. I TOOK A LONG WITH 60 PIPS STOPLOSS/EXIT PLAN AND MIGHT EXTEND UPTO 100/120 PIPS. IF ITS BREAKS AND CLOSES ABOVE 1.5670, THIS CAN BE A HOME RUN TRADE THIS A HIGH PROBABILITY TECHNICAL SETUP AND NO FUNDAMENTAL WAS APPLIED FOR THIS SETUP….

http://www.ahadrana.com/2012/gbpusd-...18th-2012.html

http://www.ahadrana.com/2012/audusd-...ly19-2012.html