HEAVY Support/Resistance System

Nicely play, same thing, it was at daily trend line, I did a short also, but I din't hold as long as you do. I open and close multiple time on many pairs today

Anyway good job.


Did you try out UJ and EJ long for now ? They seems to be in the trend line.
I quite excited about whether NZD will hike rates or not. I hope they will. 97% of the forecaster predict they will hike rate too.

Wonder if it will spark a 50-100 pips rally like the march rate hike.

I don't have much time for trading so I trade at daily and 4h charts
I will wait for long over 102.70 for UJ,
and brake out triangle of EJ

Book Profit. Impact was not so powerful like last hike. Maybe a few more hours later when asia open might go higher.

Got to go to bed ! 515am here.

We will have movements at london market . Will be good to make some money on draghi speech later
which likely cause some movements.

Aud usd long
Eur aud short
Usd jpy long

All 3 are near trendline and heavy support / resistance -+15 pips

Book profit for eur aud 1.5 lot . Not bad 300 usd in 20 mins trade
Will reopen later if price is good again

Gold at key support.
Aud usd and nzd usd seems nice to long too

1 or 2 days ago I mention about XAU USD. (GOLD)

This is what i post previously (47 hours ago)



And below is what happen...





I din't long very big, my sl was about 10 points. But I long at the Heavy Support line

A good week for this week for sure.

AUD & NZD both struggling at trend line. Market is a bit risk off for now.

Maybe because of Fundmental reason rumors on Putin emergency meeting and market panic.





But it seems that the trend line is holding well.

Always use SL for trades. because we never know how much we gonna lose if things went sour.

3 Possible Entries of EUR/USD Short



I favor a short with 50 pips SL if entry at current price.
But for more safe trader, can entry at safer spot.

Next week we will have EUR Flash Estimate on Inflation. I favor downside for EURO before the news.
The trend itself seems downside.

IT could be point 2 for what EURO is doing now.
Remember the 1 2 3 pattern.



Step 2 also can be 1.3830 - 1.3840 range. But nothing is confirm in forex.
Just that we analyze trend and follow it to ride some small profits.

Someone took this trading, after reaching these two supports, made ​​a fake out as I call Ghous, and retreated over 2,400 pips

I call at 1272 too yesterday and make a pile.


------------

Notice that gold is going up, it sort of moving away from currency.

Yet eur/usd, gbp/usd is still on the upside of the downtrend, maybe after option expire at 30 mins time, we might see some movement heading into the weekend.

GBP-JPY increasingly set the price, may fall by the current strength vajista also shows great divergence.

I see a fall in GBP/JPY. But I think we got to wait for price to breakout first.

My chart is slightly different from yours. Breakout still quite far away, but it seems gbp/jpy is retreating from the high of downtrend.



Another chart to take note is GBP/USD downtrend. However recent plotted graph show gbp/usd is showing higher low. So its a case of caution.

If anyone did follow this post yesterday, they will make at least 20-30 pips per entry.

##########################################

This is my best week of trading session for this year 2014.

What I change in my trading style is

1) I constantly withdrawing profit and keep my equity at a certain level (Fxpro have a feature call Fx Vault where temporary hold my money.)
2) I use trend line to join the trend. I use heavy support/resistance zone as additional reason for entry.
3) I take profit when price seems to stuck / struggle and I re-entry when I am confident that the trend will resume.

----------------------------

>This week I make near 150% ROI. I din't risk all my money in 1 session, I just entry at the right spot.
>My best winner is Gold LONG at 1272 and close at 1290 which account for almost 1/3 of my profit this week.
I post my live chart at this thread most of the time.

1 thing I realize that

> Trader should not add to loser e.g after 30-50 pips and give excuses like market maker are pushing price up or down.
> Trader should look out for other opportunity to make money while your 'running' bad trade are losing money.
> You should not be discourage to look to open opposite trade against your original trade because whatever you open won't change
the market movement, what will happen will still happen. What you need do is keep earn more winning trades and increase your equity.

------------------

Example if you long EUR/USD, you should not be shy to long USD/CHF although its opposite, you need not put all your egg at 1 side.
As long trend line reveal the direction, heavy support & resistance give you the green light, just go ahead.


I realize usage of trend line and analyze chart , price action make my entry almost perfect. I trade big lot size, with tight stop loss.

I lose 4 trades this week, I open more than 100 trade positions.
The trades that I lose is because they are still unrealized loss and still running.

I din't really bother my original trade, I just open the trade base on price action & trend, support/resistance, I don't care if its against my original trades.
My purpose is just to make more money to my accounts.

With more equity, I can get more opportunity trading.

Money management is important also, such as transfer winning back to my vault. and not to my account because if I lose everything in accounts, I need not transfer money from my credit card into my accounts.



Do join this thread to post trend chart & support/resistance chart,
because the more people join, the more chances we would not miss out
any possible winning opportunity.

I am not showing off, I am always here, you can ask question anything related to trading.

I will help if I can. I not a god or a pro, I just someone trying to learn trading too. If you are new to trading and need help
or you are losing big money and want to earn back your money, then you can try to join us in posting charts.

Draw with trend line, indicate heavy support / resistance and potential entry. Together we can be profitable


Latest EUR/USD chart with trend line. I favor a short here. But SL need wide as EU got unexpected bull strength.

The coming week is filled with exciting news.

Euro Inflation Data - I expect EURO to touch 1.38 or lower before the news - position covering. So a scalp at the current price 1.3830 can reap some profit.
We also have payroll data, and the UK GDP q/q, the expectation was 0.9%, quite high in fact.

JPY monetary statement which will affect the yen crosses. I expect more stimulus and yen pairs to rise. but all we need to see is price action & trend line.

======

I saw this blog > http://ibankcoin.com/flyblog/ < from forexlive commentary, this guy state he win a lot of money and recently QUIT the stock market after losing 32% year to date, I read his recent blog post and knew he is doom to fail.

Holding losing stocks for 8 consecutive weeks.

Below are pointers to make ourselves successful.

- Never hope a trade will go your direction, if you open a position and you know you are in the right trend, it will go your way, no need to "hope".
- Never add to your loser too much, you will really get kick out of the game if its a big trend.
- Never add position just because you got no position, rather add because there a trend with heavy support/resistance
- Use STOP LOSS or put a limited amount of money in account.
- Lastly, the most common term here in Forex Factory is the "Market Maker" term which some traders are trying to guess what the big players are doing, I just think you don't have to know what they doing, rather ride the trend and get some pips out of it.


There also a lot of discussion on forexfactory in regards whether scalper made money. 1 thing about scalper is we don't lose big money, because our position are small and short. unless the scalper break the rule and hold a position by extend stop loss or add to loser.

Good luck next week, a lot of money to come. Play the Pounds, Euro & Yen crosses next week will be fun.
Should EURO & pounds fall, the best hedge is commodities, which will gain favor, especially NZD.

South Korea's Music Video to promote good behaviour.

sorry for the late reply....

1 - $ 100 a day or more.
2 - demo traded for 3 months. real trade since january.
3 - won in january and february. lost all the winnings in march.

I like scalp too. Dont like to leave positions open for hours.

Not sure if it make sense.

But its useful if you are short EUR/USD just like me.

Nomura Article on efxNews: http://www.efxnews.com/story/23962/e...decline-nomura

Theres 2 take profit zone . 1.3790 area or 1.3660 zone.

I prefer to take at 1.3790 and then re-short after ECB inflation data (depends on the data outlook)

Of course I will like to use trend line & heavy support/resistance for entry and not blind faith.

**If you did look at the chart i post on 3 points of eur/usd short entry on friday ***

You will notice that the 1 2 3 pattern , which step 3 lies on the 1.3790 area too.