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The Wanderings of Tashkent

  • #61
  • Sep 23, 2014 10:36am Sep 23, 2014 10:36am
re-enter with higher leverage - winner.
almost 0 risk trade.
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  • #62
  • Edited Sep 25, 2014 9:55am Sep 24, 2014 12:56pm | Edited Sep 25, 2014 9:55am
GBP at crossroads.

if hourly close above the zone - buy; below the zone - sell. can't be easier than this.

and it was that easy
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  • #63
  • Oct 24, 2014 8:31am Oct 24, 2014 8:31am
good to go
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  • #64
  • Oct 28, 2014 1:15pm Oct 28, 2014 1:15pm
bullish setup
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  • #65
  • Oct 29, 2014 4:54pm Oct 29, 2014 4:54pm
Quoting tashkent
bullish setup {image}
about 100 pips
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  • #66
  • Oct 29, 2014 4:59pm Oct 29, 2014 4:59pm
Hi Tash

Was the USD/CHF Bullish set up due to the previous resistance turning into support..

Regards

Dennis
  • #67
  • Oct 29, 2014 5:04pm Oct 29, 2014 5:04pm
Quoting dennis4u15
Hi Tash Was the USD/CHF Bullish set up due to the previous resistance turning into support.. Regards Dennis
you may look at it from R/S point of view, there is little more to it but a "yes" answer to your question would not be wrong.
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  • #68
  • Oct 29, 2014 5:10pm Oct 29, 2014 5:10pm
Thanks Tash

Yeh that's all I could see...maybe I could look at price action...still trying to learn.


Regards

Dennis
  • #69
  • Oct 29, 2014 5:19pm Oct 29, 2014 5:19pm
Quoting dennis4u15
Thanks Tash Yeh that's all I could see...maybe I could look at price action...still trying to learn. Regards Dennis
i could have explained but it takes too much time. keep trying. your eyes must be trained to see all patterns and candle formations from first glance. one day you will be able to read the chart like a book, literally. every candle contains pages of information if you want to write it down
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  • #70
  • Oct 29, 2014 5:24pm Oct 29, 2014 5:24pm
look what i have for you here:

absolutely different pair, do you notice anything?
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  • #71
  • Oct 29, 2014 5:30pm Oct 29, 2014 5:30pm
it looks similar to the USd/CHF
  • #72
  • Edited 5:54pm Oct 29, 2014 5:37pm | Edited 5:54pm
Price took awhile to get to the demand area...but went like a rocket when it touched the demand area...lots of buy orders must have been placed there...it went up to the resistance area where it is kind of stalling, waiting for more orders....its just that I only see these when it has happened...that has been the case of my struggles for the past few years...never ever have I had a positive month...I have a couple of trades that work for me but guess that's just pure luck...well I come to FF to see how the pros are doing and that makes me happy cos it shows that it can be done and atleast some out there are doing ok trading.
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  • #73
  • Oct 29, 2014 6:30pm Oct 29, 2014 6:30pm
Quoting dennis4u15
Price took awhile to get to the demand area...but went like a rocket when it touched the demand area...lots of buy orders must have been placed there...it went up to the resistance area where it is kind of stalling, waiting for more orders....its just that I only see these when it has happened...that has been the case of my struggles for the past few years...never ever have I had a positive month...I have a couple of trades that work for me but guess that's just pure luck...well I come to FF to see how the pros are doing and that makes me happy...
lets start with this: i am not a pro.

however, i can help you with your problem (i have problems too, so hope you can help me too )

my first question to you:

what are you good at in forex?
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  • #74
  • Oct 29, 2014 6:54pm Oct 29, 2014 6:54pm
Well I am able to spot S&R areas...I know its not hard....the problem is that even major S&Rs are broken easily with small candles and as soon as trades are placed in that direction it reverses and when I wait for reversals it does not happen...I do look for candle patterns at these zones but mostly it doesn't work...I know for some it works but I have tried a few methods with no success as yet.


Regards
  • #75
  • Oct 29, 2014 7:10pm Oct 29, 2014 7:10pm
Quoting dennis4u15
Well I am able to spot S&R areas...I know its not hard....the problem is that even major S&Rs are broken easily with small candles and as soon as trades are placed in that direction it reverses and when I wait for reversals it does not happen...I do look for candle patterns at these zones but mostly it doesn't work...I know for some it works but I have tried a few methods with no success as yet. Regards
this is a good observation.
the truth: S/R zones do not work all the time.
if you trade them, make sure these zones hold or break. for that you need patience. do not jump in any trade immediately unless you see higher high or lower low. make sure weekly and daily trend are backing you. which means you must trade bounce or retracements only.
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  • #76
  • Oct 29, 2014 7:34pm Oct 29, 2014 7:34pm
Hi Tash,

Thanks for the reply...looking at the Eur/Usd 4hr chart I have drawn a support level...I haven't placed any trade at that level yet...looking at the daily and the weekly it seems we are in a down trend. On daily a lower low is visible...if we look at the daily and weekly trends it seems that this support on the 4hr chart may not hold for long...there maybe a bounce or so but if there is a big reversal candle(s) then maybe we can see a change in trend starting from the daily then onto weekly....so we have to wait for a few 4hr candles to see some price action...this means we cant place trades any time soon as we are looking at higher time frames starting from 4hr chart...am I on the right track...
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  • #77
  • Oct 29, 2014 7:44pm Oct 29, 2014 7:44pm
Quoting dennis4u15
Hi Tash, Thanks for the reply...looking at the Eur/Usd 4hr chart I have drawn a support level...I haven't placed any trade at that level yet...looking at the daily and the weekly it seems we are in a down trend. On daily a lower low is visible...if we look at the daily and weekly trends it seems that this support on the 4hr chart may not hold for long...there maybe a bounce or so but if there is a big reversal candle(s) then maybe we can see a change in trend starting from the daily then onto weekly....so we have to wait for a few 4hr candles to...
excellent. no longs.
now draw horizontal lines at the upper and lower body AND high/low of the last completed candle. then switch to hourly and 15M candle. you should be able to see a few things
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  • #78
  • Oct 29, 2014 8:02pm Oct 29, 2014 8:02pm
Hi Tash,

Is this what we have to look for...it shows a bit of momentum towards the downside...Please do advice


Regards
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  • #79
  • Oct 29, 2014 8:05pm Oct 29, 2014 8:05pm
do not be deceived by the S zone. there is no guarantee it will hold. have a look at where price is looking for.
we need price action similar to oct 12, 15 or 23
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  • #80
  • Oct 29, 2014 8:08pm Oct 29, 2014 8:08pm
Hi Tashkent,
I'd like to pay attention to your thread. Good to see you're open to share your trades.
Only wish I have something to offer, but none at present. On the verge of giving up forex altogether, actually. Perhaps one last attempt, to gauge if some traits are needed for successful trading and I simply lack them all.
When in doubt, HEDGE
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