Disliked{quote} I think this will go down quite a while, but I am taking profits at 14.8 as my backtesting has shown for the last rolling month to be an optimal point.Ignored
- #1,062,623
- Mar 25, 2016 6:44am Mar 25, 2016 6:44am
{quote} For me it's still rather short than long, anyway, we got new high, also on DP there was no selling pressure it may pop to 74-75.
- #1,062,627
- Mar 25, 2016 10:36am Mar 25, 2016 10:36am
- Joined Aug 2009 | Status: Trader | 12,448 Posts
If you are new to Forex? Say Goodbye to your account!!
- #1,062,630
- Mar 25, 2016 11:32am Mar 25, 2016 11:32am
- Joined Aug 2009 | Status: Trader | 12,448 Posts
{quote} friendly advice, forget"trend" for now, Monthly May 2014 1.3993 11 months latter almost vertical drop, March 2015 1.0461 3500ish pips for the last 12 months she has been trading east 800ish pip "range" so should be looking to trade the range until direction bounce or continue south 800 pip range will have secondary trends inside this range, therefore selling the top of range buying the bottom etc is first option, working down through the timeframes -weekly market is just above the mid of the above range, mid are not good to be trading -daily...
This is AU, agreed it an easy one and it is retrospective, however anyone who seen it should have done really well off it
The red line is the highest she has ever been, I call a super range Top, she ranged (roughly) there for for approx 26months, the key was the the 11 months she ranged in a neat tight range, 1st red box, the pay off has been huge, she repeated the tight neat range 2nd red box, again the payoff has been huge, the next pattern was an expanding triangle, she paid also however she dropped into a falling channel which presently has broken north, normally called a bull flag, normally requires a retest of any break out, however aussie has a tendency not to retest (unusual)
Problem with trading ranges is they have to build first, (difficult to trade), then once built actually have to plan to trade the BO, (difficult to trade) however with patience they can still be used, example, if higher timeframe is south, range has built, can short the top of range sl just above, depending how greedy, close 1/2 at the range mid, and when pa nears the bottom of range move sl to just above mid, it will be locked green, if range breaks and continues trend south, you could have a 1/2 lot runner that could pays some bills for quite some time, if it goes back into range I personally wouldnt trust the range top again, pierced ranges are dangerous
anyway hunt patterns higher timeframe FIRST then go lower timeframes and look for trades, DONT fight higher timeframes, they will kill you every time
if your pr has no patterns find another pair5.30am time for bed goodnight enjoy weekend
If you are new to Forex? Say Goodbye to your account!!
- #1,062,632
- Mar 25, 2016 12:55pm Mar 25, 2016 12:55pm
“Hope is [a] bogus emotion that only costs you money.” - PETER LYNCH
- #1,062,636
- Mar 26, 2016 4:35am Mar 26, 2016 4:35am
- | Additional Username | Joined Dec 2015 | 3,529 Posts
- #1,062,638
- Mar 26, 2016 9:31am Mar 26, 2016 9:31am
- | Joined Mar 2016 | Status: Trader | 58 Posts
Hello Guys, I am new one and trading on demo account since two months. Please guide me which indicators should i apply for EUR/USD pair and which types of news leaves impact on this pair and how should i analysis this pair and which is the best strategy for this pair. Looking for the positive guidance from the most worthy traders. Regards, Tallha
Trade is a meta game, I myself use the concept of demand and supply(S/R), but do not trade every level. These levels should be trade combine with price action and other information. If use it wisely, it can give us good results. This picture shows a EURUSD day-trade(GMT+3). Although the demand zone broken a little, the supply zone gives a very good target for profit. Wish pips with you.
- #1,062,639
- Mar 27, 2016 3:50am Mar 27, 2016 3:50am
- Joined Dec 2015 | Status: Trader | 8,751 Posts
Do your homework, follow the footprints of smart money
- #1,062,640
- Mar 27, 2016 9:28am Mar 27, 2016 9:28am
- Joined Jan 2016 | Status: Trader | 1,309 Posts
Drawdown is more important than Account Size !