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Breakout London Timeframe

  • #521
  • Feb 11, 2017 3:38am Feb 11, 2017 3:38am
GBPUSD

I would prefer downtrend since it is coming make another lower low

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD+H4.png Size: 43 KB
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  • #522
  • Feb 11, 2017 3:41am Feb 11, 2017 3:41am
Quoting Monokl
{quote} EURUSD My short trade intact... Wonderful!!! {image}
EURUSD

My trade didn't survive. hit my BE.
if Monday ok, I will short more

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD+H4.png Size: 61 KB
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  • #523
  • Feb 11, 2017 3:52am Feb 11, 2017 3:52am
GBPJPY

Dragon!
Daily- still in consolidation, not much to see. Price could flip flop within the boundary. Long term is down trend
H4- beatifully in down. I will short more once Price showing the signal.
Most like the price will play around 140-141.


Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY+Daily.png Size: 44 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY+H4.png Size: 46 KB
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  • #524
  • Feb 11, 2017 4:15am Feb 11, 2017 4:15am
USDJPY

this is good trade for down trend.
I will short it next week....Probably good trade next week.
In that case, I have to close my current trade which still open.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY+H4.png Size: 51 KB
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  • #525
  • Feb 11, 2017 4:45am Feb 11, 2017 4:45am
For beginners:

Must read a LOT! Never stop learning!

www.Babypips.com Best resources to know what Forex, How it work, and many more...best thing is that it is FOC...no need to paid a few hundred USD just to learn the basic info

Learn Price Action include the candlestick pattern, price formation, high Low

Support & resistance - must go depth on what is S/R, how to draw it....

Moving average Method = learn how to use it, when to use it,

Finally, Combine all together with your MONEY MANAGEMENT & SELF MANAGEMENT (include your devoted time for FX/ psychology/ Your behavior pattern when trading)

Demo Trading until you can feel the flow of the certain pair. Must have consistent profit! No shortcut!

FINALLY, GO TO LIVE TRADING
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  • #526
  • Edited 7:26am Feb 11, 2017 5:09am | Edited 7:26am
How to do well in trading forex?
Only 2 criteria to MUST fulfill

TIME & PRACTICE
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  • #527
  • Feb 11, 2017 5:22am Feb 11, 2017 5:22am
With a good entry, you are already win half of the war.

The half of the war is depends on your EXIT method
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  • #528
  • Feb 11, 2017 5:59am Feb 11, 2017 5:59am
DON'T GIVE UP
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  • #529
  • Feb 11, 2017 6:27am Feb 11, 2017 6:27am
Great Job Monokl. Keep up the great works
  • #530
  • Feb 11, 2017 7:25am Feb 11, 2017 7:25am
every great chess player was once a beginner
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  • #531
  • Feb 11, 2017 6:03pm Feb 11, 2017 6:03pm
Quoting Ratson
Great Job Monokl. Keep up the great works
Thank you Ratson
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  • #532
  • Feb 11, 2017 6:27pm Feb 11, 2017 6:27pm
HI Monokl,
Good Morning...
AUDCHF
W1 Do you think this a nice area to Short?
I will wait for lower TF signal to short this pair
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCHF-Weekly 120217.png Size: 42 KB
  • #533
  • Feb 11, 2017 7:35pm Feb 11, 2017 7:35pm
Quoting ivy wong
HI Monokl, Good Morning... AUDCHF W1 Do you think this a nice area to Short? I will wait for lower TF signal to short this pair {image}
Hi Ivy,

good morning
I am away from trading desktop
i just use your chart to analysis

I feel this price coming An area whether it can successfully to break or not. From weekly, price showing retracement and coming to an area where the major decisions to be made either down or up.
I guess it come 50% fib retracement from the last swing,is it?

what is your entry timeframe?
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  • #534
  • Feb 11, 2017 7:50pm Feb 11, 2017 7:50pm
Your chart is quite clean.
why you don't put MA?
you can also use it as a tool to trade as a swing trader
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  • #535
  • Feb 11, 2017 7:53pm Feb 11, 2017 7:53pm
For anyone trade intro-day profit, you just need to buy any signal showing up...
simple and easy to practice...
beware if any major news happening for this pair because you may end up hit your stop losss unless you put SL 150pips, I can sure you won't get hit
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  • #536
  • Feb 12, 2017 3:12am Feb 12, 2017 3:12am
How to get a constant profit over time?
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  • #537
  • Feb 12, 2017 5:38am Feb 12, 2017 5:38am
Quoting Monokl
{quote} Hi Ivy, good morning I am away from trading desktop i just use your chart to analysis I feel this price coming An area whether it can successfully to break or not. From weekly, price showing retracement and coming to an area where the major decisions to be made either down or up. I guess it come 50% fib retracement from the last swing,is it? what is your entry timeframe?
Hi Monokl,
Yes... it is 50% fib retracement area, i will wait for trade signal mostly from D1 & H4. When there is a signal from D1, i will find entry from h1.
You know... whatever we decide (long or short) are depends on the market movement
Sorry for not showing much indicator on my chart, i like clean chart. I do use Fibo and MA to do my chart analysis, after that i removed
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audchf-w1-120217.png Size: 40 KB
Click to Enlarge Name: audchf-d1-120217.png Size: 35 KB
  • #538
  • Feb 12, 2017 6:31am Feb 12, 2017 6:31am
Quoting ivy wong
{quote} Hi Monokl, Yes... it is 50% fib retracement area, i will wait for trade signal mostly from D1 & H4. When there is a signal from D1, i will find entry from h1. You know... whatever we decide (long or short) are depends on the market movement Sorry for not showing much indicator on my chart, i like clean chart. I do use Fibo and MA to do my chart analysis, after that i removed {image} {image}
Hi Ivy,

totally agree with you which depends on market flow. Sometimes you forecast it up, it goes down. That's why economics guy like to talk and give idea on both directions. We just need to get prepare at least plan A and plan B or etc in order get to the train pips

And important it is depends on your profit taking whether hourly or daily or weekly or monthly. Every thing back to your R&R & money management

See you tomorrow
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  • #539
  • Feb 12, 2017 6:42am Feb 12, 2017 6:42am
You can risk or stop loss 100pips in order to get 10 pips reward. Do you think is it worth?

do you dare to risk 50% capital just for one trade which you strongly believe the signal is correct? Is it worth?

Do you buy 1000usd forex course which to learn on how to earn more money, but your forex capital is only 100usd? Is it worth?

Think twice for this week!
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  • #540
  • Feb 12, 2017 3:05pm Feb 12, 2017 3:05pm
MONDAY


Happy Trading for this week!!
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