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I will look to riding EURJPY southwards during the week. Here's why.

On the H4 time frame, an outer descending trendline (bold saddlebraown colour) from the high of March 13, 2017 is still very much in play while price action has moved lower, indicating an increase in momentum, to respect an inner descending trendline (bold magenta colour) from the high of March 17, 2017. The order flow context and the nature of price action last week showed that the market was in consolidation but the bulls were largely more influential. It is much likely that there wil be a retracement northwards before any further southward move is in play. A likely target of such a retracement is the intersection of the inner descending trendline and the immediate resistance zone, which is around 118.656 and 119.023 and which adjoins the 38.2 Fib zone from the high of March 17, 2017.

I may be wrong. Trade safe and prosper.

Attached Image (click to enlarge)

If you know when not to trade and then actually stop trading, you would go far in consistent profitability. Watch this video.

Trade safe and prosper.

KP

Just Sharing

Stop searching for the 'Holy Grail'! There is no single best trading strategy or system. Just focus on what fits your personality and trading style, and works best for you.

Trade safe and prosper.

KP

Here's why I will be looking for a sell trade opportunity on AUDJPY this week.

On the daily time frame, price action since March 2017 has been operating in a descending channel (dark violet colour) but since the beginning of April the price action has moved to the lower half of the channel, creating a pennant-like formation, portending an incrrease in momentum southwards. It should be noted that the most recent price action is within a zone which has flipped as an S/R role for a while. As there is a confluence of barriers in this zone, price action may struggle before it successfully breaks below the zone. This is likely to expose the next support zone, around 79.278, as the likely target.

I may be wrong. Trade safe and prosper.

KP

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Here's a video you may find challenging but could enhance your trading.

Trade safe and prosper.

KP

I will be tracking NZDUSD, which is operating within a range of about 160 pips. This may be a scalper's delight. But as a swing trader, I will wait until price action has passed no-man's land or break out of the range before looking for any trading opportunity. See attached chart; the range is mapped with bold saddlebrown horizontal lines.

Trade safe and prosper.

KP

Just Sharing

If you want to succeed in Forex trading consider this: I have always thought Forex trading was difficult until very much recently. Forex trading is very easy; what is difficult is succeeding in Forex trading. And here's why:

It takes a load of hard work and mental effort to plan and prepare for consistent profitability; and much more mental and emotional effort to wait for the right time, price and location. Only very few traders can do this.

Trade safe and prosper.

KP

hello,

would you please share ma setting
please thanks

20, 50,100 and 200 SMAs. However, MA settings don't matter; just pick the ones you feel comfortable with and that can serve your purpose.

Trade safe and prosper.

KP

I will look for the opportunity to trade USDCAD northwards this week. Here's why:

The technicals and order flow context of the H4 time frame strongly favour the bulls. The two ascending tendlines (magenta colour) are well-angled for enhanced momentum to the northside and since April 2017 the candlesticks have been predominantly bullish. Three ascending price waves have been fully completed on he H4 time frame and a fourth is in play, much likely to produce a pullback before any further northward move can see further impetus, more so since recent price action has been within a resistance zone. The wicky-top candlesticks recently formed on the H4 time frame give further clue as to the struggle of sellers to wrestle control from buyers, perhaps indicating imminence of a pullback.

I may be wrong. Trade safe and prosper.

KP

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Focus on being a disciplined trader with clear vision on trading improvement for consistent, long-term profitability. Any trader who remains undisciplined leaves themselves open to failure.


KP

Just Sharing

Here are some of the things I do to maintain trading discipline: Improve on my market analysis, identify levels/zones to trade from, develop key rules for trade entry/setup and wait for the market to come to my levels/zones.

Trade safe and prosper.

KP

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Demo accounts have their place in trading success. For success in live accounts, demo accounts should be used for developing and mastering one or two functional trading systems/strategies and learning solid risk and capital management.

KP

Just sharing

See what you can learn from this video to be a better trader.

Trade safe and prosper

KP

Here's why I would like to drive southwards with EURNZD at the earliest opportunity. Recent price action on the H4 time frame shows that buyers and sellers are in battle for control. The momentum for a northward move is waning, indicated by the weak slopes of the MAs I use and the fact that the most recent sessions saw the bears in control. Should this lead to a topping formation, we may expect price action to retest the ascending trendline (in navy colour) around the 1.59470 area, which adjoins the immediate support zone.

I may be wrong. Trade safe and prosper.

KP

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Just Sharing

Preserve your capital always and trade patiently; don't rush into trades, don't rush your entry - let the market come to your levels.

Trade safe and prosper.

KP

Here's why I will look to trade EURGBP northward this week. On the H4 time frame, price action is primarily on a northward move. Since May, two upward price waves have been consummated and a third is very much in play. This may consummate upon a further upward move, perhaps to the region of the next resistance around 0.87744, with a pullback to retest the ascending trendline (in magenta colour) or the immediate support around the 0.86720 area.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

Just sharing

Your trading will improve if you learn to read and analyse the market better; particularly using a top-down multi-timeframe approach.

KP

Here's why I am neutral on the EURGBP and will wait for the market to show me its hand. On the H4 time frame, price action is respecting an ascending trendline (in magenta colour). However, as the price action is around a resistance zone, a rejection of the zone southward may lead to a retest of the trendline and target the 0.86995 area, the origin of the most recent upward push. This scenario appears much likely to occur as price action has found it difficult to move much farther from the last two recent highs.

Trade safe and prosper.

KP

Attached Image (click to enlarge)

Here's why I would look to trading EURAUD southwards this week.

On the H4 time frame, price action has broken the ascending trendline from the low of April 2016 (magenta coloured line). One descending price wave has been formed which culminated in a consolidation during last Friday sessions; apparently preparatory to further bearish move for a second price wave to the downside. The current location of price action is an area which has served as an S/R zone in the past and adjoins the monthly pivot. I expect the zone to flip its role for further price descent. Should this happen, a natural target of price action is the immediate support around the 1.46886 area. Should price action move otherwise, it may target the minor resistance around the 1.49550 area.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)