Trade & Learn

Hi, I have learned Forex for about 4 mouths and demoing for about 2 months. I trade with price action, SR, trend line for now. I will post every trade I take soon after I enter the trade or place my pending order. I welcome any comment or discussion and also you can post your trade here.

The reason I make this thread are to share what I have learned and to learn from others comment, discussion, or even question from other in this thread.


hi all
what do you guys think about this?
down trend seems over when price cross trend line, then starting its uptrend. at intersection between daily support n up-trend line the price form a “2bar reversal”

I welcome any comment and discussion.

(I enter this trade on Friday n now the price has hit TP1, so I take partial profit and to protect my capital I move SL to Break even)

Ray


ZOOM IN


its went up n hit my TP1 then went down hit my BE. lucky I did my BE otherwise I would suffer some lose.

What I learn : BE is important to protect my capital, even though I only take small profit but I didn’t lose my money that’s mean I have bigger chance to survive and to gain profit in long run. Am I right?



Pin Bar, double bottom, Support line and fibb 61, trend line, all these reading show me that the price will go up. I set my trigger few pips above the pinbar high as buffer.

will move SL to Breakeven immediately the price hit green line (BE Level)


BE Level line was hit ----- SL move to BE
now I trade for free, waiting price go beyond TP1, if Price close beyond TP1 I move SL to BE Level line.


the price hit my TP1 during Europe session, then bearish pinbar form around US session, too bad the pinbar nose did’t hit my TP2, I close manually below the Pinbar.

the price is struggling below the pinbar now, it might go up or go down, but I am afraid it will go down because there is bearish pinbar at strong resistance (0.71800), so I close it.

I gain 1.58% profit with stop lose 3%, not a good ratio, but at lease I didn’t lose. I wish I close the it the second when the pinbar form, unfortunately I wasn’t online at that time, I might win 2%.

anyway GOOD PRACTICE.

I need to improve my chart analysis.

I welcome any comment or discussion or question.
also welcome if you want to post your trade.

another trade I take today. It is not triggered



Hi Ray.
Just curious, but if you’re trading with Price Action why do you need Fibs?

Hi eddieb
I am not sure using price action together with fibb is a good idea or not, i am still learning as i said. But i read on james16 thread(forum at other web) and learn from there about combining price action with confluence, that confluence can be fibb, sr, divergen, trendline.
In my own oppinion sr, fibb, trendline are quite subjective and very popular among taders, many people use it as entry level so it make a good place for me to entry as well.
do i make any sense?

Ray,
Makes sense, trade how you wish and experiment.
I asked because when traders say they use Price Action it is usually a naked chart, or perhaps just a simple moving average added to help spot trends.

Correction to my previous post, what i wanted to say was fibb, trend line n sr are quite objective not subjective

Are u using price action aswell?

I use a 60 sma on 3 time frames, 4h, 1h, and m5


I cancel the trade because the pinbar high war break, thats mean it is not a valid pinbar, anyway today is brexit, so unexpected might happen

Elliott wave practice
Elliot wave give me more understanding how the market move :53:




A 2Bar reversal form at Very Big Round Number support 0.96000 & fibb 61 & bullish trend line

base on Elliott wave I marked the price is forming wave 4, probably a triangle. the 2Bar reversal attached to the triangle bottom line.

my target is a bit bellow resistance 0.96929

let see how it goes.


the price did move up to 0.96634, it didn’t hit my TP at 0.96929. then it went down and hit my BE. Lucky I manage to move my SL to BE when the price at 0.96481.

so now I am not sure if the form is triangle, it might be a flat with combination, or it only a flat and beginning of wave 5.
hahaha. I get confuse again.


another Elliott wave exercise.

an Impulse is about to form its full pattern. now is forming wave 4 which is triangle.

the guideline are:
-if triangle formed before wave 5, wave 5 usually move fast and extended
-one of wave 1,3,5 usually extended, wave 1 and 3 are not extended, so probably wave 5 extended
-wave 5 might form truncation