Babypips School Report October 2019

Beginner Questions
1

So it’s like 1 month since i started to study the beatifull world of FX from Babypips, right now i have finished the High School and i’m trying to get some practice with the demo.
I learned a lot of things like how avoid fake outs, how read the chart and what he’s telling to me, how read news and how use multiple time frames.

It’s crazy! I just tried to take a fast look at the my pref currency EUR/USD and now i feel a lot of comfortable about what is happening and why the price is doing something.
For example in the image below i did a fast multiframe analisys to find the Trendline within S/R.
I have used stochastic for check the overbought area ecc and i have find a new strong support.

(upload://eZju2Sg495ALjQz3srmUREMJhCr.png)

xTql5So - Imgur
xTql5So - Imgur1928×1067 187 KB
2QKPgN5 - Imgur
2QKPgN5 - Imgur1932×1079 257 KB

3 Likes
2

Welcome to forex bro!

3

nice mark ups on the second pic :+1:t5: keep studying those charts! :slight_smile:

4

Well done & nice to see your progress; keep uploading your charts! By the way, are you trying to focus on Price Action trading with support/resistant?

5

Good findings, welcome to the forum!

6

Well actually i like to trade near the resistence/support, actually i’m building this habbit:

  1. Recognize and draw trend line from 4h chart
  2. Take a look at 1 hour chart and 15 minutes chart to see how well the trendline hold the price
  3. Keep following the price with the 15 minutes chart by drawing support and resistence and also using some indicators like MACD or STOCASTICH.

Usually as i said i wait for the price to bounce and i use MACD and Candlestick analisys for that, (I’m still in a demo)

7

Great progress mate! Keep 'em coming!

8

Thank you!!!

1 Like
9

Awesome; keep practicing. Support/resistant is very important trading tool!