Beginner's Disaster!

I just drink coffee in the morning so that I can sleep at night, HoG. :wink:

Lol, no I scalped for 11 pips, but I guess thatā€™s it for now. Couldnā€™t resist on that stopping volume (the green big dot).


Buckscoder, could you please elaborate on ā€œstopping volume?ā€ā€¦ how do you come up with that dot? thanks

Here is one text which elaborates already:

VPA-Volume Price Analysis (Price,Volume, Spread): STOPPING Volume

Plus I guess this vsa thread in here in bp would have also a good explanation about it. Now we have another one in the other direction on M30.

Itā€™s an indicator which is derived from vsa.


Now there is another green one on H4. I guess that tops everything else of the lower tfs, lol. Plus a hammer. What did I say a couple of hours ago, bullish breakouts every now and then. So, I lost my 11 pips and some more. Now I have to wait until my bots take care of some profits again, lol. :56:

Bouncing between daily and weekly pivots let me assume itā€™s the fight again of the daily bears against the weekly bulls.

Managed to take 50 pips from this morningā€™s trading. Off to work happy though I think price may go up through resistance at 1-4069 and get to 1-41. Having said that, Iā€™m not taking the chance myself. Happy with what Iā€™ve got without pushing my luck

Just realised after I made this post this morning that I had missed a golden opportunity to say Bingo Bango Bongo !!

If we could see every move before it happens, we would be gazillionaires in no time. But we canā€™t. Nobody can. Some have more luck than others, but in the long run consistency pays and not luck.

As I mentioned before, we are way overbought. Target now is a beta 4. so this is a trending environment actually and not ranging anymore, because it shows still strength. Iā€™d say it can go up to 14290 around before a major correction. As I also said before, the interest rate hikes now come into play.

Actually price went back into the channel, what leaked a bit. Top of the channel is around the price I mentioned and there is also a 62 fibb level.

Lesson from yesterday: 10 pips was cutting profits too short if stopping volume indications on a H1/H4 chart in H1 oversold territory happen. Particular with bouncing off weekly pivot.

We are now again above the 200 ema.

Have fun folks! :slight_smile:


This is another view with another daily worksheet chart I have:


That is one seriously fugly chartā€¦

Took a short at 1-4235, looking to go to 1-42 ish. Stop at 1-4250

Have to admit, closed the trade at 1-4215 for + 20, even though I still think it will go a good way back into 1-41ā€™s

My trades for this week.I think this week iā€™ve luck with the charts.



I dont know how many pipsā€¦around 400+gold.

well done you !! You can get the drinks in up at the bar then LOL :35:

:slight_smile: Yes, that was a good week, i was lucky luke!Itā€™s about 6% for this week, if all the weeks can be so that would be grait.
Which trading platform you use?

:slight_smile: Yes, that was a good week, i was lucky luke!Itā€™s about 6% for this week, if all the weeks can be so that would be grait.
Which trading platform you use?

Tempted to short EU even more on the formation of shooting star which has bounced off daily pivot R3. ( shown in RED elipse ) However, didnā€™t the same thing appear in white elipse. Or is the difference made because RED elipse star has been rejected from resistance ?

Still showing overbought in RSI.

Or again, does it make a difference that it is R3 it has travelled to and is now running out of steam ?

Using FXCM. Mainlty because it was the first I tried with a demo. Well, thatā€™s actually a lie, I first tried Forex.com, but their demo only lasted 30 days and I got fed up inventing new email addresses to rejoin. I like the FXCM platform interface though.

I think I tried OANDA once but couldnā€™t work out how to customise the interface to my liking so I chucked it.

Anybody any suggestions whatā€™s the best pair to short sterling against just now ? I was think CHF ater looking at the charts.

Iā€™d be wary about betting on CHF strength - the SNB instituted that peg in EUR/CHF and have sworn to defend it strongly. If you want to short GBP you probably want to match it up with a pair that pays higher interest and one that is more aligned to risk on such as AUD. If you believe the risk rally is going to continue that is I suppose. Though might have missed the bus already on that one with the 400+ pip fall in the past 2 days in GBP/AUD. I tend to stick to the major pairs myself though as Iā€™m not totally aware of all the factors that might influence that cross. If you think risk is going to turn off GBP/USD or GBP/JPY I suppose would be decent shorting material.

I have a short trade from 1.4232ā€¦ I got the signal from my 8H chartā€¦ Last night i lost 60 pipsā€¦ faded this strong move (yeah! I know I shouldnā€™t do it :34: ) and recover 15 pips in a stressfull morning