Hi,I’m Janey and I started trading two years ago (July2020) and I want to share the little knowledge I have while we grow together❤️.
Ps- I’m open to Constructive criticism…Keyword-CONSTRUCTIVE.
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WATCHLIST: GBPAUD
POSSIBLE REVERSAL/CORRECTION
Using the 1D chart,we can see the pair is now in a strong resistance area that has held for a long time.This pair could breakout but a correction is due before the rally continues (if it would). RSI is heading into the overbought region while the lower timeframes is already overbought. We are looking for a rejection in the strong resistance area shown above.
Risk takers can SELL now with SL above the resistance area, while others can wait for a rejection in lower tf (1$4hr) before selling.
Goodluck.
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Nice chart ! Looks like she is near or just cracking above resistance line. Years ago I was taught that the more times price hits a resistance line or area . It makes that resistance line weaker and weaker. RSI 14 still has room to grow from previous levels so IMHO she can break this resistance level.
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Thank you for chipping in🤗….well some traders also see more failed breaks as a strong area but everyone sees things differently.
Right now she has faced a little rejection but I’m hoping to see a big one before I’m convinced of a good sell,I took some sells from when it hit .89700 tho and got 50pips.
I’m keeping an eye on it cos I want sell for long term if it shows good confirmation.
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Hi I really struggled going through your chart,it’s none of my business but how do u manage so many indicators on one chart?wow.
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I think the little rejection area is as the whole market is taking a in a funk right now . S&P and Nasdaq are down, Dow is up. No big sell off Its like directions are fighting with each.
As far as charts.
I like the daily as too much static for lower time frames for my taste.
RSI 14 is for overbrought areas as in above 70 and should be watched for signs of selling or pull back.
EMA 8 amd MA 20 is for watching trends. I messed with different setups and using EMA’s focused around the 20 day moving average.
TSI could be deleted.
Macd and Macd histogram with ema 2 . I guess I could combine both but I like watching both.
The CCI 25 cross above the zero line is my go to stock finder. A cross above the zero line is a good place to find the start of a new up trend If that is what one plays. The ema 10 is watching the trend .
Slow Stochastics above the 80 line is Bullish and it helps in starting to show weakness in a trend.
But like with charts that they are just tools and they are not perfect.There is no Holy Grail to trading. I do like looking at charts from my MacBook compared to my iPhone as I get a better picture of what’s going on.
And the CCI 25 cross above the zero line can catch anything Forex too.
IMHO!!!
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Thank you for the explanation….I’m familiar with all the indicators but it’s just that it’s much on the chart and can cause confusion but I guess you are used to it.
Cheers.
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I can see what you saying and to each their own. Hey if one can make some $ then I’m happy for them.
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I am going to be as nice as possible. Besides boring, even your gunslinger move is not worth it. Unfortunately for you, I am an AUD and Coffee expert, meaning that I only trade AUD and Coffee every day of the week, every day of the month, every day of the year.
Point being, and this is advice: I trade AUD every day of my life… and GBP/AUD is not on my list for a reason. I never trade this pair.
The spread is too high vs the margin. Even if you hit your target, the trade will not close since your spread is stupid high. If you have confidence that you can run past 2 Fib retracement lines, then I am wrong and you are right.
But I doubt it, my experience supersedes your trade idea.
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You trade with those little dots? I did that 12 years ago, they are useless.
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I don’t ……I just like them there, I use RSI, 100 $ 200 ema and price action(candle and chart patterns).
It’s just like something I like too much to remove:joy:
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Lol everybody has what works for them……and the fact that GA doesn’t work for you doesn’t mean it will automatically not work for others and a supposed expert should be able to diversify once in a while but like I said earlier, everyone to what works with them.
And all you did was talk about your experience without dropping a single advice on the pair since it isn’t on your watch list……don’t go arnd discouraging others simply bcos u have been trading forex longer, it still doesn’t matter to me bcos I see pple with experience that only dissuade pple and not drop trade impacting advice as grumpy pple🤗.
Ps-Spread definitely doesn’t scare me from taking trades, I do currency and metals.
Cheers.
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WATCHLIST:GBPJPY
POSSIBLE TREND CONTINUATION BEFORE REVERSAL.
GBPJPY ran out of breather after it’s recent high of 158.791 but it is still looking bullish. I expect this pair to continue its move higher to challenge the previous daily high arnd 158.200 area (only if it breaks through the previous high of 157.791) before we can see a significant drop.For solid confirmation of pullbacks or reversals,I always wait for a firm rejection in the form of engulfing candles or pin bars at interesting areas.
Ps- I analyze with higher tf (1d and 4hr) and take entry with 1hr tf.
You got me. Normally I say something insulting and stupid then I get spanked by the Admins. In this case I have nothing. You actually get it!
So do I!!! You got me spanked.
Good stuff! You keep those dots!
Lets have a trade war!
10th to 14th Jan… We make it % wise, not money wise. So it is an even battle.
You ready to put your mouth where your skills are?
i’m up for a trade battle mine is a sell usd jpy on the 10th 
As tempting as that sounds, I’m not tryna deviate from the purpose of this thread.
Feel free to drop it here,I feel ghost readers would benefit…me as well.
I’m also expecting a sell on UJ since it didn’t break above 116.200 successfully.
Ps- I trade reversals mostly.
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AUD/CAD = Buy
Most pips win, screenshot. Coffee is too high, otherwise it was over before it even started!