Hi guys. I entered long on the hour close below 1.5248 but as this was not a strict entry according to my trading criteria I did not inform you. These trades are reflected in my PAMM account and although the technical entry was on the hour closes I took them early as I had to leave the office. PRice shot up immediately after this close and has moved 140 pips already in an hour and 20 mins Investors will be very happy
Next hour close below 1.5333 would be one of significance for those trading their own strategies and looking for a new entry point
It is entirely possible that 15 min closes below 1.5353 may bring about a strong push upwards on GBP/USD today.This is guidance and not a strict signal - use your discernment
AUD/USD has reached a critical daily close level that indicates movement to the upside is massively more likely
I advise taking profits at 1.5793 on GBP/USD
Its very funny that Zulutrade sets an automatic take profit of 500 pips nowadays. I did not realise this and it closed out 8 of my 10 positions that I had long on the pair! LOL
Could that possibly have been another long impulse on the GBP/USD on this last close below 1.5540 Lets monitor the result…
Just for a laugh I entered long on GBP/USD at 1.5495 with sl at 1.5486
Finally! My very own two PAMM accounts with 2 of the best forex brokers in the world! I am a very fortunate trader
and FINALLY (for a second time ) a current live statement of my progress as of close business yesterday
Dear ProsperityFXPro and all the other members,
I’m new to babypips as well as to forex. So please be gentle. I have been reading most of your post and really impressed with your passion for forex and knowledge of trading. I also like to jump into this sea at some point of time and wish to follow your footsteps while I am learning. I had a little bit of experience and but lost the money due to impatient. However now I am much matured guy and have the enough coolness I guess. So thought to start trading again in very small scale focusing 1 or 2 currency pair.
Next few days I will be opening small forex account and may be start doing few trades on Demo account. I am not sometimes familiar with all the forex terms you guys are used here. So I might ask some stupid questions time to time. Please apologise for me about that.
Cheers!
Good Luck Bud watch when you get a chance What Makes a Successful Trader? By Nick Radge, The Chartist - YouTube
Thanks a lot gp00053
Tiny update on my take on AUD/USD: Last Fri I saw that there would prossibly be a long trade on a clean close below 0.9427. Market opened significatnly below this level and so to test the waters I entered with a very small position size long on AUD/USD. I will use this opportunity to determine a unique aspect of my trading method that relates to market gaps. The alternative would be for AUD/USD to cleanly close below either 0.9399, 0.9393 or both
Dear JuniorSilva,
Stupid questions do not exist. Do not feel you need to apologise.
Best wishes,
Michael Anthony
Thank you so much for positive feedback. OK, Now I will try to beak down what you said in this post which I couldn’t understand.
“long trade on a clean close below 0.9427”. What does it mean?
“I entered with a very small position size long on AUD/USD”. When you said entered, did you buy or sell?
"The alternative would be for AUD/USD to cleanly close below either 0.9399, 0.9393 " In here what you want us to do?
S
Dear JuniorSilva,
In answer to your questions:
- Clean close relates to a close and simultaneous lower low (for long trades) and higher high (for sell trades)
- Long relates to ‘BUY’ trades and Short relates to ‘SELL’ trades. Have you read the BABYPIPS SCHOOL OF PIPSOLOGY JuniorSilva? If not please make that a priority!
- I do not want anything
Similar to 1. I am suggesting what market may look for before moving to the upside.
I hope this answers your questions.
Best wishes,
Michael Anthony
Hi Michael,
Thank you so much for taking your time to response to my questions. yes , I will first read BABYPIPS SCHOOL OF PIPSOLOGY .
Cheers!