@ FMM
Thanks very much !! I made VERY good pips today because of your posts :)… Thanks very much please keep up the GREAT work and help :)…
Those things happen sometimes when you hold open orders at news releases but I’ll show how to minimize or prevent losses in such situations when occur in charts coming out later on today…
There’s a doubt about the Chf/Jpy order that seem to have hit market price which was your order price but you must remember that spread exist and for this pair it’s mainly more than for the majors, so as I discussed in previous posts that my price levels are market price, you look at the opposite side of your order, meaning if you are bidding you look at the ask and vice versa.
While for the Euro/Jpy order it was surely a broker mistake or error or determined error or not, because market price had reached more than 10 pips which is enough since this pair spread is not that much but mainly 2-3.
Check your broker that might say it was a news release or something but take note some brokers even at news release do not widen spread too much but maybe 2-3 additional pips while other make it up to 20pips before getting back to normal later on but those brokers are who you can’t trade news releases with.
Besides, Most Important for Traders here to post there entries/exits price levels, for example a trader looking at your chart will not know what was your order(sell or buy, entry, exit, short or medium term strategy??)
Good Explanation. Saved me time.
Briefly, no trades of Medium Term Strategy at end day hours which mean low volatility and since market price for all pairs would have already went one or both ways(swing,breakout).
Not taking the trade was the best choice. Better wait for new day and analysis for this pair to built on.
This is very important, because you might enter a trade for any pair at end hours then realize that it’s against the analysis of new day, for example you might enter a buy order while the new day analysis say downtrend start near to your buy entry which mean bad trade.
At first, it’s not worth carrying a trade to next day with such low volatility at end hours unless trading carry trade pairs and hoping for little dollars as rollover trade.
That might happen because as said before, my price levels are market price which mean your entry price might be out the price level for broker spread reason especially in cases like: retracement was 1.3050/60 if market price had hit 1.3060 or you had seen it will bounce for there and you enter then your buy entry will be 1.3061 or 62(mainly spread for this pair is 1-2 and might be in decimals(as 0.5) for low spread brokers.
While if you are somehow sure while market price is moving inside the retracement(bt.50-60) and you buy then your order can be filled inside the retracement.
But Surely, one or two or few pips will not effect your profitability of Medium Term Entry while it can be somehow decisive when trading the short term only when market price do not move more than 10 pips for any buy or sell signal but with ood understanding of price action you can nearly always exit at good profit or at worst little loss…
Better results could had been performed(talk later about). Remember not to keep orders open to next day. New Day New Analysis New Story…
No tips to avoid losses other SL until you master news trading and prepare by setting res. and sup. lines then enter according to my news release numbers or wait for retrace of the first spike of news then enter with the spike…
“stefsto”: there’s nothing in forex named predict, everything must be analyzed well before trading, first no carrying of trade to next trade and you do not wait hoping or guessing that price will go back to your entry but what the analysis say.
Also, Important note, in case you had bought in an uptrend pair as in your eurousd case while it’s in downtrend there are np guarantee that market price will go to retracement level so you close your buy order, so better wait for retracement to be hit then enter mainly a sell order as swong trading then have a buy order open and hope price will retrace.
Great for thanking me:) but better if you post your results(entry. exit, short or medium strategy).
Nothing, just bounced many times of first short term buy signal 1.6140/45 after a nice swing trade from retracement to TP1 1.6140/45, much time and test of this support level till last hours, so exit at TP1 was perfect.
*I’ll be showing in charts posts about price action.
That’s Great. Post your results…
What do you exactly mean?, mention details or examples…
Price action had been discussed in my past charts posts, so try to review them, more than enough to understand and apply successfully and I’ll add some others today…
As you see in the above picture of Euro/Usd 5 Minute candle that after a big bearish candle that haddirectly hit our first short term buy signal then the second 5 min candle went up a little before going down breaking the level then as confirmation the third candle was a clear exit(1.3185) and an opportunity to get out the market, so taking a -30 on this trade was surely waiting too much especially after a big bearish candle and another one followed…
While the exit for the second buy signal(1.3160/65) was at 1.3178(as you seen the horizintal line) which was a 10 pip profit and at worst case if you had 2 open orders(first and second) for whatever reason, you must had exited at second exit(1.3178) for both. Then market price continued to hit our third buy signal 1.3115/20 and bounce to more than 30 pips upward…
At worst case, you must had exited your order at the 3rd horizontal line 1.3160(the big bearish candle break) as market price had tested it many times especially in the show circled 2 candles green and red.
So, following simple price action, candles & my stratgey rules, you could turned a powerful market down movement to more than 50 pips gain on all 3 short term buy signal trades of this pair for a bounce trading strategy(CounterTrend).
** Traders who followed me at least from some weeks behind must have remember that I said, sometimes it needs some intelligent to not enter at first signal after a clear bullish or bearish candle especially at news releases and at time volatility is high(Very Important to study those trading hours) because the movement will surely continue as the market momentum had set itself to more action and breaking sup. or rest. to continue the tred and sentiment resulted by this certain news.
So, traders who well read & absorbed(not enter from ear and exit from the other…lol) then applied my tips and hints are who’ll enter from such market situations with Good profits or the lowest loss.
You see in the above Usd/Chf 5 min. chart nearly same candles formation as for the Euro/Usd 5 min. chart posted before because those pairs correlate negatively(opposite direction but nearly same candles formation), so no need for repeat same details since what was explained for Euro/Usd chart is same for this chart(opposite direction but same concept)
The 1st best exit for the first short term sell signal 0.9110/15 was around 0.9115, 2nd exit for 2nd sell sell signal 0.9125/30 or for both(if you still hold an open order for first sell signal) is at 0.9117 or at worst case must had exit at the number 3 shown horizantal line, while for the 3rd sell signal that was the high price market at that day 0.9155/60, a simple sell at exact 3rd sell signal for an easy 30 pips gain.
You see on the GbpUsd 5 Min. Chart the Short Term Buy Signal Traded. The first signal must not had been traded because if you remember this strategy rule that say you do not enter an order at a buy or sell signal if market price comes near the signal price but do not hit, instead goes up the 10-30 pips then try it again.
So, as you realize that this pair price came at first few pips near the first buy signal then up to more than 30 pips, to then again try another test at same price and go again up 15 pips, to then retest this time exactly our first buy signal and go up but this time for around 7 pips, but ofcourse you must had not entered at 3rd test even if hit exactly our signal but when? but after not 1 but 2 tests near the signal price so no entry here.
But in case you had done this big mistake by violating my strategy rule for whatever reason as thinking yourself for a second a Forex Guru…lol then you must had exited at 1 Exit circle drawn on the chart so you fix the big mistake & continue dreaming of being a Forex Guru one day…lol
The Second buy signal was easy to enter and for more than 30 pips profit. And, all by all, it was a profitable short term trade.
4th May 2012 Euro/Usd 5 Minute Chart:
I like to only post charts for pairs that had some conflict movement in a certain day for all traders to know how to act in such trading environment but it’s always Great to also set spotlight at an easy trade very profitable with no risk whatsoever by entering a swing trade for the EuroUsd pair using the Medium Term Very Accurate Strategy Entry and Exit.
As you see on the 5 min chart for this pair, the easy entry was if not at the 3rd bearish candle that was as a confirmation(test ret. line after break below) for the swing move then at the 4th bearish candle that opened under the retracement price level line down to first TP1 1.3085/90 where had too much support till friday end minutes closing there.
So, it was a clear exit too unless you are the Super Greedy person on this planet…lol
What A Beautiful Trade!!
*Take Note Traders that Usd/Chf had same perfect swing trade(opposite direction, upward), just look at your chart for this chart to see the beauty of not just the trade but how lovely it’s when both pairs correlate nicely as they have to do and when market move in a good trend manner, how much more profitable our strategy is seen more clearly.
Hello Traders,
Forex Signals & Analysis for 7th May 2012;
Short Term Signals:
Usd/Chf Buy at 0.9115/20 then 0.9090/95 then 0.9065/70, sell at 0.9250/55 then 0.9270/75 then 0.9330/35
Usd/Jpy Buy at 79.50/55 then 79.35/40 then 79.00/05, sell at 80.35/40 then 80.60/65 then 80.80/85
Euro/Usd Buy at 1.2970/75 then 1.2950/55 then 1.2905/10, sell at 1.3165/70 then 1.3210/15 then 1.3240/45
Gbp/Usd Buy at 1.6110/15 then 1.6100/05 then 1.6060/65, sell at 1.6195/00 then 1.6220/25 then 1.6245/50
Medium Term Daily Analysis:
Usd/Chf This pair is on uptrend, high support at 0.9215/20, break is to retracement at 0.9160/70, as swing buy with Tp1 0.9215/20 Tp2 0.9250/55 Tp3 0.9270/75 Tp4 0.9330/35 while as breakout sell with Tp1 0.9115/20 Tp2 0.9090/95 Tp3 0.9065/70
Usd/Jpy This pair is on downtrend, retracement at 80.00/05, as swing sell wiht Tp1 low at 79.50/55 Tp2 79.35/40 Tp3 79.00/05 while as breakout buy with Tp1 80.35/40 Tp2 80.60/65 Tp3 80.80/85
Euro/Usd This pair is on downtrend, low resistance at 1.3030/35, break is to retracement at 1.3095/00, as swing sell with Tp1 1.3030/35 Tp2 1.2970/75 Tp3 1.2950/55 Tp4 1.2900/05 while as breakout buy with Tp1 1.3165/70 Tp2 1.3210/15 Tp3 1.3240/45
Gbp/Usd This pair is on downtrend, retracement at 1.6160/70, as swing sell with Tp1 1.6110/15 Tp2 1.6100/05 Tp3 1.6060/65 while as breakout buy with Tp1 1.6195/00 Tp2 1.6220/25 Tp3 1.6245/50
Usd/Cad This pair is on uptrend, retracement at 0.9910/20, as swing buy with Tp1 1.0005/10 Tp2 1.0025/30 Tp3 1.0095/00 while as breakout sell with Tp1 0.9865/70 Tp2 0.9820/25 Tp3 0.9785/90
Euro/Cad This pair is on downtrend, retracement at 1.2985/90, as swing sell wiht Tp1 low at 1.2930/35 Tp2 1.2880/85 Tp3 1.2825/30 while as breakout buy with Tp1 1.3110/15 Tp2 1.3150/55 Tp3 1.3220/25
Gbp/Cad This pair is on uptrend, retracement at 1.6035/40, as swing buy with Tp1 High at 1.6090/95 Tp2 1.6145/50 Tp3 1.6180/85 Tp3 1.6270/75 while as breakout sell with Tp1 1.5955/60 Tp2 1.5890/95 Tp3 1.5845/50
Aud/Usd This pair is on downtrend, low resistance at 1.0180/90, break is to retracement at 1.0245/50, as swing sell with Tp1 1.0180/90 Tp2 1.0120/25 Tp3 1.0095/00 Tp4 1.0025/30 while as breakout buy with Tp1 1.0270/75 Tp2 1.0315/20 Tp3 1.0355/60
Aud/Jpy This pair is on downtrend, low resistance at 81.40/45, break is to retracement at 81.80/85, as swing sell with Tp1 81.40/45 Tp2 80.65/70 Tp3 80.35/40 Tp4 79.55/60 while as breakout buy with Tp1 82.30/35 Tp2 82.85/90 Tp3 83.30/35
Nzd/Usd This pair is on downtrend, low resistance at 0.7965/70, break is to retracement at 0.8000/05, as swing sell with Tp1 0.7965/70 Tp2 0.7905/10 Tp2 0.7885/90 Tp3 0.7835/40 while as breakout buy with Tp1 0.8020/25 Tp2 0.8050/55 Tp3 0.8085/90
Euro/Jpy This pair is on downtrend, low resistance at 104.20/25, break to retracement at 104.80/90, as swing sell with Tp1 104.20/25 Tp2 103.85/90 Tp3 103.60/65 Tp4 102.85/90 while as breakout buy with Tp1 105.45/50 Tp2 105.95/00 Tp3 106.35/40
Gbp/Jpy This pair is on downtrend, retracement at 129.35/45, as swing sell with Tp1 128.35/40 Tp2 128.10/15 Tp3 127.35/40 while as breakout buy with Tp1 129.90/95 Tp2 130.35/40 Tp3 130.75/80
Chf/Jpy This pair is on downtrend, low resistance at 86.70/75, break is to retracement at 87.25/30, as swing sell with Tp1 86.70/75 Tp2 86.45/50 Tp3 86.20/25 Tp4 85.60/65 while as breakout buy with Tp1 87.75/80 Tp2 88.15/20 Tp3 88.50/55
Gold is on downtrend, retracement at 1643/44, as swing sell with Tp1 low at 1629/30 Tp2 1625/26 Tp3 1617/18 Tp4 1609/10 while as breakout buy with Tp1 1653/54 Tp2 1659/60 Tp3 1670/71
Oil is on downtrend, low resistance at 99.00/05, break is to retracement at 100.00/05, as swing sell with Tp1 99.00/05 Tp2 97.30/35 Tp3 95.65/70 Tp4 94.30/35 while as breakout buy with Tp1 102.75/80 Tp2 103.85/90 Tp3 104.80/85
We have Important News releases today for the Aussie, Swiss Franc, & Canadian Dollar Currency:
-
AUD Building Approvals & Retail Sales: Buy Aud/Usd if 3.5% or more while sell if 2.9% or less for the first while for the second buy if 0.5% or more while sell if 0.1% or lower
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CHF Foreign Currency Reserves & CPI: Buy Usd/chf, Euro/Chf, Gbp/Chf if 225B or lower while sell if 240B or more for the first, while for the second buy if -0.1% while sell if 0.5% or better
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CAD Building Permits: Buy Usd/Cad if -0.8% or worse while sell if 0.8% or better
**Take note Traders that today market movement can be very volatile and risky due to France Presidential Election & Greek Parliamentary Election, where France New President had been announced Francois Hollande.
Euro may collapse fast but better to wait sell higher as at retracement while buy lower and keep caution in trading without getting frightened…lol
Have A Great Trading Day
The first Euro/Usd chart: The exit for the second buy signal was at the horizontal line(2) at 1.3178 after the entry was earlier at 1.3165 at the many lined up candles. while the worst but less loss exit for one or both buy signals was as the big bearish candle went down and broke the 2 candles price that are shown in the circle bt. the 1.3160 and 65 lines.
The second chart of Gbp/Usd: At first, the first buy signal must not had been executed as I explained before but in case that had happen, the exit must had been at the (1) Exit sign or its equivalent earlier where you see on same horizontal line 6 resistance candles bt. 1.6180 and 83 and that was better than breakeven in your understanding!!
Actually, there were many exits from the 1.6175 to 85 price but why I chose the (1) exit??
Again, this is not a valid buy entry as said before but in case you found yourself in such situation.
At that 1 Exit simply because sometimes and at certain trading hours the market is better given more space to move…
That circle bearish candle you had draw is surely not “huge” as the first chart(give me a break) the first was around 45pips fall, this is just 5-8 pip candle!!
While about the other exit at 10 or 30 or more. 10pips exit was not wrong that was at the first buy signal but why 30 is because the second buy signal level was a safe support at that time as my experience tell me and background of the big frames confirms that.
Candles formation do not always repeat itself, you can see couple of candles formations at a chart that seem the same at other chart but it can also show the opposite direction movement, other factors must be examined well before deciding entering/exiting here or there.
Briefly, when you become a Forex Expert some day, you might understand what I exactly meant.
It becomes as a habit how beautiful it’s looking at price action knowing that price will hold here or reverse or continue after doing this or that…
Certainly, nothing is 100% or perfect but a High % of sureness by experience limits loss or turn it to breakeven when market behave abnormally.
Forex Trading especially when looking at the 5 min. chart(low time frame) is not easy but perfecting it is Great, which needs too much discipline, patience, good background, preparation, price action, quick thinking and acting…All can be combined in one word that mean Experience.
Experience resulted by trading the market for years years and years…
I’ll give a simple advice for all traders despite i know that the characteristics needed are not found in most traders such as Discipline & Patience to perform such work, which is each day save some few hours just looking at your screen, monitoring how market price is moving on a 5 minute chart(any pair). Just look how market price is moving and how candles are forming…
Live And Learn Dan
Awesome!!! I am newbie in forex… Just start my forex life around few days…And i am doubt with recently market( especially audusd )… any suggestion for me?@@
according to your post…Usd/Chf Buy at 0.9115/20 … wat means by /20 ???
ok 
thanks a lot!!!