Hi fxs, I’m fairly new to trading, I’m just curious what the green and blue boxes mean? Thanks
Hi DaleG74,
Colours represent risks (I could draw everything in one colour, but thought it would be much better to know risks of each trade).
Line colours:
Dark blue - low risk
Violet - medium risk
Red - high risk
Green - very high risk
Grey line - support/ressistance
Orange line - possible support/ressistance in the near future
These lines form a zone of own risks:
Green zone - high risk
Bright blue zone - medium risk
Dark blue zone - low risk
Zones are used to determine SL (SL is just above the zone)
Grey lines are used for TP (Each grey line - partial fix, last grey line - close order.
Sometimes I’ll post recommendation to hold open position till orange line, Ex. GBPUSD from december 08)
Usage of recommendations is simple:
If zone/level is above market price - when price reaches it sell (or make pending order at that price)
If zone/level is below market price - when price reaches it buy (or make pending order at that price)
[B]IMPORTANT[/B]
Each zone/level should be entered only once, who feels lucky or like to risk could enter multiple times
Also, I think you have already noticed that grey/orange lines have a nice retracement, for those who want earn additionally from those levels, put SL 10-15 pips + spread, fix half of position when TP=SL and for rest put trailing stop.
If grey/orange line is below market price, I think it’s obvious, go long
Although I will not count it as a recommendation, just a possibility to earn extra.
One more thing, each recommendation is valid only ONE day, unless I say otherwise.
Hope I’ve managed to explain it very simple
Although there 2 zones, there is a possibility, that higher than green zone price won’t go
Fot the past 2 days, without online corrections, recommendations are either missed or BE.
There could be surprises today, so be carefull
Results from friday:
USDCAD didn’t reach zone few pips and 'left without us’
EURUSD try to hold till 1.2969 (second grey line)
End result for 16 december recommendation EURUSD:
Entry on friday, partial fix on monday 98 pips-spread (first grey line), close at BE today.
Recommendation will be with zones, for now It’s just to keep you informed.
Yesterday was tough so I didn’t publish recommendation after publishing plan. Sorry.