Introducing my self as a newbie

Hello! from the Philippines :philippines:, Using a 2months Demo account, using a trading Plan, and continue reading and searching a lot about forex trading, forex is not easy you buy low and sell high but you need to study hard and practice practice practice, especially our emotional. I see this babypips forum from searching

This is not a FX supermarket. Pro traders buy high and sell low. Follow the trend.

When the trend is bullish what is your entry?
And when the trend is bearish? What is your entry?

In principle, I would follow the long trend on the daily chart. Open a 200SMA and buy above, and sell below, Open up a trade on the 4hr chart if in accordance with the Daily chart.

There are other considerations.

  1. Whether the price action is reaching a resistance zone, when it could be better to wait and see if the trend is going to continue or stall.
  2. Review the 15m chart to see if that is also in accord with the long term trend. If not, then it’s another possible wait and see before making an entry.
  3. I always trade at and after the London session opening time.

Currently, owing to global economies facing Covid and a war in Ukraine, IMO, it is best to continue trend trading because institutional traders are wary of uncertainty, and choose the safest path to profit. As I have done for the last four months.

Hope that helps.

Take a look at NZD/USD bearish trend, which is a good example of continuation should London session be in agreement.

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