Hey everyone, My Name is Xavier and this will kind of serve as a blog for my trading journey moving forward. A little bit about me. I’ve been into the concept of financial freedom since I was about 17. I actually started off in stocks first with a 200 dollar account about a year ago lol. I used to go to college but I dropped out after realizing that College just wasn’t for me. Ive studied stocks and Forex for about a year before entering the market. I went live on Feb and so far have been profitable.
My style of trading is trend and counter trend trading triangle patterns.
So yeah, first official entry will be on Monday.
So I have spent the last week just reading “Japanese candlestick Charting Techniques” by Steve Nison. Everyone be on the lookout for a Market Analysis Sunday night.
USD/CAD 1 HR Chart. I went short because the last few hours the candle sticks have been small and indecisive. The price action was also near the upper bollinger bands signaling that there may be some correcting of the market. the RSI is around 70 and showing a negative divergence from the price action which is overall bullish. So countertrend move. Goal is 37 pips.
AUD/USD 1HR. I went long on the trade. My reasoning is that the price action was steadily going down with almost no direction signaling strong bears. I see some consolidation and bears are unable to break support which also happens to be a previous level of support. The price was also below the lower bollinger band and the RSI was signaling oversold. So I buy with TP at previous structure at resistance. If all goes well then about 63 pips. if not then I already calculated my risk.
I hope that this is just the beginning of your journey and in time you will be able to boast of even more interesting achievements. I wish you great success!
