Been trading for almost 7 years, see my intro post for brief history. Love talking on discord.
[Removed for forums violation]
That’s the beauty of the forex market and babypips! New traders get to meet professional traders and put up any kind of queries to get expert guidance. You can’t reach where you want to if you are not working in the right direction. Determine what you want and you will be there.
2 Likes
Weekly trade idea on USD/CAD
Week: 19-23.04.2021
Key event: CAD. Interest Rate
Interest rate at which major financial institutions borrow and lend overnight funds between themselves;
We expect a similar reading than the previous month.
Until release day, we expect a continuation of the actual trend. A negative surprising data value could reverse actual trend direction.
Key Levels:
- Resistance 1.2630, 1.2750, 1.2900
- Support 1.2400, 1.2255
Trend USD/CAD
Bearish
Price has been respecting a down channel, reacting to horizontal and diagonal resistance. This scenario may change with fundamental announcements.
Call to Action/Trade Idea
We will look for buying opportunities near support. A breakout of the bearish channel will provide us opportunities to buy on retracements.
Saul, Lets say you take 10 losses in a row. What is the mathematical explanition illustrating how that drawdown is paid for? That is what I teach my team and what we are constantly creating different ways to achieve. There are countless creative ways to pay for a string of losses. And ultimately its all that matters.
What is your system to pay for a string of losses?
1 Like
Hi symfractal!
I hope I understood your question right.
Since I risk a fixed amount per trade on my larger timeframes (the ones I hold over days), I just need to make sure to take trades with a positive risk reward potential in order to get back to breakeven.
My real challenge is not mathematical, but mental, in order to keep taking the trades I should.
1 Like
Weekly trade idea on EUR/USD.
Week: 26-30.04.2021
Key event: USD. Interest Rate
Interest rate at which major financial institutions borrow and lend overnight funds between themselves;
We expect a similar reading to the previous month.
Until release day, we expect a continuation of the actual trend. A positive or negative surprising data value could affect the actual trend direction.
Key Levels:
- Resistance 1.2150, 1.2300
- Support 1.1990, 1.1850, 1.1700
Trend EUR/USD
Bullish
Price has recovered aggressively to the upside. A test of the next resistance is very likely. If that level doesn’t hold we should see a rally all the way to 1.2250 / 1.2300.
Call to Action/Trade Idea
We will look for any opportunity to join the bullish trend. Any retracement or pullback to support levels. Only an unexpected important release might overturn the actual trend.
Hey! It is so great to hear that. Please keep on sharing all your experience and latest trends that you find in the market so that we could get benefitted from that.
Thanks for sharing your analysis. How do you determine your TP levels? And do you ever just let a trade run once it’s hit BE, or do you always have a certain pip amount or level or % gain you’re looking for?
Hi!
I´ll do!
regards
HI!
My first TP is usually the next key level available, but on a strong trend I let some run for longer
Regards!
1 Like
Weekly trade idea on EUR/USD.
Week: 10-14.05.2021
Key event: USD. Retail Sales
The retail Sales measures the total receipts of retail stores. Monthly percent changes reflect the rate of changes in such sales. Changes in Retail Sales are widely followed as an indicator of consumer spending. Generally speaking, a high reading is seen as positive for the USD, while a low reading is seen as negative.
We expect a lower reading than the previous month.
Until release day, we expect a continuation of the actual US weakening trend against most major pairs. We do not expect a surprising positive data release that could reverse the actual trend direction.
Key Levels EUR/USD:
- Resistance 1.2170, 1.2350
- Support 1.1990, 1.1850, 1.1700
Trend EUR/USD
Bullish
Price has recovered aggressively to the upside. A test of the next resistance is very likely. If that level doesn’t hold we should see a rally all the way to 1.2250/1.2300.
Call to Action/Trade Idea
We will look for any opportunity to join the bullish trend. Any retracement or pullback. Only an unexpected important release might overturn the actual trend.
It’s a great gesture to help new traders get better in their trading careers. The market is quite unpredictable and you may have to take many steps that you may not be prepared for. In such a situation, guidance from experienced traders can prove to be really helpful.
1 Like
Weekly trade idea on EUR/USD.
Week: 24-28.05.2021
Key event: USD. Gross Domestic Product Annualized
The Gross Domestic Product Annualized shows the monetary value of all the goods, services and structures produced within a country in a given period of time. GDP Annualized indicates the pace at which a country’s economy is growing or decreasing. Generally speaking, a high reading or a better than expected number is seen as positive for the USD, while a low reading is negative.
We expect a similar reading to the previous month.
This release should not affect the USD behavior during the week. Technical key levels will be more relevant. We expect a continuation of the actual US weakening trend against most major pairs. We do not expect a surprising positive data release that could reverse the actual trend direction.
Key Levels EUR/USD:
-
Resistance 1.2250, 1.2350
-
Support 1.2170, 1.2050, 1.2000
Trend EUR/USD
Bullish
Price has recovered aggressively to the upside, forming HH and HL. A test of the next resistance is very likely. If that level doesn’t hold we should see a rally all the way to 1.2300.
Call to Action/Trade Idea
We will look for any opportunity to join the bullish trend on supports. Any retracement or pullback. Only an unexpected important release might overturn the actual trend.
Eh not quite
it’s very cool when someone with a lot of experience helps others to achieve something