AUDTF
Next swing up position from the grey line perhaps?
Hi Nikita, what are your comments on the current chart on eur/usd H1 TF as of 4.23pm GMT +8. bias on weekly and daily was sell. there was a bearish candle added confirmation to the pin bar(indicated by yellow arrow). but after the bearish candle, price shot up. news related or sth? or have i missed something? or have i read the market bias wrongly? 
oh this morning i manage to take 20 pips out of this. market bias was sell. but could i have taken 10 more pips out of this trade? should i have set my tp at the previous support ka?
and btw nikita, for reading market bias, if a pin bar forms not at the HH, LH, LL or LH on a chart, what would be the market bias then? still very newbie in determining market bias. :rolleyes:
[QUOTE=âAretes;548601â]<img src=â301 Moved Permanentlyâ/> Hi Nikita, what are your comments on the current chart on eur/usd H1 TF as of 4.23pm GMT +8. bias on weekly and daily was sell. there was a bearish candle added confirmation to the pin bar(indicated by yellow arrow). but after the bearish candle, price shot up. news related or sth? or have i missed something? or have i read the market bias wrongly? <img src=â301 Moved Permanentlyâ/> oh this morning i manage to take 20 pips out of this. market bias was sell. but could i have taken 10 more pips out of this trade? should i have set my tp at the previous support ka? and btw nikita, for reading market bias, if a pin bar forms not at the HH, LH, LL or LH on a chart, what would be the market bias then? still very newbie in determining market bias. :rolleyes:[/QUOTE] Price moves in waves, and it will do a BPC, breakout, pullback, continuation. Below is my SR on H4 and H1. The sell u made today was made at a a place where the retracement for a pullback is not complete yet.
I would have waited to short from the bottom grey line.
[QUOTE=âAretes;548601â]<img src=â301 Moved Permanentlyâ/> Hi Nikita, what are your comments on the current chart on eur/usd H1 TF as of 4.23pm GMT +8. bias on weekly and daily was sell. there was a bearish candle added confirmation to the pin bar(indicated by yellow arrow). but after the bearish candle, price shot up. news related or sth? or have i missed something? or have i read the market bias wrongly? <img src=â301 Moved Permanentlyâ/> oh this morning i manage to take 20 pips out of this. market bias was sell. but could i have taken 10 more pips out of this trade? should i have set my tp at the previous support ka? and btw nikita, for reading market bias, if a pin bar forms not at the HH, LH, LL or LH on a chart, what would be the market bias then? still very newbie in determining market bias. :rolleyes:[/QUOTE] Here is the best example of price doing a BPC and how yesterdays bias is used to enter todays trade. USDCHF. The grey line is on the same level on all TFs. Day, H4 and H1. Price will break out, most often come back to previous resisitance or support that was broken before going in the same direction. SL will be very small, TP will be atleast 1:3 or more. Ur chances of trade hitting SL is very small, compared to other methods.
It takes out the guess work out of smaller TF trading.
Hi Nikitafx,
As I am reading through your âcourseâ, I try to apply to the market by watching a few pairs. Pls correct me when I made any mistake with my understanding: I was looking at nzdusd and the previous day candle was bearish (sell) and rightfully today should also be a sell. But it seems like towards the end of today it is moving upwards forming a bullish bar as of current time (12am Singapore time). If I were to go for a sell, wouldnât I be making a loss? Can you enlighten me pls? Thanks
Hi Nikitafx,
As I study your âcourseâ I try to apply it on the current market. I m looking at a few pairs. For eg. nzdusd, it was a bearish candle (sell) yesterday. So based on the rule, today should be a sell too. However, as of now (12:13am Singapore time) it seems to move upwards forming a bullish candle. If I were to enter a short trade, I would have made a loss? Can you enlighten me please?
[QUOTE=âcoolbriz;548782â]Hi Nikitafx, As I study your âcourseâ I try to apply it on the current market. I m looking at a few pairs. For eg. nzdusd, it was a bearish candle (sell) yesterday. So based on the rule, today should be a sell too. However, as of now (12:13am Singapore time) it seems to move upwards forming a bullish candle. If I were to enter a short trade, I would have made a loss? Can you enlighten me please?[/QUOTE] You guys sure love to pick very exotic pairs!
Those r my SR lines.
If u saw yesterdays candle, itss till a bull candle.
Hi Nikita,
just two questions. what if dojis formed when market is ranging on a daily timeframe? how would define the market bias then? secondly, is why did u remove currency correlation from your analysis? sorry i am now reading and stucked at page 50 of ur thread. so many things!
[QUOTE=âNikitafx;548802â] You guys sure love to pick very exotic pairs! <img src=â301 Moved Permanentlyâ/> <img src=â301 Moved Permanentlyâ/> Those r my SR lines. If u saw yesterdays candle, itss till a bull candle.[/QUOTE]
I know it is probably a silly question but I thought the candle colour denotes whether it is bull or bear or is it not? Hope you donât mind bearing with my ignorance,
[QUOTE=âcoolbriz;548912â] I know it is probably a silly question but I thought the candle colour denotes whether it is bull or bear or is it not? Hope you donât mind bearing with my ignorance,[/QUOTE]
It does, and I guess I didnt pay attention to the daily candle properly. Ims orry.
- Doji candles are traded after a confirmation candle on direction closes above or below the wick.
Secondly. i have said this many times. Open a chart and if it doesnt speak to u in a simple price action way, than go look for another pair. There are plenty.
Trading is about capitalizing on opportunities.
Not about being right all the time.
And if we cant see how its going to play out, close the terminal and go do something else.
[QUOTE=âAretes;548859â]Hi Nikita, just two questions. what if dojis formed when market is ranging on a daily timeframe? how would define the market bias then? secondly, is why did u remove currency correlation from your analysis? sorry i am now reading and stucked at page 50 of ur thread. so many things![/QUOTE]
Doni means both sellers and buyers are equally strong.
You have to wait for another candle to either close above or below the wick of the doji for direction.
I removed correlation because major movements use to be caused by USD. So pairs moved together. Its no longer the case.
Furthermore as I became better at reading bias I could trade individual pairs without looking for basket movements.
Do you ever consider momentum before taking a trade?
repost reporst
Is it a Illusion that we are living in ?
Is it really possible for a retail trader to generate a consistent income from trading forex ?
Was there anyone who did that before ? NahâŚIâm talking about the retail traderâs who doesnât have any relation with the higher govt officials or such.
We always hear 95% of the traderâs fail. But who are these 5% ? Are they really retail traderâs or the Banks ?
Is it just a illusion we live in that someday we can be a trader ? Is it a really a illusion to think that achieving consistent returns is possible ?
Is it just because this trading doesnât require much Infra or such like a real business does, Which is the reason most come and go by ?
Though many have been taking courses or been studying since yearâs, I rarely came across a person who did really reached that trader position, who can generate real profitâs instead of paper oneâsâŚ
Now your copying and pasting your post everywhere?
Start your own thread before a moderator bans you.
hi nikita,
i understand that you are from malaysia. how do you withdraw your earnings and is it taxable?\
btw nikita, what was your weekly and daily bias for eur/usd last week?
[QUOTE=âAretes;549921â]hi nikita, i understand that you are from malaysia. how do you withdraw your earnings and is it taxable?\ btw nikita, what was your weekly and daily bias for eur/usd last week?[/QUOTE]
I was asked too many questions by staff at Maybank once, a long time ago.
Never had any problems since.
Never paid a single cent in taxes either, as its deemed as bringing in foreign exchange funds into the country, hence non taxable or something.
Sorry about ur bias question, looks like bias is a confirmed sell 
Aussie yen H4.
Best trade this month at 280 pips.
I like where this thing is going.
Now I just wish UC would hurry up and do its thing. I can stop trading for the month!
[QUOTE=âForexForte;549005â]Do you ever consider momentum before taking a trade?[/QUOTE]
I tried fiddling with volume indicators for sometime but they were all crap.
Market opening times were a better indication of peak hour traffic!
[QUOTE=âjnshed;549321â]Is it a Illusion that we are living in ? Is it really possible for a retail trader to generate a consistent income from trading forex ? Was there anyone who did that before ? NahâŚIâm talking about the retail traderâs who doesnât have any relation with the higher govt officials or such. We always hear 95% of the traderâs fail. But who are these 5% ? Are they really retail traderâs or the Banks ? Is it just a illusion we live in that someday we can be a trader ? Is it a really a illusion to think that achieving consistent returns is possible ? Is it just because this trading doesnât require much Infra or such like a real business does, Which is the reason most come and go by ? Though many have been taking courses or been studying since yearâs, I rarely came across a person who did really reached that trader position, who can generate real profitâs instead of paper oneâsâŚ[/QUOTE]
Already talked about this in depth.
Hit the road the moment u start having second thoughts. Its not the markets fault if people believe they can get rich tomorrow.
First trade of the week and made lovely 100 pips on GU pair.
Holding the EU pair moved SL to 20 pips+.