Another week without any trade, hopefully next week will get some time to trade.
Yeah I managed to get a small short on the AU earlier this week. Good for 60 pips. Not bad considering I have not traded in a while.
GU Weekly
GU Daily
GU H4
I’m not trading this pair last week because I missed the time to entry.Last week, I loss -33 pips on NJ and profit 35 pips on GJ. Overall only 2 pips in the pocket but better than nothing.
Thanks Bobmaninc don’t be sorry I am still on demo and loosing money all the time…
I wanted to trade the breakout, the support was tested a few times , WK and M was down . My SL was on the low of the previous day. Should have added the spread or take the save SL at the support like you suggest.
[QUOTE=“kamx;645440”]I understand this is a forex forum but can you look at this chart from PA point and tell me if my analysis is correct. What I see is a sell entry with SL at previous HH. NIFTY INDEX FUTURES H1 CHART <img src=“301 Moved Permanently”/> NIFTY INDEX FUTURES DAILY CHART <img src=“301 Moved Permanently”/>[/QUOTE]
Just based on Daily chart I would short!
Very difficult time bob not getting enough time to trade. At least you made some pips.
What everybody things about the EU and NJ pair.
Looking to go long on EU and short on NJ.
I like the EU for a short , but i would wait for the NJ to make a decision because there is to much traffic right now and that would happen after the daily closes.
I am not going to comment on NJ as I didnt look at the chart. EU I would hold off on anything as of right now to close to call. Nikita can smack me for this but I feel as though it is worth a mention. Fibs take a long hard look at them. It mean nothing by itself but you might want to take a peek at what the chart is saying.
Here is a basic daily chart of EU with a basic fib extension on it (based off the last swing)
As you can see price is sitting on the 161.8 Fib level. Hmmm I wonder why. Well lets take a look.
Same chart with another fib and zoomed out a little.
Here I drew a fib backwards (I have not added fibs extensions in the other direction yet but its close enough) and the 125 fib (the actual fib is 128) lands exactly with the 161.8. Now look at all those red circles showing how many times price reacted to this same level in the past and thats just a quick zooming out of the chart. I didnt even take a look in history.
You could be right but if it were me I would wait to see if price breaks or rejects before proceeding with a trade.
Bob you right it is always good to get the confirmation before the entry.
Let’s see what happened 1.3380 hold or not.
I hear that today ends my trading this week. Had a long on AU yesterday that got stopped at BE. Have school and clinical rides with fire rescue and the ER at the hospital the rest of the week. Oh well it was fun though while it lasted.:22:
Lots to do bob, good luck man.
Nice thread!
Price action is the real deal. Especially when you have a very limited time to trade (part-time trader). I found that using H4 time frame to look for high probability price action setup is really helpful for part-time trader. :57:
EA Weekly
EA Daily
EA H4
Get stop on EA for 28 pips.I’m trying to figure our what’s wrong with my analysis…
Thanks Nikita, I hope to post a few more of such chart and appreciate if you could spare time to suggest if I am getting the bias and entry right.
In this case I took a demo trade in the right direction, but where I think I still falter is the trailing SL.
I left a major portion of the winnings on the table when I got stopped out.
Any suggestions on how to go about moving your SL when the trade starts going in your favour?
Thanks,
Kam
P.S. In response to Post # 3745
To me the daily shows a spinning top (4th candle - indecision) and then some more indecision with Doji’s.
Don’t see any Buy out there. Personally I would have waited.
But then again am not an expert and just learning myself, hope some experienced traders here can give their thoughts / analysis. Would really love to understand what the chart says.
Hi izzdin,
I think your bias is not right maybe Nikki can give her opinion. I see LH and M also pointing down No SR level or reversal candle on WK
Hi izzdin I think you open position bit early, now if you look at the daily candle there is a support around 1.4310-1.4315. I think now may be a good price to go long.
Yesterday managed to get 57 pips from NJ pair.
1 HR TF
Great job on NJ keep them pips coming sharebazar.