about the S&R, especially on H1. remember many pages ago when i said that i have lines cluttered in my chart >_< then i got confused. so i only used the S&R from daily or H4
actually in my trading plan, the exit strategy is still empty. i donât know what to put there. i vaguely use imaginary S&R. just like in this trade for example. and i always put one or two pips below/above and use odd price (in this trade i used TP 1.5853 instead of 1.5855)
Resistance breaks and becomes support. Prices bounce of support and 50 pips in 30 minutes.
FX280, nice entry. Please pay attention by drawing a line where the price bounced downwards so you can see how support was broken and became resistance at that area.
I been trading for couple of months with daily E/U candle as my bias (only that for bias), mostly for S&R points in this tf, later i go to 15M chart and try to use S&R on this tf for travel in the direction of the bias, for the moment is not working very good, i think my mistake is use this small tf as my entry, i gonna start using H1 tf as my entry and find S & R for make better decisions and your bias with AU EU and GU
dear nikitafx, another historical time in my trading journey. got 3 margin calls and blew 2 accounts in 4 days. i already made my trading plan, i even am reading books and watch video about candle chartings. yess⌠my technical knowledge is adding up. however⌠when i was losing⌠i lost my temper and lost it all. my psychology is bad. the trading excitement hooked me up and dull my brain. i didnât even read my plan again. i traded better when i was learning. the situation was worsen with the fact that i got the capital from bonus. i even intended to just blew the account and doubled and tripled the lot. so bad⌠anyway⌠life goes on. back to demo trading. no depo no bonus no nothing. just honing my skill without temptation of money. technical question now. i limit myself to only two pairs now GU and EU. i got this signal today. EU GU both actually gave my classic rocket signal. yesterday was a buy so today is a buy however both are entering the daily resistance area i went long on EU but didnât look on GU (mistake i know). my question is if i did look on GU and compare between the two, which one should i take? GU obviously showed more price rejection than EU but then it also make the risk bigger than EU. however i also think that hammer is stronger than inverted hammer. check out the current bull, GU is higher than EU thanx whatâs with the post⌠canât format it
I took the same trade. EU buy. only managed 20 plus pips on one account and 10 pips on the other. By the time it hit 30 pips the other pairs were near their TP levels.
So it happens. I took EU because of the 10 pip SL also. Gave me max 35 pips I think. Took what was on the table and got out.
Entry has to be as low as possible. I am wondering on why oh why didnt I take the GU entry also. It happens.
Hey villain, about your GU Trade, I went long on it too, just adding my 2 cents in to show how to increase odds by adding points of confluence.
If you drew an up trend line marking the lowâs, then the pin bar would have hit it the 3rd time, and if you had drawn a down trend line when trend was bearish before, you would have noticed price pulling back and testing the trend line as support (old resistance becomes new support) just like Nikiâs kiwi trade.
Ever wondered why price suddenly turns at certain points.
How it keeps going down and just as we think its a turn it decides to do a U turn and go back up etc etc etc??
Ever wondered if forex is a controlled thing out to get your money??
Ever thought that forex is a crazy way to make money and the movements are always random??
Well I keep telling people its not. We just have to start seeing what it does where it does it.
Finally, enter as low or as high as you can. That is a very important thing to do. Practice on that. Moving SLs to BE works very well when our entry is right at the beginning or end of it.
Hereâs another example showing how the utilization of lines (whether horizontal or trend lines) coupled with S&R knowledge and higher timeframe/lower timeframe analysis is all we need basically =)
This is a EUR/JPY breakout pullback setup but this time it didnât pullback to a trend line but to a resistance level that pushed price down about 5 times before it finally broke out and eventually made it new support.
GU 
both actually gave my classic rocket signal. yesterday was a buy so today is a buy however both are entering the daily resistance area i went long on EU but didnât look on GU (mistake i know). my question is if i did look on GU and compare between the two, which one should i take? GU obviously showed more price rejection than EU but then it also make the risk bigger than EU. however i also think that hammer is stronger than inverted hammer. check out the current bull, GU is higher than EU thanx whatâs with the post⌠canât format it