Thanks tonyro44, but unfortunately I don’t have any more opened position on EU pair.
Wanted to hold the position but I don’t have enough time to monitor the trade so I just closed the trade.
Hopefully I will get more time this week to trade.
Hi Gssg,
If you see the chart I have uploaded previously. There was two line red and black, I was waiting for the price to come between those two lines so I can open position once I get the signal on smaller TF.
When I saw the price is moving very fast so I had an intuition that price will not move more than 50 pips of the black horizontal line, and also price is in my entry area.
When I opened my position it start moving towards my predicted directions and it drop 40-50 pips very quickly, I have some experience that when price move very quickly it also retrace back quickly as well, so I moved my SL and put TS, and eventually hit TS and closed with 42 pips.
Everything was ok to go short on EU according to my analysis, so when I saw the 1 hr candle closed with wick in both sides so I opened another position put my SL above the the wick, and same thing happened price moved quickly towards my predicted directions so I moved my SL and put TS and also hit TS and closed with 46 pips.
Hope you understand my way of thinking.
Hi TC,
I had 50 pips of SL but I was lucky that price moved towards my predicted directions and I quickly moved my SL, If the price moved against me I will have 50 pips loss.
Hey Friends,
Being away from trading for awhile. Involved with many projects at work so not much time.
Here is my analysis for this week. Really appreciate your comments. Want to make sure I am not doing anything wrong.
USD CAD - Bias up
Price broke Daily SR @ 1.2000
Waiting for the pullback to go long near SR
NZD USD - Bias down
Price broke through monthly SR @ 0.7675
Waiting for a pullback to go short near SR
EUG GBP - Bias down
Price broke daily SR @ 0.7617
Waiting for pullback to go short near SR
Hi sharebazar,
You mentioned the red horizontal line is good place to go short, Is that line based on H1 SR level? I am not sure which ones are which. Appreciate your comments.
Hi Donsls, so I see the bias for the USD CAD pair. I also see the SR level. So what you are saying is that you are waiting for that pair to drop back to the 1.2000 level and wait for a reversal. But on the daily TF I dont see a reversal candle indicating it will go down. What are you seeing that makes you think it will go back down to the 1.2 SR level? Still learning so want to see what you notice on your chart. let me know please. thanks!
Hello gkuang2,
Donsis is looking for a drop to 1.2000 on USDCAD. Although when he posted the message there was no reversal candle.
But yesterday’s candle looks like a BEEB. What do you think of that friend?
Is the Bearish Engulfing candle valid?
DD
Dubadat,
that indeed does look like a bearish engulfing candle. Can someone with more experience please confirm? SO now we have to wait for it to drop back to the 1.200 area and wait for a pullback and go long. Is this correct? Thanks for the input btw. This is great, i am learning a lot by just analyzing the charts and getting commentary from the users on this thread. Thanks!
Hi donsls,
Nice to see you that you are back, It was 1HR SR level.
Hi everyone what do you think about AU pair.
Weekly
Daily
4 HR
1HR
Red horizontal line is draw on 1HR TF. Looks like price can move down from there.
Hi Sharebazar,
Did u enter the trade? If you did, I think at least 50pips now. I saw this trade too but I thought daily bias yesterday was still bullish, so waiting for it to close today to see if it will close as a bear candle to play safe. Am I being too conservative ?
Hi Gssg,
It is always good to be sure before entry, if you miss one trade another one will come soon. I did not open any position this week so far.
May be I will open position today or tomorrow. Trying to find the good setup to open position.
Looking another pair AUD/CAD.
Weekly
Daily
4 HR
1HR
SnR level draw on weekly TF, see how the price respect those lines in most of the time frame. Price now in entry area, I will monitor this pair until tomorrow.
Hi Sharebazar,
I am currently looking at EJ today. Been monitoring for a few days, I think if price do retrace back to 133.694 region,and if there is a signal on H1, I will do a short. What do you think?
My reason being weekly bias is sell, and yesterday daily chart form a bearish engulfing bar.
I think it would be a good trade, your analysis is very good.
1HR
See the chart two black bottom horizontal line is our entry area. As you said if the price retrace back in that area we can open position, but I don’t know what is your SL.
Always think about the loss before entry.
Hi Sharebazar,
As for stop loss, most ideal I would most likely place it somewhere in the region 134.419. But it will be too large.So it will depends on the entry candle if any. Let’s say if there is a pin bar, den maybe 5pips above the pin bar, so to keep the SL within my limit(50pips).
Hi
I was very happy with this trade yesterday on GBPJPY
Gssg I will also look at EY today I like how Sharebazar marked the area by the 2 black lines
Gssg,
My pending order is just triggered on EY Moved it to BE already We will see how it will go…
TC
Hi TC Holland,
what is your stoploss & take profit like?
My SL is 50 pips at 134.254, TP at 110pips at 132.660.
Hi, for yesterday the first pick EUR/CAD went in the wrong direction and we lost some pips. After that the USD/JPY made a hit to the target and we collected some winnings in the form of 63 pips.
The tihrid position eur/usd didn’t make a solid move and it was almost in range all the day so it is closed now.
The other picks can be found at our site forexnolimit.com in the section “Expert picks (forecasts)” in the top middle of the page.
INFO: forexnolimit.com