I am going to keep my hands to myself and not trade until I see something else.
I am eyeing UCHF as I see there might be a chance to short it.
But again, its too early to tell.
The mango on the tree is still just a mango on the tree. It is not ripe for me to say that it will be on my plate. I ist foolish to say how big of a fruit it will be on my plate, or worst, dreaming of how tasty or filling it will be.
At this point in time as of now, its still just a mango on the tree.
That is why posting predictions is very difficult. The logic for going on long or short is not there yet.
very nice proverb,after reading this whenever I am thinking about pips I am thinking about the Mango,which countries mango I will get, which one is more ripe. Mango become Forex fruityâŚ:18:
Tony, this is as far as predictions or signals go for today or this week even.
UCHF M chart
I cant upload the monthly chart as it keeps saying error.
So just look at the monthly chart. Its towards the end of the month and I am banking on the candle to close much lower with a wick at the top. ( this is why I ask traders to watch how a candle opens, forms and ends. It behaves the same way on most TFs. The closing lower is usually because of TP activities that goes on at the end of the month, end of the week, end of the trading day, end of a 4H time period etc etc. )
IF things stand as they are now, I will only look for sell signals.
So this is my trade plan for this week.
But I will keep an eye on correlation and other developments. A retracement might be due, but than banking on retracements or going contra trade is always risky so keep this in mind before we pile the risk.
Again these are preliminary trade ideas that I see on a Monday morning.
I have taken a small buy with a SL of about 20 pips with ultra low risk because its Asian market and I hate trading the asian session. Couple that with it being a Monday and the end of the month, proceed with caution.
Yeah I donât check news either. Its just that everybody in the family has a day off tomorrow here in US.
I wonât trade on such days.
Glad to see my resistance area is right where you have it for USDchf
I have learned a lot from you Nikita. Thanks for your continued support to the followers of this thread.
The amount that I have learned from sharing here is tremendous. Its an experience I wouldnt have got otherwise.
The nuances and the ideas that highlight the tweaks that I needed to do to my own way of trading would not have come to me otherwise.
I still have a little bit to go, but I think the last leg is me myself rather than anything else. Issues like holding a trade, not trading against bias etc etc. I still make mistakes. Silly mistakes on hindsight.
The most important thing I need to do this year is further cut down the frequency of taking trades.
Hi Nikita I was looking for GJ as well, price and the support was very tempting, but I realised that if I wait until monday close I will have the clear view what is going on as you said earlier,proceed with caution.
I was triggered into a Short overnight on USD/CHF, have been looking to go short from that level around 0.9600 for a while. It served me well in January, and if something works once, thereâs a decent chance that it will work again!
After the Euro was well supported into the weekend we have seen that the USD weakness and the fact that the Europe Banks are on Holiday today so that the liquidity will be thin.
True, but it is not all the banks - I think itâs France, Germany, Switzerland and the US, off the top of my head? - our UK banks are still there and they do a decent amount of business on their own.
In any case, I donât trade intraday with a few Bank Holidays knocking around - the US one would probably put me off today - but for my end of day trading I ignore them. Backtesting shows that they donât make any difference to my results, so avoiding them would just cost me trading days for no reason. I always hold my end of day trades overnight, anyway, and while Bank Holidays can cost some liquidity, they rarely lead to the market reversing enough to turn a winning trade into a losing trade - Iâd lose far more if I were to stay away altogether. So for end of day trading I just trade the chart, Bank Holidays, news, all of that doesnât bother me.
And USD/CHF had a rocky patch a little while back with all the SNB nonsense, but last year and the year before that it trended beautifully at times and gave up a lot of reliable pips, and my trade in January played out nicely, so I like trading it.
But trading would be boring if we were all the same lol.
Hi every one I hope everything is good,today was very good for me compare to other previous trade. Got out with 91 pips on GU pair, it feels good when you trade according to plan and it happened according to the plan.
There is this indicator called candle sticks. they are great. You are using support and resistance in conjunction with candle formations. Read the thread it is explained in great detail
