Some Coincidences

Hi all,

even if i’m not new to babypips community, this is my first topic, so excuseme if i’m doing something wrong…

first, let me explain how i’m trading…

approximetaley like all traders, at the begining,i started to forex with my emotions like, “if it is too high, i beleive that it should get down so sell it!!!” of course, i loose and explode so many demo acoounts…

than, i heard that, there are some indicators that tells you price movements like a wizard who is looking to magic ball… of course, it didn’t take to much time to understand that this is not working…

than i heard about price action that price movement between support/resistance lines or acrross…

and now, this is my last bus stop, is tick to this approach and even if i’m not winning so many trades, i’m not exploding accounts… actually i’m in the profitable side after 3 months…

i’m drawing support/resistance lines according to fractals(30 days), if there is three fractal points at the same line, this is my support or resistance line…

but for the last week, something interesting has happened… i take positions like every time, if price get to an support or resistance line and stall there, than i thougt that it will return so i take positions on reversals… but almost for all my trades for last week, positions touch to stop loose and stall at the SL level… this is very interesting for me… so i thougt to open my first topic to ask babypips community if you have any idea about what’s going on on market… i’m pasting examples of my trades on 1H and 1D time frame and i guess, you will understand how i trade and what i’m talking about when i say coincidence…

USDJPY 1H ( as you see, it touched to my stop loose and than stall)

USDJPY 1D (i thougt that it braked out the resistance line and going to retest it becouse of some undecided candles and peak that i marked it with blue arrow)

almost same for GBPUSD 1H touch to SL and stall

Almost same for GBPUSD 1D

Almost same for USDCHF 1H touch to SL and stall

USDCHF 1D (Just like USDJPY 1D, i thought that it will go back to retest the resistance line as support)

GBPCGF 1H almost same as befores, brake out the line ,touch to SL than stall…

NZDUSD same as befores…

these are my graphs and i hope, i totally explained what i’m talking about… thanks in advance for your very very valuable ideas and approaches…

have a good evening everyone…

Hi Tilden,
very coicident trades, before drop my opinion ,can you share the time exactly you are opening your trades? and what UTC time are you using in Ctrader?

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Hi kevala, thank you for you reply… these are the full screenshots for 1H time frame… i’m using UTC+3

GBPUSD

USDJPY

USDCHF

GBPCHF

NZDUSD

@tilden_katz, The main reason your stop was hit on the USDJPY trade was your Stop Loss was in the same zone as possibly 80% of other Traders Stop Losses (the other 20% would have entered short positions at this point.), hence price action was manipulated up into the zone to garnish as much liquidity as possible before moving off in the opposite direction.

Current low market volume coming into and over the Easter period (Traders on Holiday) make it a lot easier for the Liquidity Providers (Banks) to move price around, hence it’s not a good time to trade for a Newbie.

Watch these YouTube videos from No-Nonsense Trading about Banks, Manipulation explained in depth, Spotting Manipulation before it happens and how to profit from short term manipulation to get a better understanding of what is happening to your positions… Hope this is of some serious help to your trading. Cheers.

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despite manipulation and holidays, the point is how you are picking your trades ,
I would recomend you in1H tf you are very suceptible to wild reversals ups and downs so wacth not only s/r , keep and eye in economic important news , like your trade in NZDUSD , in daily tf is ranging with very strong bearish candles in march , as far as I see many of your entries are before newyork period so better you watch what are doing the crowd in that period ,
GBPUSD remember this is a ZERO game , did you notice what happens march29, april5? two reversals , then you open a buy position apr16 almost in the complete curve of zero…

finally I see you not using indicators , that is ok but , indicators is like a tool box; we should use them when we need the rigth tolls to fix something , (not to keep them all the time in the screen) so once in a while try to use just to confirm what are the crowd doing …
I hope this help you
see you !!:upside_down_face:

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There’s little strong trending price action on the daily time-frame right now in any major forex pair. This might be due to Brexit and its range of possible impacts on the second and fourth largest currencies traded.

Be that as it may, look how many times in the last few months the weekly bars have been breached by the 50EMA. Most prices have not been able to break away from the 50 for more than 2 weeks at a time. The majority of weekly bars were broken by the 50 either last week or the week before and its been like this for many weeks.

On the intra-day time-frame, this perspective has flattened out price action. The banks’ trading teams must be asking themselves what’s the point of buying in the morning when somebody else is going to sell the price down in the afternoon.

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Try trading daily resistance only for now buddy and lower your lot size so that you may take a better SL Position

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good info. thank you master.