hey dudes… its sunday and time for some trade ideas
so whats on my list for the next week…?!
due to the election the market looks quiet messy …anyway i have some set ups iam looking at .
price touched a downward trendline from daily chart …means we may can see a bounce
i look for a confirmed short after little support at 8,3450 is broken and price can close below
first target at the upward trendline ( after break of it we have a opportunity to add some position )
price is traped between support an resistance zone here …
i wanna see a solid break through the upward trendline and support below to consider a short entry
so thats it for now…maybe we see some new set ups developing through the week…
also nzd cad is still open and has a pretty good chance to move down some more…
trade safe and only after confirmation …dont try to pick tops or bottoms unless your name is nostradamus
crude oil nearly same set up here… but very important to wait for confirmation by a solid close above resistance & trendline otherwise the set up is invalid
hi guys i am new
been reading this thread and alfonso moreno youtube for past 1 week or so
i am trying out this system
i will participate and please feel free to correct me if i am wrong
appreciate your guidance in advance
PS: typo error, green box is weekly demand zone @trueman23, how do you cope without alfonso moreno’s base trader indicator (the one that place a white dot for base candle)?
i am wondering because my broker is not on metatrader platform
i started trading S/D levels at beginning of this year but as you see i do not use S/D levels ONLY anymore… if they confluence with trendlines or patterns like SHS or S/R levels i see it as a very good confirmation … its possible to trade just S/D levels but i prefer further confirmation for a trade entry …
the marked levels in your chart are not the clearest zones in my view…
i mark zones which have strong moves ( big candles then a small sideway move followed by a strong move in the opposite direction
hi true man, thankyou for the feedback
may i ask how do you gauge the strength of the up/down move
i am trying to follow alfonso morenso’s rule as close as possible base from his vid , so i drew mys/d level(obvious or not)
and then go through the elimination process as he do
side story:
i am as very new, just finished reading the full school babypip 2 weeks ago.
i am doing my uni part time , i start trading forex becos one of 1 lecturer is a banker and forex trader in real life and so some of this student interested and so we started to learn forex from him, however the thing about him is he is old-school banker, he rely fundamental and refer to technical analysis as “chartist” LOL.
so here i am trying to find a good system to use on the pairs in which he share his “greenlight” and also ontop of his fundamental guidance. in light of the fed hike in dec , he say its okay to short ad and nzd
i chosed S/D because it seem easy to understand and pickup. i am open learning from you guys where other indicators worked well.
Usd/cad taken when I got back from work, also had a GBP/USD trade trigger and hi TP while I was there. Entry on this was a little late. Still demo and trading pending order supply demand.
EDIT: sorry realized I haven’t marked the zone I took, but did the one below. not aiming for a big move this time, about 1.5 R:R. to play it safe
Amazing set ups and thanks for what you are doing. But if I can say one thing, the images are a bit blurry and I can’t see the threshold prices or the general values.