Hello folks
I'm here to get better at what I do (trading) and share my knowledge & experience while learning from more experienced traders.
Thread is all about PRICE ACTION & TRADE IDEAS . We as traders should be able to identify/spot valid
Clear market structure (Trend (H/L Swings/BOS), Chart patterns, Candlestick patterns, S&R).
that will result in high probability setups and high success rate with low-medium risk. As for me I try to become proficient in identifying various Chart (successful/failed) & Candlestick patterns and trade them as well.
Technical Analysis on all major, minor, exotic currency pairs & currency indexes.
As such thread can start off on a good note but with time tend to lose focus on why it was created. So set rules have to be put in place and traders should conform to these rules.
RULES
* No trolling, hate speech, mocking, sarcastic or offensive comments. No monkeying around. Stay professional.
* If you dislike a post, share your reason(s) why you did and if you've got some better trade ideas share instead.
* Ask questions if you need clarity on forex related issues nice people will be willing to assist.
* Please no posts such as e.g. "GBPUSD price will hit 1.2300, EURUSD will hit TP 1.04, or i'm long or short on USDCAD" without clear bias/chart analysis (although we might have something different) as thread should be interactive and we get to understand your reason on related pair and learn from each other.
* No bombarding charts with indicators. Kindly keep your charts simple, clear & concise (K.I.S) Line charts are cool AF!
* No Monthly projections charts/speculations. So I guess this thread is intended for scalpers/day traders. No charting timeframe and market projections above D1. as thread will focus more on Day/Intra day/Scalps opportunities & help the trader "narrow" his/her focus at the MOMENT. Multi-timeframe analysis is a boost but no higher TF beyond W1 atleast to have much broader picture of overall trend although I tend to use the Daily & 8-Hourly for my analysis & to gauge current trend.
* You can show results if you so wish but "ONLY" after analysis as it gives room for more learning and improvement.
*You do not need to write an essay on a post but try to let your charts do more of the talking.
You may support your bias with the following indicators/tools or in combination as they could also confirm confluence points;
**PIVOT
**Fibonacci
**Moving average(s)
**VWAP/AVWAP
*Bands
--------------
+RSI/MACD
+ATR
+ACC/DIST.
No trading system is even 70% effective in the long term but Price Action would stand the test over time and over different market conditions/environments. There are over 200 chart patterns (https://pin.it/4JppWuA + google) and some chart patterns occur more often than others. Some indicate reversals while some trend continuation and in some cases both. Some have more successful overall outcomes than others and with time you will know them. One good thing about chart patterns is that they tend to have Price Objectives either it's successful or failed.
There are the successful chart patterns and failed chart patterns scenarios. Chart patterns aren't full proof and never 100% reason for failed chart patterns. So whatever the market throws at us traders we can take advantage of any such scenario and make the best out of it while applying good and sound RISK/MONEY MANAGEMENT. This in-turn gives a trader that edge likewise addressing one huge obstacle we traders face in the trading world, "COGNITIVE DISSONANCE".
The essence of this thread is to allow for each individual to focus on what he or she does or knows best as regards to Price Action trading and share (trade ideas) with thread members.
Remember it is not about how long you have been trading but how well! Also note that you are not competing with anyone but yourself & you and ensure you are improving day after day because I AM. Let's steal pips from the market while we can as trading forex is all about probabilities & improved decision-making.
I welcome traders "alike" and even better feel free to join and share your vast wealth of experience and knowledge. Will appreciate.
BRING ON THE CHARTS & LET'S KEEP LEARNING!!
ALWAYS REMEMBER "KEEP IT SIMPLE"!!!
________________________________________________________________________________________________________________
I'm here to get better at what I do (trading) and share my knowledge & experience while learning from more experienced traders.
Thread is all about PRICE ACTION & TRADE IDEAS . We as traders should be able to identify/spot valid
Clear market structure (Trend (H/L Swings/BOS), Chart patterns, Candlestick patterns, S&R).
that will result in high probability setups and high success rate with low-medium risk. As for me I try to become proficient in identifying various Chart (successful/failed) & Candlestick patterns and trade them as well.
Technical Analysis on all major, minor, exotic currency pairs & currency indexes.
As such thread can start off on a good note but with time tend to lose focus on why it was created. So set rules have to be put in place and traders should conform to these rules.
RULES
* No trolling, hate speech, mocking, sarcastic or offensive comments. No monkeying around. Stay professional.
* If you dislike a post, share your reason(s) why you did and if you've got some better trade ideas share instead.
* Ask questions if you need clarity on forex related issues nice people will be willing to assist.
* Please no posts such as e.g. "GBPUSD price will hit 1.2300, EURUSD will hit TP 1.04, or i'm long or short on USDCAD" without clear bias/chart analysis (although we might have something different) as thread should be interactive and we get to understand your reason on related pair and learn from each other.
* No bombarding charts with indicators. Kindly keep your charts simple, clear & concise (K.I.S) Line charts are cool AF!
* No Monthly projections charts/speculations. So I guess this thread is intended for scalpers/day traders. No charting timeframe and market projections above D1. as thread will focus more on Day/Intra day/Scalps opportunities & help the trader "narrow" his/her focus at the MOMENT. Multi-timeframe analysis is a boost but no higher TF beyond W1 atleast to have much broader picture of overall trend although I tend to use the Daily & 8-Hourly for my analysis & to gauge current trend.
* You can show results if you so wish but "ONLY" after analysis as it gives room for more learning and improvement.
*You do not need to write an essay on a post but try to let your charts do more of the talking.
You may support your bias with the following indicators/tools or in combination as they could also confirm confluence points;
**PIVOT
**Fibonacci
**Moving average(s)
**VWAP/AVWAP
*Bands
--------------
+RSI/MACD
+ATR
+ACC/DIST.
No trading system is even 70% effective in the long term but Price Action would stand the test over time and over different market conditions/environments. There are over 200 chart patterns (https://pin.it/4JppWuA + google) and some chart patterns occur more often than others. Some indicate reversals while some trend continuation and in some cases both. Some have more successful overall outcomes than others and with time you will know them. One good thing about chart patterns is that they tend to have Price Objectives either it's successful or failed.
There are the successful chart patterns and failed chart patterns scenarios. Chart patterns aren't full proof and never 100% reason for failed chart patterns. So whatever the market throws at us traders we can take advantage of any such scenario and make the best out of it while applying good and sound RISK/MONEY MANAGEMENT. This in-turn gives a trader that edge likewise addressing one huge obstacle we traders face in the trading world, "COGNITIVE DISSONANCE".
The essence of this thread is to allow for each individual to focus on what he or she does or knows best as regards to Price Action trading and share (trade ideas) with thread members.
Remember it is not about how long you have been trading but how well! Also note that you are not competing with anyone but yourself & you and ensure you are improving day after day because I AM. Let's steal pips from the market while we can as trading forex is all about probabilities & improved decision-making.
I welcome traders "alike" and even better feel free to join and share your vast wealth of experience and knowledge. Will appreciate.
BRING ON THE CHARTS & LET'S KEEP LEARNING!!
ALWAYS REMEMBER "KEEP IT SIMPLE"!!!
________________________________________________________________________________________________________________
Grit; Knowledge; Positive Mindset, All you need to overcome. KIS!