So far on the challenge we have turned £100 into £152 in the 1st week, that is a 52% account gain, this was made up of 19 WINS and 4 losses, The losses were protected to avoid damage.
We have seen where and why these losses occurred and can now avoid them, this week is setting up to be another profitable week on the way to our £20,000 goal.
If you are interested...
Possible sell for GBPUSD. Price has remained under both the 200 and 50 EMA indicating a short bias. Price has recently broken out of a monthly trend line, descending triangle, and it seems to have retested the trend line within 1 day, this can indicate that there will be a strong move towards the down side. I have placed a big trade with a stop loss of around 35...
GBPUSD flag pattern continuation found on 1hr TF which is slightly clear now on the 4hr TF. looking for one last push down to respect this continuation pattern but also in extension to reach this lower trendline found on the daily/ 4hr TF.
Entry criteria: Do not enter if the price breaks the selling area. Wait for a reversal to enter.
Exit criteria: When the price hits target 1 put SL to breakeven. If price breaks target 1 area with momentum then TP at target 2.
Trade at your own risk.
Possible short position incoming for GBPUSD. Price is currently moving within a very accurate parallel trend line channel and has recently hit the resistance zone of this channel, indicating that the price will be moving lower. The price has also been acting below both the 200 and 50 EMA further indicating a short bias. This is tied in with the fact that the price...
Personally i think you are strange if you think pineapple shouldn't be on pizza ( then again i am not the most normal person you will ever meet )
We can see marked on our chart a strong area of resistance and price is currently in this zone now after a bullish run on Friday ( price must have been raiding my steroid cupboard ) no from this zone we are looking for...
We are looking at a bounce and reversal at our support zone.
Keep it simple and clear and wait for the trade to come to you... don't buy down to that area, if the trade doesn't reach our zone then we haven't lost any money... This is peoples problem and the reason they fail in the markets because they are to eager to be in a trade and try and make QUICK MONEY, if...
Get a chart up, find some key levels and look at how well price respects them and how many pips you could have munched on buying and selling off these levels... No indicators were used here, just nice clean charts.
SIMPLE is better in forex and if anyone tries to tell you differently then run a mile ;p
Think of it this way, we all know the world is corrupt so...
I like the look of this setup and I've already called my bank manager and told him I'm about to make a large deposit ;p
I have also rang my wife and told her I am trading her in for a younger model.. she was happy about it and said I'm selfish anyway... I don't know what she means ;p
We can see this has previously been used as a good area of resistance and with...
GBPUSD was travelling inside a descending channel. Price recently broke out to the upside, came back down to retest the channel before making its way up. On its way up price created an ascending channel. We believe price will go all the way up to the 0.618 of the last downwards wave , however we have placed our Take Profit at the 0.382
Fundamentals picking up for GBP with a falling price. This shows the intrinsic value of GBP is yet to be priced in, waiting on technical confirmations before entry.
- Candle formations
- Higher Highs
Any confirmation towards the upside.