This is on the daily time frame. Nobody can predict where price will go or how far it will go in any direction.
This means that if one is shorting or going long on this position, one has to expect losses. I always keep losses at the forefront of all my posts.
I cannot predict what will happen next. People often ask me for targets. I don't do targets.
This...
Well, this is one to watch. This is a 30 min trend following setup. There are no targets.
NOTE: only about 20% of all traders are true trend-followers. Trend following is very difficult and far more risky than other forms of trading. There are serious losses involved if anyone follows this developing trend. You have been warned.
Everybody likes it simple. Well, this is a tough one.
As I promote radical transparency in trading, I'm also showing the reality - how difficult it is in making trading decision, and controlling loss. It is a waiting game, and about avoiding FOMO. Those who do not know what FOMO is, should stop trading instantly.
There are losses involved in this position -...
This is would be a late entry short if one decides to go in now.
If one cannot take the loss, stay out! You've been told. In other words if you lose your money, sue yourself.
I do not avoid the issue of losses. I'm going to bring it up more and more - as it is the main thing to be controlled in all trading. Any arguments about that?
Did I say 'controlled loss'. Yes I did! This is also known as a stop loss - for those who wish to short, and can afford it.
If one cannot take the loss, stay out! You've been told. In other words if you lose your money, sue yourself.
I do not avoid the issue of losses. I'm going to bring it up more and more - as it is the main thing to be controlled in all...
With all the added pressure on the currency market due to corona virus, Bitcoin is set to sail.
I predict that most economies are going to tank a lot further yet also.
It is not wise to buy yet, wait for all the "dumb money" to buy, get wiped out by market makers, then buy.
See how easy it is to see stop losses, do you not think that big institutions can't see...
No point letting this trade turn into a looser now. Two lower highs created, so some structure to help create a logical place to move the stop too. Stop will be now at 1.46825. Worry free trade now, let the market go where it wants on this pair now.
Updates to follow.
The video shows a contracting wedge into a zone of congestion. This is sometimes a reversal pattern.
I make no predictions. I explain carefully about losses and risk management of this situation.
Disclaimer: This is not financial advice or an encouragement to trade in securities. No liabilities accepted. Your losses are your own. This means you sue yourself...
In this screencast I show some of my positions which are mirrored on my live account. I say that blowing up Tradingview paper accounts is a good thing. The present account has not been blown up for about a year, which is much better than before. I used to blow up an paper account every 3 to 6 months before. It's a very safe space to gain experience, to fail...
A doji was formed around a strong resistance line on the 4hr time frame. I am comfortable that a drop will occur and will I hold unto this position until it reaches the 50% Fibonacci line. In which I will conclude if this position has potential to move further down.
My stop loss is above the resistance line.
My view on this pair is a short in the long term but for now I am expecting two ways, If the trend line is respected, I will set a buy till it hits my target of 0.79960 levels. I will then wait for a short if doesn't breakthrough the 0.77100 levels.
It has respected the trend line for more then 4 weeks which would indicate a strong support. I have left my sell order just below the 1.00153 level which will activate my order and will hold unto it till it hits around the 31st of January's low.
A hammer candle has formed on the Orange trend line (Resistance) which is big indication for it to go down but keep note that Teresa May will be talking about brexit on a Tuesday which will cause this pair to be volatile in either position but for Monday, I can clearly see it go all the way to the purple trend line (Support) if the resistance line does not get...
The trend line ( Purple ) has been tested twice and and the resistance ( Green ) that was formed on the the 14th of December was tested and caused a drop on the downside and nearing the trend line. If it breaks through that expect it to hit the 1137.33 levels and if it doesn't breakthrough that and respects the trend line. I will hold the position till it hits...
The chances of it breaking through on the downside or the upside is pretty high. If it breaks through the trend lines ( Purple & Orange ) expect it a rally in either side. Keep a good look on it to avoid any fake breakouts so keep your SL tight.
Neutral Position - It has hit a monthly trend line which was tested 3 times . Keep an eye to see if that line gets respected or if its breaks through it. Great opportunity.
