About meJust a regular trader, working full time currently. Join me on my quest to become a full time trader and leave the rat race. All content posted will be free for now and forever... help each other!! the way it should be!
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...
Read my annotations and don't gt tricked by the sneaky banks who are best friends with the media.
It's all a big mafia.
Trading was opened up to the public for one reason only... so they can steal your money!!
Trade like the institutions, if you basically do the opposite of what everyone on MyFxbook does you will probably become profitable haha..
They need you...
I don't use indicators, they're not my style, they lag, they repaint; and in my opinion they don't work.
The 200 EMA on DAILY can be useful because of how slow it is. We can use it to filter the direction of which way we trade.
Price ABOVE 200 ema = ONLY BUY
Price BELOW 200 ema = ONLY SELL
Then drop timeframes for your entries via your strategy whatever that...
Daily Support created the illusion for people to go long, the stop losses just below.
Remember if you buy, your stop loss is a sell. You SELL your BUY position at a worse price!
China and Australia's economies are very tied together, due to the corona outbreak the AUD is tanking.
This added with the fuel from all the stop losses below the daily resistance zone...
Gold is setting record new highs with no sign of slowing.
This is due to gold being a "safe heaven", e.g when there is uncertainty in the market, large investors move to safer options such as resources with limited availability. This is because due to there only being a certain amount of gold on earth at any given time it always retains value. Gold being the...
I'm expecting price to return to the long term descending channel as there is a lot of liquidity there for the taking.
I expect this to happen via the channel breaking (wiping out stop losses) then price to continue downward. I have a trade idea already generated before price even reaches that destination, so when it does I am fully prepared for any...
Been away from trading due to holidays (Thank you Isreal you were amazing!!)
So here we are in a long term descending channel from a higher timeframe. Price will most certainly reach the top and re-test it.
And during this long term channel, we have a shorter ascending channel with a perfect place to enter.
If it was only that easy ever retail trader...
AUD/USD is at a monthly demand zone, there are numerous traps enticing retail traders to short. E.g. bouncing off the weekly trend line, and a so called area of resistance on the daily.
COT data also shows banks are becoming slightly bullish and reducing short positions.
Don't short basically.
This tool will eliminate 50% of your bad trades INSTANTLY!
Can you guess which one it is?
Notice I have "SHORT ONLY" at the bottom right of the screen. Anchored text will appear on any time frame, so if you flick from Monthly to 15 minute it will always appear on screen in the same location....
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.
4 Previous touches on that trend line, and now some bullish candles appearing. I bet a lot of people are wanting to join in right about now. And if you are tempted would your stop loss not be where I have put the trade prediction?
Well if I can see that, big banks and institutional traders who get paid a lot more than me can see it.
Apples for the taking (I...
Did you just hand back over some money to the market after what you thought was a great entry? But why, that "support" looks fantastic? You might have thought;
Multiple touches in the past, strong zone.
Price created some nice bullish Price Action, it must be bouncing off the support.
We had a huge strong move up not too long ago.
This is accumulation within that...
As you have probably heard do not trade against the trend. I'm going to assume you know what this means but if you don't read the bottom paragraph first.
Trading with the trend is obviously much more beneficial to us, and its clear why we shouldn't go against it. But have you tried being a trend trader? Aka a person who tries to identify trends and rides these ...
There is a common problem people have, they see a set-up because it "sort-of" fits their strategy and take the trade. This is because people encounter FOMO (Fear of missing out).
The markets will continue to play out long after any of us are still alive. There are endless opportunities, so why take any old trade? Always choose the best QUALITY trades over LOTS of...
So you have the "perfect" setup; all the stars align and you feel utterly confident in taking the trade, but should you? I have a process that must be completed before I even think about pressing the trigger.
Fundamental analysis points me in one of two directions, then from there I'm either short or long. I then look if there is a technical entry point that...
Notice the 5 touches of previous resistance marked by the blue arrows. This "strong level" entices people to sell and place their stops just above the level. See how price begins to fall from this level marked at the red arrow? This also draws more sellers into the market; people don't want to miss out; then BOOM! Price breaks the level and wipes out everyone who...
As we can see here, there is an enticing level of so called resistance on the daily and the 4 hourly chart. Price has moved away from this area and novice traders have gone short. It is very easy to predict where stop losses will be. Notice the decreasing volume as price shorts away from the "resistance". If the collective amount of people doing the same thing...