View Full Version : Damions Tribute
The objective of this thread is to maintain a journal of my trade thoughts and for those who are interested in my trading to discuss and learn.
My interest began over a year ago, spent a couple of months dwelving to all aspects of technical analysis, read numerous trading books, attempted a couple of systems onforexintuitiveforums using a demo account and blew one live account. I've been trading'live' for nearly 11 mths now. While I am not making a living from Currency Market trading (I trade miniature lots), I have been consistently profitable. This was only possible because I stumbled across a really good thread ff, also was lucky to learn from a great trader, damion.
The trading technique is simple. There will be no indiors, though I do observe the stoch/macd at times for divergence. The technical tools and techniques I use include trendlines and classic TA patterns. I trade mostly the majors on all timeframes.
Within the upcoming few articles I hope to discuss a few of my open trades. I don't trade very often, alot of my conclusions depend on chance and market conditions. There are instances once I don't trade at all for weeks.
Hi Guys,
great analysis done here.
Anyone shorting the GU? We've got a tweezer here for affirmation Short.
Good luck everybody. The tweezer top didn't perform as the affirmation candle was not formed.It proved to be a safe call to await the CF to verify that our entry.I didn't entered the commerce and stay out.
No trade is a trade.
Trades with interest. There are still a few more that I have been holding onto for a couple of weeks, eg. is GBPCHF. Brief position.
https://forexintuitive.com/attachments/15286995441194324421.jpg
https://forexintuitive.com/attachments/1528699546793418690.jpg
Hi Soyabean,
I Adored the DRA system Also.
Thought I would join you by discussing.
I've only just started with a couple pairs. I would like to share a few probable set ups not yet been traded.
I've demoed these transactions and intend to exchange them on a small account with micro lots. Based on my results I will consider trading on a larger account .
In the meantime, I've a lot to learn.
Thank you Soyabean.
https://forexintuitive.com/attachments/1528699548446828190.jpg
Hi,
Some other transactions I'm also considering are:
1. EUR/USD to go extended - to the confirmation candle if R/R let
2. AUD/USD - will wait to see how price responds - my expectations are:
a. It could break the current trendline - then I might trade it to the retest - SHORT.
B. would split the uptrendline and then would go LONG on the test of this trendline.
c. In case a confirmation candle and R/R are go - if it gives a signal on the current trendline - however, I'm thinking of letting that trade go.
3. EUR/GBP - this could be a wonderful long or a short trade if R/R given after the confirmation candle are great enough.
Please excuse the dates - these are Australian dates.
https://forexintuitive.com/attachments/15286995521925455342.jpg
https://forexintuitive.com/attachments/15286995551483398759.jpg
Hey
Sorry I havent got the chance to get a fantastic look in ur charts, I have been away.
I have reenteered AUDNZD trade.
https://forexintuitive.com/attachments/15286995582052173664.jpg
Soyabean,
Can you please have a look at my chart and tell me whether that is the way you project your stop loss and profit goals.
I have exercised the chart for the 1st trade.
Thanks.
https://forexintuitive.com/attachments/15286995601364084423.jpg
Soyabean,
Would you please have a look at my chart and tell me if this is the way you project your stop loss and profit goals.
I've exercised the chart for your 1st trade.
Thanks. Hey aftab,
Really wonderful comprehension of our trading system, entry of the bearish engulfing using the rear of the uptrendline as resistance. I would have taken the trade with the exact same TP because you did and also a marginally wider SL at the prior high.
There are different methods to select ur TP, however, as long as it's more than 1:1.5 RR and that you have taken another support level under account.
Overall, great understanding.
Hey,
Very nice understanding of our trading system, entrance of this bearish engulfing using the rear of this uptrendline as resistance. I would have taken the trade with the exact same TP because you did and a slightly wider SL in the prior high.
There are other methods to select ur TP, however, so long as it is more than 1:1.5 RR and which you've taken the next support level under account.
Overall, great understanding. Hi Soya,
Will bear in mind:
1. Past high when setting the SL; and
2. The following support level when determining profit target the fib extensions.
Are you looking at anything else this week?
Hi Soya,
Will Bear in mind:
1. Past high when setting the SL; and
2. The following support level when deciding profit goal the fib extensions.
Are you looking at anything else this week? Simply to clarify, I do not always place my SL in the prior High, I enjoy my SL to be guarded in a resistance level. Clearly for the AUDNZD commerce the resistance level was in the prior high.
I've a couple other pairs that I am watching out for, will post my charts when I get home from work this evening. These are mainly that the Aussie, Kiwi and Loonie pairs... I believe we've seen some unprecedented profits in those currencies as global economic outlook brightens and investors are pulling their money out of the US. Commodities need also drive these currencies. I am looking at some crucial fib retracement areas and trendline confluences. Generally, the market is roaring and prepared for a few trading opportunities. Charts to follow.
Regards
I think we seen any strong price action today, will be looking for some reaction close to the major trendlines.
https://forexintuitive.com/attachments/15286995632099943731.jpg
https://forexintuitive.com/attachments/1528699565129810977.jpg
https://forexintuitive.com/attachments/15286995661780112319.jpg
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https://forexintuitive.com/attachments/15286995702041064635.jpg
Hi Soya,
Thank You for the charts.
I am currently looking at a few currency pairs only and the EUR is just one of these.
Chart attached.
Can I right in saying that we would be awaiting price on the EUR to check the back trendline?
Thanks.
https://forexintuitive.com/attachments/1528699572420172726.jpg
Hi Soya,
I had been only looking at your EUR chart.
Was wondering in the event that you'd take the trade in the evening star if the dup trendline was not there.
When reviewing the charts, it did work out to a rsik:reward ration of 1:1.
Thanks.
https://forexintuitive.com/attachments/15286995761129160543.jpg
Hi Soya,
I was just looking in the EUR chart.
Was wondering in the event that you would take the trade at the evening star in the event the dup trendline wasn't there.
When reviewing the charts, it did work out to some rsik:reward ration of 1:1.
Thanks. Absolutely! I was lamenting over the missed trade myself!
And you are also right that I am awaiting a retrace to the rear trendlines for most of the pairs today.
Btw, I actually like the trendlines you've drawn along with the explanation in your charts. Clearly you already have a sound understanding of this trading approach.
Absolutely! I had been lamenting over the missed trade myself!
And you are also right that I am awaiting a retrace to the rear trendlines for most of the pairs today.
BtwI actually enjoy the trendlines you've drawn along with the excuse in your charts. Obviously you already have a sound comprehension of the trading method. Soya,
Thanks for your encouraging words.
I am understanding that this process more through your charts.
Appreciate your charts.
Soya,
This is what I Find probably setting up on the AUD/USD.
Please allow me to know your thoughts.
Thanks.
https://forexintuitive.com/attachments/15286995801508685285.jpg
Soya,
Still seems to be setting up. Is the downward trendline I have attracted valid?
Thanks.
https://forexintuitive.com/attachments/15286995841651019667.jpg
Soya,
This is what I Find Likely setting up on the AUD/USD.
Please let me know your ideas.
Thanks. Hello, in setups like these I would prefer to stay away.
A trendline that has been previously broken and then re-penetrated is doubtful. What we are looking for are trade opportunities that are visible and obvious to many, esp the institutional investors. When there was a 3rd touch in the very best it would mainly shape a triangle pattern suggesting consolidation.
Soya,
Still appears to be putting up. Is the down trendline I have drawn valid?
Thanks. The down trendline is not valid for the ABCD installment. We must be patient and trade only the top setups!
Hi, in setups like these I'd prefer to stay away.
A trendline that has been previously broken and then re-penetrated is doubtful. What we're searching for are commerce opportunities which are visible and evident to many, esp the institutional investors. If there was a 3rd touch at the top it would largely form a triangle pattern suggesting consolidation. Due Soya. Like I said, I am learning a lot from your feedback and I appreciate it.
Only for me to have the ability to acquire an insight into the way you're thinking, when would you even consider getting involved with this pair?
Thanks.
am watching this for a possible retrace to TL fib level and then a cf to go short.
Daily tf was in a range for a while today, so I wont be too certain of monster pips move here.... The daily range could be pips.
https://forexintuitive.com/attachments/15302725241633966186.jpg
https://forexintuitive.com/attachments/15302725261361201099.jpg
I am also watching to buy GJ in the 151.01 area if it retraces then forms a cf to long it.
https://forexintuitive.com/attachments/1530272528667078799.jpg
My EJ is floating at -40 pips today. Gont allow it hit SL.
Opened another new trade this morning, this is a commerce taken off the daily chart.
https://forexintuitive.com/attachments/1530272530228672202.jpg
this was a possible installation, tp @ the 84.2 level
https://forexintuitive.com/attachments/15302725312147429245.jpg
No candle formation on GJ, took a new commerce on EJ though. Short term at resistance following the bearish engulfing price action. Confluence with the 4h down trendline.
I'm weary of this powerful support at 1.32, will TP just ahead of itmight shut for partial profits at 1:1, we will see. Stopped from EJ to get -66 pips.
GC floating at 47 pips.
My EJ is floating at -40 pips now. Gonna let it hit SL.
Opened another new trade this morning, this can be a trade removed from the daily chart. Closed for 101 pips.
Web this week so far is around 140-150 pips? Decent gains. No new transactions.
Still lamenting within the CADJPY trade I posted as possible sooner. While I was at school, missed the trade.
One last trade taken now from the daily chart. Setup to the GC trade sooner, entrance off the bearish engulfing candle confluence with a resistance level. Floating at 90 pips now.
Overall realised earnings for the week is around 150 pips. One open commerce in GJ floating in 90.
Overall realised earnings for the month thus far is around 450 pips. Great beginning looking forward to next week.
https://forexintuitive.com/attachments/153027253656719867.jpg
https://forexintuitive.com/attachments/15302725381412711890.jpg
Aggressive traders could be interested to go long on the rest of the tight triangle consolidation.
https://forexintuitive.com/attachments/1530272539947843090.jpg
One last trade taken today from the daily chart. Set up sooner, entrance off the bearish engulfing candle confluence with a resistance level. Floating at 90 pips today.
Overall realised earnings for the week's approximately 150 pips. One commerce in GJ floating in 90.
Overall realised earnings for the month to date is approximately 450 pips. Fantastic start to the month, awaiting next week. TP hit for GJ commerce: 147 pips
Entire month to date: approx. 600 pips
Aggressive traders could want to go long on the break of this tight triangle consolidation. In the event that you captured this you shld wd have gained about 30 pips.
https://forexintuitive.com/attachments/15302725411585373474.jpg
Resistance @ 91.700 and nice long wick, good price action south.
https://forexintuitive.com/attachments/1530272542390176848.jpg
Entry in the triple tweezers
https://forexintuitive.com/attachments/15302725441937191452.jpg
Entry at the triple tweezers Stopped out for -47 pips.
Looks like UJ will not hold .
Took an additional commerce in NJ yesterday, long this one from the daily. Entrance at bullish hammer.
https://forexintuitive.com/attachments/15302725461428038032.jpg
Resistance @ 91.700 and pleasant long wick, fantastic price action south. UJ closed for 77 pips
Web profits this week: 177 pips...
NJ is floating at 13 pips. If it can't break resistance at 64.50 then I might consider shutting the trade.
Meanwhile, here are a few pairs that I'm watching.
EURAUD (I seldom trade this pair) is a potential trade for a short. Price action is coming off 1.700 degree and 0.618 retracement, awaiting a few solid price action to give me the cause.
EURJPY also is apparently all set for a selldown back to encourage @131.
I like what I am seeing on GBPCAD (Another pair tt I seldom trade), break of service at 1.76 would introduce further trading opportunities.
Excellent move on both GC and GJ, should have additional positions to my earlier short transactions, trying to sell more about retracements atm, when pairs have been trending south like this, I make it a point to keep selling until the trend reverses.
UC looks great for short positions also, will 1.07 hold?
Stopped out for -47 pips.
Looks like UJ won't hold either.
Took an additional trade in NJ yesterdaythis one by the daily. Entry at bullish hammer. I quite like how this pair is moving today. Floating at 52 pips today. If it breaks current minor resistance, will include additional lots and TP - major res @ 65.8 level
https://forexintuitive.com/attachments/1530272548877019501.jpg
I quite like how this pair is shing now. Floating at 52 pips now. If it breaks current minor resistance, will add extra lots and TP - major res @ 65.8 degree Closed 1st lot for 97 pips... yet another to run now at B/e...
270 pips this week so far...
'd have taken a trade if there was a legal change candle formation in the area indied x.
https://forexintuitive.com/attachments/1530272472168957315.jpg
Good work Thanks alot Mike!
Hi Soya et al,https://forexintuitive.com/attachments/1530272453.jpg
Its been some time you guys, since I post whatever here.I m glad that this thread is powerful with good courses and commerce setups.
I have been trading on the different line recently especially on the Gpbusd and UJ as my basic principles.
If you guys were in the UJ commerce since last month, there was a wonderful EW setup which I caught all this while also heck closed one last commerce in the correction phase of the wave before the market closed.
Also, there has been a great PIN formations in gbpusd in the weekly and in the daily chart as commerce prejudice.
Then reinforced with the ABC, Crown, Gartley learnt from this ribbon, a huge PIP harvesting did occur by yours truely.
This month was fantastic and I hope you guys had harvested ve pips.
https://forexintuitive.com/attachments/1530272453.jpg
https://forexintuitive.com/attachments/1530272454.jpg
Only took those 2 trades last week, with that, I've completed the month with pretty strong gains - total of approx. 900 pips.
This has been one of my best months, I've recovered all my losses at the last 2 mths and more. Simply wanna reiterate the value of discipline and commnt to your trading plan, be patient, be discerning and you will eventually be rewarded with profitability.
Let us look forward to a even better week beforehand.
Hi Soya et al,https://forexintuitive.com/attachments/1530272455.jpg
Its been a while you guys, because I post anything here.I m glad this thread is strong with good courses and commerce setups.
I have been trading on the side line recently especially on the Gpbusd and UJ as my basic principles.
In case you guys were at the UJ commerce because last month, there was a fantastic EW setup that I captured all this while and heck closed one last commerce at the correction phase of the tide before the market closed.
Also, there has been a superb PIN formations in gbpusd in the weekly and at the daily chart as commerce bias.
Then reinforced... Good entry, I would have taken the specific same transaction at the same amount but for various reasons.
Hello Guys
Nice Transactions for the week Soya.... Here is my thought on GJ for the week. . Please inputs/corrections/additions are required....
https://forexintuitive.com/attachments/153027247460508701.jpg
https://forexintuitive.com/attachments/15302724761739887883.jpg
https://forexintuitive.com/attachments/15302724771551926119.jpg
Hello Guys
Nice trades for the week Soya.... Here's my view on GJ for the week. . Please inputs/corrections/additions are needed.... Good plan. Though 147 may not be the very best level to wait around for. Expect support at 142.
Only took those 2 transactions last week, with that, I have completed the month with fairly strong gains - complete of approx. 900 pips.
This was one of my greatest months, I have regained all my losses in the past 2 mths and much more. Just wanna reiterate the importance of commnt and subject to your trading program, be patient, be discerning and you'll eventually be rewarded with profitability.
Let's look forward to a even better week ahead. Soyabean, congratulations on your 900-pip profit, and having one of your best months ever; only wanted to say I love your emphasis on subject, commnt, and patience. Https://forexintuitive.com/attachments/1530272458.jpg
Wishing everyone a great week, plus a fulfilling month in advance.
Good egy. Though 147 may not be the best amount to wait for. Expect support at 142.
Thanks Soya. . I'm not awaiting 147 I only note it's a support amount thats. .
Retrace seems to be playing now..so I will continue to keep a close watch on the 4hr tf...
I have this on EU and UCAD... but couldnt post over the weekend
https://forexintuitive.com/attachments/1530272479971776080.jpg
https://forexintuitive.com/attachments/15302724811898421778.jpg
U guyz are currently going nut enmassing pips!
keep it up all
Soyabean, congratulations on your 900-pip profit, and using one of your best months ever; only wanted to say that I really like your emphasis on subject, commnt, and patience. Https://forexintuitive.com/attachments/1530272460.jpg
Wishing everyone a great week, and a fulfilling month beforehand. Thanks Tunji, all the best to your trading also.
Keep the momentum going.
https://forexintuitive.com/attachments/1530272482522344937.jpg
sorry.... my charts
https://forexintuitive.com/attachments/1530272484241670380.jpg
https://forexintuitive.com/attachments/1530272486585079464.jpg
Is price turning?
https://forexintuitive.com/attachments/1530272487744060268.jpg
Is price turning? Here's my expectation on UJ
https://forexintuitive.com/attachments/1530272489871320967.jpg
Hello Guys,
great analysis done here.
Anyone shorting the GU? We've got a tweezer here for affirmation.
Good luck everyone.
https://forexintuitive.com/attachments/1530272491995338973.jpg
Is price spinning? Stopped out: -46 pips
Here's my anticipation UJ Better trades ahead Soya.... Nevertheless playing out nicely as planned for me ....
Nimrod, I am looking to short GU from the 5min. Tf when a crown change plays out...
my chart
https://forexintuitive.com/attachments/1530272415798551378.jpg
Good day all,
This is among the trades am in, I love this UCAD at moment bcoz it shows that the beauty of Trendline trading style using pattern formation.
We'd a a short signaled by a crown formation, along with the crown goal will signal another bullish entry with the subsequent convergence
1. Possible bounce at outer TL
2. ab=cd
3. Bullish gartley(ideal as decribed by scott carney)
https://forexintuitive.com/attachments/1530272416253525391.jpg
https://forexintuitive.com/attachments/15302724181551524163.jpg
Good day ,
Here is among those trades am in, I adore this UCAD at second bcoz it reveals the beauty of Trendline trading fashion with pattern creation.
We'd a short signaled by a crown formation, and the crown target will indie another bullish entry using the subsequent convergence
1. Possible bounce at outer TL
2. ab=cd
3. Bullish gartley(perfect as decribed by scott carney)
Hello Mike, seriously trusting this pair begins its upward journey. . .am long with this by a 4hr crown supported on 1hr. .bt currently in serious red.... Not final though as I am also awaiting the crown trigger to go long ...
but my fear is that price has closed under my 4hr tf trend line and that tilts more to dwn trend..hmmm
https://forexintuitive.com/attachments/15302724201964112730.jpg
Demand gt; supply.
https://forexintuitive.com/attachments/1530272422443521507.jpg
For learning purposes, this was a possible entry at the 2nd bearish engulfing.
https://forexintuitive.com/attachments/15302724231259595952.jpg
Good day all,
This is among those transactions am in, I love this UCAD at second bcoz it shows the attractiveness of Trendline trading design with pattern formation.
We had a a short signaled by a crown formation, and the crown goal will signal another bullish entry with the following convergence
1. Possible bounce at outer TL
2. ab=cd
3. Bullish gartley(ideal as decribed by scott carney) Wow, haha, many many fibs!
Originally Posted by https://forexintuitive.com/cryptocurrencies-and-commodities/129-script.html
[I]Good day all,
This is among those trades am in, I adore this UCAD at second bcoz it shows the beauty of Trendline trading fashion with pattern formation.
We'd a short signaled by a crown formation, along with the crown target will signal another bullish entry using the subsequent convergence
1. Potential rebound at outer TL
2. ab=cd
3. Bullish gartley(perfect as decribed...
The Brief commerce gave 150pips
the long will be 100pips and counting
Wow, haha, many many fibs!
Rofl, that many many fibs give excellent pips guy! how u dey?
Well, I discovered that although we still trading abcd but many have chased out a way that trading abcd is comfortable with him. That is cool! That is self discovery! Another phase to access to unlimited wealth.
Lets keep doing this , still trading full time however quietly on the planet
Mike
rofl, that many many fibs give amazing pips man! how u dey?
Nicely, I found that although we still trading abcd but many have chased out a way that trading abcd is comfortable . That is cool! That is self discovery! Another phase to get to unlimited wealth.
Lets keep doing this , still trading full time however softly in my world
Mike
Mike, thanks to the unrelentless attempt keeping us the ABCD traders motivated in the chase of trading independence. As a testement to what you mentioned, here is a pic of Ucad in the 4hr tf.I traded it for several days, heck almost had a panic attack once the D altered almost bowled Xbut with money management, managed to hang on and reap D and C of the gartley almost butterfly.
SoyaI love the things you put here, please keep up the good job, and I hope to hear more out of the regulars in this particular thread.
In the world of academic, the one who teach learns more and the one who revise gains what he learned.
https://forexintuitive.com/attachments/1530272403.jpg
Demand gt; supply. Stopped out to -170 pips
Total reduction this week, approx 215 pips
Mike, thanks for the unrelentless effort keeping us the ABCD traders moved from the chase of trading independence. As a testement to what you mentioned, here is a pic of Ucad in the 4hr tf.I traded it for few days, heck almost had a panic attack when the D shifted almost bowled X, but with cash management, managed to hang on and reap D and C of this gartley almost butterfly.
Soya, I love the things you put here, please continue the fantastic job, and I hope to hear more from the regulars in this thread.
In the world of academic, the one who teach learns...
If u take a vivid look in ucad, u willl see the crown formation. Am up with over 150pips as in the time I looked and to God be the glory,'m near too 1000pips for the week, to not flaunt or boast but to say thanks to everybody that has contributed to this achievement...
If u have a vivid look in ucad, u willl see the crown formation. 'm up with over 150pips as in the time that I looked and to God be the glory,'m close too 1000pips for the week, to not flaunt or boast but to say thanks to everybody who has contributed to the success.... congrats man. . .thats the best way to go...
That was it for the week. Just 3 trades and a loss of -215 pips and largely by my NU trade like I took 2 lots in it.
Better week beforehand!
Really busy with college work nowadays, barely paying attention to my charts.
Took a brief on UC this morning and it just closed for 76 pips.
https://forexintuitive.com/attachments/1530272428911048841.jpg
Month so far: -140 pips
Took a commerce, short on cable.
https://forexintuitive.com/attachments/15302724301064375215.jpg
Month so far: -140 pips
Took a trade, short on cable. Great luck on partner...I would say price is starting to accumlate at current price....though yout risk to reward is not so good but regardless good luck with your transaction
You got the PIN in the daily and the butterfly was flying round the pakute TL.Loaded the the gun and KAPAU! Shot the creature.
I have been stalking the UJ butterfly because and if PIN showed.
I hope you guy caught this butterfly and PIN.
Cheers.
https://forexintuitive.com/attachments/1530272432675367050.jpg
Hello Nimrod,
Nice Commerce.
This Gartley can be working nicely for a few pips.
https://forexintuitive.com/attachments/15302724352038853132.jpg
Where is everyone here?
soya, where art thou?
https://forexintuitive.com/cryptocurrencies-and-commodities/125-xauusd-xagusd.html
HAve been exceptionally busy with my undergraduate studies and trading Currency Market of course. Attached are several trades that interest me.
https://forexintuitive.com/attachments/15286995991498002124.jpg
https://forexintuitive.com/attachments/1528699600515446509.jpg
Hi soyabean!!
Now , I went to a profile and find that very interesting thread... I suppose that you already migrated into DRA's thread, but it would be wonderful to see more ideas from you . Very pleasant posts!!
There are other setups on the GU and UJ that I didnt take.
UJ was a risky installment as there seems to be a strong support at 92.00 degree.
GU seems like a perfectly great setup that I overlooked, lovely bearish evening star at the confluence of 1.64 resistance and at the 61.8 retracement.
Heello!
Sorry that I ask a questoin on a 7 month-old-trade, but I've a doubt about the transactions you chose around Sept 7. I'm referring to articles #379 and 380 (page 26).
In the case of GU, you had a definite main down TL, that was broken. At a minute, price analyzed it using a trap pub in 4H (I believe this in 1H, you could have seen something similar to a bullish engulfing). As this was a clear testing from the down TL, weren't we in a 80% bullish trend? As I know, we were in a buy zone .
Furthermore: after having a clear uptrend line, why did you take that short?
The same question goes for the UJ trade (in this instance, we just had an up TL, and a rest in the down TL).
I suppose there's something Im missing in that trade.
Thanks a lot!!
Heello!
Sorry that I ask a questoin about a 7 month-old-trade, however I have a doubt about the trades you took around Sept 7. I'm referring to articles #379 and 380 (page 26).
In the instance of GU, you had a definite main down TL, that was busted. In a moment, price tested it with a pin bar in 4H (I believe that in 1H, you could have seen something like a bullish engulfing). As this was a very clear testing from the down TL, were not we at a 80% bullish trend? As I know, we had been at a buy zone already.
Additionally: after with a very clear uptrend line, why... Hi Jed, do you have msn? I find it simpler to describe for you through messenger.
Firstly, the GU trade, should you observe carefully, price really broke through a major daily up tl ard 14 AUG.. Price retraced to check the major up tl on 21 Aug, and then returning to support at 25 aug.. This immediately puts the pair into a strong bearish market zone. What you saw was a fracture of a minor down TL, I had been focused on the major TL then. I form my prejudice from the daily and weekly charts. In hindsight, price just turned back down around 10 Sep..
Same for your UJ Trade. Zoom out and you'll observe that a major UP tl has been broken. The pair has been trading down because 12 Aug.. A break of a brief term down tl doesn't change its major trend! Rmb, in a break of inner TL, the prob is just 40% bullish but still 60 percent bearish. Especially at a solid resistance level, we should expect the pair to keep its fashion.
Basically... Look at higher timeframes to get a prejudice of the major trend. Https://forexintuitive.com/attachments/1528699592.png Type a prejudice, and just trade in that direction, disregarding the brief term noise.
Greatest
Nathan
Hi Jed, do you have msn? I find it easier to explain for you through messenger.
Firstly, the GU commerce, if you see carefully, price really broke through a major daily up tl ard 14 AUG.. Price retraced to check the major up tl on 21 Aug, and then returning to encourage 25 aug.. This immediately puts the pair to a strong bearish sell zone. What you saw was a fracture of a little down TL, I was focused on the major TL then. I form my bias from the daily and weekly charts. In hindsight, price just turned back down about 10 Sep..
Same for... As I said before, I was overlooking some thing https://forexintuitive.com/attachments/1528699592.png
Thank you!!
I will start with the most recent transaction that shut today, this was a transaction I took on NZDJPY yesterday. I also took a missing on a long position wih GBPAUD.
https://forexintuitive.com/attachments/15286995421781487418.jpg
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