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EURNOK 4H 375pip SELL - For week starting 29.3.2021What's up please comment what I can do better. I have spotted a smaller head and shoulders pattern (0vert last 8 days) forming on the a pull back of the EURNOK downtrend which began this time last year. The 1D trend line (orange) was recently broken up and then back down, the most recent wick up failed on the 25th and lost momentum suggesting a considerable number of swing buyers have left the market, allowing the selling pressure to increase. The 100ma is in our favour as well as the TDI indicator which is turning bearish overall. We're looking for solid confirmation of the neckline and the 100ma being broken (especially whichever comes last) before we enter this as price could simply be ranging irregularly and catch us out. Be careful entering this on Monday as there's more fakeouts at market open. If you get in this trade around the entry shown on my screen, I would set: TP1: 50pip TP2: 90pip at fib level 1.000 meeting the yearly low and TP3 at 375pip @ fib level 1.618. We're likely going to see a rejection of fib level 1.000 so make sure you break even at tp1. SL at 40-60pip. If we hit TP2 definitely keep a runner as we're on a downtrend and want to see monthly and yearly lows broken. Be careful my slimes Vince / Vmoney
Long
by Vmoney10
AUDUSD 1D 375pip BUY!!! For week starting 29th March 2021Hello I'm new so please suggest any improvements / indicators I could include in my analysis to improve it. Quite a simple one really, plenty of hidden bullish divergence and price is consolidating / ranging in a 400 pip range, we're hoping to catch this buy back up to the top again but if it doesn't go all the way it will at least reach TP1 so make sure you get your stop loss at break even. Macd and stochastic both correlating nicely which is a good sign as always and price is at a double bottom on a support resistance so we can definitely expect a buy as we haven't been this low in a while. Have a good weekend everyone Vince / Vmoney
Long
by Vmoney10
GBPUSD - Intraday Analysis🙋‍♂️ Hello FX Community! Check out my Intraday analysis for GBPUSD and my entry levels. More information about my trading style: I am not a pattern trader. My strategy and edge are based on volume zones where I see Big players were trading. When the market comes there, I want to enter a trade. Every day I identify key levels and key zones, then I just wait for the price to come. 📲 In the chart, you can see the Long / Short levels into which I set a limit order and then when filled I manage those positions with the information provided by volume . If the market starts to create volume on the wrong side of the level, I try to end the position at the breakeven point or stoploss. My profit target is determined by chosen RRR or by key levels and S/R zones. If the market runs through them, they can be traded from the other side as well. Supports become resistances and vice versa. ❗️ First of all, when I have the level identified, I set a stoploss. Stoploss is determined by several criteria. It must not be foo far and it must not be in an area that serves as a magnet, such as POC , Key Levels or a stoploss zone where the market runs out of liquidity. Summary: Stoploss is determined by: ✅ Pivot high/low ✅ Logical VolumeProfile zone ✅ Low-Volume Node and High-Volume node ✅ Outside key levels 🎉 Trade management rules: ✅ When I see two whole 5-minute candles on the wrong side of the level (for short level “above”, for long level “below”) I move my Take Profit to Breakeven point (entry level) and exit the position if possible, at the entry point if not, at stoploss. ✅ When 80% of the Profit target is reached, I move my stoploss to the BE point. Hope it helps, See you next time!
by Asanato