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Currencytrading

Possible USD/CHF Short Position!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 4-8 hours Actions on - A – Activating Event Currency Pair creating a Double Top . B – Beliefs Market will find resistance at current level at @ 0.9955 level and move towards the first Target 1 level @ 0.9926 FX:USDCHF Trade Management Entered @ Sign up for details Stop Loss @ Sign up for details Target 1 @ 0.9926 Target 2 @ 0. Risk/Reward @ 1.6 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow Thank you for your support :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
EURJPY - Forex Market| Harmonic Patterns Technical AnalysisEURJPY - Currency Trading - Forex Market - Harmonic Pattern Technical Analysis Technical Analysis ------------------ Trade Period:  Intraday Trading Currency Pair: EURJPY Time Frame: 45Minutes Predicted Direction: Short Trade Based On: The Bearish Bat Pattern or The Bearish Crab Pattern (Harmonic Patterns) Another pattern : Diamond Pattern I will open Sell if the price will make fake broke of @124.435 goal @123.989, stop loss @124.824 - Price bounced several times from key level - Yesterday the price moved up-down it was diamond pattern. Price is so close to the key level, I wait for confirmation. We will open sell the price will show fake broke only.
Short
by erbe
EUR AUD LONGReasons For The Trade (always Fundamental and Technical - always): EUR: ECB tapering their bond buying, and end of QE now in sight and signalled to the market by Mario Draghi in last meeting. EUR: recovering from losses from Italian political tensions in November (Italian Budget concerns now no longer a concern) EUR: Any good or semi-good data will be supportinve of EUR AUD: Stockmarkets still in decline and AUD is a risk averse currency AUD: RBA signalling to the market that an interest rate hike is further away and no intention to raise rates in near future AUD: Sensitive to USA-China trade war and any stale mate on negotiations would weigh on the AUD TECHNICALS: EURAUD created a new floor at 1.6050 a touch or bounce off that area would signal a bullish bias. The 1.6050 zone is also confluent with a 50% Fib retracement from recent move up on 4 HR chart Risks To This Trade: - EUR: Interest rate tightening has been pushed back a little too far in the future and data dependent - so bad data will be the risk here. - AUD: Trade tensions with China alleviated with Trump and XI of China making a favourable trade deal. Also stock market bounce will be a risk to AUD causing it to strengthen mildly.
Long
by traderworkshops
EURUSD Pair Has Negative Bias to the Downside...Be CautiousBy looking at the 4-hour chart and the daily chart, the EUR/USD currency pair has taken a turn to the upside. The pair had rebounded from 1.1211 a hair below our hypothesized bullish entry point of 1.1215. The pair had a 2.5% probability of falling lower than our hypothesized support area. However, we deduced that for something like that to happen, there would have had to be some kind of dovish catalytic speech/sentiment uttered by the European central bank president Draghi or similar dovish news. Therefore, we suspected that sooner or later the pair would attempt to claw back to its hypothesized moving average of 1.1506, but before that happened, the EUR/USD pair would’ve had to elevate toward our 1.1215 mark, which it did. Now, we are convinced that it will continue in the short term toward our next hypothesized target of 1.1361 before it finally gets back to its moving average sweet spot of 1.1506. There is a strong possibility that the pair could surpass its hypothesized moving average of 1.1506 and continue toward our next target of 1.1652 and possibly 1.1798, but this is as far as the pair will go up the charts because fundamentally, the Euro zone economy is weak, and the Eurozone’s economic cycle is nearing its peak. In fact, the EU economy is already acting as if it has commenced its recession cycle. Please click here to see the entire article.
by mstardom
AUD/JPY Short Sell continue... SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY AUD/JPY Short Sell continue... Chart Time frame - 4 Hourly Timeframe - 1-2 weeks Actions on - A – Activating Event Entered short position on the 8th Nov. Below you will see trade management details B – Beliefs Continuing on with trade however moving stop loss closer FX:AUDJPY Trade Management Entered @ 82.93 Stop Loss @ 83.3 (stop loss change to 82.600) Target 1 81.500 Target 2 78.800 Happy trading
Short
by SMPTrader
Trading Journal Basics 101SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Trading Journal Basics 101 During my trading career one of the most important elements of trading is keeping records of your trading performance. Whether its using an excel document or software such as the EDGEWONK TRADING JOURNAL, its crucial to see where you business has come from and where its going!! Below is a small detailed list of elements of a trading journal; 1. Date/time entered and exited trade 2. Asset traded 3. Long or short trade 4. Entry/ Stop loss and target price 5. Risk/Reward 6. Exit price. Did i exit at the target price? If not why? 7. Profit/Loss 9. Pips amount 10.Balance 11. Notes on trade ( both Pros and cons) 12. How can i improve next time? 13. Missed trades? 14. and many more.... Once again this is just a very basic list and there a lots more that can go into the journal. Note: Edgewonk is by far the best trading journal software that i have ever used. I highly recommend it and if you would like to know more please let me know :) Happy Trading
TVC:GOLDEducation
by SMPTrader
1
Money Management & Psychology 101SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Money Management/Psychology Cycle of Market Emotions The Upturn • Optimism: The normal financial specialist enters the market feeling hopeful. They may likewise have elevated requirements for the profits in which they are involved. • Excitement: When the market goes up, the desires begin to end up noticeably a reality and the financial specialist encounters commitment. • Thrill: The market proceeds up and the financial specialist is excited. • Euphoria: As the market achieves its peak, the financial specialist is euphoric and very certain that the market will proceed up. The Downturn • Anxiety: The market starts to plunge, producing sentiments of nervousness (Point 5). • Denial—The market keeps on falling, and the financial specialist experiences dissent with so many considerations as "It's alright, I'm in it for the long run," and "This is only a transitory misfortune," (Point 6). • Desperation and Panic—As the market cycles bring down still, sentiments of urgency and anger follow (Points 7 and 8, separately). • Surrender—Panic, in the long run, offers an approach to surrender when the financial specialist supposes "How might I have been so off-base? I cannot deal with being in the market anymore. I can't take any more misfortunes," (Point 9). The Bottom and the Recovery • Depression: While the financial specialist flounders in wretchedness (point 10), the market winds up in a sorry situation and offers a route to another bull. • Hope: As the market keeps on reinforcing, the financial specialist is confident that the market will proceed up (Point 11). • Relief: Once the market affirms it is in an uptrend, the speculator feels alleviation, however, they are as yet not sufficiently sure to contribute (Point 12). • Optimism: The financial specialist holds up until the point that they feel idealistic once more (Point 1 or frequently significantly later) before re-entering the market. As we portrayed over, this typically does not occur until the point that they have officially missed a huge bit of the up move, and their opportunity to recover misfortunes with it. Position Structure There are several trading software’s, which empowers the individuals to either structure or drive their framework by an individual or by position. Before the data is set-up in the control tables, an individual should choose which technique to utilise. The framework forms the data contrastingly relying upon the person’s decision. When the software is driven by an individual, work codes are utilised to arrange work information into gatherings. These codes are utilised to connect individual information to work information. When the software is driven by position, despite everything, work codes are utilised to make general gatherings or occupation arrangements in the association, for example, EEO (measure up to business opportunity) and pay review information.
Education
by SMPTrader