Get started

Forextrading

EURUSD 15M BEAR FLAG BREAKOUT SHORT CONTINUATION TRADE HOW TO USE THE STE PULSE COLORED BARS TO TRADE A BEARISH FLAG SHORT CONTINUATION TRADE. Price Consolidation caused STE Bars to change to a Dark Red color and to rise up towards zero line. STE Bars did not cross above zero line but bounced short again and changed to a light red color and increased in length. Short Stop Order placed @ 1.0990. Stop Loss placed above top of consolidation range. You determine Take Profit
Education
by Tradingstrategyguides
STAR TREK CAPTAIN JEAN-LUC PICARDCaptian Jean-Luc Picard is a character from the series Star Trek. He is many Star Trek fans favorite Captain because of his combination of class, wisdom and wit. This particular statement was spoken to the Android Data who was failing in his attempts to be more human. Tim has found this encapsulated his early trading experiences to a tee. Early in Tim's attempts to be a profitable trader he traded index futures. He had his strategy and was paper trading. He would get four or five winning trades in a row. He felt he knew what he was doing and felt he was ready to try real money. So the next trade setup he took on his real money account and lost, so he returned to paper trading. This cycle repeated itself several times. Losers are part of the statistical game in trading. If he stuck to the real money account those paper winning trades would have been real money winners. These winners would have easily offset the losers. The whole time he felt he was making mistakes. If he did it right it should have been a winner. Understand this, you can get all the rules right and still lose a trade. That's ok, that's life. That's trading. Trading is never a sure thing, it's always about statistic and probability. Just because you had a loser doesn't mean tht you did something wrong. Just because you had a winner doesn't mean you did everything right either. The important thing is to follow your strategy rules, your trade management rules, your risk management rules. If you followed all your rules then you did it right, winner or loser. Trading Maxim's help control your emotional impulses and keep you on the straight and narrow path. A maxim is a general truth fundamental principle, a rule of conduct or a proverbial saying. The purpose of Tim's Maxim's is to motivate you to discipline and trading as well as other areas of your life. We suggest that you start your own list of Maxim's. Things you can say to yourself while you are trading or doing life to make sure you always do the right thing. Feel free to borrow from Tim's list.
COINBASE:BTCUSDEducation
by Tradingstrategyguides
EURCAD 4H SHORT TRADETSG MONEY MANAGEMENT RULES. 1 - Enter 2 trades @ Sell Limit @ 1.4554 - 1% Trade Balance each. 2 - 4H ATR = 25. 3 - SL = 1.5 x ATR (1.5 x 25 = 37.5 = 1.45915) SL for both trades. 4 - TP = 1 x ATR ( 1 x 25 = TP = 1.4529) TP is for 1st order only, 2nd order no TP let profit run. 5 - When 1st TP hit move 2nd order SL to breakeven. 6 - Trail 2nd SL behind previous fractal highs. Price moved up to retest a previous Sup/Res level. Sell Limit made @ 1.4554 for 2 trades. 1st TP hit @ 1.4529, move 2nd trade SL to breakeven @ 1.4554. Price had a bullish pullback and hit 2nd trade SL Price stayed below the previous Sell Limit level of 1.4554. Price re-setup short trade and re-entered another Sell Limit order @ 1.4554. 1st TP hit @ 1.4529, 2nd SL moved to breakeven. Price created a new current fractal low support of 1.4513. Moved Trail SL to current fractal high @ 1.4537. Price created a 2nd current fractal low support at 1.4483. If Price breaks that level then Trail SL to 1.4505 current fractal high. Continue to trail SL if Price continues its bearish move. This current EURCAD 4H Short trade was found by DACapitalTrading Jan 13th. We added to this short trade our TSG money management trade plan.
Education
by Tradingstrategyguides
GBPJPY 15M SCALPING US SESSION INSIDE CANDLE BREAKOUT STRATEGYINSIDE CANDLE STRATEGY What is an Inside Candle 1. Previous candle engulfs next candle. 2. 2nd candle high is lower that 1st engulfing candle. 3. 2nd candle low is higher than 1st engulfing candle. INSIDE CANDLE METHOD 1. Incoming Trend 2. Inside Candle – Opposite Color 3. Enter Break of Engulfing Larger Candle Inside Candle method is a great short term consolidation indicator. If your trade plan contains breakouts and consolidation then this method is for you. This is a great way to find smaller consolidations quicker which will give you more trades on whatever time frame you want to look. On a daily chart it may take weeks for a consolidation pattern to form. An Inside candle represents a pause, consolidation or compression in the market after a big move. Often you will also see reduced volume on the inside candle. Inside Candle method is a pause or a reversal of the trend . So it is more effective if there is an incoming trend. Enter a break of the larger engulfing candle in the direction of the break. Enter with a Stop Order a few pips above or below breakout level. Which trades you take is a matter of preference. Some like reversal trades or trend following trades. Scalping inside candle pattern doesn't matter what direction you may go. Trend following you will want to see this in context of a larger trend. Take all the trade setups and just shut down the ones that don't preform. Trade Management: Enter 2 trades Stop Loss is 1.5 x ATR for both trades First Take Profit is 1 x ATR for 1st trade 2nd trade there is no take profit. When 1st TP is hit move 2nd trades SL to breakeven. Let profit run on 2nd trade by following/trailing SL. If a candle closes back inside the larger engulfing candle close down trade. Watch for a setup for the next breakout.
Education
by Tradingstrategyguides
GBPUSD 15M NEW LONDON OPENING BREAKOUT TRADING STRATEGYRule #1 Define the London Trading Range We’re going to use the range definition that takes into consideration only the body of the candles, excluding the wicks. Note* this trading rule can be adapted as you get more experienced at reading the price action. Who knows, maybe you’ll be able to discover some price action tendencies around the London open that no-ones was able to see. In the GBP/USD chart we’ve outlined the trading range: The London open breakout strategy works because the Asia trading range tends to attract buy and sell stops above and below the trading range. The bulk of buying and selling stops becomes an easy target for smart money. Remember that traders need liquidity to execute their orders. And, the smart money is always in search of liquidity to fill their large orders. That’s the reason why smart money needs to trigger those stops. Rule #2: The One-Hour before the London Open Needs to Generate the Breakout Our backtesting results revealed that momentum really starts to pick up 1-hour earlier than the actual London opening session. There are some smart ways to trade this burst of momentum. Let’s see some technical ways to trade the pre-London open. We don’t need to guess in which way the market will break, we let the market tip his hand and show us the way. This is where things get interesting. Let me explain… During the London session, we’re going to see the most traded volume thus the foreign exchange market should really take off in one direction or another. From our example, we can note the GBP/USD one-sided move. We didn’t have any interruptions in the momentum activity, and that’s the KEY for this whole trading setup to work. Let’s now outline the second technical element you want to see with the London setup. Rule #3 Buy the London Open Breakout Immediately after the London session opens, we want to see the price fading the pre-open move. If the price move starts fading, we know it was a false breakout The smart money has used the pre-open move to trigger the stops below the range and now they reverse the tie and start buying. We want to see price pulling back into the range at the same speed as it went up. In simple words, the bullish momentum used to produce the false breakout needs to be equal to the bearish momentum used to fade the pre-open move. We enter our trade after the first 5-minutes have confirmed that the price is reversing. Once this trade setup is completed, you should see a price formation that takes the V-shaped form (or inverse V-shape). Let’s now explore what methods you can use to cash in the profits. Rule #4 Take Profit or Ride the Trend We can measure the size of the Asia trading range and project that, from the top or bottom of our range to get our profit target. But, oftentimes this type of setup can lead to a trading day that can extend in the days to come. Now, in this case, it’s wise if you employ other trading tactics so you can actually profit from this trend. In this example, the better take profit strategy would be to use a trailing stop. You need to be ready to explore other trading methods to manage your trades. Protecting the downside is as important as making money. Rule #5 Use a Time Stop Instead of a Price Stop In order to fade the London breakout, you need to use unconventional trading methods. In this regard, for our stop loss trading strategy we’re going to use a time stop instead of a price stop. The first time I’ve ever heard about the time stop concept was while reading the Market Wizards book. Billionaire Hedge Fund manager Paul Tudor Jones one of the greatest traders of our times said: “When I trade, I don’t just use a price stop, I also use a time stop.” If you want to get a glimpse into the mindset of the most successful traders and hedge fund managers, please read: Top Trading Quotes of All Time - Learn to Trade. So, do you want to know how to apply the time stop to the London strategy? It’s very simple… If in the first hour after the London open the price didn’t COMPLETELY reverse the pre-opening breakout, we exit the trade. It’s simple as that, no further explanation is needed.
Education
by Tradingstrategyguides
EURUSD 1H INSIDE CANDLE METHOD BREAKOUTINSIDE CANDLE STRATEGY What is an Inside Candle 1. Previous candle engulfs next candle. 2. 2nd candle high is lower that 1st candle. 3. 2nd candle low is higher than 1st candle. INSIDE CANDLE METHOD 1. Incoming Trend 2. Inside Candle – Opposite Color 3. Enter Break of Engulfing Larger Candle Inside Candle method is a great short term consolidation indicator. If your trade plan contains breakouts and consolidation then this method is for you. This is a great way to find smaller consolidations quicker which will give you more trades on whatever time frame you want to look. On a daily chart it may take weeks for a consolidation pattern to form. Inside candle represents a pause, consolidation or compression in the market after a big move. Often you will also see reduced volume on the inside candle. Inside Candle method is a pause or a reversal of the trend . So it is more effective if there is an incoming trend. Enter a break of the larger engulfing candle in the direction of the break. Enter with a Stop Order a few pips above or below breakout level. Which trades you take is a matter of preference. Some like reversal trades or trend following trades. Scalping in doesn't matter what direction you may go. Trend following you will want to see this in context of a larger trend. Take all the trade setups and just shut down the ones that don't preform. Trade Management: Enter 2 trades Stop Loss is 1.5 x ATR for both trades First Take Profit is 1 x ATR for 1st trade 2nd trade there is no take profit. When 1st TP is hit move 2nd trades SL to breakeven. Let profit run on 2nd trade by following/trailing SL. If a candle closes back inside the larger engulfing candle close down trade. Watch for a setup for the next breakout.
Education
by Tradingstrategyguides
EU : Shadow support and potential level to watchHello fellas, Here it is the short term view of current movement of EURUSD and today's potential movement for EURUSD . Today, we can expect the price to test this 2 regions which are the yellow support trend line and the blue region as a shadown support which have the confluence with the previous yellow line. Yellow line is simply the support trend line that has held the price since November 29th, 2019 and breaking down of this yellow line will lead the price to further fall around the white support trend line as the S1. Look at my long term bias on my previous analysis in related idea
Education
by julio24albert
EU levels to watch this weekHere it is I present to all of you about the EU chart and potential levels to be tested in this week. I want to give several highlighted things in this chart. First, Looking at the green resistance trend line, this is the resistance trend line which has driven the price since september 2018. This is however become the massive trend line and on daily chart, this resistance trend line is having an alignment with the 200 MA. So, currently the price has now showing the rejection toward this resistance trend line and this action is just showing us that the price still respect current resistance area. Second, Looking at the price actually has formed the higher low structure and looks like the higher high structure will be formed in the near future. This is a pretty good pattern combination for now. After the price breaks out of the green zone, we'll see a rally toward the upside and long position for swing could be activated. This weeks we will see a little retracement toward the 1st support zone or maximum to the 2nd support zone. But, my main bias is still testing the green resistance trend line.
Education
by julio24albert
ATR MONEY MANAGEMENT FOR GBPAUD & EURUSD 4H & 1DUsing a set amount for SL and TP for different pairs and time frames is not effective money management. Using the ATR for a specific pair and time frame lets you custom yur SL & TP for what that pair actually moves. ATR 1D takes the last 14 candles and adds up then up together and then divides that figure by 14. Now you have an average of how much that pair moves in a day. GBPAUD 1D ATR moves 133 pips GBPAUD 4H ATR moves 47 pips EURUSD 1D ATR moves 42 pips EURUSD 4H ATR moves 15,6 pips This helps me determine a more accurate setting for my SL and TP for the pair I am trading and the time frame I am using.
Education
by Tradingstrategyguides
EURUSD 1D AWESOME OSCILLATOR (AO) STRATEGYLong Trade AO below Zero Line AO creates a Low AO then creates a Higher Low ENTER after AO bar closes Green Short Trade AO above Zero Line AO creates High AO then creates a Lower High ENTER after AO bar closes Red Stop Loss is 1.5 x ATR Take Profit is 1 x ATR 1 - Trade Management 2 - Enter two trades. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st trade TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price.
Education
by Tradingstrategyguides
EURNZD– Sellers are working on potencial sell because...EURNZD– Sellers are working on potencial sell because... Trend: Strong Sell Support/Resistance R3: 1.73495 R2: 1.72749 R1: 1.72124 S1: 1.71437 S2: 1.70602 S3: 1.69815 S4: 1.68599 Price action Sellers are working on potencial sell because of weak eur currency on the other side. Sellers has to break S1 and then will be even more stronger then, they are now. Nzd currency is same showing good power from overall perspective, which made this currency pair more attractive to trade. Potencial trade idea Bulls targets: T1: 1.72749 T2: 1.73495 Bears targets: T1: 1.70602 T2: 1.69815 T3: 1.68599 NOTE – We are trading EURNZD via the preferred trading setups ELITEFXACADEMY Disclamer1 : We have to wait for a currency pair to trade after news are reliased. This might be a short correction, or price will give us moving dirrection after news are reliased. Disclaimer2: Martin's views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don't publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.
Education
by EliteFxAcademy
USDCAD – Price might break channel and then...USDCAD – Price might break channel and then follow up move higher Trend: Strong Buy Support/Resistance: R3: 1.33922 R2: 1.33454 R1: 1.32800 S1: 1.32721 S2: 1.32339 Price action: Buyers rebonded from the channel, but still we don't know if sellers will react, so we need first answer from sellers. If buyers are able to break channel and hold above then we have to face off with R2 to follow official target at 1.33922 resistance level. If buyers cannot hold, then we can see rest from buyers, which is dependent from sell bounce. Potencial trade idea: Bulls targets: T1: 1.33454 T2: 1.33922 Bears targets: T1: 1.32339 NOTE – We are trading USDCAD via the preferred trading setups ELITEFXACADEMY Disclaimer: Martin's views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don't publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.
Education
by EliteFxAcademy
CADJPY – Sellers will soon show good position for sell if...CADJPY – Sellers will soon show good position for sell if the price will maintain below new resistance Trend: Strong Sell Support/Resistance: R3: 81.200 R2: 81.838 R1: 81.634 S1: 81.402 S2: 80.840 S3: 80.252 S4: 79.817 Price action: Market start showing potencial reverse flow, from buy to sell. We have to be carefull from now to the London section, but if their we see potencial entry, which might be very soon, then next targets are optimistically short targets. If sell is failed, then we might see holding around this area. Remember that news will be reliesed at 2.30 GMT +1 Potencial trade idea: Bulls targets: T1: 81.200 Bears targets: T1: 80.840 T1: 80.252 T1: 79.817 NOTE – We are trading CADJPY via the preferred trading setups ELITEFXACADEMY Disclaimer: Martin's views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don't publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.
Education
by EliteFxAcademy
GBPCAD – Buyers are going in trending way, but do you thing theyGBPCAD – Buyers are going in trending way, but do you thing they can break even Trend: Buy/ Neutral Support/Resistance: R2: 1.73254 R1: 1.70913 S1: 1.69200 S2: 1.67288 Price action: Buyers are headed to break R1 level, but suspitious to me is buyer's laziness. In next days we still has to be carefull on candle charatheristics. If Sellers might face off buyers first, then next target for them will be at S1 level. If they break S1 level, then they could go deeper to our last buyers failing move. Potencial trade idea: Bulls targets: T1 = 1.73254 Bears targets: T1 = 1.69200 T1 = 1.67288 NOTE – We are trading GBPCAD via the preferred trading setups ELITEFXACADEMY Disclaimer2: Martin's views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don't publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.
Education
by EliteFxAcademy
AUDCHF – Previous week was crazy, from both price action and newAUDCHF – Previous week was crazy, from both price action and news announcement Trend: Buy Neutral Support/Resistance: R3: 0.68363 R2: 0.67923 R1: 0.67621 S1: 0.67227 S2: 0.66872 Price action: Pirce seem sellers tok of the stage. But overall trade is still in buyers ayes. If sellers are enough strong then, they should push the price lower from R1. If buyers can handle above R1 then next potencial Sell is at R2 to test again R1. This trade is a very tricky, but good for education. Potencial trade idea: Bulls targets: T1 = 0.67227 T2 = 0.66872 Bears targets: T1 = 0.67923 T1 = 0.68363 NOTE – We are trading AUDCHF via the preferred trading setups ELITEFXACADEMY Disclaimer2: Martin's views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don't publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.
Education
by EliteFxAcademy
AUDCAD – Buyers trending might be proven to highs these daysAUDCAD – Buyers trending might be proven to highs these days Trend: Strong Buy Support/Resistance: R3: 0.91447 R2: 0.91023 R1: 0.90719 S1: 0.90522 S2: 0.90224 S3: 0.89947 Price action: This case is showing very strong momentum versus lazy sellers. From last week price action was high to 0.912 level, where is going following price if it the price can break and hold above level 0.90719. Follow targets too. Potencial trade idea: Bulls targets: T1: 0.91023 T2: 0.91447 Bears targets: T1: 0.90224 NOTE – We are trading AUDCAD via the preferred trading setups Disclamer1: We have to wait for a currency pair to trade after news are reliased. This might be a short correction, or price will give us moving dirrection after news are reliased. Disclaimer2: Martin's views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don't publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course. ELITEFXACADEMY
Education
by EliteFxAcademy
AUDCAD – Buyers trending caught between daily channelAUDCAD – Buyers trending caught between daily channel Trend: Strong Buy Support/Resistance: R3: 1.09128 R2: 1.08901 R1: 1.08635 S1: 1.08206 S2: 1.07998 S3: 1.07798 Price action: Buyers are showing strong performance. From previous day price touched high level and rebounded from overall daily channel. Price did a faker but still might go long position, because daily candle was closed above 1.08206 level. Potencial trade idea: Bulls targets: T1: 1.08635 T2: 1.08901 T3: 1.09128 Bears targets: T1: 1.07998 T2: 1.07798 NOTE – We are trading AUDNZD via the preferred trading setups  ELITEFXACADEMY
Education
by EliteFxAcademy
CHFJPY – Jpy currency is showing weakness from previous days andCHFJPY – Jpy currency is showing weakness from previous days and the trade might be continued by swiss currency. Trend: Strong Buy Support/Resistance: R3: 111.497 R2: 110.800 R1: 110.169 S1: 109.779 S2: 109.384 Price action: Buyers might continue move higer if buyers break resistance level at 110.169. If we hold above this level then price might see targets such as 110.800 level and higher at 111.497 level. If buyers would dismissed momentum then sellers target is at buyers support at 109.384. Potencial trade idea: Bulls targets: T1: 110.800 T2: 111.497 Bears targets: T2: 109.384 NOTE – We are trading CHFJPY via the preferred trading setups ELITEFXACADEMY
Education
by EliteFxAcademy