Get started

Ftmo

AUD|USD Multiple Timeframes AnalysisDaily Timeframe Analysis On the daily timeframe, AUDUSD has been trading in a downtrend. We have a double zig-zag correction pattern. Waves (W) and (Y) are zig-zag correction patterns, wave (X) flat correction wave (Y) is possibly over and we could be turning into a bullish trend. Price has broken through the channel in the bullish trend. Based on technical analysis AUDUSD is bullish. 4Hour Timeframe Analysis It’s interesting to see the trend ends with an Ending Diagonal pattern, more than likely we won’t break below the old low on the 5th wave. Recently price made a push-up as an impulse move, as we know price moves in impulse-correction-impulse sequence so now we have to expect a sell-off as a wave (2) before the next rally as an impulse move for the wave (3). 1Hour Timeframe Analysis On the 1hour timeframe, we can see a clear impulse move for a wave (1) on a higher degree. We need to see a pullback/correction. The correction can be any corrective pattern except a Triangle pattern. The Fibonacci retracement is not the focus but on how the correction pattern unfolds the deeper the pullback the higher the R/R and less risk in terms of pips.
Long
by Weshareio
USDCHF-EURUSD Forex Trading AnalysisEURUSD Analysis EURUSD is repeating the same structure as the one from the bigger degree as the one we are currently at. Often times we like to mention that saves 1 and 4 are never overlapped and it’s no exception here. Wave 4 touched the 50% retracement level as from previous wave 3. The are multiple ways to set targets for wave 5 one being the use of the Fibonacci multiple technique or wave 1 distance as they are often equal. USDCHF Analysis Price was pretty much in a correction phase this week which many consider being a Zig-Zag correction. Other charting practitioners call this a flag pattern. It would be wise to anticipate the price to reach the 78,6 Fibonacci level and then reverses to the upside direction.
by Weshareio
CADJPY-GBPJPY Forex Trading AnalysisGBPJPY Analysis GBPJPY recently formed a diagonal pattern which in this case we would consider to be an Ending Diagonal pattern. The sell-off could still continue prior to we haven’t seen a clear correction pattern to the downside we only see price as an impulse wave. Now we are likely to see impulse moves continue. CADJPY Analysis GBPJPY is not any different from CADJPY we are seeing many similarities between these two pairs they are more corralled waiting for a correction before considering the next buy trade idea. The only difference is that GBPJPY is forming an Ending Diagonal whereas CADJPY is forming a Leading Diagonal pattern.
Short
by Weshareio
2
Long Opportunity on GBPUSD towards ...In previous post I shared my interest in a long on Euro. However, GBPUSD seems to be the stronger one between the two based on recent price action on EURGBP. Looking at GBPUSD, It stays in a bullish scenario as long as long as price doesn't fall below 1.2474. However, on an intra-day basis, i'm looking for GBPUSD to stay strong and break above today's daily high at 1.2562 and potentially head towards 1.2600 and then to the old daily high at 1.2650.
Long
by CityTradersImperium_CTI
USDCAD SHORT Price has been in deep correction on the daily chart. If you look at ichimoku on the Daily Chart price has rejected at the top of the cloud and currently is projecting a bearish future also known as the kumo. On the hour chart price rejected at the fractal level and created a lower high. Lagging Span (purple line) is pointed down and we have a bearish tk cross over for a entry into the market. Since price rejected on the daily clould I would hold this trade to maximize profit.
Short
by fxswint
Prop-firm Challenges (FTMO) Risk ManagementProp-firms tell us to come trade for them so that they can take trades off our ideas. In reality they make their money on relying on the fact that 95% of traders are unprofitable and will fail either the challenge or verification stages of their trading. People fail because either they do not have a real edge on the market, they cannot control their emotions, or some combination of the two. If you only have a 10% total loss before you lose the account, why are you risking 1% per trade? why are you risking 1% with only 2% left? The short answer is because you cannot manage risk. And if you cannot manage risk you with either fail immediately, or fail in time. This is a risk profile guide for attempts at FTMO or any other prop firm. The basic premise is to begin at 1% and raise it while in profit, and lower it while in loss. A new theoretical 0 point can be established even within profit in order to protect your gains. You must understand that no single trade is that important. If you are hoping for a trade to change your life you are going about this the wrong way. What is important is compounding profitable trades that outweigh the losers.
Education
by akhena10fx