FX:EURUSD I am starting off 2023 taking a My Forex Funds $10,000evaluation challenge. Here i will be posing every trade i take on this challenge. The first one being this EURUSD trade. I will be risking 1% on all trades taken.
EURCAD is in an interesting situation where we have alternative scenario, where in the short-term they are indicating the same direction but in the long-term are different. The idea is we have a zig-zag correction and also a leading contracting diagonal pattern. Zig-Zag correction pattern we will see price break below previous low to make new lows, suggesting...
The 4H chart is stuck in a consolidation which could be a potential Triangle formation on the bullish side. We are in a bullish impulse wave.
XAUUSD Analysis The possibility of GOLD to buy are slightly high, but we do have to look at the old low which can be used as an invalidation level as waves 1 and 2 are never equal. We could potentially see price rally we reached the 78.6 Fibonacci golden zone. And the recent down wave looks to be corrective than impulsive. EURGBP Analysis The upside is...
EURUSD Analysis The euro has been weakening for a while trading to an old time low in years. From a Technical view we are most likely to see pullbacks in the upside direction how long they will take it hard to tell now but considering that we can have short term opportunities. Looking at previous pullbacks we can see it doesn't last forever in Elliott Wave Theory...
NAS100 We are trading in a bullish trend overall but on a smaller scale we will see fractals which in this case is an impulse move. We are trading at a 4th wave phase soon we sill see wave 5 completes soon before seeing the bigger pullback. Whether the 4th wave will move from the 38,2% Fibonacci level or the 50% its hard to tell but either way that doesn't...
GBPUSD Price is trading sideways as a corrective pattern which is a contractive bearish Triangle. On the bigger degree we are in a wave 4 phase and looking to complete the wave 5 phase. We have to see the wave E complete before seeing the next drop. XAUUSD We have an impulse sequence unfolding on the bearish direction. Waves 1 and 4 not overlapped and we are...
Recently we saw a Diagonal pattern structure, which in this case its double sided based on what the market is showing us now. The push up could be in a Zig-Zag correction pattern form suggesting we will see a sell-off to make a new low, then the second count suggest that the bullishness will still continue. From a Wednesday the USD will gain strength what this...
Hi All, I have started my evaluation process with MyForexFunds and will post all the trades I take from here on in my attempt to journal my trades and look back to refine my strategy. My risk perimeters per trade is 0.5-1% with an intended target of 1:3 RR I will take 1 trade per day, in the NY or London Session This is my trade idea for the day: Price has...
The AUDUSD has been trading bullish the last few days as what we would consider an impulse move. The correction pattern which is a zig-zag pattern has already formed the A-B wave and will complete the C wave. Price will complete the C wave between the 50 to 61.8 Fibonacci level. The overall view is that we have an impulse to move in the upside direction.
The dollar index is critical from a technical analysis point of view. We have two possible directions as always from the market to pick from. Our systems are bout to help us predict the right direction. But there certain cases where we see both directions as valid based on our systems this case is not any different. Bullish Scenario We recently had an A-B-C...
BTCUSD has been in steady growth recently which I would consider being a corrective phase. In this case, we have an extended wave C. Wave C is an Ending Expanding Diagonal pattern. I expect a decline before we can look for any growth the dollar is gaining a bullish strength.
In this video, we talk about GBPJPY which is showing an alternative count in the same direction which is bearish. Count-1 We have a zig-zag correction pattern in the bearish direction and we are trading in a wave (C). Count-2 We are in a series of 1-2's and we are trading in a wave 3 phase where we are looking at the wave 3 completion. what count to agree with?
SIXTH analysis of the week, today it was possible to make 0.81% of the 100k FTMO account, on the day. Market up +0.95% currently.... metrix: 1051135444 - FX:USDJPY