Get started

Professionaltrader

How To Think Like A Professional TraderA strategy is only as good as the trader using it. Patterns are not enough, neither is support or resistance. Candle patterns help, but will not do the trick alone. Unless you can understand the structures of the markets, alongside the behaviour, then really and truly you are just trading blind. In this short episode, I go through three trade ideas that were planned out today (03/12/2020) on the RockzFX Academy live trading session, so you can get an idea of what it means to plan your trade, and trade your plan!
Education
by RockzFX
33
US30 Analysis SELLHappy Sunday Traders,👨🏿‍💻📉 US30 Daily Chart- Fundermentals- U.S. stock indexes closed sharply higher Friday, notching a pair of fresh records, as Wall Street wrapped up a week framed by optimism over the prospects of vaccines and treatments for COVID-19 and yet gloom over a spike in the viral outbreak in the U.S. and Europe. Markets also remain sensitive to talk of the possibility of another fiscal aid package that could help workers and businesses, despite a lack of political momentum to achieve a pact in the aftermath of a contentious U.S. presidential election. Technical Analysis- Price currently around Monthly Resistance Zone which has been tested multiple times in the past, anticipating a great area to sell with price action patterns. I'll be looking at taking Counter-trend entries on the 4HR this week.
UShort
by Deensesay
NAS100, What Goes Up Must Come Down!Nasdaq 100 Weekly/Daily Charts- What goes up must come down! The US100 is operating @ an all time high with the market being in a very strong Uptrend. Fundamentals- The Nasdaq has staged a massive rally over the last few trading sessions in the aftermath of election night. With challenger Joe Biden looking set to claim victory over incumbent Donald Trump, and prospects of a split congress squashing fears of higher corporate taxes, investors have pushed major stock indices notably higher this week. Nasdaq price action surged almost 10% from last Friday’s close while the S&P 500 and Dow both gained about 7% a piece. This coincided with a sharp slide in the US Dollar and breakout in gold prices. Price is currently @Monthly Resistance level (brown zone) which has been respected multiple times and this is where I'll be looking for counter-trend opportunities on the 4HR Chart this week! Link to Weekly Chart;
OANDA:NAS100USDShort
by Deensesay
GBPUSD LIVE TRADEGBPUSD H4- Market currently in a downtrend & is trending below the 50EMA. Reason For Entry- (Fundamental Analysis)- The Pound (£) Markets are EXTREMELY volatile right now traders following comments from British Cabinet Minister Michael Gove saying that he made clear that the UK would not withdraw the Internal Markets Bill. This comment effected the GBPUSD as it has plummeted 1.45%. (Technical Analysis) - Market Pullback move followed by Engulfing Candle. SL- 81 Pips (1.30510)⛔️ TP1- 81 Pips (1.28870)✅ TP2- 162 Pips (1.28070)✅
Short
by Deensesay
1
USDJPYUSDJPY- USDJPY has recently crossed the 50EMA meaning the start of a new trend on the 4HR Chart. This with the Federal Reserve’s policy announcement on Thursday provoked a violent reaction as the dollar snapped lower then recovered but the prospect of an ever lengthening term at the zero rate boundary drove the USD/JPY to its weakest close in a month on Friday.  USDJPY is at a level of structure support that has been a major level of structure for this pair multiple times in the past.for this week, I will be looking for possible long trades out of this pair from our Monthly Support Zone.  Support Area (Brown Zone) = (103.980-105.930)
by Deensesay