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Trend Trade on GBPAUD for 2.4-to-1 Reward!Our @FollowMyForex trend trading system just gave a new signal, this time to short the GBPAUD. This trade carries a nice 2.4-to-1 reward to risk ratio and we'll be taking 50% off at the first target. After that we'll let the trade do it's thing and ride out the rest of the position to target 2. All the GBP pairs have been in an incredible bearish trend over the past few weeks and as trend traders we have been able to capitalize on this entire move. Nobody knows how far these GBP pairs might still fall but that's the beauty of trend trading, you are almost always wrong if you try to guess the top or bottom. Rather just trade a great system with a proven edge. Trade safely, updates to follow.
Short
by FollowMyForex
LINKBTC Blue Sky Breakout Retracement Hello Traders, Today's Technical Analysis will be on LINKBTC with its decent retracement from its blue sky breakout. Points to consider - Held support at the .618 Fibonacci level (Fib levels are only considering body candles not wicks in this TA) - Three touches confirming trend line - Structure has been putting in lower highs and higher highs - Potential falling wedge pattern - Extremely low volume thus breakout is highly probable - Potential Higher Low in place if trend continues bullish - EMA's neutral not showing much significance right now - RSI currently neutral - Stoch's however showing more potential of downwards momentum Link could retrace right back to the .618 Fib before making another move up, however if the trend line is broken, then whole market structure will be overturned. This will make the structure more bearish, signifying that the correction is not over and further downside is probable... What are your thoughts? And remember, “Holding losses and hoping to break even is not an investing or trading plan. That is dumb money on suicide watch!” ― Fred McAllen,
by AzizKhanZamani
This is why I love intra-day tradingIf I decide to continue to stick to the long-term trade idea, I would make at most 9% as I wait for the trend to cross the peak it reached a few hours ago. Had I chosen to stick to my intra-day trading strategy with MATIC/USDT, I would have made at least double if not triple the profits in under a day. 9% at the first rise, 4.5% at the second and we are back at where started, giving opportunity for another 9% rise if it continues in the same direction. While my call stays at long for this, I am going to pull out of this at the next rise and continue with intra-day trading. There is too much profit to be lost with long-term trading, in my opinion.
MLong
by PurpleCrypto
2
+129 Pips Profit On USDCAD Trend Trade!After yesterday's @FollowMyForex trend following strategy to buy USDCAD on the H4 chart price never looked back and just blew through our first and then second targets. This is why our trend-following system will always be my personal favourite. When it gives a signal I always have so much confidence in the trade. You just know that you are getting on board with something that has major momentum left in the engine and the odds are always in our favor with this trade. On average our trend trades last about 2 days if we take it from the H4 chart, but this one lasted no more than 14 hours and we had all our profits booked! A commenter on the initial trade signal mentioned that he only sees downside from here which obviously wasn't the case. The lesson here is that if you have a proven professional strategy that you trade with that has a defined edge, you take each and every trade with full confidence, regardless of the scary uncertainty of what's going to happen next. You know that even if this trade results in a loss, if you keep trading this system you'll come out very profitable. And that's what it's all about after all, isn't it? Being profitable month after month, year after year. Good luck out there and well done to everybody who took yet another profitable trade with us!
by FollowMyForex
USDCAD Trend Buy With 2-to-1 RewardOur @FollowMyForex trend following strategy just gave us a confident buy signal on the USDCAD H4 chart. Following the recent uptrend, we still have strong momentum possibility to the upside and a buy is the high probability trade right now. After the decent pullback we've just bought and are targeting a nice 2-to-1 reward trade. That's the thing about trades with the trend, the risk/reward ratio is always in your favor. Updates to follow :)
Long
by FollowMyForex
3
GBPNZD Short Trade For 4.7-to-1 Reward!Hi guys, our @FollowMyForex trend following system just gave a short signal on GBPNZD for a whopping 4.7-to-1 reward to risk ratio. We will be taking half off at the first target as marked on the chart and ride out the rest of the position to the second target. Remember to never risk more than you can lose, even if the potential profits look very enticing. It's not the single particular trade that matters, but your consistency in following the system over time. Good luck, updates to follow.
Short
by FollowMyForex
GBPJPY Short With 5-to-1 Reward!A short signal just triggered on the GBPJPY. Our swing trading system will target a 5-to-1 reward for the risk taken with this trade! These sort of setups don't happen too often but when they do they make all the difference between a profitable and money-rolling-in trading month. We will be taking 50% profits at the first target area as illustrated on the chart and then ride the last 50% of the position out, going along with the momentum from the current and all higher timeframes. Updates to follow. Protect your capital and be safe!
Short
by FollowMyForex
1
First Loss In 2 Months - Important LessonWe just took our first trading loss in two months on the GBPJPY short that we initiated a couple of days ago. I always welcome losses when they are controlled and within the confines or our trading system , which this GBPJPY short was. Why is that? Because I know that every loss is one trade closer to the next big win. And having a 81% success rate since the last loss at the end of May 2019 tends to make any loss much more bearable ;) How do we remain unwaiveringly confident even in the face of losses? Easy. Trade with a system that has a proven edge. Not over one month. Not two month. Not even just one year, but a system that has a consistent track record over at least two years of backtesting. It should be rooted in sound technical analysis so that you know the odds are always in your favor when you place that next trade. Because we have so much data for this system we know all the stats related to it. Therefore we will start experimenting with even bigger position sizing in a separate "High Risk" account. It will ask to stomach much bigger drawdowns but for much bigger returns as well. More to follow, be safe and good luck!
Education
by FollowMyForex
BTC Falling Wedge ? Bull Run?Hello Traders, New Thesis on BTC, Points to consider - Resistance at $10,800 - $11,000 Zone - Support at $9000 - $9200 - Stoch on downwards momentum - RSI on downwards trend respecting resistance - Bounce from support straight into resistance, .382 Fibonacci Retracement acting as CONFLUENCE - EMA's acting as support but looks weak - Volume is declining, signalling a big move is about to come - Possible falling wedge ( Bullish Pattern), we need more touches to confirm - Fib-extension targets show a possible retracement to $7918 area BTC with a high degree of probability is forming a new higher low in this immediate down trend, confirming this will be another touch in the potential falling wedge pattern. The fib extenuation shows possible targets, only if the pattern is obligated. One major retracement level is the green zone, showing confluence with previous support. This will be a very healthy retracment for BTC, a macro higher lower would be put in.. Will this confirm the bull run? What are your thoughts? And remember, “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.” Warren Buffett
BITMEX:BTCUSD.P
by AzizKhanZamani
ETHBTC Major Support Broken!!Hello Traders, New Thesis on ETHBTC, Points to consider, - Major support broken, - Lower lows market structure - RSI neutral - Fib extension target met - VPVR volume transacted extremely low in this area - Volume climax candles present on 4hr time frame - Stoch still on down wards momentum ETH needs to rebound where it is able to retest resistance, there is no need to enter ETH at this stage as it is equivalent to catching a falling knife, we need to see a proper trend reversal and a break of the NOW major resistance before taking any positions, becareful ! What are your thoughts? Please leave a like and comment and remember, “The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance.” – Ed Seykota
by AzizKhanZamani
Tick,Tick,Tick Boom!The bears sharpen their claws, as the head and shoulders pattern on the one day chart gains attention. A break of the 1.60500 level will lead to an immaculate drop to the 1.57000 support area. The bad news doesn't stop there, the European central bank is expected to cut rates twice in the coming weeks, This may open the flood gates to the 1.55000 area. Its difficult to see where the bulls can make an attempt to strike back, for now the bears will be on the attack. Statton Capital Management. Russel Botha.
Short
by SCM2019
GBP/JPY The bulls look to take control.The 12 day sell of of the british pound vs the japanese yen looks to be over! The clear divergence on the 4hr chart and the one day chart, has gained interest from the bulls. The chart has been consistently making lower lows while the RSI has been making higher lows. The divergence signals sellers exhaustion,and the 135.500 level is a significant demand Zone which has provided strong support over the years. In the trading week to come the Bulls will target the 136.000 area, after that they will look to charge towards the next area of resistance at the 136.500 level and then a push to the 137.00 level. Analysis By: Black Gold Capital Partner Ryan Andrews.
Long
by SCM2019
#Bitcoin_Update : Where To Go Next? [Early Speculation]#Bitcoin_Update Bitcoin is showing a good bouncing move from its correctional low at 9651 USD. To be sure about the end of the correction we got to further see and study on the coming candle stick formations and the closing price of the daily chart. If it can hold above the 10664 USD area it would be considered as a good bull run in favor of the bulls but it needs more energy to confirm that the correction is ended at here. Other wise the other scenario that could possibly happen is that it will see a retest for the lows upto the 9.3K USD as we forecast it earlier or at least up to the lows of the current correctional low at around 9.6K USD. We will give more updates on the trading scenarios once we get more pattern indications though. With Regards. TeamTWA. @TogetherWeAccumulate
COINBASE:BTCUSDLong
by cryptotalk_et