Mean Reversion. WHen price goes in one direction for too far or long, it will tend to collapse back to the average price. Stochastics 20,1,1 shows overbought, Price is tanking, I entered on a sell market. I think this has to be a swing trade where one cannot be greedy. I think that the forex market isn't like the stock market where it can continue trending,...
I entered on a market buy order when price came back to the 60SMA and stochastic 20,1,1 shown oversold. I am going for the length of the Asian Consolidation as my TP, which is at 2.13R, and I referenced my stop loss just below the previous few candles, but I am not sure if it is too tight. But we shall see.
Just testing the Kumo Bounce out. Going for 1R at 0.9%, and 1R trailing stop upon entry at 0.1%.
Longed CHFJPY in the morning (now is 10:13pm SGT) after sieving through the JPY pairs in my watchlist(with Continuous Bars and Inside Bars). Price broke out of the Daily Time Frame's Minor Resistance level and continued bullishly in the previous few days. I am going for 2R TP if everything goes well. Might exit manually due to upcoming major news. Reference...
Area of value marked with diagonal trend line. Previous few times price has respected this trendline's decreasing price level, so, I entered based on it. This pair is being selected after zooming out to the max, and then observing if the price has broken out or not, and if the price is trending or not. And if yes, what angle is the price trending on? In this...
Two buy limit orders at pullback. I eyeballed the pullback based on experience by looking at how deep, sharp, strong the previous pullbacks were. Might cancel the order if price goes without us. Us being my team comprising of I me and myself. Say hi, team.
Shorting breakout consolidation of EURAUD. Going back to the book, I am trading according to Rayner's MAEE. Market condition, Area of value, Entry, Exit.
Buying USDCAD based on eyeballing the area of value. Imploded alot these few days, I dont know what I am doing anymore LOL.
Price rebounded from recent Major Support, and broke above the immediate previous Lower High, creating Higher High. I am expecting price to retrace back to the Higher Low I marked out, and if it occurs, my buy limit would get triggered.
I placed two buy limit orders at the support of the up channel. Am going for 2 positions. 1st for 1R BE. 2nd for 2.08R Max.
Bought GBPJPY during test of previous peak price. Sellers testing if buyers are willing to pay higher prices or not. 1834SGT 11062024
Selling XAG now. Across the board XAG is on a massive discount. Reversed my initial trade of going long after my SL has been triggered while going towards the upside. 1419SGT 03062024
Major range drawn on the Hourly Time Frame. Buyers has managed to get sellers to give a massive discount, at the Major Support price level of as drawn on the Hourly Time Frame(level is obvious, look at the Hourly Time Frame). Sellers testing the water at raising prices bit by bit. Would the buyers bite? I am not sure. I bought in based on the signs of buyers...
Realising my folly from my previous trade, I recognised my faults. Recap - 1st - I traded with the Higher Time Frame and Entry Time Frame Trends, but I am actually entering on a opposing trend against the Lower Time Frame, and that is why the price never move in my intended direction after hours. The opposing trend movement is also a sign that price is tanking,...
Long NATGASUSD OANDA when discount was offered between 10EMA and 20EMA.
Bought as I recognised the strong moving trend of CH20CHF trending on the 6EMA discounted price zone. Despite multiple small "sellers" selling, price continued to trend upwards, and strongly. Currently the buyers want the CH20CHF, so I bought some too, in hopes of selling to the next Big Boy Buyer. Both TP at 1R. It isn't exactly 1R for me in terms of...
Rising demand for HK33HKD over several days on the Daily Time Frame based on the 6EMA. I bought HK33HKD on both my FTMO 10K Challenge Phase One and on my Oanda Main Account. Discount offered by seller at 6EMA on 4H Time Frame. Initial SL set is wide, because I want to give myself more time if I am losing, to decide if I want to exit for a small loss or win...
Looking forward to entering Long on BCOUSD after NFP today. Am not too eager to enter, if it happens, its good. If it doesn't happen, I am fine too, since today is Friday, and I have to hold my positions over the weekends. I am used to holding trades over the weekends, however I prefer the weekdays. Therefore, when Mondays roll around, I thank God its...