dominicdrock

04:59

dominicdrock

For effective trading, identifying key areas of support and resistance is crucial as these levels act as barriers within market trends, affecting asset prices. Support and resistance levels are not just arbitrary points but are derived from previous price history where a price halted and changed direction.

17:10

dominicdrock

Support Support is the price level at which demand is thought to be strong enough to prevent the price from declining further. The logic dictates that as the price declines towards support and gets cheaper, buyers become more inclined to buy, while sellers become less inclined to sell. Identically, when the price reaches these support levels, it tends to rise...

09:50

dominicdrock

Trading with the trend is one of the most reliable strategies to maximize your profits while minimizing risk. The trend represents the general direction the market is moving—whether up (bullish) or down (bearish). By identifying and following the trend, you can enter trades with higher probabilities of success Don't rush into a trade. Wait for the trend to be...

14:23

dominicdrock

The new plan is working well so far, and I'll continue testing it throughout the week. I'll provide an update on how everything turns out. I'm really liking it so far; it may seem busy at first glance, but it's actually quite easy to read and follow once you get used to it. Just requires a bit of patience. Talk to you all later!

11:57

dominicdrock

Take your time throughout the week and don't feel pressured to trade every day. In fact, the less you trade, the fewer chances there are to lose. It's all a matter of probability in the end.

13:59

dominicdrock

In summary, waiting for the candle to close generally offers more reliable signals, but in fast-moving markets or short-term trading, you might need to act before the close.

19:32

dominicdrock

Remember that no single indicator can guarantee success in forex trading. It's essential to understand how each indicator works and to use them in conjunction with other analysis tools and your trading strategy. Additionally, always consider risk management principles and market conditions when making trading decisions.

05:06

dominicdrock

Outline your trading goals, risk tolerance, and preferred trading style (e.g., day trading, swing trading, or long-term investing). Having a clear plan can help you stay disciplined and focused.

17:48

dominicdrock

Before diving into forex trading, make sure you understand the basics of how the forex market works, including factors that influence currency prices, different trading strategies, and risk management techniques.

18:56

dominicdrock

Discovering the EMA Trend Meter has already started to reshape my trading outlook. The initial results from incorporating this indicator into my strategy have been promising, showing a noticeable improvement in trade accuracy and profitability. As I continue to refine my use of the EMA Trend Meter, I anticipate it will play a crucial role in my journey towards...

19:41

dominicdrock

The trend is your friend why trade any other way we must stop allowing other internet gurus to convince us that goin with the trend is a mistake.

00:00

dominicdrock

Look for a series of higher highs and higher lows on the price chart. Enter a long (buy) trade when the price makes a pullback to a higher low, anticipating that the uptrend will continue. Place a stop-loss order below the most recent higher low to manage risk. Take profit when the price makes a new higher high. Downtrend Trading: Look for a series of lower highs...

00:00

dominicdrock

Look for a series of higher highs and higher lows on the price chart. Enter a long (buy) trade when the price makes a pullback to a higher low, anticipating that the uptrend will continue. Place a stop-loss order below the most recent higher low to manage risk. Take profit when the price makes a new higher high. Downtrend Trading: Look for a series of lower highs...

00:00

dominicdrock

Day trading using moving averages can be an effective strategy for identifying trends and potential entry/exit points in the market. Here's a four-step system for day trading using moving averages:

12:18

dominicdrock

Instead of attempting to capture every market fluctuation, our strategy centers around identifying and following the prevailing trend. As retail traders without control over volume, patience becomes crucial as we await opportune entry points.

00:00

dominicdrock

How's everybody's trading going ? take a quick look at this set up to see if this could help out your trading . Talk with you soon

00:00

dominicdrock

Achieving a successful entry in forex trading hinges on your ability to comprehend the structural elements at play. Start by gaining a clear understanding of the market's current structural dynamics. Next, it's essential to analyze the candlestick formations to determine which party is likely to control the market. Often, traders tend to overemphasize patterns and...

00:00

dominicdrock

Waiting for the right moment to enter a trade in the forex market, especially when considering a move up to the next resistance level, is a critical aspect of successful trading. In the world of forex, patience and timing are essential, and understanding how to approach a potential resistance level is crucial for making informed decisions. Here's a guide on this strategy: