Stop loss 0.9892
Target 0.9792
Intradayforexacademy
Blog is about Forex Trading for beginners. . Build forex trading strategies and make a living with Forex Trading.supply and demand price action, supply and demand zones, Price Action Techniques & learn to trade like banks and institutions
There has been a dialema of techical analysis when it comes to forex trading to predict future prices of a currency, futures or commodities. But how does it help us in an extent to entry & exit and all we can rely on Few techical aspects like fibos, trendlines, Indicators and support and resistance.
But what about few market conditions that drives the market & risk which always hovers when it comes to live market conditions. We still have 50% of the chance that market will react in the same manner on what we expect it to do. Then, why we need to stick around charts for hours and apply hundred of technical strategies to look for outcomes.
What I personally do is to pick my hours of trading & rely on reactions of previous sessions & work on risk rewards may be two times of the risk. Interesting fact is this that still I have 50% chance of trade going my way. Si, if I pick 3-4 pairs a day & try to apply money management skills there is a good chance thatbI end up with profits everyday & that is why I start backtesting of trading few days ago for next two months and seriously it is rewarding
-If you like to take the benefit of all my trades in a real time, then stay tuned in the blog or for real time entries to your email open an account with CMStrader & post your emails address in the comment section and not only I'll train you to become full time trader by guiding you to where to look for price action but also provide you complete support for next three months.
What I am about to discuss is the most important part of trading which is known as hedging. Hedging can be of two types. One is hedge the lossing pair with double lot or hedge the correlated pair in the oppposite direction and if you do it for long term investment purpose then it is the biggest threat to your account capital as it put all your account equity at risk if one of the position will be driven by risk.
Hedging don't work in long term position trading as you can see a pair in full flow take time to reverse and other correlated pair might reverse at pace leaving you to start showing fear & mistakes will start showing on your account equity. Same can be said about recent trends in Aussie & Loonie. These two pairs trend almost oppositely since decades but recent reversals in canadian dollar is way to sharp Australian dollar is in long term consolidation perhaps investors or banks taking a breather for big moves.
Loonie or candian dollar post a multi year high around 1.4750 area, and fallen to the low of 1.1950 area, but Aussie has not recovered from the lows of 0.6500 area leaving hedge fund too start looking to move other currencies like Euro & Yen or perhaps inject some cash in Bitcoins.