It has been quite a slow moving as we just had extended weekend with USD holiday on Monday. Things will turn quite soon as we are approaching for FMOC meet late Wednesday night. No matter what the outlook would be, I would be doing what I've been doing since years & trade Charts only rather than looking for things I can't control.
I have spotted few opportunities past week but here I'm posting you the best of the setups. Things you need to look in the chart is that price tried to protect an area for few sessions and try to rally which is market as support market with blue rectangle. When price rally to supply (which will hold the price downwards), and next blue Rectangle in between has act as resistance, where first attempt ( mark as middle blue rectangle), was failed. Now I expect price to move downward towards the next support which is 139.80. So, Trade setup with stops and target is mentioned below
You all very well aware why this blog was setup i.e to help you understand the market structure and who is dominating the market. Sellers & buyers activity can be tracked on chart and that is without Indicators, Trendlines, Fibonacci or any other mechanical System. I've post couple of crude oil future chart & will soon make a video & post it below description & will guide you how you can trade like pros without putting heavy stops and incurring heavy losses if trade goes wrong.
To help you understand better, hereby I'm uploading a crude oil chart & example of the trade I took yesterday & it fetch me nice 10 time rewards with only 20 pips stops.
I have update you with all the trades I took in the last few weeks and they are really going well and I've almost double my accout in 40 days. You all might have tried so many strategies and would be looking to know the reason behind my success and what strategies I'm using. I won't waste your precious time and would like to tell you that it is not possible to copy trades and learn and have same success that others are having. You need to practice risk management yourself and spend few months of demo and there are results that will shock everyone of you. That tells the truth you that every strategies gives you results whether you are trading 200 Ema, 14 EMA or 4 Ema or any indicator like RSI, MACD, Parabolic SAR .
Main reason behind success and failure in trading is greed and patience. If you patiently work with a strategy and pick couple of pairs then I would try to tell you one strategy that gives you results and that is trading 200 EMA & 14 EMA cross over trading strategy.
Pick the economic calendar and keep an eye on expected news and if there is high impact news that is due to be release, then wait till the release & get ready afterwards with the signal . All the three EMA 200, 14 & 4 EMA should be above the daily Pivot or below the daily pivot indicator.
Signal should be taken when all the three EMA's move in one direction and Crossover happens to be strong & trade is taken when price test the 14 EMA & EMA 4 should remain below or above the last 4 candles when signal is released. Stop should be support 1st or 40 pips whichever is closer & look to cover at 20 pips. By Covering, I means position should be trailed when the price reached 20 pips or cross 1st Resistance or Support. If a trade is plus 20 and a resistance or support is lying ahead and 4 candles did not manage to cross that area, then you need to close the trade. By trading this way, you won't miss any continuation of trade or start of a trend.
I have provided some excellent trading opportunities last week with good pips and good thing was that it was properly managed . I never risk more than 3 percent of account activity & target is always 2 to 3 times of the risk. Best thing about my trading is that I like to gbp crosses because they usually trend & I to check I would recommend you to go through variious blog posts to check how many times I've posted exact signals of various Gbp Crosses . It is very important to target trending pairs & gbp/aud , gbp/nzd & gbp/jpy are never far away from volitility & that is why I prefer to trade these crosses.
Trading does not only mean getting profit but also you need to be perfect in taking trades as timing and risk management can trun huge losses to minor & little profit to maximize it. I would like to have your thoughts on the trade and in case you have any such query make sure you write them in comment section & In the next few days I would share the simple price action tehniques which will help you avoid sideways trending markets & make maximum of when it trending.
