Currently Im updating my new blogsite which I can do what ever I want with it. I can fully customise it.
If you all want to read further on my trade setup. Please go to http://blog.warithu.com
It has been a while now I have not been back in the FX saddle. I have been busy with updating information and material into the new group website. I still have problems with video uploads. At the same time I am managing my new Online store for Hobbyist enthusiast like my self. Nothing related with Fx but I just want to share it , it is at www.wntshop.com
Ok let’s get back down to business. As usual my favourite major is the EURUSD. So I am going to analyse what EURUSD been doing during my absence.
Looking at Higher time frame WEEKLY , where are we in perspective.
What do you all see ?
EURUSD been creeping higher on a bullish tone whilst ECB warns on EUR rally will not sustain long. That’s a clue that we are nearing supply.
But I am not sure about that as a proper supply up there at 1.42 ish. Let see if I can establish a trend on a lower time frame to see what should I do first thing on Monday.
Noticing that a impulsive vs corrective move previous week. 5 bull candle impulsive. The Trend is still Bullish scenario, I want to see if any reaction to that support area 1.3825 horizontal line will give me a clue to enter BUY or to exit short term sell around those price level.
Most of the price has been rallying efficiently. There is not even a single demand level seen here at all. Most of the orders are filled.
Lets play along intraday Monday tomorrow. See how it can sustain.
So far we are not even near to a larger time frame supply so we can either trade this either way. Strength is quite significant for an intraday, so that drop I would judge it as 2. Period at which price stayed there, a 1 . Profit margin is more than 3 times the risk so thats a 2. Whilst we are not near into any larger time frame level , so thats a 0.
Retracement, first visit and still fresh, a 2. Arrival has been efficient, providing room and profit margin for a least path resistance. so any strong move open on Monday , I am selling this for a confirmation price action. Since the total score is 8 , I am looking into a smaller tf to enter a trade.
I might go as far as the 15 min and 30 min Time frame. I would look for a Pin bar or an Engulfing . If none shown then I am not taking the trade.
Will this trade work ? I don’t know, but what I do know I believe there is a high probability potential supply there where sellers might be sitting. I will consistently apply my Money management rule and plan the trade to exit at 1.3825 for a short term trade.
Why exit early ? Daily chart has told me it is bullish bias. So I am counter trending it on a small time scale and suck those micro trade move money.
We will see how it happens tomorrow and I will discuss this with my group members in the trading group.
Have a great weekend and Happy hunting!!
Happy new year all. We are now in January. The start of some new Fresh beginning on some of you and also the start of the same old routine on a few of you. I also began a new fresh beginning on the group. I am trying to make it a new face lift on the new group page so I can collaborate more and at the same time post fresh new live feed charts and more on better presentation of learning material.
Now I know some of you just join the group, you will be given new direction to the new page soon once it is completed. I am trying to improve the way teaching and guiding traders to be more consistent in their progress of learning , trading and earning.
If you all can just drop a comment of reply so I can add a few ideas to the learning page, group page in order to improve more and help traders on their feet to be more discipline in mindset and , master in their risk management.
All ideas welcome. !!
The WordPress.com stats helper monkeys prepared a 2013 annual report for this blog.
Here’s an excerpt:
The concert hall at the Sydney Opera House holds 2,700 people. This blog was viewed about 15,000 times in 2013. If it were a concert at Sydney Opera House, it would take about 6 sold-out performances for that many people to see it.
THANK YOU ALL for making this happen!! Happy new year to all my fans!!
Good day all and happy holiday.
Since today is my birthday I will be reducing the price up to 70% discount on joining our membership traders. It iwll reduce untill New’s 1 January 2014. After that I will raise it back to the original price $350.
Click here to join. I hope you had a great year of trading . If some of you had a bad year of trading. Make it next year as a new resolution not to repeat the same mistake. Learn to trade properly from real traders. Learn how to practice properly. Learn to master risk management and your psychology.
Let’s start the new year fresh and be positive on any outcome. Instead Learn to overcome what makes you a better trader.