Fundamentals plus sentiment plus order levels rationale
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Thread: Fundamentals plus sentiment plus order levels rationale

  1. #1
    I'm trying to adhere to No Brainer Trades thread egy, that can be logical and down-to-earth for me. I tried many different approaches and not one of those profitable in the long run.

    Trading 0.01 - 0.02 lots to have real money at stake and not virtual money. When I'll achieve consistent profits, I'll begin to use bigger amount of lots.

    Overview of No Brainer Trades is attached. Copyright by Billy Ray Valentine Ironman Attachment 1990085

    Normally only limit orders used. 1hr/1d/1w timeframes for placing S/R and then 15m for price action close to the S/R to choose if large money orders are still there.

    Normally only majors gold. Synthetic crosses/minors for retail Currency Market traders are not traded by fat s, and so S/R amounts there aren't dependable.
    Source: Page 4 of the Currency Market hub report attached.

    Squawk reside news service is essential to gauge the sentiment. Sentiment may change in a flash.

    Legend:
    1. Red = daily support/resistance
    2. Magenta = a week S/R
    3. Orange = hourly S/R

    Fibo only daily if very obvious. Trendlines only daily if evident.
    S/R are original and fibo trendlines are only auxiliaries.

    Best if there is some fresh story in the market I trade then I follow long or brief using SR.. For instance I'll play pullbacks to the SR in the direction of the sentiment for this particular day until something else will come up.

    Issues I have as a trader:

    1. Over-trading by entering trades on impulse (chasing movements). I have to manage the intuitive mind.
    2. Taking profits too early or exiting positions that go little against me. Doing a break when standing is nicely behind the half of TP and SL moved to BE will mend it on the beginning. Normally when I leave the situation without tinkering with it, TP will be reached by it.
    https://www.forexforum.co.za/attachm...1150995299.pdf

  2. #2

  3. #3
    Now 19.7.2016

    1. GBP USD brief. Nothing favorable for the UK. Good news cannot quit pound falling like yesterday hawkish remarks by central banker. Now's CPI will also tell this market reacts to possible positive news.



    2. AUD USD brief, bounce from support. Minutes released hinting at August rate cut.



    2. USD TRY brief. Looks like lira is being bought. Markets shrugged off its consequences and coup.


  4. #4
    Limit orders:

    USD JPY in range. I will attempt to pick up long out of service:
    Market expecting Abe to enlarge QE.


  5. #5
    Bailed from USD TRY. Seems like USD is powerful in London session and resistance can be taken out. Furthermore after the coup, central bank can cut into rates today.

    Closed AUD USD with profit near 50 Fibo. ADR is too extended. We'll wait to get rebound up to enter.

  6. #6
    Sell limit EURUSD from resistance in range. EU and UK markets are uncertain after Brexit.


  7. #7
    AUD USD sell limit from .7530

    Negative opinion continues and will probably continue into US session


  8. #8
    Positive CPI (but pre-Brexit) didn't push pound high, so everybody is considering selling cable. Entered near S/R and will depart close daily aid.


  9. #9

  10. #10
    There have been big orders behind this resistance. News on explosions in Ankara attracted price there. Typically trades are the ones that are best.



    Now it turns out that it was just a fire in residential area. Where it came out USD TRY will fall.

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