i hope people do not take it as live calls it never occurred to me that it would be taken as such...thanks for the heads up
Trading Forex
- Thread starter padutrader
- Start date
i have always appreciated the attention of all members.....it is an unbiased, outside view and i do not have to keep a mirror in front of me or analyse myself.
hope you continue what you have been doing.
"...will try to make this journal, unlike any other and not just a record of trades made and posted in live time but also to give some rational of why the trades were made.."
The "live time" thingy is what caught my eye. Probably just a language/semantic deal, which happens, sure. Anyways, good journey in your journal, sir.
sounds like what school and college were like....anything is ok if the development learning is ongoing
A slightly longer term view on eurusd: bull trap
what will happen, almost certainly, imo
the market broke two trendlines drawn on chart below, with high momentum, so a retest of both trend lines is very likely.
also that bar marked with yellow arrow will also be tested and broken.
the shorter trend line is shallower than the first and expect market to try to reach that.
the higher low marked with a black arrow is a bull trap and will surely break.
expect the market to do a lot more work before it reverses the large down move which has the shape of wedge but is not a wedge because it is too tight a channel. channel drawn in red.
expect at least two more lows, below the bar marked with red arrow, with not difference between them, which if it does happen, may form a wedge which will reverse the move made in the channel.
what will happen, almost certainly, imo
the market broke two trendlines drawn on chart below, with high momentum, so a retest of both trend lines is very likely.
also that bar marked with yellow arrow will also be tested and broken.
the shorter trend line is shallower than the first and expect market to try to reach that.
the higher low marked with a black arrow is a bull trap and will surely break.
expect the market to do a lot more work before it reverses the large down move which has the shape of wedge but is not a wedge because it is too tight a channel. channel drawn in red.
expect at least two more lows, below the bar marked with red arrow, with not difference between them, which if it does happen, may form a wedge which will reverse the move made in the channel.
closed trade....after screen shot taken...the bulls may have been woken up because of the commotion done by the bears....
To me it is dead, totally dead and harmless.
as mentioned, we trade differently, we see things differently.
I am very glad to read this. Would you like to tell me on which currency we have to invest because I also want to start but due to the lack of knowledge I am not trying. You have experience and if you will help me by telling it will be easy for me. Thanks