Fibonacci Trading And Price Action
This is the reason why I entered a buy order at this price range.
- I don't know how much your account is, so I'll take the example of a small account.
- I have two options for entering a trade on any product or market, that is, you enter the trade, how much will you lose if this order loses and if you win, how much can you expect to gain? much.
Assumptions:
- A . chance of winning 80% get 20 USD
- B. chance to get 20 USD with 10%-20% win rate.
According to you, will you choose A or B ?
Sometimes I find that a lot of traders, and even seasoned traders, make this basic mistake.
- To avoid these basic errors, we often analyze and compare economic news to avoid these errors. As for me personally, I use the Fibonacci trading method to find important support and resistance levels to find entry points, stop loss points and profit taking expectations.
- In a trade, you must always set your stop loss at a reasonable point that is appropriate to your account volume. I will share this issue with you in another topic about capital management in trading.
- I don't know how much your account is, so I'll take the example of a small account.
- I have two options for entering a trade on any product or market, that is, you enter the trade, how much will you lose if this order loses and if you win, how much can you expect to gain? much.
Assumptions:
- A . chance of winning 80% get 20 USD
- B. chance to get 20 USD with 10%-20% win rate.
According to you, will you choose A or B ?
Sometimes I find that a lot of traders, and even seasoned traders, make this basic mistake.
- To avoid these basic errors, we often analyze and compare economic news to avoid these errors. As for me personally, I use the Fibonacci trading method to find important support and resistance levels to find entry points, stop loss points and profit taking expectations.
- In a trade, you must always set your stop loss at a reasonable point that is appropriate to your account volume. I will share this issue with you in another topic about capital management in trading.
Comment:
You also understand the strength of what happens when a resistance price on the weekly frame holds, right??
Comment:
On the day of the non-farm news, the price held firmly to the established trend. The price did not dare to go near this resistance area.
Comment:
Nothing is impossible, but there are things that are obvious.
Comment:
I set up a price cluster on EURUSD on the long term chart, there's something quite interesting and it's confirmed on the DXY chart quite clearly. Only the stubborn USDJPY from a few big sharks has yet to realize this. I really don't want to ruin whatever someone else is doing and investing in. Providing information prematurely will not be good for a lot of people. Sorry for not being able to provide you with information at this time, I've been wondering about this since yesterday. I'm sorry.
Comment:
Sometimes money isn't everything.
Comment:
USDJPY shark is really too stiff. Very confident waiting for JPY PMI tomorrow. Ignore the movement of DXY. I find it really disproportionate in terms of forex exchange. When mismatched, it will lead to divergence.