an Example of how i use Forex knowledge to help my import trade
Hi Traders,
Today i want to share about how forex can help my judgement to buy some USD for my export import business payment.
I import commodity from european and from australia with USD as payment term. so hope this chart can become an example if you in the same situation as i am. this chart is my prediction and help me to make decision where i should buy some USD using pattern, wave, fib, trend and resistance analysis.
Just a quick explanation why i'm using those analysis. it's just because those 5 will give you intrepretation of human behavior towards demand and supply just by watching chart movement.
- I know that with huge power of the 3rd wave 80-90% chance that they will still making wave 5.
1. so the first place i will buy is at the 1st blue arrow at the 4th wave. always remember as and investor and as a trader, a good place to enter is at correction.
I buy in this area because it is at fib 3.82, and it is also near support resistance area. so i decide to buy USD in this area. hopefully to be able to make payment to my supplier until the 5th wave is finished. it sometimes i have lack of usd before it finished but i already made good amount of profit out of it rather i do nothing.
2. i will buy at the second blue arrow, after the 5th wave, most of the time, they will make correction or reversal. so the good time to buy is at the ressistance. because most of the time the price will be hold there for a few moment.
So this is my analysis, if this goes according to my plan i will receive more profit than it should be.
this is just an prediction, the price and picture will not 100% the same like my prediction. sometimes in the middle of the journey i need to re adjust my entry and exit point.
Good Luck and Have a good day ^^
Today i want to share about how forex can help my judgement to buy some USD for my export import business payment.
I import commodity from european and from australia with USD as payment term. so hope this chart can become an example if you in the same situation as i am. this chart is my prediction and help me to make decision where i should buy some USD using pattern, wave, fib, trend and resistance analysis.
Just a quick explanation why i'm using those analysis. it's just because those 5 will give you intrepretation of human behavior towards demand and supply just by watching chart movement.
- I know that with huge power of the 3rd wave 80-90% chance that they will still making wave 5.
1. so the first place i will buy is at the 1st blue arrow at the 4th wave. always remember as and investor and as a trader, a good place to enter is at correction.
I buy in this area because it is at fib 3.82, and it is also near support resistance area. so i decide to buy USD in this area. hopefully to be able to make payment to my supplier until the 5th wave is finished. it sometimes i have lack of usd before it finished but i already made good amount of profit out of it rather i do nothing.
2. i will buy at the second blue arrow, after the 5th wave, most of the time, they will make correction or reversal. so the good time to buy is at the ressistance. because most of the time the price will be hold there for a few moment.
So this is my analysis, if this goes according to my plan i will receive more profit than it should be.
this is just an prediction, the price and picture will not 100% the same like my prediction. sometimes in the middle of the journey i need to re adjust my entry and exit point.
Good Luck and Have a good day ^^