Hello all - DuncanForex here with another trade idea
Last night - a higher low was printed on the 1 hour chart- which based on the 7am BST bullish pin bar candle will now start to cycle higher again.
Along with USDJPY to head far lower, with the retracement trendline break out, I do expect GOLD to get up to the 1450 area in the coming week
This move will be...
Hello all - DuncanForex here with another trade idea
FOllowing the daily short trade I took last week, I am now entering on the 1hr chart on a pullback.
Dynamic trend line providing resistance - I expect this to now drop a lot lower.
Trade safe as this idea, along with all my others recently are all USD correlated.
Thanks for looking at my trade idea
Duncan
Trade Identification
How many times have you "Missed" a trade. Once traders have a trading plan, they spend their time looking for set-ups. I would urge to take the next step which is Trade identification. I am not talking about clicking on a chart and seeing if your set-up is there. You want to be able to look and a chart and project what it can do and...
BACK TESTING CONT.:
Picking up from my last Educational post, Segment A...
Pip Potential (PP) is a key component for me as it allows me to statistically determine how far a trade will run. In all my trades, I want, at the very least, a 3-1 risk to reward ratio (RRR). Basically I want to make $3 for every $1 I risk. Please understand and, this is very important...
BACK TESTING:
Some traders find it helpful other do not.
Back-testing is, imho, the most critical part of trading
Back-testing the proper way, although arduous, provides incredibly valuable data. It is the Ditch digging of trading but well worth it.
I have come to embrace back testing and reviewing my trades religiously and in this day and age of automation,...
Good morning traders.
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