As we see on the chart, the pair is going to retest a very interesting confluence area - a bearish trend on daily and H4, mirror level broken and soon will be retested, bearish trendline with many touches, and also a possible break and retest of a bullish counter trendline. Also, we have a clear impulse and nice correction to the mirror level.
Risk Management is...
Let’s also talk about another so very important, and often undervalued part of risk management. Risk management really does help me to stay emotionally stable during trading. Just think about it: If I place a trade with a 30% risk and I lose it, it will hurt so much, and it will allow my negative sides, my revenge nature to come out and start dominating. I will be...
EURUSD is making new HH and HL on H4, already broken, retested, and initially rejected 1.1775 support. As we see from the chart, this area played a significant support role in the past.
Confluence is support, trendline, Daily uptrend, clear bullish impulse on H4, followed by a correction to 0.618.
On a weekly EURJPY is moving inside this descending channel, currently rejecting its upper border.
On H4 market broke consolidation area and now is retesting it.
This level was playing a big role in the past, as seen from the weekly chart.
This is round level of 125.00
EURNOK broke above the H4 horizontal resistance area, and produced a nice impulse. Now, after retracing back, the price is breaking above a bearish trendline.
The pair is showing new HH and HL on H4. Once the price breaks above the last area of resistance, which is marked up on the chart, it's possible to long on a retest.
Risk Management is the #1 rule, you...
3. If you flip an account, like you want, how long would it take to blow it again?
Let’s imagine you have a small account like $2000-$3000. What do you want from it? Most likely, you would like to live from it, so depending of a country you live in you’ll need somewhat between $600 to $2000 a month for a decent living, right?
In this scenario, you’ll need to...
We all hear from everywhere about risk management. They all say the same: “It’s important, it will help you to protect your capital, etc., etc.” But today I wanted to talk to myself about risk management in more detail. And I’m sure I will have a much better understanding of practical risk management in forex after this - I will talk through its...
IF EU will brake this important resistance + downtrend line zone, we will have it all turned support. We will have a new uptrend line as additional confluence and will be able to look for a buy for a 2R possible trade.
Risk Management is the #1 rule, you can't control the market, but you can control your risk management. Stay calm and risk 1%.
USDCAD is in an H4 downtrend, recently broke, and retested important mirror level 1.3400
When this counter-trendline is broken, I will look to short for a 3R trade.
Please remember, Risk Management is the #1 rule, you can't control the market, but you can control your risk management. Stay calm and risk 1%.
USDSGD is in a downtrend on H4, breaking and retesting clear levels. There are two levels marked up - the upper is important mirror level that the price already retested and rejected with a double top, and entry level, which is secondary level of resistance and also the neckline of M formation (double top).
The price is in a clear H1 trend, recently broke and retested, and rejected previous resistance - now support. I expect one more push to the downside to grab liquidity and then continuation to the upside.
AUDUSD is showing uptrend on daily, currently retesting important support. On H4 this pair already showed double bottom. One more confuence is bullish COT data for AUD. Placing a buy limit, expecting slight push to the downside and then up to test marked levels of resistance.
CHFJPY is showing LL and LH on H4, recently broke important level, which acted both as resistance, support, and now we can expect it to act like resistance again. If the price will show signs of weakness during possible retest, then chances are we can see one more bearish push.
The price formed H1 downtrend, market is breaking and retesting clear levels of support, turning it into possible resistance levels. Setting a sell limit here, with a SL protected by secondary structure. All marked up on the chart.