Goldmine!

[FX4Newbies]

Seems like my answers were adequate. From what you have stated you have grasped some good basics from just wading through . No problem with the use of the word...though it does give the impression of having to plough thorugh... Thanks for being sensitive to how it might have come across.

Regarding horizontal S/R lines...many times they come very close to where price intersects with the PF tines.

Take care,

Hi Newbies
thanks for replying to my questions. I can see that each new swing will generate its own reaction;
I can see that PF generate trend lines and targets - but not sure how well they cope with normal horizontal SR, which in my experience is usually at least as important as trend lines. I'll follow your posts for a while and see how price respects the PF you have drawn
Sorry about "waded"; that sounds rude on re reading - not meant to be
thanks

 

[FX4Newbies]

Market Is Waking Up

Hello Traders,

The market is finally beginning to show some swings. Will prepare to look for trades in the London Session.

Take care,

 

[FX4Newbies]

Can Price Break Above?

Hello again,

Missed a nice long entry around 1.2486. If price can break above the 1.2562 area, we might get to the target.

I wish you all good trading.

 

[FX4Newbies]

A Quick Long Trade

Got in with a long...a bit late at 1.2575. Hope it pushes to ML...took a few pips and got out...price battling a bit. If it fails to make ML, we know what to do right? Start hunting for a short.

Good trading to you this week.

 

[FX4Newbies]

US Session July 6th

Market is talking...sell off was not too great. Thinking there may be a push further north.

If price finds support around 1.2563, that may be the launch area for a move up. Also, remember shorting here is a counter-trend move as price has not confirmed that the uptrend is over.

Let the market continue to talk.

 

[FX4Newbies]

Just went long at 1.2591...almost missed it, had to look for a secondary entry.

 

[FX4Newbies]

Let Us Know

A trader asked if I would let them know the outcome of this trade on EurUsd. Below was my reply:

Of course. That is what it is all about...the good, bad and the ugly . Not thrilled at the moment, was encountering lots of resistance overhead. Wanted to exit at 5.00 profit, but thought I would hold...give the market a chance. However, news is coming in 15 minutes. Not liking this..I see a bearish sentiment on the 4Hr and bullish sentiment on the 1-Hr.

 

[FX4Newbies]

Here Is The Outcome: Price Target Hit!!!

Hello again,

I held on...just looking at my tools etc. not the price. Another reason was that the whales showed up. Also notice price came back to test support around 1.2563 like I mentioned in an earlier post. Normally I do not hold through news (unless I was already in a position trade), but I saw enough. I would have preferred a more prime entry (like 1.2568 given when I entered) or to exit with my $5.00 profit earlier and chill. Sometimes, these things happen.

Anyway, I exited at 1.2611 with about a 20-pip profit. More was available, but I needed to move on. ML targets hit!!! Now I need some breakfast .

Take care,

FX4Newbies

 

[FX4Newbies]

London Session: July 7th

Hello Traders,

I was not able to post earlier as there were some technical difficulties with my internet connection.

Attached is my chart catching up to price action. Will see what happens next.

Take care,

 

[FX4Newbies]

Added A What If Fork

Hello again,

Just sizing up what could be a turn. Drew in a blue What If fork...just to see how the market would respond...thinking out loud with a fork.

Be careful here.

 

[FX4Newbies]

The Deciding Moment

Notice the slight adjustment in Pivot 3 of my blue fork revealing possible whale behavior. Critical point in time as price could drop lower or turn upward. Price is right on the line here.

Be very watchful!

 

[FX4Newbies]

For those watching the market now, can you feel the tension as price tries to go higher with the red ML so close? I know if you have an open trade and watching, you probably do. I am flat at the moment so I can stay as objective as possible for as long as possible.

 

[FX4Newbies]

Hope some of you were able to make a profit going long on EurUsd. I was able to make a quick trade in between computer challenges...a few more pips .

 

[FX4Newbies]

After The Move

Chart update: price found resistance at red U-MLH. Confirm your entries if you plan to trade again soon.

 

[FX4Newbies]

Asian Session: July 7th

Just posting an update...price found support again on blue L-MLH and pushed up. Will watch to see how it plays out in preparation for the London Session.

 

[FX4Newbies]

Going North Again?

Here is where price is in relation to our earlier forks. Confirm your entries...resistance from blue fork overhead.

Be careful.

 

[FX4Newbies]

Talk About A Cliff Hanger

Just being watchful...as price wars, it will eventually give a clear entry. Tempted to short it but not convinced. So I must keep my mind open, until I see something that I recognize as a clear indication. Confusion in the market (mixed signals) is a condition to avoid like the plague, unless you like the action and are scalping .

Take care,

FX4Newbies

P.S. Think I need to let time give me another candle...only about 5 minutes to wait anyway (now 8:55 am EST).

 

[FX4Newbies]

Make Or Break Point

One of those touch and go moments. Trading smaller time-frames would grab some pips.

 

[FX4Newbies]

Will take a look at the market again in preparation for the London Session.

 

[FX4Newbies]

London Session: Trade What You See

Good Morning Traders,

It is Friday! Attached is a chart showing two forks that caught price nicely.
Don't worry about where price might turn. Just trade what you see as it shows it. It will sort itself out. Roll with it.

Happy Trading,