7 Forex Trading Signals For Jan 23-27 2017
Now that the hoopla in D.C. wound down with the presidential change on Friday, let’s see how the markets respond.
A quick recap on some developments:
AUDNZD – Broke the up trendline and simply started to consolidate.
AUDUSD – Never gave us the pullback, but I did indicate the break of highs had targets to the upside. Going into the week, price had not yet ranged and when you see price consolidating just under a resistance (over support) that’s a price action sign of upside (downside) potential coiling up. Price rallied to just 12 pips shy of the first target.
CADJPY – Called for a downside breakout and after bringing in the bulls, they were wiped out with the downside drop. Still waiting on first target. Astute price action traders would have seen the lack of commitment on the upside break and there were several ways to enter this market.
EURUSD – Broke to the upside fizzling out any down side play but not much conviction in the move. No interest in this pair at the moment.
GBPJPY – Broke support and found support at the level I mentioned before firing back to the upside.
NZDCHF – Weakness as mentioned at the resistance level continues.
NZDUSD – Upside play as mentioned has occurred and price rallied to within 15 pips of first target.
Do you STILL need proof that simple trading concepts can lead to profits?? I hope not.
Make sure you review the price action trading course material often as repetition is vital to becoming proficient.
In addition to new trading signals, keep your eye on the previous week trading setups that didn’t get much traction.
AUDCAD DAILY CHART – SHOWN ON 4 HOUR CHART
CADJPY DAILY CHART
GBPJPY DAILY CHART
GBPUSD DAILY CHART
NZDJPY WEEKLY CHART – LONG TERM POTENTIAL
USDCAD DAILY CHART
USDJPY DAILY CHART
I know some people wonder if I take any of the trades that are listed. Here are two of the trades from this update that I am in. GBPUSD long and AUDCAD short. I hold a position short in the USDCAD which has been in play since last year which is not relevant to the updates. I will be taking partial profits in AUDCAD today.
Thanks for all the help you have been putting out there to help us. It’s appreciated. I’d like to ask if you have any course or video that details how you analyze the daily chat from start to finish. How you apply your trend lines, resistance and support and know what the market is doing… if it’s trending, pull back or just consolidating ?… Also, on how you can predict what the market will do. Any video or course on this questions will be of great help.
Thanks for the words! It does take a lot of time but I enjoy doing it.
I don’t have a course or video on how I approach each chart. Years of experience really. I don’t really predict although you’ve seen on the charts that there are times price will do exactly as I have written on the chart. Then there are times it will do the exact opposite. But here is the thing….BOTH are events that can be traded.
Thank you for accepting me on your program. I hope to benefit a lot.
i’ve already enter my email but your picture of signal is blur..i cant see it
Try clearing your browser cache and start over.
What a great educational signals you are posting!!
Just a question please; how did you come up with CADJPY target price of 90.60
It was a zone of previous resistance back in October 2015. Round it to 91.00 for easy of use.
Your signals are blocked every week now
They are blocked until you enter an email address. If cookies on your computer and your browser are in order, you shouldn’t be having an issue.
where could I find a pretrade plan set up also where can I find a sample of a trade journal traders use
Hey Andy. You are going to have to put your own trade plan together instead of piggybacking on one someone else who put in the work. You can cruise through the number of trading strategies on this website and start piecing one together. There is no shortcut. Read this: 5 Questions to ask for a trade plan. A trade journal…..here is a free trade journal you can download.
why cant i see the signals ? i have subscribed more than a thousand time
Check that you can accept cookies on your computer. Clear your browser cache. There are a few complaints but the majority of people enter their email once and that is it. That would point to an issue on your end. Thanks!
hello Shened, please help on your signals i have read the price action course and some of the price action strategies but im little confused on your signals, please help, i can see the way you analyse them but with the take profit and stop loss as well well as to buy or sell isn’t clear
How you trade them is up to you. I can’t really get into a full trading education for free through this blog. You should start with one of the strategies located on this page: http://forextradingstrategies4u.com/trade-the-price-action-forex-trading-signals/
i still have the same problem at my screen. screen still blurr. i have cleared cookies as suggested yet still the same.
Was Okey all along. Please help. thanks
i found out that both current week (1st screen – july 3-7 ) and (last 5th sreeen – june 5-7) are having this blurr screen problem. All the previous weeks are Okey. The same happen when we move to the following week later…i.e screen 1st and 5th will have the blurr screen.
kindly help to resolve….
Have you entered your email address in the box? I know some people are having issues but even when I use “private browsing”, I enter my own email address and the blur goes away right away.
why am i being asked to register again yet not being able to see the weekly chart shared. the charted portion has been blurred expecting to register with the email for the service. Even after re-register, the site still to register again and again. fyi… i have registed long ago and have been receiving weekly update without problem except the latest one this week.
appreciate your response as the email could not be used.
Thanks for the message. Seems that the login screen has become an issue. When I get back to my computer I will deal with that. In regards to the sent emails, the one for the current charts has not been sent yet.
I’m a day trader and with regards to my analysis on a day chart what would you say is more affective!?..trend line or resistance and support zone as a guideline or they both have to work in confluence?
i keep subscribing, but cannot see the signals.Still blurred out!!
Hey John. Trying clearing your browser cache or use a different one.
I love this website.
I entered my real email to access your signals, but signals remain locked.
I entered your email address and the signals became visible on my end
Hello, i just want to say firstly that you are greatly appreciated and everything you’ve done is top class.
I’ve gone through the confluence and price action article you did and was blown away. It’s been something i’ve heard a few times here and there but you took it to a whole new level and opened my eyes.
I have an example i would like to share i don;t know how i can upload a screenshot but it’s on EURUSD 1HR time frame. At 1.12014 price met a confluence zone of a fib level 0.618 and a trend line hit.
On the same pair in the 4hr time frame you can see a more juicier set up. At 1.11670 price met a confluence zone of fib level 0.618 + trend line hit and Pin bar following an engulfing pattern to confirm an eventual 100 pip move.
Please let me know how i’ve done. Im feeling very confident.
Thanks for the message! I’ve made a blog post out of your comment which you can see here: http://forextradingstrategies4u.com/trading-confluence-blog-reader/ Nice Work!
Thank you so much I feel so proud of myself and the fact you made a blog post out of it is making me blush 🙂 You are a good teacher Sir good things will happen to you !
And oh I have another example you may be fascinated in. I think you may have provided a signal for it or took a trade from the pair. It’s USDJPY on the 1hr time frame.
Trendline + Fib 61.8 + Bearish Harami = Massive drop 🙂 Please let me know if my eyes are missing anything else like support/resistance, triangle or chart pattern etc. And if you mind, is it possible you can do a a new multiple time frame analysis for a pair starting from monthly, daily and h4 etc displaying confluence again ?
You’re welcome! Glad that you send along the comment so I could make a post about it. Confluence is an important factor for trading opportunities that have a higher probability than just a knee jerk reaction!
These setups are based on what time frame since they are released for the whole week?
do they specifically for any day during the week or?
but what i wanna know is the timeframe that you use so that i can also look at them then do multi timeframe
These are daily charts but you can use a lower time frame for entry if/when there is resolution in the setup.
As with all trading setups, you never know what day they will trigger on.
Have you tested a multi-time frame strategy? Is there an edge for you? I’m not for or against multiple time frame trading but it should add to what you are doing.
I am learning a lot on this website but I still have a problem in interpreting how to place a pending order i.e. A but stop and buy limit as opposed to Sell stop and sell limit -using the above graphs .Please may you assist me on this .
A sell limit order is an order to sell above current price. You expect the market to rally and then reverse back to the downside
A sell stop order is an order to sell below current price. You expect the market to break to the downside.
For buys….just the exact opposite.
Please add me to your list for the signals as well, don’t want to miss them at all :). I am very impressed with the amount of information that you have on your site. It is very clear that a lot of hard work and dedication was in this. Keep up the good work!!!
I’m glad you like it! Hoping you are learning tons!
in terms of the free staretegies in this website, i just wanna know how do you trade them in terms of Entry, Stop Loss and Take Profit if you are a swing trader. meaning lets say you are aiming hundreds of pips,
i’m confused as well in terms of e.g “For you stop loss, place it 2-5 pips below the low of that intersecting candlestick” the issue in the highlighted sentence is “2-5 pips” is’nt it little for someone who’s a swing trader? you might be stopped quiet often.
i hope you get my question
I get your question although HOW to trade them is going to depend on you and your testing. Start with the basic instructions and then tweak according to your testing results.
In terms of the stop loss…..those are tight but it depends on the setup and the setup candlestick. There is no “perfect” stop and I can tell you that I have a huge fan of ATR stops. You can also check out this blog post on stop loss placements
can you please add me my email address is email@example.com
Check your email for confirmation. Thanks for stopping by.
Rkay and company, more life, more blessings ! You guys are the best
Glad to hear it! Thanks
I received the confirmation email but haven’t received any trade setup potentials. Is there a particular day that they get sent on or?
The setups are done during the weekend and posted by Sunday afternoon. You will receive an email around that time. You can always check to see if they are updated because sometimes the email is sent later in the weekend.
Dear could you explain to me what does the mean of ( Bold horizontal line) in chart AUD /CHF ) what you have sent this week (10 Free Forex Trading Signals For May 22 – 26 2017)
I Foresee it is stop lose am i right or no
I have read ( How to trade the price action Forex trading signals ) it is good guide how to use free trading signals .
Your stop loss will depend on what your trading entry is as well as risk management. That is simply a zone that I’d be happy with a pullback to. Doesn’t have to hit it…..just “close enough”. Then price action leads the way in what to do next.
I could not locate the confirmation button in the email you sent me. Am I missing something please enlighten me, bcos no signal was sent to my email box at the weekend.
That’s odd. It must be there somewhere. Are images showing up in your emails?
I found this site recently, and had been impressed by the price action articlles & analysis. I like to subscribe to your free forex trading weekly signals.
Thanks! Check your email.
Dear there was a post(sorry forgot name or title) on your site which was related to your personal experience feeling and like why you are not leaving Forex. You earned a lot You loss a lot, Please give me the link of that post that is really great,I remember your site because of that one and other thing is all indicators. Thank you very much.
Habibi, Habibi Thank you very much.i am really great full to you for this post. Your site is amazing but this is the best thing and second thing is price action course i studied it today, that is really great,approximately all things i know already but how i visited hundreds sites and here i found all things are together and i just revised my two years learning in two hours, again thank you. God bless on you Rkay.
No words to praise or thanks for your wonderful helping mind.You are a real mentor for all struggling traders like us….Thanks a million….
Dear Thank you very Much for your signals, Its great that you’re giving us some idea so have mindset for trading.
Glad you are getting something out of them. Always remember, if they don’t play out as written, is there a failure that you can take advantage of?
Dear can you please tell me that why market (gbpusd) on 18-04-2017 move hundreds pips even that day there was no high impact news. which is the thing that created this impact on the market. Please advise. Thank you very much.
Yes. Surprise election call: http://www.telegraph.co.uk/business/2017/04/18/pound-touches-three-week-high-against-us-dollar-ftse-100-suffers/
Dear Thank you very much.
Please add me also in your free signals services. Thank you very much.
Hi RKay please can you add me on your free signals group am willing to learn under you,send them on my email address firstname.lastname@example.org
Got you covered. Check your email for confirmation.
Today makes my second month of trading a live account, although I’ve spent at least 3 months of practice using your Price action trading course and I’m confident to say that 90% of what you’ve posted I tried it and it works. I haven’t tried others. But my question today is:
1)Should a beginner like me use leveraged trades or not? And if so, which Leverage should I use? My broker uses up to 1:500.
Good luck on your trading journey!
My overall feelings on leverage is to trade what makes you comfortable. My rule of thumb is to use as little as possible and remember to base risk on actual account….not the leveraged amount
Got it! thank you.
DO YOU HAVE ANY POSTS FOR HOW TO CHOOSE THE BEST CURRENCY PAIRS FOR TRADING.?
That an interesting question. It depends because what is best for a breakout trader may not be best for a pullback trader. You have to decide what trading style you will trade, momentum or mean reversion, and then decide what the optimal chart looks like.
Thanks a lot for your reply and explanation. I can see the light at the and of the tunnel now:)
Worded currencies = last week’s results
Charts = Current week and how you will trade these pairs.
So I assume the best way to check “before”and “after” is to go to previous week’s signals and compare with your comments and what actually happened after one week. Maybe is would be simpler if that was shown on one chart, it would be visually clearer. But that is just my feedback.
You are right that consistency is very very important. Long time ago I started to trade dailies and some candlestick signals and unfortunately then I hopped on something else even though I was going not that bad. This time I am going to stick with price action, my biggest challenge now is to have routine which is a bit difficult with small baby in family. I am in AU and NY close is morning, 7am or 9am so I need to find some time slot when to check charts. Btw what would you suggest ? How to do chart analysis? Are you going through many pairs? How long it will usually take you to decide which pairs to trade for next day or week?
Thank you for your time
Hi Jan. That is correct. Worded is last week.
You can go to the last weeks charts or simply download them to your computer.
On one chart? This is a free service and doing so would take far too much of my time to update each of the charts.
You are not the only one who was having consistency and bought into another way of trading. It serves no purpose really as you are just taking steps backwards.
We are not trading intra-day so you can just look at the close of each high transaction sessions. Not so much the Asian session. I do, depending on the context of setups, set an alert so in effect I am entering the trade intra-day (although in reality in FX we are all trading intra-day since its 24 hour market).
How do I do chart analysis? Years of experience and understanding what I am looking at. I’m not always right (although I don’t aim to be right…just work the process) but it’s an art and science at times. Just because the chart is saying one thing…there are too many variables to worry about being right. Price movement is the result of many…or huge positions.
I do scan many charts…..but quickly. If things don’t jump out at you..move along. I usually look at the weekly first for swing trades. From there I can get a quick view of the price action of the latest week compared to others. Some chart patterns jump out…although horizontal support and resistance are MUCH better than any trend line. You can pop on a moving average which will smooth price. If price is chopping back and forth over the trend line…stay away. If price is too far from trend line…expect mean reversion..again depending on the price action. Strong momentum moves can push price far above the average but consolidating at highs for example is a bullish move. There is FAR FAR too much to cover…..just keep watching the charts I post and how they play out.
Thank you for your reply.
Yes you are right downloading them to my computer and would be the best option. Didnt mean to be rude or something, I know you are kind enough to share all your knowledge with you for free, I only thought it would be easier for you. As you said the best is to follow your commentary and learn from there.
I like your note : ” if things dont jump out of you…move along” .
Thanks again for replying to all of my questions.
Have a nice day:)
I found your website a few weeks ago and I must say it is really useful and very informative, full of great content. You really did a great job, I like your free course, as you mentioned other courses charge for this and here it is free and very simply explained.
I subscribed to your signals and would like to learn to trade like you.
I am a bit confused however how to ” read” emails you are sending on sunday. I read this post but still not very clear to me how to interpret your emails:
Using the latest signals April 10 – April 14 signals you sent an email with 11 signals for this week. You also wrote : “700 pips this week on the trading signals………..” and under this you posted 11 pairs with a short notes and finally you posted 8 charts with arrows and S/R lines.
What I am confused about is those 700 pips you mean you are expecting to gain if all signals will be successful?
Also, those 8 charts are they from last week?
(for example in the list of 11 pairs there is no AUDUSD but there is a chart under )
Sorry , I tried to express myself as clear as possible so you would understand what I mean.
I really like your approach and would like to learn how to trade it myself so if I understand what you are posting and sharing with us I would be able to progress.
Thanks a lot for your time and for sharing your knowledge with other traders.
Hi Jan. You expressed yourself very well in the comment. No worries about that. Thanks for the comment about the emails and such. I’ve changed the way it’s worded on the signal page so there is no confusion. Where you see just the currency pairs named, that is how the previous charts that were listed turned out. The “700” in that instance is what the potential was from the signal given the price movement that occurred. The current week is where the charts are. Does that help? If not, please let me know. In regards to the trading…it’s just experience and time. You can’t rush either of them. Just be consistent.
A great site for forex traders.God that pushed forex factory to become what it is today will push this project up.TAhank you a million times
That would be very cool if it became half as popular as FX Factory. I think that site takes a lot of work and infrastructure and may be too much of a job for me. Just keep coming here, checking out my content and signals…and I will be just as happy.
Is there and email address I can email you directly?
Hi Tshego. I don’t give out my own email address. You can however post your comments or questions here if you like.
Hey Shaned, First time to write here and loving your course. It truly shows the kind of Man you are just by taking the time to respond to everyone’s post. It sounds like you enjoy giving back and that’s awesome. Your’re an honorable Man and thank you for what you are doing.
Hi Jose. I appreciate the kind words! The course was written a while ago by the old owner of the website. I am updating a lot of what was written by him though. He certainly put a lot of love into the site. I hope that people see the charts that are posted and begin to find their own way to tackle the markets so they can become self-sufficient. Trading is a wonderful business where really…you make your own future. I always say it is a meritocracy.
I read with interest on RSI and AO from forextradingstrategies4u website.
It mentioned that RSI and AO on default settings, what are the periods for the RSI and AO for 15 minutes time frame.
Because different platforms have different default setting for RSI and AO.
I am a Scalper and trade on AU and UJ currencies pair.
For your guidance, please.
Hey Alvin. I will tell you that trying to find the best setting for any indicator is a rabbit hole. It leads to much wasted time as well as over optimizing any trading system.
In regards to default settings: RSI is 14. AO is a 34 sma and 5 sma. Hope that helps!
Mate, I am trying to marry up your charts with mine, but do not get the same results, i.e., when you have a doji / spinning top etc., it does not show on my charts. What type of candlestick/bar do you use? Are they default?
Cheers, thanks mate
I am using EST for my charts. Your question brings up a great point about individual candlesticks and their importance. I’m going to make that a blog post.
On GBPAUD daily chart, there is a clear breakout on 21.03.17, forming a clear C leg of the ABC pattern. I like to hear your thoughts on your bearish view on this chart, thanks
Hi Desmond – “Clear” is a relative term. It’s an objective statement in what is mostly a subjective art so keep that in mind during any type of analysis. Bearish view came from the price pattern and multiple time frames. Let me also add that a rally to 1.6666 is still in line with previous rallies (Jan 16-26)in this current down trend. When looking at a possible trend change (time frame context and which your comment implies), I prefer to follow the pattern until the reversal is clear. That all said, the strong momentum and current (as of this writing) basing at top of momentum and under resistance is a bullish sign (I prefer structure based analysis as opposed to a single strong break) Good question…thanks!
Thanks a lot for the great teachings.I just have one question though.
Is a bearish Gartley pattern still tradeable when point B is still within XA but beyond the 61.8 level?
Depends on how beyond it is. You would be well served to test out that question over a basket of trades to see if it makes a difference. Purists may say it is not longer valid. Those that understand there is a level of randomness in the market may say it is an approximate level…not an exact one.
Thanks for sharing first and for the amazing content on your website.
I tried to compare your charts above with mine and noticed that we do not have same patterns. Some candles are note exactly same. Could you please tell me what is the time are you using on your charts? I am using GMT-London (Gmt+00)
Thanks in advance
I use New York time. Don’t get too hung up on the details such as time. It is the concept that patterns speak to.
I appreciate your feedback.
I’m very new to Forex. Thanks to your website, i’m becoming more exposed to it day by day. big ups to you guys.
I need clarity on one thing, I subscribed to the forex signals, so I’m a bit confused when it comes to trading setup vs trading signal. what’s the difference? how do I use the your trading setups that you email me every week? like I’m so confused. I hope you get what I’m trying to ask.
when you do a weekly review and inform us about a number of pips made, how will I make them as well. How will I know when to buy, sell, place stop loss or take profit… like how do these signals or setups help me. I have to also be a swing trader or? can I trade those setups on a daily base or 4 hr timeframe?
one more thing, let’s say my strategy is a simple strategy which you have provided in your website.. so how do i integrate it with my strategy?
Please Rkay provide me with a clear explanation so that i dont get confused further.
Right above the current week update, you will see many links to show you what to do with the current update. While the term signal is used, they are setups and potential setups and you use the price action strategies that are contained in the course to help trade them.
The questions you have asked are a trading course on their own but you will find the answers to most of your questions on my website.
If you are using one of the simple strategies, you can wait for the signal to play out and then see how the strategy you are using is reacting.
? The charts themselves indicate where the signal is coming from…the time frame.
I highly suggest you set aside a lot of time and pour through all the information on this website.
Thanks and keep me informed!
I just found this web and it is best web for learning # thank u sir god bless u
Glad you enjoy it!
Hi shamed I wanted to know if you have a personal email I can write to you at..if so can I have your address thank you
Hi. I don’t give out my personal email address. If you want to send me a message, the best way is to put a comment in the http://forextradingstrategies4u.com/contact-us/ form at the bottom. They are not automatically posted and I read them all. Let me know what your interest is. Thanks./
Are you also using Nadex for trading is it also suitable for binary and forex trading ?
I have no interest in Binary option and I don’t use Nadex. My broker of choice is Oanda for FX.
BO are dangerous, people lost money there. some brokers can lock your account and steal your money. You would better trade Forex.
Absolutely agree. The horror stories I’ve heard surrounding binary options reminds me of the days when retail Forex was making its appearance.
Well Well that was quick. Have just received email so must have come through while I was typing previos comment.
Hi Kev. The emails are generally sent Sunday afternoon new york time. You can always check the FX signals page during the weekend because they are usually done Saturday or Sunday.
Have been working my way through all the valuable informaion on your website and must say again it is very informative. I have signed up for the weekly Trading Signals For FEB 27 – March 3 2017 via email but have not received as yet. I live in New Zealand so s it because of the time zone and has not yet been sent out.
Thanks a ton for sharing your signals and teaching many out there without any monetary interest very few people can do that !!! !
Hi Amarjit. Thanks for the words. I just wanted to do something that I wish was available when I started trading. Let me know how things are going.
This my first time here… As a learner I think it is the right place to be.
Looking forward to learning more from you.
Flourish and prosper
Hey Sebastiao! It is the right place to be…thanks for noticing. Just kidding. I hope you learn a lot from my website!
I never stop learning in your website here, many thanks to you bro.
maybe you can make a telegram group, it will be more good, and all of us can discuss in there, sharing some strategy, sharing idea, etc and maybe we can grow together. but its all up to you bro, because this free education is already great!
God Bless you
Hi Glen. Thanks for the nice words. I think I want to keep this more on the “down low” than anything. Glad you are learning a lot and hopefully making some pips! (all with sound money management principles of course)
I would like to get the signals also. Is it still available? My name is Luisa my email: email@example.com
Hi Luisa. I’ve added your email to receive the signals every weekend. Thanks for your support!
Hi Shane’s, I have been subscribing on the website for signals but I don’t get them. Could you please add my email please. firstname.lastname@example.org
Greetings. They were not mailed out yet. You can always swing by the page to ensure that the signals were updated for the coming week. A few hours after they are published, the emails get sent out.
Thanks for your hard work.
It really is very helpful.
One question i would like to ask you is whether you know the London daybreak strategy and what you think of it.
And if you think it is good maybe do a article where you explain it your way.
There are a few variations of the London breakout strategy but if I was to go by the Martinez version….I have no use for it. Place pending orders on each side of the range…. simply coin flipping. Where is the edge? Where is the compression before the breakout giving you a heads up which way the market may be turning and if it does…there’s pressure behind the move.
I will trade breakouts…but there is a reason I will look for one and for a particular direction. This strategy has no bias. It’s not based on market mechanics although it looks to take to take advantage out of a momentum move from consolidation. That DOES have an edge.….but not the bracket order trading style of this strategy. Like I mentioned, it’s a coin flip. I will say it over and over again….price action trading is where most traders should hang their hat.
Wow this website is truly amazing I found it a few weeks ago (really underrated) I made a few bucks with it.. Learning new strategies every day!! Just wondering do u have a live online course? One message I got from this website is never stop learning!!!
Hi Shaul! Thanks very much for the great comment! Glad to see you’ve been able to pocket some pips since coming here. At this time there is no online course (who knows what the future will hold) but thanks for the trust. For sure…never stop learning. You can focus on a few simple strategies and then just keep improving on it…more so in consistency and risk control. Keep in touch.
Can we access last weeks signals through the website? I cant find them.
You absolutely can access last week and many prior weeks. For the previous week, scroll to after the updates and you will see numbers 1…2…. Hit #2
Wow. great signals the past few weeks. thanks for education
Greetings great one I hope you do not get tired of hearing same thing over and over again,the truth is your course is an eye opener,this new insight is very helpful and powerful but undervalued by many who do not know the real truth,I really applaud you for the difference your course has done for me.I can not thank you enough but your work is like the 8th wonder of the world,keep doing that amazing job,REALLY THEY SAY THE BEST THINGS IN LIFE ARE FREE
Thanks for taking the time to comment. Hoping you are finding the breakdown of each signal written right on the chart helpful!
THANKS SHANNED, AFTER GOING THROUGH YOU FREE COURSE I AM NOW STARTING TO READ PRICE CHART LIKE A PRO THOUGH IT TOOK ME A LONG WHILE AND I WENT TROUGH THE COURSE 4 TIMES TO GET A GRASP. THANKS I WILL TELL MY FOLKS ABOUT, FROM NIGERIA
That’s great to hear! One of the hardest parts I think when it comes to price action and price patterns is the ability to set aside any bias you may have. A clear and objective look at the the charts can be difficult as we tend to seek out patterns (a human trait) that may not even be there. Keep it up!
on CADJPY daily chart following the double top it has put on on the resistance and a slight break below support, the candle with the arrow is telling us that a down trend is coming to play.
Ah yes…but what is it telling us in terms of what occurred? To me, it says it was a test of the lows and when it traded back inside, the bulls did not show up to the party to push price further north. A true test, a true rejection of that price would have seen much more momentum than it showed. Good call!!!
The candle stick on CADJPY, indicateso the buying pressure on the pair. Although a bearish reversal pattern double top is noticed. Bearish break out should have been noticed on Wednesday but there was buying pressure which I am not sure still exists today.
I stand to be corrected on my statement though.
Hi Sipho. Thanks for the comment.
You will see the CADJPY smashed through the first target that I listed on the chart. Hoping you got involved!
One thing as traders that we want to avoid is the word “should”. We can just read the price and structure and form our opinion. We can use the word “should” at certain points in the chart though and I will cover that in a later post.
Some traders will look at the candle with an arrow and think”fakey”. I don’t because of context.
Stand by what you wrote except for the “should” because it’s a pretty good thought!. The buying pressure clearly did not exist and there were clues pointing to that.
Nice setups from RKay.May God bless you multiple folds for making so many people rich through your free for ex trading course and trading setups.Kudos!
Hey Jonie! Thanks for the comment. Hope you are learning something from the course. I think sometimes the charts I post in the signals are almost a lesson themselves. All the best.
I am impressed with your block I am a very new trader though I lost $1 200 already. I started with R600 then due to poor knowledge and greed I lost it all when the PM of Britain announced early elections. I had a lot of my pairs in GBP and it went the opposite.
I read almost all of your block and I so happy to follow your tips, rules and trades.
I have a few questions that I would like to ask, is it possible to ask
Keep up the great work. I am a widow trying to selvedge something from trading, I don’t know if I am the right track or not.
God bless you.
You can’t help those surprise announcements. You certainly sound like you were way over exposed in GBP crosses which points to poor risk management. That can be learned though.
Because you didn’t seem to understand risk, you should not be trading a live account in my opinion.
Thank you so much. That is exactly what I did since I blew my account. I have been trading on Demo account.
I am bit confused about swing trading. When do you place a trade and when do you think is time to take profits.
The questions you have asked are way beyond the scope of my attention when it comes to these types of questions in the comments. There are plenty of swing trading strategies on this blog as well as this blog on swing trading strategies There are many ways and times to place a trade. There are many ways and times to take profits. You have to research.
You did not lose your money because of the election announcement, you lost your money because of you. You need to be honest to yourself first… look at your demo account and see if you are honest to yourself; I bet you started off with $100,000 in the demo account. Ask yourself how realistic that already is.
Forget words like rich, wealth, Lamborghini, millions, etc. for now. Aim for something more realistic. Why not try to pay your electricity bill from your trades? Your mindset is completely wrong and if this doesn’t change, you will end up losing your money again. Don’t be fooled by the ‘profits’ in your demo account. 95% of people who start trading the markets will fail within the first 3 months.
The author indicates already: “you didn’t seem to understand risk” – I fully agree with this, because how could such an announcement leave you with an empty account? No Stop Loss (SL), I can only guess = no risk management.
Im not sure why but the signals are always blurred when I open this page and they dont restore back though Ive subsrcibed,
Hi Henry. It is a very small number of people that are having that issue. My guess is to clear your browser cache and enter your email again.
Clearing the cache worked.
Glad to see that was an issue that could be fixed.