Hi All,

I hope Vahid and you Guys won't mind my newbie analysis. Today it looks like a massive risk liquidation
Many pairs are assaulting their daily uptrend lines. The Aussie short trade is just awsome. I've already booked some pips and moved the S/L to breakeven. It looks like it may hit TP3 on 1:2. If this is beginning of the new trend it may even go lower. I realise sooner or later it will try to test the support line and validate it as a new resistance so just wondering where it will squeeze up ?
Just browse through pairs and see the EUR/GBP 4HRS candle just closed strongly over the resistance line. I wonder what is your take on it as I'm thinking where to put S/L and TP (if I take this trade at all).
The candle which has broken the resistance is marked with the red arrow. I would like to wait for retesting to get a better entry.
Would be grateful for Your Vahid opinion as well as other traders views.
Happy pipping for all of You
Kind regards
Jarek

Hi Jarek,

On my chart a doji has just closed, being the next candlestick after the big breakout.
It looks to be more in ranging mode now rather than going down to retest.
There may be some sharp movement up or down later but as it is Friday afternoon I would say just leave it and look at it again next week.
Regards,
aquiagora

Hi Jarek,

Sorry. I have to move your post to a different topic under "All About Forex Trading" because the thread you had already posted is merely related to Forexoma Live Analysis Program and related issues and topics.

Hello Jarek, It's funny because I mentioned this link between the indices and USD pairs the other day in my journal

2nd post

viewtopic.php?f=9&t=204

There is a correlation, but you cannot rely on it to predict the markets.
The stockmarkets have been rising more because of sentiment than fundamentals.
Fundamental analysis has let me down so many times in the past. The stock indices can move in the opposite direction that fundamentals suggest, apparently on a whim. I can't remember who said it -"The markets can remain irrational for longer than you can remain solvent" A comment aimed at trading based on fundamentals.
Nowadays I am a trader as opposed to an investor in shares and rely 99% on technical analysis.

Hi Vahid,
No problem at all.

Hi Jarek,

Thanks! you can use this thread for your analysis. you can also open a trading journal thread for yourself if you like.

Forexoma Live Market Analysis questions goes to its related thread.

This way we will not get confused and all the questions can be answered better and easier.

Hi Vahid,
Thank you very much for the opportunity. That is very kind. Now having this opportunity which was created I will try to post all my trades based on that what I've learnt here from Forexoma.
As with this EUR/GBP trade most of it at the beginning will struggle with such a simple things as S/L and T/P. Still where to place them on this particular trade. Any thought are very welcome as I'm just studying and learning my way. The logic seems tobe under the middle band of the Bollingers but it's EUR/GBP par which carries a high pip value, so the same lot size will be slightly smaller.
See what happens.

Hi Jarek,

It looks like a good trade setup. Just the market was a little overbought when it broke above the resistance. So as you said, a retesting is possible. So I would not take it because of this reason and also because the big candle formed above the resistance does not let me choose a good position for my stop loss.

Hi Vahid,
Thank you very much for your reply
And Thank you very much for lurking into my absolute amateuor analysis here. I'm thinking now, you say that S/L has to put at the place where likely the current trend can reverse. I've checked it and it works most of the time - that is awsome stuff I've learnt from you Vahid, again big big thanks. If a given good quality teacher can re-educate such an amatour "trader" like me it means a LOT !!! As I consider myself quite a lost case.
Thank you very much for your tutorials here Vahid, I note every signle your remark on markets movements and it really works for most of the time when I give it a time to develop. No wonder banks and financial institutions will value your expertice and knowledge of market's behaviour which is able to generate a constant relaible profit (something which I strive to achieve on my micro account) I can't afford more money to loose in my situation althought having a full time job it's not easy to catch up with markets. But if something brings results I'm ready to work hard for it.
So based on that this is my S/L (is marked with black line)placement. Now 100pips apart fom our pirice. I would think 100 pips carries higher money/per pip value therefore it makes it costly trade. ?? I don't know again I may talk some rubbish, so apologise.
I will wait patiently to see what happens with the price action in the next 24 hrs.
Hope it will be a next ncie and profitable trading week for everybody in our small community of traders here.
Cheers,
Jarek

but now it's filling a gap and has a tendency to go up as Vahid's analysis is pointing. That is really an awsome stuff which works and is pretty relaible in a long run. That's Vahid's teaching !

on this AUS/JPY trade, roughly 40 pips - not bad at all considering the markets are just started to open an new week.
Now I'm a believer of taking some profits straight from the table when they are available (some means like 50% fdor me). Then moving the S/L quite close or to the break even. The best one in this case (which I have done) is moving the S/L slighltly below this big bullish 4 hr candle (which I have done) So at the worst it may turn out to be small gainer (but noyt a definite looser with a negative money value).That means for me a winner as the breakeven or small gain should be considered a winner with market game.

BTW good morning to everybody in Asia and good afteroon to everybody across the pond.

Thanks Jarek

Jarek & Vahid, I have been looking at the EUR/GBP as well. On all time frames W1, D1, H4 and H1 resistance was broken and only the TF H4 looks overbought. Also B middle band is under now. That would be considered as a good long trade, wouldn't it?

Another nice long one is EUR/JPY, in D1 and H4 resistance is broken, retested in H4 time frame, also above BMB now. Just learning as I want to be a good student.

In the EUR/GBP on the top of in H4 time frame there is the very small triangle, with new S and R lines, with the 04:00 candle above and outside of the resistance. Just looks overbought on MACD. (Eagles eyes [for a few pips] or not really?)

...as I haven't taken a previous E/G set up - indeed price action wasn't great. No retracement at all. Thank you very much Guys for all your comments. Very welcome.
I'm just learning so here probably nothing interesting. However I will be stay grateful to anybody with more experience and success in markets to help me learning.
This time I use again Vahid's analysis on EUR/AUS set up on Forexoma. The daily candle closed above broken resistance line and tested it. I went in on daily close. Initial S/L is quite low (I suppose I'm very deffensive but don't know the true reason for it). So a defenite TP is also wide. I took the minimal risk of 1% as this is my own setup. Checked MACD is getting positive so maybe the breakout will bring some profits.
Actually as I'm checking it now.
As there are some profits already I consider moving the S/L slightly higher ? but where ?? Is that good strategy or shall just give it a space to breathe.Would be grateful for all your opinions and experience.
Happy trading to everybody who works.
Happy Thanksgiving Day to all across the pond and a nice Holiday.

Jarek

Have a nice Holiday.
Hope everybody who celebrates it finds themselves with the family at the dinner table and everybody is well.

Thank you very much Vahid for all your help to become a profitable trader some day.
I've closed first half of the trade I decided to initiate myself (long EUR/AUS based on the daily trendline breakout ) with 260 pips profit and of course S/L has been moved half way the first big daily candle so if market retraces on me I'm still positive. I will keep the risk still low (1%) on this trades but I still think the potential is much higher. Just wondering today's and yesterday's strong prioce action ? result of low liquidity (the movements are "exaggerated") or a temporary trend reversal ?? I know it's too early to get excited and market can easily erase this losses within next week. However today's financial and fundamental news are quite scarry for risk taking (going back to to the dollar as a safe heaven thing) at least till situation gets clearer and smoke's gonna come down. See what happens. Standing aside for now

This pair was never my favourite.
However, I gave a thought to your answers on the frequency and that had a look on weekly chart of USD/JPY and see this time the price touch and rebounded from a significant swing low in the history I can look at my limited time frame charts. So I decided to go long, when the price closes by 1-15 pips above the end of the upper wick of the previous bar which looks like a pin.

Jarek, do you use Vahid's financial and fundamental news from the forexoma analysis pages or do you look for a specific news somewhere else? This was always my question where to start to learn extras about fundamentals.

I will post my yesterday's trade AUD/USA I had it turn -on auto; but I followed Vahid's mentioning in EUR/USA regarding retesting (further down to support line) and it worked very well for me. Thanks for posting your thoughts.

Jarek, do you use Vahid's financial and fundamental news from the forexoma analysis pages or do you look for a specific news somewhere else?
I use Vahid's interpretation and knowledge most when I'm checking the news. I'm using my Financial Time web prescription - pretty valid stuff to read sometimes good analysis and views. So mostly that which one has to pay. I also use my mobile Bloomberg - when has some time to read

S/L 10 pips below the bar end. Entry 10-15 pips above on close. TP probably at least testing the main resistance line so that would do in the best scenario 1:1 trade.
Post your set up with some thoughts and we all will benefit here. Fantastic place for serious people with the outstanding teacher like Vahid.
The red horizontal line is the level where I will book some profits and move the S/L to the breakeven - so then the trade is free of stress