Is Forex Profitable?

[blurinvestor]

Why not usejpy instead?

That is just a info, have to take other variables into consideration.

 

[blurinvestor]

Short when price did a false breakout on the resistance with SL of 2 ATR.
1) Daily, Downtrend (Short)
2) H4, Price respecting 20 and 50EMA. 20/50 EMA acting as dynamic resistance.
3) Area of value to short; Now it's the corrective pullback towards 50EMA.
4) short when there is weakness in bull

Good a HTF trend trader, providing a very valuable info.
Please, participate more often to give your view, I believe many will benefit form your contribution.

USDCAD D1 and H4 is also uptrend.

 

[blurinvestor]

Just in case when h4 shows strength in later days, could be worth trying a reversal long

yes sometime we will but as long as we are not trigger happy we shall see the light.

 

[ChickenRiceCrews]

Good a HTF trend trader, providing a very valuable info.
Please, participate more often to give your view, I believe many will benefit form your contribution.

USDCAD D1 and H4 is also uptrend.

USDCAD is a bit tricky. It might reverse to a downtrend after hitting resistance. There is no build up/ consolidation near the resistance level. I will only long after a consolidation near resistance level

 

[blurinvestor]

USDCAD is a bit tricky. It might reverse to a downtrend after hitting resistance. There is no build up/ consolidation near the resistance level. I will only long after a consolidation near resistance level

Yes, babysitting it.

 

[blurinvestor]

Kathy Lien

 

[blurinvestor]

After reading other who post about their stock return, I think I will continue with forex, till someone decided to ban retail forex trading.

 

[xersion]

After reading other who post about their stock return, I think I will continue with forex, till someone decided to ban retail forex trading.

Please continue to share more.very informative

Sent from OPPO X9079 using GAGT

 

[neanea]

That is just a info, have to take other variables into consideration.

What other variables you take?

 

[zuppeur]

Looking at Xpdusd.week end with a daily ob and weekly pin bar,it low fall on weekly support @ 5940.

Looking to trade on the 50% retracement of daily ob or drop down to 4hrly to look for entry with smaller sl
Amateur also,pls take my call with a pinch of salt

no retracement today. potential trade to short usdsgd if close weak today.

 

[blurinvestor]

What other variables you take?

All indicators are laggers, They only confirmed your direction.
Indicator is good to the extend you understand their usage.
For example, many use Stochastics to look for overbought and oversold areas.
Before using it, you must at least know the basic of it - Stochastics.

After which you need to tweak it for your own usage. This tweaking of indicator take time, often it will be a futile search. And that is one of the major reason why people don't share their setting.

Open some D1 chart and observe when Stochastics enter the overbought area (Level 80) - Is it really overbought and price will go down?

If I tell you most of the time I buy when it enter overbought, do you believe?

Look back at D1, W1 charts, what are the percentage that price will go higher for days or weeks, when it enters overbought.

As for the tweaking part, just open a D1 chart and put a few Stochastics with different settings and watch from there.

But you must always remember indicators are indicators, you need to make your final call.

 

[blurinvestor]

no retracement today. potential trade to short usdsgd if close weak today.

Maybe wait after FOMC and BOJ.

anyway I only long this pair when price is right.

 

[blurinvestor]

btw LTF trader will ditch and curse the Stochastics.

 

[zuppeur]

Maybe wait after FOMC and BOJ.

anyway I only long this pair when price is right.

I went back the chart for and look again for usdsgd. 1.38 shld be a better level to look for a short.
Another trade potential I looking for is long eurcad.will only put a very small trade bcos of fmoc

 

[Mr.Canberra]

Forex Trading

Due to uncertainity it has been a challenge to trade since last week.

 

[blurinvestor]

Due to uncertainity it has been a challenge to trade since last week.

wait till FOMC, BOJ and RBNZ (if you are looking at NZD pair).

 

[Mr.Canberra]

wait till FOMC, BOJ and RBNZ (if you are looking at NZD pair).

FOMC is the main event! It is like WWF Royal Rumble wih 20 men in the rink. Every man for himself!

 

[blurinvestor]

EURCAD enters stochastic overbought (level 80) D1.

shall see how long it will stay there.

btw not a good time to test cos FOMC, BOJ tomorrow. Hence might closed it.

 

[zuppeur]

EURCAD enters stochastic overbought (level 80) D1.

shall see how long it will stay there.

btw not a good time to test cos FOMC, BOJ tomorrow. Hence might closed it.

I didnt manage to get an entry setup for ec. I drop down to 4hrly waiting for price to retrace to form a fractal high so I will enter at the break of the fractal

You trading standard lot?

 

[blurinvestor]

I didnt manage to get an entry setup for ec. I drop down to 4hrly waiting for price to retrace to form a fractal high so I will enter at the break of the fractal

You trading standard lot?

yes, standard. btw don't enter market now most H1 charts are flat. Closing soon tomorrow is not something I wanna play with, plenty time to trade but not during news.