Gbpjpy
Every move in market is because of a target.
There is sevral places in a chart that you can see equal power of buyers and sellers, so in such area we clearly can watch transactions between support and resistances of demand and supply.
Do not forgot top and bottom of these areas can be a zone not a line.
We also know market is fractal.there is fractal patterns all over our chart.so let's back to what i started.
TARGETS:
Each target is defind as a new entry point.as a trader you need only think to where it started and where may it be completed.
As you also may know sevral smaller move creat a wave.(wave 1-3-5)and corrections(2 and 4).
So when you think to this move you can understand what is wykof and how these cycle creat trends.
Here i would like help you as a new starter to optimize your trading style.
Always ask yourself:
-where buyers or sellers started a move?
-where is thier targets?
-short ,medium and long term targets.
-how you trade?do you scalp?
-where is best place to put a set up?
-Is there a beter place near this zone?
-Where we have a left shoulder that can be a target or a place to turn price?
-How you manage your trade?
-Are you able to stand in a trade for a while or not?
-As an experince best trades are those we show our patience .
-As a trader your first job should be to protect your money so pls move your sl to be ehen you got atleast 30 pip profit or close 70%.
-Find your targets before you enter a trade
-When price remove last demand or supply zone it is very important to us.means we have an area that support price to move higher and then sellers consume all buy orders from that area ,so now we know something may happen and because of this we decide how to manage our trade.
-We trade ordees ,we read orders ,we enter with orders but always should be careful of what os going right now on the market?how price approach a zone?is it compresing?what about 3drive?is there a possible diamond?
To understand targets we need to know the start of a move.
-Where is the origin of last move?
Next:
-How price creat a flag?
I hope you as a trader can understand basic of market and try to read a chart without indicators.
To be able to read price actions you are alone with a chart.
-You must forgot holy grail.
-You must mange yourself then mange your trade.
-Never fight with market ,try to understand which group and how they may move the market.
-To fill buy orders they need enough sell and to fill sell orders they need buyers that we call worse buyers and sellers(those who just enter with big candles when thos move is over.
-So never put yourself in a game over area trade.
Good luck
There is sevral places in a chart that you can see equal power of buyers and sellers, so in such area we clearly can watch transactions between support and resistances of demand and supply.
Do not forgot top and bottom of these areas can be a zone not a line.
We also know market is fractal.there is fractal patterns all over our chart.so let's back to what i started.
TARGETS:
Each target is defind as a new entry point.as a trader you need only think to where it started and where may it be completed.
As you also may know sevral smaller move creat a wave.(wave 1-3-5)and corrections(2 and 4).
So when you think to this move you can understand what is wykof and how these cycle creat trends.
Here i would like help you as a new starter to optimize your trading style.
Always ask yourself:
-where buyers or sellers started a move?
-where is thier targets?
-short ,medium and long term targets.
-how you trade?do you scalp?
-where is best place to put a set up?
-Is there a beter place near this zone?
-Where we have a left shoulder that can be a target or a place to turn price?
-How you manage your trade?
-Are you able to stand in a trade for a while or not?
-As an experince best trades are those we show our patience .
-As a trader your first job should be to protect your money so pls move your sl to be ehen you got atleast 30 pip profit or close 70%.
-Find your targets before you enter a trade
-When price remove last demand or supply zone it is very important to us.means we have an area that support price to move higher and then sellers consume all buy orders from that area ,so now we know something may happen and because of this we decide how to manage our trade.
-We trade ordees ,we read orders ,we enter with orders but always should be careful of what os going right now on the market?how price approach a zone?is it compresing?what about 3drive?is there a possible diamond?
To understand targets we need to know the start of a move.
-Where is the origin of last move?
Next:
-How price creat a flag?
I hope you as a trader can understand basic of market and try to read a chart without indicators.
To be able to read price actions you are alone with a chart.
-You must forgot holy grail.
-You must mange yourself then mange your trade.
-Never fight with market ,try to understand which group and how they may move the market.
-To fill buy orders they need enough sell and to fill sell orders they need buyers that we call worse buyers and sellers(those who just enter with big candles when thos move is over.
-So never put yourself in a game over area trade.
Good luck
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.