GBPUSD PIPS captured left rest to run. UPDATE June 21 2020 Patiently waited for the trade to progress. PIPS were capture and now at BE for the 30% left of the orders.
System
AUDJPY might be a good trend confirmationAUDJPY broke out from longterm channel movement yesterday on 26th of May, 2020 and did around 1,7% daily average movement. We got new Higher High which is not proved yet, but this might be a very god sign to move in trend idea. We got first trend confirmation, but right now we have to see if sellers are out of gas (liquidity) and test new support levels. We can also expect second sellers reaction at channel test, but if they fail, we are highly recommend this analysis for first moving trend confirmation after last crash covid-19.
Buyers advantages:
strong volume
break out from channel
first trend sign
new strong support level
new higher high
Follow us for more and get fast updates when there is need for any kind of confirmation you need.
Thank you for listening
Following TARGETS check here:
Elitefxacademy
Successful Short Trade (BOOMER Market)Cable (British Pound Sterling, GBPUSD) is in an obviously beautiful BOOMER market, nose-diving South.
During a Downtrend market like this is, one of the wise things to do - is to ride the wave, trading FOREX.
As per the CONDI Trading System tules, the only trading allowed in this setup is (strictly!) with the trend.
T.m. only taking Short trading opportunities, 100% confirmed by the CONDI Trading System.
Recognized (yet another) such opportunity at point marked with the callout.
Trade successfully closed with profit within 11 1h candles.
Happy CONDI trading!
😎 Steps for building your own Trading System 😎Today I wanna said to you some steps for building your own trading system💪🏻
⭐ Step 1 - Explore Everything Created Before You
📌Analyzed markets
📌Methodology used
📌Depth of detail
It's possible, that you don'tneed a trading system, and you'll engage in discretionary trading, that is, trading by intuition.
⭐ Step 2 - Find Your Regularity
In order to create your successful trading system, you must know something about the market that others do not know.
Decide on the type of market in which you will work and the trading style.
⭐ Step 3 - Formulate Your Strategy
A profitable strategy, as a rule, is based on some idea, observation, a subtle market pattern, which is repeated often enough to be used in trade.
⭐ Step 4 - Test Your Strategy
Testing should be as correct as possible, objective and not leave a field of activity for speculation and illusion.
Don't forget about self - evolve and don't be afraid to analyze your mistakes. All of this will definitely lead you to success! 💪🏻💪🏻
✍🏻If you like my edu posts - put me likes and write your thought about it💙💛
Stay in touch with me💋
Your Rocket Bomb🚀💣
Below you may read about trading plan 👇🏻👇🏻👇🏻
Spotting signals without staring at charts all day? [Advanced]Prologue & disclaimer, you can skip this:
[ I am not talking about a strategy. I call this advanced because someone that has only been around for 3 months should be busy touching and looking at everything, soaking up info, someone around for 6 months should be busy backtesting and coming up with a decent method or strategy supported by a sufficient knowledge base.
What the focus is here is how to generate ideas without wasting time. You're profitable or hoping to be, you've got a few years doing this, you're going to keep doing it for the next 30 years, you're not going to be staring at charts all day long just to spot something.
Profitable strategies are complex, I seriously doubt something any idiot picked off the street can do will make money in the long run. An essential part of the strategy is knowing where to look. I guess most pro traders don't even do this step since they are hired to be experts at 1 thing and 1 thing only. "Looking for an Oil trader in the London region". I've heard of offers for FX & something, but those are portfolio managers, or managers for traders. I don't know how many people this applies to. What do equity traders do? Read the news, keep their ears open, and focus on companies they heard about? Day trading is still stupid.
I thought I had a huge amount with 35 (4 commodities + ~10 currencies total of 31 pairs), and here investopedia is talking about building a primary database that contains between 300 and 500 stocks and a secondary list that fits on their trading screens. Haha ye sure ok. Scram.
A site interviews a stocktwits troll "My stock selection preparation is done more on a weekly basis. 90% of my watch-list is created on the weekend, for the week ahead. At any given time I have 50–100 stocks I’m eyeing daily for potential setups.".
The fact that 90% get rekt within months and quit, 9% barely make it and don't really know what they are doing, and 1% are complete autists and paranoid about losing their edge, makes finding that kind of info pretty hard.
My watchlist barely changes, I always have 35 symbols in it. You want it big enough that you filter filter filter and go for the juiciest setups only, but hundreds LOL!!! netpicks "I day trade a watchlist of 10-25 names I spend 5-10 minutes 3 times a day scanning the whole list". Hedge funds hold hundreds of stocks currencies etc. What is this? It's like I am an OTP with a massive watchlist of 35. One Trick Poneys are always absolute beasts. Especially when they one trick complex high risk high reward things that others struggle with. And it gets worse the more abstract it is. I like it. I like it very much 😊
End of Prologue ]
This is a marathon not a sprint.
Have you ever been carrying a backpack or grocery bags and thought "hey this is quite light" and rushed forward only to get tired and have a hard time after 20 minutes, losing breath, losing your grip, and running out of energy?
What about these trolls that sprint in actual marathons and lead the race... for about 50 seconds...? Then finish in 4-5 hours (Eliud Kipchoge holds the world record with 2:01:39 man grandpa broke the record at 34 years old, and he set the london record at 35, it's never too late max heart rate goes down with age but that's all, plenty of top marathon runners and bodybuilders are like almost 40, and those are physical activities, so imagine for mental activities that rely on experience and rational thinking NOT impulses, but excuse finders will always find excuses "I am too young too young to invest yet, and I have all the time in the world, and should focus on studies" followed by "I am too old now").
Absolute 😂😂😂
Short bursts are so much easier. Quick explosion and then you're done. Sweat alot and out of breath for a while, but done.
Marathons are painful!
Feels easy at the start but it gets difficult over time. That's enough explaining.
What you want is to make it as simple and as easy as possible because your short burst motivation won't last.
Myself, I want to have a focus that is small enough to stay performant and not exhaust myself, but I don't want it to be so small I miss out a ton.
I'm going to go throught my thought process and come up with something at the end of this idea:
I have a large watchlist...
Would I miss alot?
Solution 1: I keep my 35 charts and quickly look at them visually to get ideas, to get a quick "feel" of where the price is compared to where I want it to go.
Solution 2: I go for 12-15 charts and spend more time on each thinking of all the possibilities and looking for more.
You absolutely have to make it as simple as possible.
I could remove some pairs. USDTRY I don't really ever touch. I don't remember ever doing anything with AUDCHF.
But even if I reduced it I would want to keep 25 to 30 tickers in there.
I can't be constantly scanning it. I don't look at indices much anymore, but still a bit, sorta need too I guess, and it's interesting.
Looking at US indices and Bitcoin and Tesla breaks the routine, it makes it interesting, so that's part of the solution not the problem.
I don't want to drastically reduce my watchlist, and I don't want to spend 2 hours a day looking at chart in a repetitive way.
"2 hours work a day isn't much". Doesn't work like this. First of all it is repetitive and extremely boring.
Check.
Mate.
Let's say I am looking for price reaction around support levels after an ABC. The strategy is advanced but I can divide it in steps:
There's pretty much all I can think of here, not sure what else one would look at, maybe I missed something.
When I have a potential setup I know how to analyse it, but the problem is in what order, more importantly how to get an idea?
I can't spend 20 hours a day 7 days a week analysing every currency in depth.
What is the simplest?
1- Draw supports on 35 charts once a week, set price alerts and go in more depth when an alert pops?
2- Look for reactions and then check it?
3- Do an analysis on 35 charts then set price alerts on the few levels I am interested in?
4- Look at the central bank calendar, and only pay attention to currencies moving (there's periods with certain currencies offering lots of trades and other ones doing nothing, no point looking at the ones not doing anything special or predicatable)
It takes time but it is less boring than other ways. Imperfect.
5-
This looks like the more viable direction, so let's dig into it more...
==>
So then the question is, how often do I watch, and what alerts do I use?
Better look at another now.
Other examples of "dirty" ABC:
And another question? How to know what the macro trend is etc?
Can read news often but most Forex "news" is, going to use the correct word for it, retarded.
And boring too. Absolute load of rubbish. Just read central bank announcements?
I have yet to find an interesting media. Tried to post ideas myself but it's too much.
I don't know if this is clear but it doesn't matter anyway.
Just wanted to show the thought process.
I did plenty of backtesting (I just posted a couple of charts here but I did hundreds more, not counting those I traded and those I backtested without this particular problem in mind in other words my experience).
Basically I think the optimal lazy/reward ratio is with scanning my watchlist twice a week.
More is greedy and I just won't do it (and end up missing out more), less is starting to be a little too little and I might miss out really often.
You're not here to go and chase every little move. But you do want to grab some!
At some point maybe we're all supposed to tire of it all anyway and go long term hold, or hire people.
Going to fry my brain with too much thinking.
So anyway I think I came up with this:
This would make a decent template.
Then all you have to do is fill the box with your method, system, strategi(es), preferences.
What I need to keep in mind out of this:
Step 1: Have clean charts with fib drawn (make a copy before vomitting all over it - I know I won't do it but I like to pretend)
Step 2: Sunday & Wed: When it's not Bitcoin tier and actually resembles something ⚠️, spot the area of interest (10 sec top chrono 🚨). Price alert early into.
Step 3: When I get an alert, that is a price alert ===> Then I go full TA. I have time. And it will take time. 90% filth ignored, rest gets a "reaction alert".
Step 4: When I get an alert, that is a reaction alert ===> Verify, and well I know what to do w/e. Very few to keep an eye on at this point.
If I spend too much time looking for an area to buy in then it's trash. The quicker I see it, the higher quality it is.
If I can't do this correctly, a solution is to rent an office. Easier to do pointless boring stuff regularly with an office. Just need to go twice a week.
But I really like this process. The NAZI lockdown makes it harder tbh, but with a semi normal life, following a process this simple is not a problem.
I don't even see how I can make it smoother and simpler I think I reached the limit.
That's all folks. Make it as simple and clean as possible. Good luck.
The best system in the world is the one you stick to.
Successful Long Trade (BOUNCER Market)Apple stock has recently passed the NO-TRADE zone and morphed into the BOUNCER Market Personality.
When Mr. Bouncer is in town, we are allowed to trade both long and short. Which is great.
As per the CONDI rules, most technical studies show near-perfect signals inside the Bouncer MP .
There's just one condition - every recognized trading opportunity has 2 be FULLY confirmed via the CONDI Trading System!
Recognized such long opportunity, fully confirmed and legitimate, at the point marked with the callout.
Trade successfully closed hitting the System profit limit within 2 1h candles.
Happy CONDI trading!
Successful Long Trade (BOUNCER Market)In a Bouncer market like this is, the CONDI Trading System allows us to trade both long and short.
We only pull the trigger - and this is important - as long as our trading opportunity is fully confirmed.
Most technical studies show signals near to perfection while Mr. Bouncer is at play.
Recongnized a promising long opportunity 100% confirmed via the CONDI TS at point marked with the callout.
Trade successfully closed hitting profit-limit within a single 1h candle.
Happy CONDI trading!
EURUSD last buying area.EURUSD has its last buying area (green)
I will place a trade there.
The movement 0A is correctiv. But if you look overall, you see that the market is moving in the red rectangle -> bigger buying area.
This movement is corrective and it could be possible that the market want to break out of these areas.
EURCAD selling areaEURCAD is near by a selling area.
If the market doesn't create a new Low, the area is active.
Check my signature for updates and more.
CADJPY is near by a buying areaCADJPY is near by a buying area. It hit it sometimes before as you can see (red rectangle).
This movement from A to B is corrective.
Check my signature below for updates and more.
TradeSetup für kommende WocheWenn der Markt in das rote KL kommt, können wir uns mit Long entrys platzieren
AUDCHF interesting buying areaThe BC-Correction of the bullish sequence is attractive for me.
I am waiting for it. Check my signature below, to get more trade ideas.
OIL - Buying areaCrude Oil created a new high in this month. For me this level is attractive. (618er)
It is the first bigger correction of the alltimelow.
EURUSD Blue = BuyingareaEURUSD over-retraced a little bit. With the blue rectangle we can reenter the market. If this blue rectangle do not hold - we can enter on the last red line of the red rectangle ( see chart ).
Do not forget to checkout my Signutre below.
USDCHF Small Buying areaThe blue rectangle is a small buying area. The correction starts of a red rectangle. The current 0A-Move is Impulsive and AB-Starts to be corrective.
To get updated from this trade, check my signature below.
USDCAD new Short-AreaThe little blue rectangle is a new short area.
It is build up from a secondary bearish sequence which is started from a red one.
if the price is below the yellow line the rectangle will move. To get updates of trade, check my signature below.
GBPCAD interesting buying areaHere we go again.
GBPCAD is a interesting buying area, as you can see here in the chart.
The 0A-Move was impulsive and the AB-Move seems to be corrective (Yellow-Area)
The red bearish sequence hereby confirms that yellow rectangle.
Alltime-LOW GBPCHF LongGBPCHF reached some days ago its alltime-low.
If this yellow line won't break, I guess the market will turn arround on this area which I drew.
This is my trading setup.
EURCAD BC-CorrectionNext Entry - EURCAD short.
If this yellow line won't break, here is my next entry. Here it started a greate bearish sequence. Will be my next entry.
Could be also a good hedge to AUDCAD
~~
Long BTC/USD My system tells me that BTC/USD downtrend comes to an end and its possible to go LONG on the HIGH of previous "green" bar
If the price will hit our stop buy order, I will set stop loss 4% lower the entry price and 10.5% higher the entry bar would be my profit target.
I will close my LONG also when the If trend will over (yellow, grey or red bars)
What are the green bars and others, you can see on my scripts in the profile
Feel free to use my scripts on your own
Good Luck and good trading!
"Cisco: short move coming" by ThinkingAntsOk4H Chart Explanation:
- Price broke the Ascending Trendline.
- Price broke the Support Zone (now Resistance Zone).
- Expect price to move down towards the next Support Zone.
Weekly Vision:
Daily Vision:
Updates coming soon!
