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Top100

US100Setup after setup after setup. Those who have either hit their TP's or have been adding entries on, well done future influencer in The Financial Direction of your city, area and Country. I blew an account earlier, only because of a silly mistake. I clicked on the wrong pair while I was executing my trades which then led to the wrong trades being open. One of those pairs had a spread of over 3000 points and I got stopped out. So I am completely at fault and understand the cost of the lesson was not the money but the ignorance of getting too comfortable. I am an android phone user and will not change anytime soon, but this is where I would wish META4 for Android had the instant trade buttons on screen like in IOS. New account opened and from now all trades will be confirmed. Usually I place the trades then put in the exit points, but from now on I will put in the exit points before executing the trade. This will ensure the instrument I'm trading is correct because if the parameters are wrong, META4 will not put through the trade.
UShort
by Mhangwane1
2
US100Apologies for not updating this trade, but here we see our short trade. Now we remove this from our charts, clean them up again and start all over. The point is to become predictable, once we do that then we also follow the markets predictability and that leads to consistency. I've learned over 7 years (which should have actually been only 3 years) that when you want something; 1 - make the decision, 2 - do the action, 3 - build a schedule doing the action, 4 - repeat 2 & 5 - once you reach your goal rest before the next goal.
UShort
by Mhangwane1
2
US100We reached a low we haven't reached since July 2020. Around the peak of the rona, which we could use as an extra piece of information. Moving down to the 4H, I see a reversal from the bearish trend in the form of a bull channel (2 touches both on the top & bottom). So I am waiting for the move down to complete before making any moves on this one. 1H, we had a break upwards which reached the previous high and started turning. Therefore either the "double top" will complete itself or a fail will happen and the bulls will come in to keep pushing it up. LET'S HAVE A PROFITABLE WEEK, FILLED WITH PIPS AND MINIMAL EXPENSES.
U
by Mhangwane1
US100Had to zoom out for it to make sense, look at the white lines. Volatility filtering down and creating enough demand for the supply which is coming. I had an interest in US30 and US100 earlier, but I'm glad I got busy with my day job (keeping me away from the charts). I did give a warning about this happening, this is like symptoms of a serious illness about to show itself. So from tomorrow believe everything will not be the easiest to read or to forecast, SO PLAN YOUR TRADES AND TRADE YOUR PLAN. Plan Constituent : Risk to reward, Pairs traded, patterns used/ indicators used, exit and entry points, active times, psychology, actions followed for trades once a exit has been hit, what the goal is and your signature at the end (mentally it's a binding contract between you and the management version of you)
U
by Mhangwane1
US100For the method and strategy I used, this was a long trade but still easily manageable and highly profitable. With how this played out, we got to see that US30, US500 & US100 are not the same but have few similar characteristics. They all volatile, influenced heavily by fundamentals and easily misunderstood. My hate of overnight trades wants me to close, but rather I am letting my trade hit one of my exit points. SL has been moved into profit with more than enough breathing room. Tomorrow we try again.
UShort
by Mhangwane1
US100⚠️⚠️⚠️⚠️DON'T FOLLOW THIS, JUST WATCH⚠️⚠️⚠️⚠️ Analysis and Forecasting like this is for teaching, because the direction the market goes will show us the possibility and the probability. The reason we stay sharpening our skill (Like a Katana) is so that we strike less times but each strike is as efficient as possible. My head space also isn't the greatest, I've actually taken a lot of losses. So I am actually staying out of the market and going through my mistakes and getting my Psychology Right.
U
by Mhangwane1