Forexforbeginners

Forexforbeginners

A follow on post from my earlier one on XAUUSD - we have re entered on this little bullish run and where price has reacted nicely off the previous lows. Small SL and a nice TP goal.Total RR on this one 3.88% remember, if that's trading 1% of your account balance then thats a near 4% gain on one trade..... simple terms £10,000 account - would be risking £100 for...

Forexforbeginners

Thought i'd share with you my idea behind my Gold trade. Running nicely in profit and first TP taken. So first off on the 1hr TF we found a nice support line where recent price has reacted so obviously this peaked our interest when price started to come back to this level. Dropping into the smaller TF's being the 15min chart. We could see a stucture level...

Forexforbeginners

Here we have EURJPY Which has reached an interesting level on the 4hr TF. Entry here was based on a 30m chart and covering the prior highs. TP1 has already been hit and profit secured. Looks like a far reach RR but this is purely becauseof the the entry point. There is a big gap for EJ to fill so this may run for a few days but will be monitored. Stop losses...

Forexforbeginners

AUDNZD - here we have a difficult one to explain as the trade has been taken based on the daily, the 4hr and lastly the 1hr Timeframes. Daily time frame shows us a good error of structure (yellow box) where price has previusly reached here and reversed. Same thing with the 4hr, except this allows us to looka t candle movement and how price has been reacting....

Forexforbeginners

Here we have USDJPY, price has been playing out of these yellow structure zones nicely over the past couple of weeks. we witnessed yet another rejection/pull back yesterday which allowed me to look at including a FIB into the trade. Now this morning price hit the 50% and reacted nicely and has since come back down to test this level again, this is my buying...

Forexforbeginners

Just wanted to share a trade we took out last week into this week. It all started with a desending trend line and a fib tool. So we can see the trend got broken so this was our first indication that price may reverse. Looking on the higher timeframe of the 4hr charts we could see we may end up having a rallyup after this break, we trusted the instinct and the...

Forexforbeginners

Here we have US30 - our original plan on this has already happened. We bought when price reached the structure zone and now due to the continued falling of US30 we have short this pair and expecting price to reach back to this structure level/ Except, ignore the orignal arrows, we expect a break of this this time and price to continue back down.

Forexforbeginners

Nothing yet to do with this pair as we are still waiting for price to move more our way... BUT we can see we have this strong bearish trendline in play which when price touches this we will short. We also have our confluence in line with our stochastic showing us that price is getting over bought so we should see some nice moves down. Be patient and wait for price...

Forexforbeginners

If you followed on my last Gold post i have taken partial profits and moved my stop loss to break even. Nice £800 to start the day!

Forexforbeginners

Yes it's been a while since I posted so apologies on that to those of you who follow me. So firstly, Happy new year traders. I wish you all the best for your trading year! So why has Gold peaked my interest? If we look on the daily we can see this nice level of structure. This has previously shown us that it likes to react from this level especially when the...

Forexforbeginners

You know what to do here. Daily Trend line = bearish. Daily Stochastic = over bought. Supply zone = fulfilled. That's 3 confluences for a sell. Should see a nice top up for Christmas!

Forexforbeginners

If we take a look on the daily time frame we can clearly see this is a level to be interested in. The past 4 times price has reached this level we have seen it react and go back on itself. Each time this has happened if you take a look at the stochastic below you can see that this has added confluence to the idea and then gone the opposite way as well. Depending...

Forexforbeginners

If we take a look at the nice bearish trend that we had in place we can see this was clearly broken. price has now strongly pushed down and tested this level. As we look into next week we will of course go into the smaller timeframes 4h and 1h and look for some better confluences/entry points to look at getting into a long but this is just an idea of what I...

Forexforbeginners

Right then you lovely lot. Bit of really simple, US30 analysis for your weekend. If you go onto the daily time frame you will see how bullish US30 has been this last year. I personally think this has a lot to do with covid and how a lot more people have looked into investing etc and this in turn has seen stocks/shares in general reaching all time highs. So from...

Forexforbeginners

Just a brief run through on the setup of EURAUD here. So we can see off this fib we have reacted nicely off this 50% fib with a strong bearish 4hr candle closure. Off this we closed under the 38.20% and on the retracement back up we have now entered with our stop loss just above the 50% in case of a retest. EA overall on the daily timeframe is in a down trend...

Forexforbeginners

This turned out to be a fantastic little trade. 0 drawdown from when we entered and it ran nicely to profit :) Nice 3% profit made on this trade

Forexforbeginners

AUDNZD - as you can see we have made significant moves last night on this pair. It peaked our interest when we noticed this 4hr bearish trend coming into play. From that we ran a fib from the high to low and monitored price action around the trend line. Once we saw the bearish closure on the 4hr (Circled) we entered here and had basically 0 drawdown 1% taken in...

Forexforbeginners

I've been monitoring this from around 6am UK time and now we have seen the liquidity filled and seen a nice pull back i'm now entering. If you follow. Use your own risk management but my advise would be no more than 1% risk... Keep your capital safe! Happy trading :)