Hi there, my name is Ivan, FX trader. After studying varies sources of information for the past few years, my understanding of the FX market has improved dramatically, with this blog simply intending to share with you all a journey within my mind. When I make it to full-time trading, I know the first person I should be grateful to is an Aussie PA trader named Jonathon; He has been inspirational and an enormours influence to gauge where the money flows to. His trades can be followed at http://forexpriceactiontrader.blogspot.com/ . What price is telling you is key, as it always whispers in low or high intensity what market intentions are. I do not endorse the use of any indicators, as they are lagging in nature; analysis should be based on pure price action. Besides, other factors like sentiment, fundamentals, risk control, rock-solid discipline, thousands of hours readings charts, also make up the equation to succesfully ride the FX waves. When entry triggers are detected, I act without hesitation, letting the market do its thing. Please note, information and opinions contained in this blog are for educational purposes only and do not constitute trading recommendations, thus will not take responisbility for any losses viewers may have. Trading FX carries a high level of risk, and may not be suitable for all investors. Before deciding to invest you should carefully consider your investment objectives, level of experience, and risk appetite. You should not invest money that you cannot afford to lose.
AUD/NZD BEOB H1. RISK 1%
Since I am bearsh AUD, and within a downtrend xontext we just got this beautiful BEOB, engulfing many H1 candles, will get on board aiming for a retracement towards 1.2950, SL 1.2990 highs, will go BE at BRN 1.2900, final traget are month lows. note I am not entering at the break of 1.2900 cause the RR is very poor, so i prefer to place some logical areas for price to rebound first, although this involves more risk.... will stick to the odds of the BEOB patttern movement appearing, that is, moving to most recent previous candle lows before resuming fall.
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