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.
NZD/USD UPDATE
Well, given the key level that PB formed at, plus closing with a nice looking bullish nose, I will no longer be into this trade should the PB highs get pierced... actuall y my SL will be set 1 pips above 0.7600, reasons is this area may act as a second psichological resistance for the price to keep climbing... I thought it makes sense since btw the highs of the PB anf the BRN there is barely 8 pips dif... I am gonna give myself a chance to still hold the 1/2 position with this second obesrvtion...; the other 1/2position in NZD/USD hit taarget once 0.7550 was reached.
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