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.







Sunday, 6 February 2011

BEOB EUR/CAD WEEKLY


We are still in the context of a downtrend in the weekly chart, I had the area 1.3650 circled on my chart, as any PA popping up arund this vicinity could be a good chance to go short. The weekly candle formed a BEOB, which aligns with the KHL metioned, and also has rejected 50-61.8% fib from 1.43-1.28 downfall. My BE target and take of some profits is 1.3100, final targeet is set at 1.2800. Entry order is at 1.3342.
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4 comments:

  1. JVF9 February 2011 at 05:44

    Careful mate. I got a lot of questions regarding this over the weekend. Okay so it has a few plusses going for it such as rejecting the big round number 1.35 but look what its running into.

    This one is sitting right on a trouble area instead of trading away fom it. I wish I could upload a chart. You will see those bar highs I am refering to though.......

    You will also notice that if you align those bar highs and go back a little way they line up perfect with a whole heap of bar lows.

    Best way to play this would have to take a clear break of all those areas. Even a 20-30 pip entry under the outside bar would be suffice here but entering before this area is broken could be super dangerous.

    Obviously just my opinion mate. Besta luck!

    ReplyDelete
  2. JVF9 February 2011 at 05:48

    Hey Ivan,

    ive just re-read your post and it said your entry was 1.3342. On my feed you shouldnt be in that trade by 1 pip. Great job mate on learning from previous mistakes and not making them again. Im talking about giving yourself a buffer here!!

    Fantastic mate!

    Keep up good work im loving it!

    Also I will put up that link to you if you like on my blog but only problem is they wont be able to access it as you have it blocked so they will get a blank. Maybe I can put your email on my blog! and they will email asking for access!

    ReplyDelete
  3. ivan9 February 2011 at 14:52

    thats what I was refering too. Do you think I should open the blog for everybody or best only people sending me the email?

    ReplyDelete
  4. JVF10 February 2011 at 03:04

    Nah I dont think so. Keep it blocked as to be honest you sought have want people to email you first asking before they start viewing.

    I will continually post for you. Your job is to keep reminding me.

    Dont worry though its amazing how it works. I have not advertised or even wanted people to view and they sought have just do!

    ReplyDelete

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