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.
EURAUD long trade
I have taken a ride hgiher on the EUR/AUD, I have been really busy not having much time to post live, willl try to address this shortly, In the meantime I try to update as we move forward. I am aiming to 1.3650. Took some profits when price hit 1.3600. Reason to get in was double rejection from 50% fib
Heya,
ReplyDeletedid you trade the pinnish looking thing on euraud?
Great stuff, absolutely great!
Hi Jonho,
ReplyDeleteUsually when I see an impulsive wave of this magnitude (1.2925-1.3880) all within the context of a double bottom, I stay vigilant to any PA to, in this case, buy on dips. Despite the PA formation was not ideal, it dill tell us a story... that was that the Euro for 2 consecutive days showed quite a remarkable resilience to lose the 50% fib retrac. plus not much troubling areas on the way up. Also note my SL was safely placed below 1.3350 (look at mid jan lows)... So eventhough price did retreat on the first attempt up i didnt move to BE until the big run up...