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.







Tuesday, 15 February 2011

UPDATE AUD/USD PB H1 AND ENTRY ON PB H4

Dont have much time guys, still gotta go to the gym and run 10 miles minimum.... lol... So I am just gonna copy what I wrote at Johno Forum:


"Here is how all unfolded on my end... I went short on the PBH1 set my SL past the 61.8% fib from the PB length as it was a logical area, i got stopped out but instead of risking 1% i misplaced the volume and ended up just losing 0.2%... (first time this yr... ironically in my only losing trade this moth so far... lol..)Anyway... Then I spotted the H4 PB and thought that was the signal I should have waited for. I set an sell on stop below the low which just got hit, this time I entred the right volume and I am risking 1%...My SL is above the first pin highs... BE around 0.9950. I think there has been massive interest to hunt stops above the H4 PB then as soon as these were triggered the price followed its course to lower ground... typical mkt behaviour, isnt it?  novice traders get swept away, profesionals continue riding the aussie lower...." Feedback welcome
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