Local students sometimes ask me, generally they are beginners in forex,
asking about price movements that run on charts.
- Basic philosophy - Because no matter how good a boxer is, they still needs a good coach.
They are confused what to do, because they often experience floating even in the demo account.
Apparently, they are still often affected by price action.
Their problem is making a common mistake made by many people::
- Open position Buy when the price rises, no matter though -- the price has reached the Resistance level.
- and/or open position Sell when the price goes down, no matter though -- the price has reached the Support level.
- Still often forget that the price before continuing its direction:
-- there will be a correction or consolidation first.
- In fact
-- the market players wait at high prices to Sell (at resistance),
-- and they wait at low prices to Buy (at support).
-- in the visual chart is the price bounces when the first time price hits the actual SR.
-- That is SR Strategy that working on stages.
- The steps how Trading Planner can be a good trader's
- Important to realize.
It is market players who drive prices, not us.
-- Because we are just followers of the price they moved before.
-- Market players are : banks including central banks, investors, entrepreneurs, and people who have large capital to trade directly in the market.
-- In the SR strategy in obtaining a reversal technique, then placing positions as pending order at a level that has not been reached by price movements is a high priority.
-- that's why buy-limit and sell-limit are provided in trading software on any platforms.
- This picture is an example to find out
the market gives us the best opportunity to open new positions :
If people are still confused seeing the picture above,
then they need a teacher and need to read more about how market works
-- and make some practice before entering live trading.
Here is a few steps of how experts analyze the market.
- EURUSD: THIS IS HOW YOU CAN DETERMINE STRONG SUPPORT AS THE RIGHT PRICE FOR
- EURUSD: THIS IS HOW STRONG RESISTANCE CAN AFFECT SELLING EURUSD
EVEN ON DOVISH FOMC
- TRADE PLAN - EURUSD : WHICH STAGE WOULD WE FIND TRADES OPPORTUNITY THIS WEEK -
REVEAL KEY BREAKOUT AND STRONG SUPPORT
- NEXT REVERSALS OPPORTUNITY ON CADJPY
- TECHNIQUE : MAJOR CURRENCY STRENGTH
- HOW TO TAKE AN OPPORTUNITY ON STRONG BREAKOUT ALERT.
- HERE IS THE RIGHT TIME FOR SHORT-TERM TRADES (SCALPING) CAN BEGIN.
- HERE IS THE BEST MOMENTUM WE CAN EXPECT : TRUE BREAKOUTS
- HOW STUDENTS CAN PRACTICE
- and so on we can read here.
- EURUSD: THIS IS HOW YOU CAN DETERMINE STRONG SUPPORT AS THE RIGHT PRICE FOR BUYING POSITION.
We wish you all the best in 2020