After practicing for 7 years, i realized that buying foreign exchange for the purpose of forex trading is prohibited for resident Indians. But realized that the learning and exploring i undertook over these 7 years have given me an insight completely different from the one i had when i started. The standard tools and their set up available in the public domain is either inaccurate or inconsistent. A combination of Fibonacci retracements, Zig zag and moving averages exposed the step by step of progress of a trend along with the potential start and end of trends. No single indicator, standard or modified would work but a combination of these three indicators works perfectly in following the price trends.
Obviously, at the beginning, the awareness on price obedience was based on hind sight, but with practice, resulted in early entry and exit in to trends. The market is surrounded by popular beliefs and myths that were completely shattered when i watched the price movements through this modified set up of indicators. Currently, offering this trade set up, checklist and trading strategy as a course on technical analysis for trading.
Typically, forex trading is seen as a quick buck tool to be an instant millionaire. This approach has destroyed the reputation of people and industry. The market is bombarded with misleading information by the seconds and minutes with traders glued to screens in the hope of minting money by the second. But the market makers seem to be moving the prices on a larger time scale of years and decades, beyond our short memories and long term perseverance. My trade set up helped me to see the bigger picture of the market which was like learning the alphabets and grammar of a language.
You cannot learn forex by reading, listening or watching. Observing the market price movements through the filter of my trade set up, can speed up the learning process. It has worked in every type of financial instrument from forex, metals and stock market. More you practice, the more successful you will be. Exactly the reason why you get demo accounts to practice before going live.
Practice, Patience and Persistence will result in Profits. There is a fine line between ambition and greed. As long as you do not cross that line, you will do well for yourself and others.
Obviously, at the beginning, the awareness on price obedience was based on hind sight, but with practice, resulted in early entry and exit in to trends. The market is surrounded by popular beliefs and myths that were completely shattered when i watched the price movements through this modified set up of indicators. Currently, offering this trade set up, checklist and trading strategy as a course on technical analysis for trading.
Typically, forex trading is seen as a quick buck tool to be an instant millionaire. This approach has destroyed the reputation of people and industry. The market is bombarded with misleading information by the seconds and minutes with traders glued to screens in the hope of minting money by the second. But the market makers seem to be moving the prices on a larger time scale of years and decades, beyond our short memories and long term perseverance. My trade set up helped me to see the bigger picture of the market which was like learning the alphabets and grammar of a language.
You cannot learn forex by reading, listening or watching. Observing the market price movements through the filter of my trade set up, can speed up the learning process. It has worked in every type of financial instrument from forex, metals and stock market. More you practice, the more successful you will be. Exactly the reason why you get demo accounts to practice before going live.
Practice, Patience and Persistence will result in Profits. There is a fine line between ambition and greed. As long as you do not cross that line, you will do well for yourself and others.
forexintel
Expect a huge downfall in gold price from today. If the gold price crosses yesterday's high, then obviously it will continue to go up. As i had mentioned in my previous posts about the high volatility, see this up ward movement as a retracement in a downtrend rather than an upward trend...
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forexintel
EUR/USD going to 1.072 - Week, 0.965 - Year, 1.33 - Later
21 September 2015, 11:22
I had mentioned in the previous post about the improbability of a price rise in eurusd. https://www.mql5.com/en/blogs/post/649455. Even in the analysis of the gold price movement,https://www.mql5...
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forexintel
As the gold price went beyond my expectation of 1118, threatening to wipe out the demo account, i still see the possibility of the gold price going down more probable than it going up. If it goes up, expect it to go up to 1500...
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forexintel
EUR/USD going to 1.072 - Week, 0.965 - Year, 1.33 - Later
17 September 2015, 19:16
Level 2 and level 3 set up of moving averages, fibo, zz and chart patterns indicate the improbability of a price rise...
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forexintel
I had mentioned in my previous post https://www.mql5.com/en/blogs/post/649256 that the gold price might spike up to 1118, but the gold price went up till 1124...
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forexintel
EUR/USD going to 1.072 - Week, 0.965 - Year, 1.33 - Later
16 September 2015, 08:25
I had used the gold price movements to analyse the eurusd price movements, in my recent posts. Even though, eurusd price seems to be pegged to the gold price, it need not necessarily follow it everyday. Starting from this post, will use my 3q set up to analyse the eurusd price movement...
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forexintel
As mentioned in my recent posts, 1101 is providing support and the gold price has been ranging around this level for a week now from last Wednesday. Still believe that the gold price is going down to 934.0...
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forexintel
EUR/USD going to 1.072 - Week, 0.965 - Year, 1.33 - Later
14 September 2015, 01:38
Whenever prices look menacingly closer to a free fall or a shoot up, i become aware of my greed and start to look for potential retracements. 1.101 was one such level where there was a potential reversal...
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forexintel
Whenever prices look menacingly closer to a free fall or a shoot up, i become aware of my greed and start to look for potential retracements. 1101 was one such level where there was a potential reversal...
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forexintel
As the gold price was near a high ZZ, above the opening price of the day, and yellow MA locked below black MA in D1 and MN time frames, entered a SELL order with 0.1 lot size...
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forexintel
EUR/USD going to 1.072 - Week, 0.665 - Year, 1.33 - Later
10 September 2015, 20:32
As EUR/USD reached a high ZZ, the level 2 set up indicated the moving averages tangled together in a ranging period, especially in D1, but indicating the possibility of the set up turning in to a SELL set up. Hence entered another SELL order with 0...
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forexintel
As the gold price lingered around 1101, a key fibo level, entered a BUY order with 0.2 lot size. Looking at the candle sizes in H4 and D1 and the chart patterns, it looks a bit difficult for the price to reverse...
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forexintel
With the gold price retracing to previous day's high, see the possibility of a stronger downward fall. Expect gold price to reach around 1011 and then retrace to 1071 before continuing to go down further...
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forexintel
EUR/USD going to 1.072 - Week, 0.665 - Year, 1.33 - Later
8 September 2015, 09:45
As of now, the eurusd price seems to be in the perfect set up for a FREE FALL in the coming weeks. The complete set of moving averages, fibo levels and zz indicate the possibility of a SELL trend. Unless and until the eurusd price goes above the previous week's high, the fall seems to be certain...
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forexintel
As of now, the gold price seems to be in the perfect set up for a FREE FALL in the coming weeks. The complete set of moving averages, fibo levels and zz indicate the possibility of a SELL trend. Unless and until the gold price goes above the previous week's high, the fall seems to be certain...
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forexintel
EUR/USD going to 1.097 - Week, 0.665 - Year, 1.33 - Later
4 September 2015, 20:25
Since the expected zz formation of W did not happen today, expect the possibility of a free fall in eurusd prices. Since there is a possibility of a huge fall on Monday opening, entered SELL order of 0.02 lot size. But if the eurusd price retraces to 1...
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forexintel
Since the expected zz formation of W did not happen today, expect the possibility of a free fall in gold prices. Since there is a possibility of a huge fall on Monday opening, entered SELL order of 0.2 lot size...
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forexintel
EUR/USD going to 1.162 - Week, 1.33 - Year, 0.665 - Later
4 September 2015, 09:27
Have been expecting the formation of a 'W' zz formation in H4, but didn't expect the price to come to the current level. Probably the W looks more like a W at this price level. If the price goes below the previous low of 1.101, then it is going to be a free fall for the next few weeks...
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forexintel
Have been expecting the formation of a 'W' zz formation in H4, but didn't expect the price to come to the current level. Probably the W looks more like a W at this price level. If the price goes below the previous week's low, then it is going to be a free fall for the next few weeks...
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forexintel
EUR/USD going to 1.162 - Week, 1.33 - Year, 0.665 - Later
3 September 2015, 05:38
Level 3 set up of fibo, moving averages and zz indicated a possibility of eurusd price reversing up to go towards 1.162. The eurusd price was near the opening price of the month, week and the day. Also there was a low ZZ in H1 and smaller time frames...
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