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
Level 3 set up of fibo, moving averages and zz indicated a possibility of gold price reversing up to go towards 1168. The gold price was below 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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EUR/USD going to 1.09? - Week, 1.33 - Year, 0.665 - Later
1 September 2015, 13:57
As the eurusd price showed signs of a downward spike, closed the BUY orders with a profit and entered SELL order of 0.02 lot size. The eurusd price was above the opening price of the day, week and month, was near a high ZZ in H4, H1 and other lower time frames...
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forexintel
As the gold price showed signs of a downward spike, closed the BUY orders with a profit and entered SELL orders of 0.1 lot size each. The gold price was above the opening price of the day, week and month, was near a high ZZ in H4, H1 and other lower time frames...
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forexintel
EUR/USD going to 1.21? - Week, 1.33 - Year, 0.665 - Later
1 September 2015, 11:25
The eurusd price looks dangerously poised to go past 1.162 and reach price levels around 1.210 this week. Unless, there is a downward spike today in price levels, it looks more certain for eurusd price to keep climbing up. Today's closing price should provide more clarity...
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forexintel
The gold price looks dangerously poised to go past 1168 and reach price levels around 1210 this week. Unless, there is a downward spike today in price levels, it looks more certain for gold price to keep climbing up. Today's closing price should provide more clarity...
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forexintel
EUR/USD going to 1.162 - Week, 1.33 - Year, 0.665 - Later
31 August 2015, 20:33
I am changing the style of my title post as it might not be reaching the people with the habit of only reading the headline. Hopefully it will encourage more people to read the content instead of judging it by the headline...
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forexintel
I am changing the style of my title post as it might not be reaching the people with the habit of only reading the headline. Hopefully it will encourage more people to read the content instead judging it by the headline...
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forexintel
As i am expecting the gold price to close near the previous high of 1168, entered another BUY order with 0.1 lot size. I have kept the stop loss near previous week's low. Expect an upward spike for price reversal to reach around 1162 for the month's close...
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forexintel
As of now, the eurusd price has the potential to go near the previous high of 1.17 to close for the month, as mentioned in my previous post. If it does close around this price level for this month, then the eurusd price is expected to complete the pull back to 1.099 before continuing up to 1...
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forexintel
As of now, the gold price has the potential to go near the previous high of 1168 to close for the month, as mentioned in my previous post...
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forexintel
The Myth of Random Market Initially, I believed that the market has its own mind. Billions of transactions across the world, by millions of different people for thousands of different reasons cannot be a possible environment for a predictable market...
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forexintel
With the eurusd price retracing to the 1.12, which i was expecting it to do last week, i expect a price ranging at this level. I expect the price to touch 1.101, another key eurusd price fibo level, but probably next month...
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forexintel
With the gold price retracing to the 1118, which i was expecting it to do last week, i expect a price ranging at this level as it is a key fibo level of 50.0 of last month. I expect the price to touch 1101, another key gold price fibo level, but probably next month...
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forexintel
I see a remote possibility of retracement to a price level 1160. Hence entered a BUY order of 0.2 lot size to safeguard the equity. If the price continues down, obviously there will be a small loss, but the prices retracing to 1160 poses more risk than the small loss in the price going down...
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Since the eurusd has reached the high of 1.168, which was the high of gold too, 1168.0, without any retracements, i expect the gold and eurusd prices to fall to its historic lows...
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forexintel
The journey of the eurusd price to 0.665 seems to have started. I was planning to start a new demo account, but luckily the account is still alive. Never a fan of fundamental analysis, but the fall across stock markets indicate the beginning of a new low...
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forexintel
The journey of the gold price to 500 seems to have started. I was planning to start a new demo account, but luckily the account is still alive. Never a fan of fundamental analysis, but the fall across stock markets indicate the beginning of a new low...
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forexintel
THIS IS NOT A TYPO ERROR! I had hinted about this in my previous post https://www.mql5.com/en/blogs/post/647254. Since the eurusd price did not retrace to lower price levels on Friday, it is highly possible that the price level of 1168 or the current price level of 1...
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forexintel
THIS IS NOT A TYPO ERROR! I had hinted about this in my previous post https://www.mql5.com/en/blogs/post/647237. Since the gold price did not retrace to levels of 1118 or 1101 on Friday, it is highly possible that the price level of 1168 could a potential HIGH to SELL...
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forexintel
Waiting for today's D1 candle to close, i have some thoughts to share about the eurusd price movements. To have known for more than a month about the euusd price movement to 1.12 and not make money on that knowledge and face the risk of losing the account is very typical in forex trading...
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