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.
forexintel

GOLD GOING TO 700!

3 dezembro 2015, 17:15
Refer to my previous post https://www.mql5.com/en/blogs/post/656343 on today's spike. I still believe that the gold price is going to 700. Unless if it is going to October's high, there seems to be no chance of an uptrend. Trends don't happen in one day but spikes do...
forexintel
Are you thinking about closing your SELL orders? or it has already been closed because you entered a stop loss level... This is one of the classic stop loss hunt move, i believe, a huge percentage of traders would have lost their account or a substantial amount in their account with this spike...
forexintel
Are you thinking about closing your SELL orders? or it has already been closed because you entered a stop loss level... This is one of the classic stop loss hunt move, i believe, a huge percentage of traders would have lost their account or a substantial amount in their account with this spike...
forexintel
EURUSD seems well set to fall to 0.88. The fall could be sharp and swift that there might not be enough upward retracements for entering a SELL. Expect the eurusd price to reach 0.88 in the next 3 to 4 months with very little upward retracements...
forexintel

GOLD GOING TO 700

26 novembro 2015, 15:34
Gold price well set to fall to 700. With every passing candle ranging at the current price level, the level 2 set up is slowly turning into a SELL set up, where the upward retracement before the fall seems more remote...
forexintel
EUR/USD price seems to be going down to 0.88 without any upward retracement. Have closed my BUY orders and entered SELL orders, as the eurusd price was near the day's opening price and close to a high ZZ in M15 time frame...
forexintel

GOLD GOING TO 700

24 novembro 2015, 04:45
With the gold price ranging in the past few days, the level 2 set up is slowly turning into a SELL set up. As the gold price was near the day's opening price and near high ZZ in M15, closed the BUY orders and entered SELL orders...
forexintel
As it looks more and more probable for a drastic fall in eurusd price, level 2 set up still shows the possibility of an upward retracement in eurusd price to this month's high. As mentioned in my previous posts, i expect eurusd prices to move in sync with gold prices...
forexintel
With the gold price going below the previous low of the year, there is little doubt that the gold price is going to 700. The question still is, will it go after an upward retracement or without an upward retracement. I still believe that there is a possibility of an upward retracement...
forexintel
I had mentioned about the possibility of EUR/USD following the upward retracement of gold price. https://www.mql5.com/en/blogs/post/654261. Even though the gold price went below the last week's low, i still haven't closed the BUY orders...
forexintel
I had mentioned about a retracement in gold price in my recent posts. https://www.mql5.com/en/blogs/post/654260. Even though the gold price went below the last week's low, i still haven't closed the BUY orders...
forexintel
I had mentioned in my previous post that i was expecting a substantial retracement in gold before a drastic fall and an immediate drastic fall in EUR/USD. https://www.mql5.com/en/blogs/post/653781...
forexintel
I had mentioned about a retracement in the gold price to above 1183 in my previous post, while being cautious of a drastic fall. https://www.mql5.com/en/blogs/post/653974...
forexintel
I have been mentioning about the possibility of a retracement in gold price to 1160 at least https://www.mql5.com/en/blogs/post/653777...
forexintel
While i am expecting a substantial upward retracement in gold price, before going down, I am expecting a free fall in eurusd prices as mentioned in my previous posts. https://www.mql5.com/en/blogs/post/653109...
forexintel
I was expecting a retracement to 1170 before the gold price went down, hence entered a BUY order last Friday with a stop loss near that day's low. https://www.mql5.com/en/blogs/post/653220...
forexintel
While i still believe that the gold price is going down, level 2 set up showed a possibility of a retracement to 1170, for the month closing. As my SELL orders were below this price level, decided to take profit, instead of seeing the SELL order go negative again...
forexintel
Having entered a SELL order in the morning, https://www.mql5.com/en/blogs/post/653020 on a HIGH ZZ in M15 time frame, saw another opportunity for a SELL with a HIGH ZZ in H1 time frame. Hence entered another SELL order with 0.02 lot size in addition to the SELL order in gold with 0...
forexintel
After suggesting to SELL when gold price reaches a HIGH in the day https://www.mql5.com/en/blogs/post/653019, couldn't keep quite myself. Entered another SELL order with 0.05 lot size, keeping the margin at around 300...
forexintel
A confirmation for the BEARISH trend in the coming weeks, as i have been mentioning in all my recent posts. The advantage of BUY low and SELL high is that there are so many low and high ZZ to trade even if we miss in the early part of the trend...