FRIDAY UPDATE

After FOMC as predicted event, Price create new opportunity for a small shorts. If London session price go up fast then it is confirmed a good chance to short for 30-40 pips profit.

Weekend Update..Long Opportunity

Big Uptrend of Cable made it difficult to find potential setup. Finally there is good setup for next week. Small Gap and Herd Mentality sync in Harmony but first price should beat the whole sale zone.

POUND UPDATE TARGET HIT!!

After Reach the Price Target

There are 2 probabilities after price hit the target. Continuation or Reversal..

I trade mostly on reversal trade when price hit key level. I trade continuation trade when target is possible to hit.

The new idea just comes out is doing the Reversal Trade then get Ready to HEDGE if price do the breakout.

There is high possibility after the HEDGE price do real Reversal.

If that happened I will do the breakout strategy. The breakout order should be on worse price than first trade.

If price keep continue after the breakout we will wait until price hit the new TARGET. Then we can cut the profitable hedge and resume with the reversal strategy.

Why using HEDGE than Cut Loss? Hedging is just subjective preference. For me it will push my brain to keep monitoring the market and react accordingly.

With cut loss sometimes I just done for the day..shut down, act of laziness...

GBP and XAU Weekend Update

GBP Price Target identified nicely and as from now on I will LONG until the Area is Hit.
All GU and GJ have the same structure...Coincidence??? or just MM algos do their jobs...time will tell....

XAU on the other hand is not very clear but from the Herd Psychology it is likely to go down first to wash all Weak Hands.
As long as price not breaking prev day high it is good to short.

BIG RALLY BREXIT BULLSH*T and ADVANCE TRADING IDEAS

Finally GBP get out from boring grinding moves for weeks. More important thing is I want to document a new strategy and maybe a breakthrough of Trading World...

This is 5min Hang Seng Chart because I am too lazy looking for Forex Example.

We learn about magnet and stuff using fibonacci and TMA and here is what I found just now.

Instead of waiting the market to create new high so we can draw the fibo, why not projecting the high/low using the fibs???

We know that 62 area is a good retracement magnet before price resume the trend. Exploit this knowledge with this strategy:

1. Look for liquidation gap and stop loss spots between the high and low
2. Draw the fibs line so the gap and stops area rest nicely at 0.62 zone
3. Look at the new made high/low looking for more confirmation if price may reverse from the zone ( TMA, HERD AREA, or Other Oversold/Overbought Indicator)
4. Wait for the Price to Reach the 100% fibs area before do the counter trade
5. After the trade wait for the price reach the sweet 62 zone to take profit

  

WEDNESDAY UPDATE GBP and XAU

HTF TMA is needed to verifiy which way price likely to go. Today I was a fool shorting the extreme TMA reading. Also the pre London open looks like market will go down some more which I got fooled.

Luckily no harm made. Keep learning!!