[postlink]https://forex-tech21th.blogspot.com/2010/07/blog-post.html[/postlink]
[postlink]https://forex-tech21th.blogspot.com/2010/03/chart-analysis-eurusd.html[/postlink]I think I will give chart analysis from now on. Its easier to do and easier for you guys to get confused :). First up is EurUsd. Not very hard to trade actually once you know the direction.
Ok lets go to the confusing part. That is the charts.
There you go. Weekly chart for starters. Can any of you guess which way is EU going? From the looks of it, EU is really going down and its a fast one. Easy isn't it?
Next chart please. 1 chart isn't going to get anyone confused.
Next is the Daily chart. Guess what, daily is also pointing down but at the moment it is in oversold position. CCI is way down there and making a U turn. Expect correction at daily level. So far 2 charts says EU down with a correction coming.
Another chart. Anyone confused yet???
This is the hourly chart. We can see where the correction is. Its really climbing now. So before anyone get anymore confuse I would say wait for the hourly chart to point down then you sell. Plan for the worse hope for the best. Keep your money management tight and you may survive the storm.
Btw dont sell EU yet. That sell line is for me to mark S&R. If EU do go down next target is 1.30 and 1.25 based on S&R on weekly chart.
Now the question is, how long do we have to wait before selling EU. The answer is I dont know. Just wait and see. It is what Forex is. Anyone here still confused?? I do :)
Ok lets go to the confusing part. That is the charts.
There you go. Weekly chart for starters. Can any of you guess which way is EU going? From the looks of it, EU is really going down and its a fast one. Easy isn't it?
Next chart please. 1 chart isn't going to get anyone confused.
Next is the Daily chart. Guess what, daily is also pointing down but at the moment it is in oversold position. CCI is way down there and making a U turn. Expect correction at daily level. So far 2 charts says EU down with a correction coming.
Another chart. Anyone confused yet???
This is the hourly chart. We can see where the correction is. Its really climbing now. So before anyone get anymore confuse I would say wait for the hourly chart to point down then you sell. Plan for the worse hope for the best. Keep your money management tight and you may survive the storm.
Btw dont sell EU yet. That sell line is for me to mark S&R. If EU do go down next target is 1.30 and 1.25 based on S&R on weekly chart.
Now the question is, how long do we have to wait before selling EU. The answer is I dont know. Just wait and see. It is what Forex is. Anyone here still confused?? I do :)
CHART ANALYSIS - EURUSD
[postlink]https://forex-tech21th.blogspot.com/2010/03/its-not-pips-but-profit-in-forex.html[/postlink]You can actually tell if someone is new in Forex by the way they count their pips or profit. When people starts forex they count pips. They can have hundreds of pips a day and yet their profit is low. This is due to the low risk reward ratio they have taken.
Once you are older in Forex, you will see the ratio. No point of taking hundreds of pips when the profit is low. So you start to take high risk high return trade. These trades do not give you high pips but the profit margin is high.
That is how money is to be made in Forex. You actually manage your risk and take profit from it. For today as of now, I already taken 3 trades. 2 profit trades and 1 lost trade. My account grows 37%. Not bad for a slow Monday.
For the answer to Forex, once you know it you will feel helpless. No matter how smart or brilliant you are it counts for absolutely nothing here. I have Banking and IT qualification. Did that help me? 2 different qualification did not help me one bit here. Made me want to cry when I found it out.
Hunt pips but count profit. Good Luck
Once you are older in Forex, you will see the ratio. No point of taking hundreds of pips when the profit is low. So you start to take high risk high return trade. These trades do not give you high pips but the profit margin is high.
That is how money is to be made in Forex. You actually manage your risk and take profit from it. For today as of now, I already taken 3 trades. 2 profit trades and 1 lost trade. My account grows 37%. Not bad for a slow Monday.
For the answer to Forex, once you know it you will feel helpless. No matter how smart or brilliant you are it counts for absolutely nothing here. I have Banking and IT qualification. Did that help me? 2 different qualification did not help me one bit here. Made me want to cry when I found it out.
Hunt pips but count profit. Good Luck
ITS NOT PIPS BUT PROFIT IN FOREX
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