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GBPAUD double News retracement trade +204 Pip potentialHad major news on Both currencies in this pair. UK parliament vote on Brexit sent GBP down and a better ten expected AUD CPI sent AUD up. This setup will try an harness both results I am using fib levels using the Pre Uk vote price (which is not the daily high) and the low after the Aud news (which still may change so we will have to re draw the fibs) Using 2 even entries at the following fib levels: .382 = 1.8284 .50 = 1.8307 (yes I know it's not a real fib level) I do not expect this market to retrace more than .50 (which is where the Kejun Sen = Bold Blue line will probably be) Stop = 1.8353 and will tighten as we keep it 10 pips above the Kejun Sen Risk = 58 pips Profit Target = 1.618 ext. = 1.8091 Reward = +204 Pips Current RRR = 3.5 - 1
Short
by AGold54
Possible GBP/CAD Short position!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 1-4 days Actions on - A – Activating Event Currency Pair creating a Double Top . B – Beliefs Market will find support at current levels at @ 1.7444 level and move towards the first Target 1 level @ 0.7100 FX:GBPCAD Trade Management Entered @ Sign up for details Stop Loss @ Sign up for details Target 1 @ 1.7100 Target 2 @ 1.6900 Risk/Reward @ 3.0 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow Thank you for your support :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
OIL: THE CHANCE OF the WEEK? High potential trade!#ChanceHey tradomaniacs, welcome to another free signal! This is a plan for the upcoming Cruide Oil Inventories! We`ve finally seen a waiting market which is currently consolidating after this huge Sell-Off! It seems like the market is just waiting for positive news which are very likely since the OPEX has found an agreement to reduce the output of oil. (Less supply, higher price) The U.S. API Weekly Cruide Oil Stock has shown an amazing result of -10.180m instead of the previous 5.360M! That`s a good difference. I expect the same good results for the Cruide Oil Inventories since the forecast is way higher than the previous result for today! Important: OIL is very volatile! Don`t use tight stop-loss-levels to reduce the risk of SL-fishing! OIL is very very volatile! Beginners should not trade this! Daytrader: Do not re-enter after a loser! You would just burn your money! ---------------------------------------------------------- Type: Day - Swingtrade Buy-Stop: 53,80 Stop-Loss: 50,83 Target 1 INTRADAY: 57,97 Target 2 SWING: 60,00 Target 3: 62,66 Risk-Reward: 2,98 ------------------------------------------------ ---------- LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
TVC:USOILLong
by Trading2ez
2
Elements of a Successful Trading Plan 102SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Elements of a Successful Trading Plan 102 2. Risk Level Managing a risk in trading is essential if a person wishes to make profitable investments. As a trader, one cannot control the market but he/ she do have the capacity to change what can be done as circumstances require. They need to adapt the changes as the market conditions evolve. A person does not take a position and hopes the market acts in your favour. Managing trading risk will be a key factor in an individual’s long term success as a trader. As the market, structure changes, the risk profile of trade will also change. Risk will vary at different points of a trade and needs to be managed in a manner, which is consistent with the individual style of each trader. This will be dependent on each trader’s personality and time frame. Assessing market conditions can be categorised into core areas where one need to consider the risk profile in his/ her trade. This risk needs to be assessed also in line with your trading objectives. Active traders will tend to add and take off risk for each new swing in the market, whilst passive investors will ride minor retracements looking to achieve larger reward targets. Following are some areas where risk can be managed throughout a trade as well as what to look out for at these points that indicate that the risk is increasing; • At Entry: Stop loss risk. • Distance from Moving Average: Price exhaustion risk. • “M” Pattern: Price retest failure risk. • Candlestick Tails and Shadows: Price rejection risk. • Period Close: Price rejection risk. • Reducing Range: Trend momentum risk. • Support or Resistance: Price level failure risk. It is necessary that how an individual plan to address the risk management needs to be included as a critical part of the trading plan in order to protect the invested capital and preserve the profits. One need to have strategies in place for how he will deal with the different areas throughout a trade and how he will know when risk is increasing to a point where action needs to be taken either to protect profits or capital. Follow your trading plan, Remain disciplined and keep learning :) More elements will follow... Like, share, Comment and follow us to keep updated on our professional trading ideas and education :)
FX_IDC:USDWTIEducation
by SMPTrader