Pro7 PA trading analysis 28+GOLD | Page 142 | Metals Mine

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Pro7 PA trading analysis 28+GOLD

  • #2,821
  • Jan 6, 2021 7:07pm Jan 6, 2021 7:07pm
For transparency, I have a small position long in the NZDUSD (.5) with a TP at .73134 (just 9pips). Not looking amazing at the moment, and again, the Asian session may be a little lacklustre or coming into overhead resistance. Let's see how we play out. I may just take a small loss which is 0.002% loss (well nothing like keeping my losses small when I feel I have made a wrong decision!). I don't usually take a full 1% loss on anything, usually try and only lose 0.5% where possible to preserve capital until I become way more confident!
  • #2,822
  • Jan 6, 2021 7:23pm Jan 6, 2021 7:23pm
Quoting four.owls
For transparency, I have a small position long in the NZDUSD (.5) with a TP at .73134 (just 9pips). Not looking amazing at the moment, and again, the Asian session may be a little lacklustre or coming into overhead resistance. Let's see how we play out. I may just take a small loss which is 0.002% loss (well nothing like keeping my losses small when I feel I have made a wrong decision!). I don't usually take a full 1% loss on anything, usually try and only lose 0.5% where possible to preserve capital until I become way more confident!
I think that USD is still going to be dumped. UJ has a minimum downside target of 101. That means NZD/USD still can potentially move 100-200 pips northwards. Just my thoughts. Since your margin is able to take it, I see little reason why you should be looking to close this trade in a loss. In fact, even intraday, I believe it would turn out to be a winning trade.
  • #2,823
  • Jan 6, 2021 11:03pm Jan 6, 2021 11:03pm
Happy New Year everyone! I am buying gold now and will wait for long gold up!!!
Stay green year!
  • #2,824
  • Jan 6, 2021 11:27pm Jan 6, 2021 11:27pm
Gold is a possible buy at 1919.50.
  • #2,825
  • Jan 6, 2021 11:51pm Jan 6, 2021 11:51pm
Quoting TopDogK
{quote} I think that USD is still going to be dumped. UJ has a minimum downside target of 101. That means NZD/USD still can potentially move 100-200 pips northwards. Just my thoughts. Since your margin is able to take it, I see little reason why you should be looking to close this trade in a loss. In fact, even intraday, I believe it would turn out to be a winning trade.
Hi there
Thanks kindly, but not sure that it will pull through for now, and well, I am fast approaching my limits on what I want to lose (I am at the 1/2 percent mark now). We'll see but I am starting to see a pullback or weakness at the present. I admit my entry wasn't the best and as long as I take away a learning lesson then that helps make up for the loss if I can not repeat it!
  • #2,826
  • Jan 7, 2021 2:26am Jan 7, 2021 2:26am
One can buy gold again
  • #2,827
  • Jan 7, 2021 2:34am Jan 7, 2021 2:34am
Sorry wrong call on gold. That’s why I prefer the currencies, they are less volatile.
  • #2,828
  • Jan 7, 2021 2:53am Jan 7, 2021 2:53am
good morning to all
Forex can only be understood backwards, but it must be traded forwards.
  • #2,829
  • Jan 7, 2021 3:10am Jan 7, 2021 3:10am
Quoting four.owls
Hello everyone! I just want to ask advice! I am an intermediate trader, fulltime that gets by (especially once I stop overthinking or assuming the worst!). I am finalizing my trading system and learning to work to my boundaries and rules. The question is, should I bother trading the Asian session at all? Some have told me no, others have said that an opportunity is an opportunity regardless of time. It's just that I find that I can go in circles during the Asian session or it may not be as productive. I have been advised by another full time trader...
hi four.owls,
any time is good for trading.

in my experience only difference is how fast PA will move in any direction.
if I remember correctly world (financial) market is divided in 3 area, and approximately each area take:
EU = 50%
US = 30%
AS = 20%
more money faster PA move
Forex can only be understood backwards, but it must be traded forwards.
  • #2,830
  • Edited 3:55am Jan 7, 2021 3:38am | Edited 3:55am
Quoting four.owls
For transparency, I have a small position long in the NZDUSD (.5) with a TP at .73134 (just 9pips). Not looking amazing at the moment, and again, the Asian session may be a little lacklustre or coming into overhead resistance. Let's see how we play out. I may just take a small loss which is 0.002% loss (well nothing like keeping my losses small when I feel I have made a wrong decision!). I don't usually take a full 1% loss on anything, usually try and only lose 0.5% where possible to preserve capital until I become way more confident!
NZDUSD
PA move in pips and how I calculate them
Day = 66
Week = 141
Month = 310
Quarter = 750
Year = 1770

hope above numbers will help you

EDIT
look how much PA move this week
Low was 0.71530
High was 0.73155
difference 162 pips

you buy entry @ 0.73134 was to late
Forex can only be understood backwards, but it must be traded forwards.
  • #2,831
  • Jan 7, 2021 4:53am Jan 7, 2021 4:53am
Quoting prozor7
{quote} hi four.owls, any time is good for trading. in my experience only difference is how fast PA will move in any direction. if I remember correctly world (financial) market is divided in 3 area, and approximately each area take: EU = 50% US = 30% AS = 20% more money faster PA move
Thanks Prozor for your time on both responses! I really appreciate it and yes I am well and truly out of NZDUSD. I know mostly what I did wrong and well, to be honest, I did it to myself. This wasn't a trade that went wrong because of market randomness, this was my error, so I accept it and learn from it.
I will go through your answers tomorrow and for now, I will retreat and shake the loss off. Another day tomorrow, more 'fish in the sea'!!
Thanks for your encouragement and help!
  • #2,832
  • Jan 7, 2021 5:31am Jan 7, 2021 5:31am
Hi Prozor. When you trade do you only use the weekly for pip analysis. So it’s better to sell at the top of the weekly and buy at the bottom. Thank you. I could not understand your day, week, month, quarter, year. How did you come to those numbers?
  • #2,833
  • Jan 7, 2021 7:28am Jan 7, 2021 7:28am
Quoting Houtbay
When you trade do you only use the weekly for pip analysis.
No.
I use all TF for trade. I'm entering trade based on currency correlations, watching each symbol to show how strong it is.

Quoting Houtbay
So it’s better to sell at the top of the weekly and buy at the bottom.
absolutely.
D1 showing trend, H4 showing pullback or trend confirmation.

Quoting Houtbay
I could not understand your day, week, month, quarter, year.
explanation in post3

Quoting Houtbay
How did you come to those numbers?
mathematics calculation is based on probabilities & time.
how I do that, is a "trade mark"
Forex can only be understood backwards, but it must be traded forwards.
  • #2,834
  • Jan 7, 2021 7:58am Jan 7, 2021 7:58am
Thank you. I still cannot activate your system on my laptop. Will try another computer. I trade a lot also off a phone. You have been a huge help and inspiration to my trading journey.
  • #2,835
  • Jan 7, 2021 9:51am Jan 7, 2021 9:51am
Quoting Houtbay
Thank you. I still cannot activate your system on my laptop. Will try another computer. I trade a lot also off a phone. You have been a huge help and inspiration to my trading journey.
if you post chart I will easier understood what do you see and maybe help you to have less of this "Sorry wrong call on ... ."
Forex can only be understood backwards, but it must be traded forwards.
  • #2,836
  • Jan 7, 2021 9:55am Jan 7, 2021 9:55am
GOLD
H4 indicate buy @ 1917 but gap is not closed

possible scenario if PA break 1917 up to 1927 - 1936 than down to 1893

no GOLD trade for me
Forex can only be understood backwards, but it must be traded forwards.
  • #2,837
  • Jan 7, 2021 10:10am Jan 7, 2021 10:10am
Prozor I am better understanding your approach. You really keep it simple, and logical. Your approach what can I say is reliable, consistent and powerful. Thank you.
  • #2,838
  • Jan 7, 2021 10:23am Jan 7, 2021 10:23am
Gold possibly down to 1901 and then buy back.
  • #2,839
  • Jan 7, 2021 11:33am Jan 7, 2021 11:33am
Gbpusd has possibly broken support.
  • #2,840
  • Jan 7, 2021 11:43am Jan 7, 2021 11:43am
Gbpusd support has become resistance. Prozor how do you determine when support will be broken?
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