Pro7 PA trading analysis 28+GOLD | Page 120 | Metals Mine

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Pro7 PA trading analysis 28+GOLD

  • #2,381
  • Dec 1, 2020 7:32am Dec 1, 2020 7:32am
Hi Prozor. Could you please give the same example for gold but on a daily graph.
Thank you
  • #2,382
  • Dec 1, 2020 8:09am Dec 1, 2020 8:09am
Do you consider the middle point 2 different S&D areas or just one?
Attached Image (click to enlarge)
Click to Enlarge Name: example.png Size: 39 KB
  • #2,383
  • Dec 1, 2020 8:12am Dec 1, 2020 8:12am
Gbpusd could possibly be a buy
  • #2,384
  • Dec 1, 2020 10:10am Dec 1, 2020 10:10am
Quoting daemondeluxe
Do you consider the middle point 2 different S&D areas or just one? {image}
depend on TF and PA in that area and because of this I have line for each TF from MN to H1
Forex can only be understood backwards, but it must be traded forwards.
  • #2,385
  • Dec 1, 2020 10:20am Dec 1, 2020 10:20am
Quoting Houtbay
Hi Prozor. Could you please give the same example for gold but on a daily graph. Thank you
example
Attached Image (click to enlarge)
Click to Enlarge Name: example.png Size: 40 KB
Forex can only be understood backwards, but it must be traded forwards.
  • #2,386
  • Dec 1, 2020 10:49am Dec 1, 2020 10:49am
EURNZD
look @ D1 chart
what do you see???
Attached Image (click to enlarge)
Click to Enlarge Name: eurnzd.png Size: 36 KB
Forex can only be understood backwards, but it must be traded forwards.
  • #2,387
  • Dec 1, 2020 11:07am Dec 1, 2020 11:07am
Quoting Houtbay
Prozor your pick of chfjpy a great selection, supported by w1 D1 and H4. ..

selling JPY was hope you jump in (CADJPY, CHFJPY, EURJPY & GBPJPY) posted here all TP
Forex can only be understood backwards, but it must be traded forwards.
  • #2,388
  • Dec 1, 2020 11:09am Dec 1, 2020 11:09am
Is this not the best game in town. On weekends I can’t wait for Monday to trade. Thanks for making our learning experiences meaningful. This is by far the best site on forex factory.
  • #2,389
  • Dec 1, 2020 11:21am Dec 1, 2020 11:21am
Eurnzd from you graph are you selling. Is it moving into resistance?
  • #2,390
  • Dec 1, 2020 11:25am Dec 1, 2020 11:25am
Quoting Houtbay
Is this not the best game in town. On weekends I can’t wait for Monday to trade. Thanks for making our learning experiences meaningful. This is by far the best site on forex factory.
you have some very nice calls
USDCHF sell
EURUSD buy
GBPUSD buy
Forex can only be understood backwards, but it must be traded forwards.
  • #2,391
  • Dec 1, 2020 11:32am Dec 1, 2020 11:32am
Eurnzd is a mixed picture. Looks like price wants to go higher. Monthly strong, daily weak and 4 hour strong.
  • #2,392
  • Dec 1, 2020 11:36am Dec 1, 2020 11:36am
Quoting Houtbay
Eurnzd from you graph are you selling. Is it moving into resistance?
EURNZD
D1 buy - selling below 1.70387
H4 buy - sell confirmations 1.70179
H1 loosing buy momentum PA should not pass 1.70703

TP 1.69063 - 1.68625

pay attention to H4 sell signal
Attached Image
Forex can only be understood backwards, but it must be traded forwards.
  • #2,393
  • Dec 1, 2020 11:43am Dec 1, 2020 11:43am
The market has revealed its hand now for eurnzd.
  • #2,394
  • Dec 1, 2020 12:31pm Dec 1, 2020 12:31pm
Prozor tomorrow can you talk about money management and risk. Many thanks
  • #2,395
  • Dec 1, 2020 5:55pm Dec 1, 2020 5:55pm
Quoting Houtbay
Prozor tomorrow can you talk about money management and risk. Many thanks
Amount of Equity LostAmount of Return Necessary to Restore to Original Equity Value
25% - 33%
50% - 100%
75% - 400%
90% - 1,000%

Learning Tough Lessons
Traders can avoid this fate by controlling their risks through stop losses. In Jack Schwager's famous book "Market Wizards" (1989), day trader and trend follower Larry Hite offers this practical advice:
"Never risk more than 1% of total equity on any trade. By only risking 1%, I am indifferent to any individual trade."
This is a very good approach. A trader can be wrong 20 times in a row and still have 80% of his or her equity left.
Forex can only be understood backwards, but it must be traded forwards.
  • #2,396
  • Dec 1, 2020 10:21pm Dec 1, 2020 10:21pm
Morning Prozor. So is this the only rule you follow in terms of money management?
My children break up today for school holidays, so I am going to be in and out. Prozor do you stop trading from the 15 Dec- 15Jan or is this an urban myth?
  • #2,397
  • Dec 1, 2020 10:39pm Dec 1, 2020 10:39pm
Also when you trade do you stick to one cross so that you are more focused when trading or do you take many crosses at the same time if they meet your selection criteria.
  • #2,398
  • Dec 1, 2020 10:51pm Dec 1, 2020 10:51pm
Last weekend I went into the cable Gbpusd site on forex factory because I took a long position on this pair. It is amazing how many different opinions float around the movement of one currency.
  • #2,399
  • Dec 2, 2020 1:46am Dec 2, 2020 1:46am
What is the best time to enter the market in the morning? From my trades today it seems like 9.30 am, half an hour before U.K opens. Is this correct or is there a better time?
  • #2,400
  • Dec 2, 2020 2:09am Dec 2, 2020 2:09am
good morning to all
Forex can only be understood backwards, but it must be traded forwards.
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