I hope you had a wonderful month and your account is growing slowly whatever strategy you are using in your daily trading. Small growths are something we can celebrate as it helps grow confidence as well as it adds money to our bank accounts and maybe even helping pay for our bills. Goodbye September, welcome October.
As we keep growing together I wish to take this chance to share some trades that i will be looking at during the course of the week.I will try give the best charts to you but will not be giving you entry points due to various reasons.
The set-ups will often develop very good trade set-ups and its up to you to take the trades when you feel they are most appropriate. Remember to risk what you can afford to lose and trade with care.
Also, remember to use reasonable stops and take profits. It is always good that i share that sometimes trade set-ups change and its up to us to follow the markets. We must at all times remember that we are price action wave traders. We in this case standing for the trade set-ups that i will be sharing in the next few minutes.
The set-ups are however my personal analysis of the market and different views by other column writers are allowed.It is normal to differ at times so please don’t take this trades as gospel truth. Do your analysis and take trades that you are comfortable with.
Please also don’t try to catch every trade hoping to be rich in a single day.
Below are some of the rules we use before taking any trade.
- Structure drawing (draw trend lines on past price chart data)
- Pattern identification
- Future indication (reading indicator for future wave)
- Future wave (drawing of the future wave using future indication from indicator
- Future reversal point (identify points where the pattern can reverse)
- GBPCHF 4 hrs
Only sell after a strong breakdown on the trend line and a completion of the correction. You can use indicators to check whether the correction has completed.
- GBPUSD 1hr
There are both trades that can be taken on this pair. Only buy after the completion of the correction.The first impulse up as already appeared. remember to use stops in the buy because we will be trading against the long term trend. I would personally recommend waiting for the top to sell.
There are also both buy and sell trades here….look at the bottom reaction before buying. Sell trade from the top the best trade if not experienced.
The trade set-ups can go on and on in almost all trading pairs…I would prefer that you take a look into the course in the website to learn more on how to identify the trade set-ups yourself. You can also follow us on facebook
for more trade set-ups from the team. Feel free to comment on the trade set-ups and to follow on the outcomes of the trade analysis that we do. Last but not least make sure that you invest in education if you really want to move your trading to the next level. Forex trading is not a get rich quick scheme.
Don’t trade on strategies that you do not understand because you are likely to lose your money.All the best in your journey throughout the week and I hope to hear from you all that you are making profits and growing. I will try update the trades that I have shared in the facebook channel when i get time so make sure to like and keep following.
Thank you in advance.