Daily Tough Forex Trading decisions. What would you do? Free Forex trading courses & training

16 Comments

  1. I would use the DIAD to trade a buy because of the crossover trend indicator from the RSI Trend trader info.

  2. Hi Alex, What is the support resistance indicator you are using in the this youtube channel? Please advise

  3. If your execution chart is 4H my analysis suggests a long. On the Daily a long is forming but too early to trade. Straddle is good for doubt – 20 – 30 pips outside price action on execution chart.

  4. I would straddle . Once direction is confirmed i would top up on riskfree basis to maximise potential profit while protecting myself if it goes against me .i would be trailing the stop to the target.if the ďeal doesnt work out at least i lived to trade another day.

  5. This is a great idea. No trade right now. The market has been consolidating on the daily time frame for over two weeks. Wait for some movement on the daily timeframe.

  6. I am almost sure that it will go down.
    I will short it right now at 140.23 with a stop loss at 140.95 and a take profit at 137.5
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  7. It looks like the short run 1 hour chart is going to up a little bit. but your daily and 4 hour RSI is saying this is a sell situation. basically. sit on it for a bit. watch that 1 hour for the turn around and then go for it. If this breaks the nice channel going on in the daily this is a huge move. If it fails to break the channel you could always just get on the coming bounce back up to the top. Either way you win here. place a sell below the lowest point the channel hit. or just sell when your 1 hour RSI falls below 20. preferably both. As for the up. Well. I would be waiting for that 4 hour RSI to come back above 20 and market price to break back into the channel zone. Given your daily trend at the moment is basically up. i would expect this to be more likely to break the channel up not down. right now….with the way it sits. you sit and watch for a bit. but be ready to pounce either way. This is a nice pip catch either way.

  8. Not gonna take a trade. Unless I see a clear Divergence & im using RSI (6) for that. The GBPNZD had that in the weekly chart 4-5 candles ago would be a good Short.

  9. Hi Alex, For this situation I would probably not take a trade,but if I was to trade this setup I would place 2 pending orders [ buy and sell stop ] with low risk 1% outside the channel area with a S/L of 1.5 x ATR for the 1 hr T/F and a target the width of the channel. Thanks for the great information you provide to traders .

  10. HI Alex, Here is my startegy: Buy GBPJPY at 140.27 STOP LOSS at 139.87 TARGET 141.27. Here is my Logic.Since GBPUSD downside seem limited based on price action last couple of days and USDJPY capture the 109.00 mark therefore GBPJPY is a strong bullish setup.

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