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JoelDarr

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Posts posted by JoelDarr


  1. the topic is a year old but from the looks of it and i would say this in relief, you are still trading, yeah lots of things can affect ones trading from manipulation on a large scale etc, which honestly it does happen, nothing is impossible anymore especially in the hands of those who can actually do it, but anyway, we move to where we are at, small scale traders, r retials traders, and try to contain the facts/situation where it is to our advantage, make the best of what info we hae and try to squeeze in a couple of pips profit along the way, and one way or another it should work just fine. we adjust, we move on :)

     

    I'd say that he is still trading DESPITE reading this thread :D


  2. Hi, trying to get back into learning about trading after a false start a few years back.

     

    I posted a longer piece in the beginner's forum but it immediately got rejected and I'm not sure why.

     

    So what exactly are you here for? Looking for an advice, a place to start, an experience, or something else?


  3. yes its rare, yes its not easy, but i have blown a good share of micro/premium accounts, and continued starting over with small amounts like 100-150 usd with hotforex, its not big but i treated it as a small side bet along the line that i work on when i have free time, after a couple of years that small account went from 3 digit to 4 digit, and the learning process continues and so on, dont rush things, never rush anything actually, keep the goal with in small manageble numbers.

     

    So basically the smaller your account is, the more slow approach it requires?


  4. Here’s the market outlook for the week:

     

    EURUSD

    Dominant bias: Bullish

    EURUSD went upwards 200 pips last week, testing the resistance line at 1.1350 before the current shallow retracement. Price may be able to target the resistance lines at 1.1400 and 1.1450 this week, but bulls might encounter some challenges doing this. There is a possibility of a pullback, which might bring another opportunity to go long at a lower price or bring an end to the current bullish outlook on the market.

     

    USDCHF

    Dominant bias: Bearish

    USDCHF went in the opposite direction to EURUSD, moving briefly below the support level at 0.9550, and then closing at 0.9600 on Friday. There is a Bearish Confirmation Pattern in the market, which means it may continue trending downwards, on the condition that EURUSD would continue trending upwards; otherwise a rally would ensue. A show of weakness in EURUSD and CHF (for CHF could experience some weakness against the majors this week) would help to bring about a rally in USDCHF.

     

    GBPUSD

    Dominant bias: Bearish

    GBPUSD went upwards from Tuesday to Friday last week, pulling back by over 130 pips on Friday, and closing above the accumulation territory at 1.3050. The bearish outlook remains in place, unless price goes upwards by at least, another 300 pips from the current location. Without this condition being fulfilled, GBPUSD might experience a further pullback, which might possibly be aided by a bearish movement on GBPCAD (since CAD would rally against other pairs this week). GBPCAD and GBPUSD sometimes get positively correlated. At times, it is helpful to know how conditions surrounding other pairs and crosses affect the instrument we focus on.

     

    USDJPY

    Dominant bias: Bearish

    This pair declined 170 pips on August 15 and 16, and then moved sideways for the rest of the week, all in the context of a downtrend. The outlook on the pair, plus other JPY pairs, continues to be bearish (though CADJPY could rally when CAD gains stamina). This week, the demand levels at 100.00, 99.50 and 99.00 might be tested. The demand levels at 100.00 and 99.50 were tested last week, but price could not stay below them.

     

    EURJPY

    Dominant bias: Neutral

    This cross has been consolidating for the last two weeks; an event which has brought about a neutral bias in the near term (although the bias is bearish in the long-term). Further sideways movement would continue to emphasize the neutral bias, until there is a breakout this week or next, which would most probably favor bears, as price goes towards the demand zones at 112.50, 112.00 and, especially 111.50.

     

    This forecast is concluded with the quote below:

     

    “Now I am devoted to Forex and fully focused on developing my trading strategy to become a full-time trader.” – Lukasz (source: Tradimo)

     

    Copyright: Tallinex.com

     

    Is it me, or do overall markets look quite bearish these days? Are we on the brink of rebound?

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