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Forex Is my technical analysis good?

Discussion in 'Forex Forum' started by pbylina, Mar 20, 2015.

  1. pbylina

    pbylina Guest

    Am I doing my TA right? Where will price most likely go next? Thanks.

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  2. Diego San

    Diego San Member

    Dec 10, 2019
    Price action is one of important thing every trader should know about. Price action refers to candlestick patterns, support/resistance, supply and demand, and so on. I'm not making a trade-off for the bare chart, and the skill itself is very valuable. As a trader, you should develop, and there are many things to learn. Indicators alone cannot make a trade-off. It will limit your trading capabilities.
  3. Punkcity

    Punkcity Well-Known Member

    Mar 31, 2020
    CEO, manager of sublease my account name.inc
    Troll tag team one accounts head , Skipptophia.
    To answer where is it going depends on if your a bear or a bull, what the time scale is for the chart, the stock is trending sideways. If your a bear you possibly have some skin in the game doing a long term shorting trade. There are no price indicators on the chart so no one can give you a % trailing stop. The market will go where it wants to . You can have 3 paths = 1) sideways, 2) down ,3) up.

    The bulls are waiting for the possible break out above the last three lower highs, maybe have an oco a couple of pips above last 3 highs or have a position already on the retraction from last lowest low. They would be confident as the chart is still showing a profit on the trade

    The bears are doing the same in reverse , if in the new trade at the sideways first low with a stop at x pips above current lower high etc.

    The scalper has both trade in place {oco} and is in a good position to capture either trend if it breaks out.Of course scalper is mindful of the fibo extensions/retractions The scalper only worry is a whiplash trade happening but that chart seems not very volatile

    From a Gann point of view your short from highest high to the mid chart correction ,then long until stopped out on the BIG MOVE then staying short even during the latest sideways movement, assuming that the chart is NOT a weekly or monthly chart, with the correct stop loss.

    If its an hour or less chart, scalpers rule as time is important.


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