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Thread: Obaforex CopyFX (Technical Analysis)

  1. #1
    Registered user Obaforex's Avatar
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    Obaforex CopyFX (Technical Analysis)

    Trader: Obaforex https://my.roboforex.com/en/copyfx/p...rs/show/38493/
    Forum nickname: Obaforex
    Account number: 2910753
    Server name: RoboForex-Pro
    Account type: CopyFx MT4 Pro-Standard
    Leverage: 1:1000
    Funds: 100.31 USD
    Rating: http://www.copyfx.com/ratings/rating-all/show/38493/

    Description of the subscription conditions:
    Scheme: Trader on profit
    Added on: 07 February 2018 04:15:28
    Started on: 07 February 2018 04:15:28
    Risk level: Medium
    Commission for profit: 30 %
    Amount of minimum deposit: 100 USD
    Investment period: 1 week

    i will be posting most of my market analysis here as time permits for documentation and also so that we can all discuss market analysis and help each other to succeed in trading from sharing ideas, also you can post questions and hopefully i will be able to respond in good time.

    Or you could just copy my trades if you like my trading result

    Note that i trade high risk for now so you might want to copy with small lot size but as my account balance increase this risk will be reduced but so far all is good even with high risk and mixed market trends

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  2. #101
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    I like the simplicity of the way you trade, that USD cad still has business to do with the sellers because of what is happening with the dollar presently, as long as the strength is reducing, definitely we are going to see a further drop which is something we cannot deny, Forex is beautiful when we have the right strategy and mindset.

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  3. #102
    Registered user Obaforex's Avatar
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    My GBPUSD trade idea

    Screenshot_2018-08-22-10-19-36.png
    GBPUSD M15 Chart

    Although concerns as regards uncertainty on brexit remains to weight heavily on GBP, but also the possibility of just one more or no rate hike for USD this year seems to make the USD even weaker at the moment. Also technically this pair as been in a very strong uptrend for some days now with very little to no corrections, this morning however this pair corrected downwards and now as broken back above the small downtrend 50% fibo level with good volume, so now I believe our low for today may be set and our bullish run continues unless fundamentals kick in later in the day as brexit negotiations are on going and FOMC statement is expected later today.

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  4. #103
    Registered user Obaforex's Avatar
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    My EURUSD trade idea

    Screenshot_2018-08-30-07-58-04.png
    EURUSD M15 Chart

    This is what I am currently looking at on the EURUSD pair, this pair has been in an uptrend for a while now and it seem to have made a correction of yesterday upward move and the correction did hit the 38.2 Fibonacci retracement, then formed a hammer on the M15 time frame and broke the downward correction trend line. From this observation I think our daily low may be set (although it's still very early in the day to be sure), however the risk to reward on this setup seems quite reasonable since stop loss is quite small and profit potential is quite large.

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  5. #104
    Registered user Obaforex's Avatar
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    Update on my EURUSD trade idea

    Screenshot_2018-08-30-14-43-39.png
    EURUSD M15 chart

    Buy initial buy trade setup didn't work and resulted in a loss but I later got a good chance to short this pair and that gave my enough profit to cover my loss from the first trade plus some profits too. And at the moment am considering more short depending on how well price correction happened as I will be looking out for corrections to around 38.2% or 50% Fibonacci correction of the downward move and a good candle confirmation around this region to improve my chances with more sell.

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  6. #105
    Registered user jamey's Avatar
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    I think your analysis is good. And your trading result is also great. If you can keep this result then you will get the crown of forex. Although the most of the traders are fail in forex, only five percent peoples are get success in forex. Forex is not for all people, only who have patience and descipline he can overcome in forex.

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  7. #106
    Registered user Obaforex's Avatar
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    My EURUSD trade idea

    Screenshot_2018-08-31-10-13-14.png
    EURUSD M15 chart

    This is my current view of the EURUSD pair. I expect the pair to trend downwards from here and most likely break below yesterday low. So far today we have not had any H1 candle close above any critical Fibonacci retracement levels of yesterday downward move, also price just broke below a small price range on the M15 time frame with a bearish engulfing candle, plus all news released this morning does not really seem to fuel the strength of the euro which gives more confidence to the sell technical setups

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  8. #107
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    EUR USD journey to the Bearish side has started, or maybe this is just a month end action of retracements until the real thing happens next month which is Bullish, the observation I have about EU is that it will sell and succeed in deceiving many Forex traders, thereafter it will get them trapped in bull and bear war.

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  9. #108
    Registered user Obaforex's Avatar
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    Update on EURUSD trade idea

    Screenshot_2018-08-31-14-07-15.png
    EURUSD M15 chart

    My EURUSD trade was a success, I hit my first take profit target and also almost hit my second take profit but considering we are already testing two key Fibonacci retracement levels I expect price to do some correction here before further fall, but since today is Friday a continuous move down from here too is possible however am not ready to bet on that. Instead I will just call it a week and begin my weekend right a way.

    - - - Updated - - -

    Quote Originally Posted by Leonvic View Post
    EUR USD journey to the Bearish side has started, or maybe this is just a month end action of retracements until the real thing happens next month which is Bullish, the observation I have about EU is that it will sell and succeed in deceiving many Forex traders, thereafter it will get them trapped in bull and bear war.
    You may be right about a bear trap.
    However looking at market fundamentals the USD is still more attractive to investors, sell off of USD we are presently having might simply be due to uncertainty about further rate hike this year which clearly Trump is against but seemed the logical thing to do for the Fed and a lot of investors who already bet that the rate hike will happen are now retracing their steps.
    Also technical wise on the D1 we still have a fairly solid downward trend, so on both sides I think the chances of a bull trap is more.
    However am just an intraday trader holding trades for hours so all this long term forecast are not really things i bother my head much about.

    I simply follow price anywhere it goes with my tight stop loss, if I hit it, fine, and if I don't, I make money.

    So its one step at a time, I only worry about the next turn, after that, the next turn, i hardly worry about the turn after the next turn.

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    Last edited by Obaforex; 08-31-2018 at 04:33 PM.

  10. #109
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    I just love your statement about following price wherever it leads, now that is the best slogan that every forex trader must have in mind, if you are not willing to take this seriously I guess trading is just not for you, back to eur usd, I think that this is just a month end action, the bulls still seem to have the upper hand front the higher time frames.

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  11. #110
    Registered user ara's Avatar
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    Quote Originally Posted by Obaforex View Post
    Update on EURUSD trade idea


    EURUSD M15 chart

    My EURUSD trade was a success, I hit my first take profit target and also almost hit my second take profit but considering we are already testing two key Fibonacci retracement levels I expect price to do some correction here before further fall, but since today is Friday a continuous move down from here too is possible however am not ready to bet on that. Instead I will just call it a week and begin my weekend right a way.
    Congratulations mate, You do your job well, I like your style of trading by relying only on simple analysis. I see you don't continue to managing your copyfx account, you continue your trading journal by managing another trading account, you look really professional in managing your trading journal. Best of luck mate.., I'm glad to see you always active in this trading journal.

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