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Thread: Obaforex CopyFX (Technical Analysis)

  1. #1
    Trader 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. #31
    Trader Obaforex's Avatar
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    I have not been very active on forum in the past few trading days, but now am back

    Friday trading was terrible for me as I made a very obvious mistake of selling usdcad during news release which came out in support of the bulls, that cost me quite a good part of my trading account which I had to recover quickly yet very carefully

    Monday trading was quite boring as there were no really good chance of making good profits and all my opened trades eventually got stopped out at breakeven

    Tuesday however was good for me as I was able to recover my Friday loss with a little profit on it.

    Today, after waking up and examining my chart I realized a lot of big moves already occured across most pairs in the market, i thinks its too early for this but it happened anyway so am keeping my fingers crossed and watching how it will play out, i will keep watch for profitable trade setups it any unfold during the day.

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  3. #32
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    technical analysis is the best method in my opinion for getting of reading for the market and knowing of the direction of the market and so this will help in getting of good positions of trading and making of better profits, technical analysis is my favorite analysis and i do most of the analysis with it and make money with it always.

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  4. #33
    Trader ara's Avatar
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    Quote Originally Posted by Obaforex View Post
    I have not been very active on forum in the past few trading days, but now am back
    Nice mate,,, From the beginning I've liked your style in analyzing the market, so I feel happy when you back to the forum. One of the interesting things about you is that you used the volume indicator, cmiiw. I am one of the people who interested to learn volume indicator, so your trading journal thread is very useful for me personally.

    Best of luck

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  5. #34
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    Quote Originally Posted by sameeh View Post
    technical analysis is the best method in my opinion for getting of reading for the market and knowing of the direction of the market and so this will help in getting of good positions of trading and making of better profits, technical analysis is my favorite analysis and i do most of the analysis with it and make money with it always.
    Yeah I also like the technical method to use in my trading and if we are use them in our trades then within very short time period we will earn some good and big earning. All traders are need to work hard and make effort to learn forex and when our learning is complete then we will easily make good earning to use technical methods of trading.

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  6. #35
    Trader Obaforex's Avatar
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    This morning on opening my chart I realize that EURUSD and GBPUSD are already trading upwards as I have anticipated from last week trading, but this straight upward moves gives me concern as I am now beginning to think it may be short lived, so at the moment I will not place any trade until good trading setups present themselves and also considering my bias of possible move in either direction (continue up or reverse down), I am opened to the idea of both sell and buy (whichever one whose setup appears eventually) possibilities.

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  7. #36
    Trader Obaforex's Avatar
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    EURUSD TRADE IDEA

    Attachment 23296
    EURUSD H4 chart

    Price as been trading in a rectangle (a range) for some times with previous unsuccessful attempt to break on either sides, the latest been a consolidation of price around the top of this formation and presently another attempt to escape this region, should this happen then I think EURUSD may be clear for some more buying in anticipation of this pair climbing higher

    Attachment 23297
    EURUSD M15 chart

    Since am a short term trader my actually entry is based on similar idea occurring on the smaller time frame, a price drop back to today's low could return price to the previous trading range on H4 time frame

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  8. #37
    Trader Obaforex's Avatar
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    Update on my EURUSD trade

    Attachment 23299
    EURUSD chart update

    Already my profit target for today as been reach and I was able to bank about 47pips each on two of my opened trades, although I still think this upward move will contue, however am taking my profits for now and reevaluating how price will move from here. Most possible scenario is for price to make one more high today and consolidate around there or , it might simply switch into consolidation from around here.

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  9. #38
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    Obaforex, With the look of things on my daily time frame here, I think EURUSD is about making more upwards movement, therefore If I were you I would still hold it, I am buying it on my demo trading account, doing some testing so as to get ready to fund my copyfx account, well, good you are out with some profits.

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  10. #39
    Trader Obaforex's Avatar
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    Quote Originally Posted by Real View Post
    Obaforex, With the look of things on my daily time frame here, I think EURUSD is about making more upwards movement, therefore If I were you I would still hold it, I am buying it on my demo trading account, doing some testing so as to get ready to fund my copyfx account, well, good you are out with some profits.
    Yeah I see the possibility of more upward moves too, but so far today this pair as practically been going up all through the day and this makes me a little skeptical about things. For now my plan is to let the market show its hands (play its tricks) and i will decide how best to continue the trade when things seems clearer. If a downward correction occur I might restart the buying when the upward move continue

    - - - Updated - - -

    My USDJPY trade idea

    Attachment 23300
    USDJPY M15 Chart

    I just saw this setup now and it looks good to me. Overall on the large time frame this pair is in an uptrend, also it as been trading upwards throughout today and as now made a considerable pull back to retest the previous high of higher time frame, also there is a small but nice hammer on the H1 time frame that subject that this pair could resume its upward move. So am curious to see how this plays out.

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  11. #40
    Trader Obaforex's Avatar
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    Update on my USDJPY trade

    Attachment 23305
    USDJPY chart update

    After retesting previous high I decide to close this trade and call it a day on trading today. Although this pair has potential to keep growing with first target at 110.30. But my trading pattern is to close my trade within the same trading day. So for me its good enough here for today. I will have to reanalyze the market tomorrow for more profitable setups.

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