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Thread: Makaveli Copyfx, support, resistance and breakout trading.

  1. #1
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    Makaveli Copyfx, support, resistance and breakout trading.

    Trader: Makaveli https://my.roboforex.com/en/copyfx/p...rs/show/39185/
    Account number: 2920359
    Server name: RoboForex-Pro
    Account type: CopyFx MT4 Pro-Standard
    Leverage: 1:1000
    Funds: 106.85 USD
    Rating: http://www.copyfx.com/ratings/rating-all/show/39185/

    Description of the subscription conditions:
    Scheme: Trader on commission
    Added on: 23 February 2018 11:43:09
    Started on: 23 February 2018 11:43:09
    Risk level: High
    Commission per lot: 3 USD
    Amount of minimum deposit: 100 USD
    Investment period: 4 weeks


    My strategy is the normal traditional trading strategy, use of support and resistance. In short term called technical analysis. The candle stick is also used in evaluation on how to trade it.

    Example.

    USDJPY is bearish on the daily time frame for a long time. Therefore giving a good chance to follow the trend. So I switch to the 4 Hour time frame.

    At 107.866 is a little resistance with sell signal candles around it. It is a good signal to go on short whilst the daily time frame is still bearish. My Tp is at the next support. It will make it past that zone, but I don't want to be greedy.

    Picture of the chart

    Attachment 22527

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  2. #111
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    Quote Originally Posted by mexima View Post
    well good spot because market has made a quit strong resistance level at 1.1320 and retrace that price 3 time after hiting it how that trade should be short term or intra day because this is the small resistance and the trend is also in bullish so i hope soon market will break it and continue the bullish trend.
    I am already out of that trades, so it can be bullish if it wants to right now. But if I am to make good analysis, then I will decide to sell more on this pair, because there is still space before the next support at the 1.11914 level.

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  3. #112
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    GBPUSD is showing some interest in some little pull back may before the down trend continues. Price is at support level and then though there is no candlestick confirming the buy signal, but the support levels seems strong and will make price move up to the next closest resistance at least before we see the bearish movement.

    GBPUSDH1.png

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  4. #113
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    GBPUSDH1.png

    The trend is your friend and respect the trend. That is what I am just going to do on GU since it has taken a huge fall since this week. A good winning probability trade.

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    Nice one, that GBP USD falling was just long overdue, I did not know that the fall will be this much but I anticipated it when GBP USD repeated tested a daily support without breaking it, all efforts to go up after the test where largely unsuccessful, I want to say big congratulations for the profit you were able to get from this, I made a few profit from sell as well, now a retracement should be expected.

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  6. #115
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    GBPUSDH4.png

    simisola, I have also gotten a good recent good sell now, but the candle in the 4H time frame has got some more minutes left to close. Therefore, I have entered already being that the resistance level agrees to my analysis, I hope to see some bearish movement even more.

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  7. #116
    Rookie ola4real's Avatar
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    Quote Originally Posted by Makaveli View Post
    GBPUSDH4.png

    simisola, I have also gotten a good recent good sell now, but the candle in the 4H time frame has got some more minutes left to close. Therefore, I have entered already being that the resistance level agrees to my analysis, I hope to see some bearish movement even more.
    That is nice of you, the selling of GBPUSD is what i think that is supposed to be done by forex traders at this season. Only that the forex traders who are selling this asset should try as much as possible to let the short term analysis agrees with it. Because, with what i am seeing presently, there will still be a correction upwards before this selling, that is the mistake some traders make, they don't check likely correction before the trend will resume back.

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  8. #117
    Trader mexima's Avatar
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    Quote Originally Posted by Makaveli View Post
    GBPUSDH4.png

    simisola, I have also gotten a good recent good sell now, but the candle in the 4H time frame has got some more minutes left to close. Therefore, I have entered already being that the resistance level agrees to my analysis, I hope to see some bearish movement even more.
    this trade is extremely risky trading because if you open the d1 chart then you will se the doji candle and on the h4 market has made pin bar which means on h4 and on d1 both chart has given enough profit to the seller and now buyer will make profit so my recommendation it so out of the market as soon as possible or use tight sl

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  9. #118
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    Quote Originally Posted by Makaveli View Post
    GBPUSDH4.png

    simisola, I have also gotten a good recent good sell now, but the candle in the 4H time frame has got some more minutes left to close. Therefore, I have entered already being that the resistance level agrees to my analysis, I hope to see some bearish movement even more.
    Well that was aggressive if you ask me, you should have anticipated that something else might happen that would shoot prices up, waiting for the candlestick to close is the best, but as you opined, there are other things that supported your trades, I guess the trade would have reached the stop loss as of now because GBP USD going up, this retracement might continue for a while.

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  10. #119
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    Quote Originally Posted by mexima View Post
    this trade is extremely risky trading because if you open the d1 chart then you will se the doji candle and on the h4 market has made pin bar which means on h4 and on d1 both chart has given enough profit to the seller and now buyer will make profit so my recommendation it so out of the market as soon as possible or use tight sl
    Yeah, it was, but then, you know what. I didn't take too much risks, knowing the situation, I lost out on the trade but that was just two percent of my account, we can't be certain in all we do.

    Quote Originally Posted by simisola View Post
    Well that was aggressive if you ask me, you should have anticipated that something else might happen that would shoot prices up, waiting for the candlestick to close is the best, but as you opined, there are other things that supported your trades, I guess the trade would have reached the stop loss as of now because GBP USD going up, this retracement might continue for a while.
    That was strictly the way I trade with price action trading method and I followed it, I understand the nature of the business, we don't make money all the times, some times we loss, which is fine by me.

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  11. #120
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    With what is happening on the GBPUSD and even GBP crosses which is that the pair is making bullish moves then it is very wrong to start selling this pair or its crosses because the bulls are totally in control but the best thing is to wait for the price to trade towards the support level and start buying it, because upward movement is going to pay more for now until the price is able to hit the resistance level on the daily charts which is at the 1.3000 to 1.3068 areas. As I am typing the price of the GBPUSD have been able to hit the 1.3001 and there is still more room for it to head for bullish side.

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