Layigold Copyfx Journal
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    Rookie layigold's Avatar
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    Layigold Copyfx Journal

    Trader: layigold https://my.roboforex.com/en/copyfx/p...rs/show/36268/
    Forum nickname: layigold
    Account number: 193473
    Server name: RoboForex-Fix
    Account type: CopyFx MT4 Fix-Standard
    Leverage: 1:500
    Funds: 150.20 USD
    Rating: https://www.copyfx.com/ratings/rating-all/show/36268/

    Description of the subscription conditions:
    Scheme: Trader on profit
    Added on: 04 January 2019 11:45:00
    Started on: 04 January 2019 11:45:00
    Risk level: Medium
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    Amount of minimum deposit: 100 USD
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    commission 10%


    I am in deed very glad to open my own trade journal here though I have already created it in the section meant for investors and you can see my previous update here https://forum.roboforex.com/threads/...igold-(193473). There you will see the results of trades I took last week . I will continue to update this trade journal as often as I see a good trade setup that suits my own trading style .

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    Rookie layigold's Avatar
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    A good pin bar candlestick formation is sighted on weekly chart of NZDUSD and price rejection was so sharp as one could easily see that from the long wick of the pin bar candle . The pin bar candle equally engulfed the previous candle . Consequent upon this , I remain bullish in this pair and I have already taken my first trade with risk /reward ratio 1 : 2.5 The daily time frame is very supportive of this bullish bias so I will watch how the trade runs .


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    Rookie layigold's Avatar
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    XAUUSD(Gold) having corrected lower found a support at 1281.00 area and that was well supported by Doji candle being formed on 1H time frame and hammer candle on 15m as you can see on the chart below . Based on that , I open a buy order with lot 0.02 with take profit target of 100 pips and stop loss of 31 pips.




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    Rookie layigold's Avatar
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    Two of my trades hit stop loss as you can see the screenshot below but the direction I took still remains valid . I will re-assess the market and find a good entry point when a very good opportunity presents itself . I could see that signals on lower time frames which informed my decision on XAUUSD (GOLD) was less reliable when compared with price action signals on higher time frames like daily and 4H .



    Loss is part of trading and as long as the risks of trading are well and properly managed , loss recovery is very certain though that may take some times

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    Rookie layigold's Avatar
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    Quote Originally Posted by layigold View Post
    A good pin bar candlestick formation is sighted on weekly chart of NZDUSD and price rejection was so sharp as one could easily see that from the long wick of the pin bar candle . The pin bar candle equally engulfed the previous candle . Consequent upon this , I remain bullish in this pair and I have already taken my first trade with risk /reward ratio 1 : 2.5 The daily time frame is very supportive of this bullish bias so I will watch how the trade runs .



    Though this trade hit my stop loss at 0.6717 as I have said before but bounced at the low of 0.6706, that is just eleven pips difference from where my stop loss target was . That is a lesson that stop loss must not be too tight . I will have to look onto that area in subsequent trade opportunity but you can see the weekly chart update in comparison with the previous one

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    Rookie layigold's Avatar
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    EURUSD has lingered for long on sideways below 1.1450 resistance since 24th October ,2018 but yesterday the resistance was clearly broken and the fallen wedge was equally broken as well as you can see on the chart below . This has clearly confirmed that the bulls are now in control and my bias for the pair now is long . The immediate resistance now is 1.1620 While the major resistance is at 1.1810 as you can see on my chart . I will be looking for price action buy signal on lower time frame to go long since higher time frame has shown and supported bullish market .



    So far so good EURUSD is set for serious uptrend as the trend is about to reverse

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    Quote Originally Posted by layigold View Post
    EURUSD has lingered for long on sideways below 1.1450 resistance since 24th October ,2018 but yesterday the resistance was clearly broken and the fallen wedge was equally broken as well as you can see on the chart below . This has clearly confirmed that the bulls are now in control and my bias for the pair now is long . The immediate resistance now is 1.1620 While the major resistance is at 1.1810 as you can see on my chart . I will be looking for price action buy signal on lower time frame to go long since higher time frame has shown and supported bullish market .



    So far so good EURUSD is set for serious uptrend as the trend is about to reverse
    It's a good weekly analysis and now that the very resistance line is broken, it will be a good one to look out for buying opportunities in the lower time frame as this will bring about better entry with good target. I can see same similarities with that of the gbpusd pair also and I think all signal will now points towards the uptrend direction. I will keep looking out for more buying chances and hope that we can get on to make good profits with the right entry.

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    Rookie layigold's Avatar
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    The pull back on EURUSD I have been waiting for seems to have completed at 1.1520 where there appears some bids . Consequent upon that , I took a long trade at 1.1519, stop loss at 1.1503 and take profit at 1.1619. I hope you can see the chart below which explains all I have been saying so far on the pair


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    Rookie ola4real's Avatar
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    Quote Originally Posted by layigold View Post
    The pull back on EURUSD I have been waiting for seems to have completed at 1.1520 where there appears some bids . Consequent upon that , I took a long trade at 1.1519, stop loss at 1.1503 and take profit at 1.1619. I hope you can see the chart below which explains all I have been saying so far on the pair

    Hello layigold, your arrow on the chart is pointing downward when you see the candlesticks still maintaining a bullish nature on the same chart, don't you think that is too risky for a trader? And my analysis on EURUSD with the use of price action is stating that the asset will still be rising for now. When you correlate between the weakness of EURUSD and GBPUSD as well, you will see that the GBPUSD fell much, will EURUSD is still maintaining its bullish outlook.

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    Rookie layigold's Avatar
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    Quote Originally Posted by ola4real View Post
    Hello layigold, your arrow on the chart is pointing downward when you see the candlesticks still maintaining a bullish nature on the same chart, don't you think that is too risky for a trader? And my analysis on EURUSD with the use of price action is stating that the asset will still be rising for now. When you correlate between the weakness of EURUSD and GBPUSD as well, you will see that the GBPUSD fell much, will EURUSD is still maintaining its bullish outlook.
    You did not get my analysis right my brother , my bias for EURUSD has shifted from bearish to bullsh once the resistance area of 1.1450 has been clearly broken upward .The pair moved almost 130 pips up from 1.1438 and I expected a retracement of that 130 pips rally which did happen and seems to have ended at 1.1480 level where the pair caught some bids. I have long trades on EURUSD and I know that on a matter of weeks to come You will find EURUSD at 1.1800 level and that is almost 300 pips from here .Just have a look at my chart below:


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