Butterfly pattern

Butterfly Pattern on 1hr chart EURUSD\

I was too sleepy to put details on this post. Detected this one 4Am and took my trade at around 5Am. Used a candle stick pattern to identify my point of entry which is right after the 2nd bearish candle, after the bearish pinbar candle. As i have calculated it it only will take 13 pips to risk. Since i have traded already 40 pips on the break out i manage to utilize the Money Management strategy. Even my limit was only 10 cents trade size I have traded 50 cents per pip without risking my capital if i loose.

Watch this video to understand Money Management Strategy
https://youtu.be/5GGWTUDGoIw

Take Profit in other hand have 2 option which is the 67.8% and the 127% of point CD in which if you take a look on this pic you can see that Option 1 is already filled which I have earn another 40 pips for this week

Now im waiting for the 2nd take profit which is the 127% if ever this is filled then i have reach my goal for the week taking 120 pips per week.

How to trade Break Out

Pull back strategy - basically wait for the Higher low structure to form before taking trade Stop lost is in the previous low structure

Upon break out next candle- when i do this i make sure im following the the stop lost. which i closely monitor due to possibilities of false break out will happen.

Which currently im doing on my trade

 a triangle have been break so I have trade right away on next candle however i closely monitor this trade for the reason possibility of false break out is showing on 4hrs time frame.

already i have move my stop lost to safe zone so what ever happens i do got 22pips

If Trade size is $5 per Pip then i had lost P18,000 Pesos

     
As for my famous slogan Experience is the best teacher. If you can see slogans or ads about how high you can earn in forex. Pls bare in mind this slogan or ads is two ways. what they are showing you is only the one face of the coin. They are not lying about it. It is really true that you can earn as much as what they are saying however they are not also not telling the whole truth about it. So What is the truth?

     During My first Year on this Forex trading I had created a feasibility study how profitable it can be. Using simple trading on my little experience the research that i created is really feasible. However the only problem is I treated the market as if it is a decease that need to be cured. I treated the market like a machine if its now working then here is the solution. I was concentrating more on strategy and indicator which the greatest newbie error I have put so much attention on strategy and indicators that others are using which they are really earning.

    I never say that you are not to learn from them. what im trying to point here is to be consistently earn in this industry you have Learn how to trade forex by its Structures, i discourage to copy how others trade or even discourage to copy how i trade but rather enhance it the way you like it to be. It must be tailored fit in accordance to who you are. Not in accordance in how much dollars you can make.

As a result of this costly newbie mistake 3 of my clients lost their money. So Lets go back what is the whole truth about Forex Trading

 As much you can earn 500X you can also loose 1000X

So Am i Discouraging you to trade on forex?? Watch this video and I promise you you will know the answer.

Market Structure shows Direction

Can you really tell where the market is going? How accurate you are regarding market directions. Does Market give clues?.Given that we really dont know what will happen tomorrow does that mean we can't tell where the market price is leading? The fact that we dont know what future brings we can not pin point the EXACT market Price. However what we can do is to tell where the market is going.

To know the Directions I have discuss the Structures and its relation ship between time Frame, you can refer to this video to understand it. (how to trade Forex). It is also a must You understand Time frame

Time Frame
1 Day Candle stick = 24 candle stick having a time frame of 1 hour

1 Day Candle stick = 6 candle stick having a time frame of 4 hours

1 Candle stick in 4hrs time frame = 4 candles sticks in 1 hr time frame

1 Candle stick in 1hr time frame = 12 candles sticks in 5 min time frame
(Explanation video will be created soon about Time Frame)

If you have understand time frame you can explain a pin bar or hammer Candles stick. Example in four hours time frame the reason for the formation of very long wick or tail, probable cause

Bullish long tail or wick = 1 candle stick (1hr time frame) bearish and 3 candle stick (1hr time frame) bullish. The bullish candle  height is longer than the bearish candles stick. It may show Long bearish candle in the first hour of the 4hrs time frame but the 2nd 3rd and 4rth candle (1hr) out stand the height of the 1st hour candle stick leaving a long tail or wick.

It may sound confusing but as soon i can create visual video on this this will make sense. Expert in candle sticks and its relationship with time frame will make you great naked trader. as for me I need further indicators to serve as a confirmation on what i am going to respond to the market.

Now lets take a look on this 1st PIC

Posted this Pic last August 4 this year during the non Farm Payrol week (refer to this link) I have specifically explained on that post that if the Strong resistance is broken then higher possibility of down trend is coming, in which Swing traders love this clues. as for me to take trade again i specifically draw a head and shoulders pattern which we all know if market price form a head and shoulders possibility of reverse is high. for this case a down trend is coming.










Take a look on 2nd  pic which is the current August 16, 2017 shows the accuracy that i have foretold regarding direction. and if Market allow to happen forming a right shoulder then its time for me to trade.

IMPORTANT

Direction of the market  can only be measured with in Structure. again watch this to understand structure (how to trade forex). Meaning the accuracy and to what will happen next will depend the structure level if the market have broke or reject previous structures. That is why it need skills to identify this. so that you can still earn without know the exact point when will the market break or bounce.

Example my analysis on EurUsd last Sunday (refer to this link)

I state it clearly that it will bounce on the Roof or Resistance  making an advance trade. However what the market does it did not, but instead he check the previous structure low. in which my trade plan is still intact since i could see pattern forming

Even it did not hit my desired point of entry which i already took and advance trade waiting for market to hit it and it will start the trade. I was still able to profit and created a new trade with minimal 1:1 Ratio risk factor.  Reason behind it was the experiences I had and back up with few indicators. Again the structure help me decide to create a new entry. (watch to understand)

Refer to the pic below