Trade Plan November 20 - 24

Its still in my watch list waiting for the right price to be in place. the currency pair will be Eur vs Usd and Usd vs Jpy.

As for Usd vs Jpy i have seen a beautiful parallel pattern which im waiting for the market to hit my mark. Now for Eur and Usd I was able to create analysis where to get involve but it so happen my mentor have uploaded a trade plan on this pair. What interest me is, the things he is seeing and considering which I have not so I collaborate my analysis to his analysis...

This how you suppose to use signals from credible traders. It is a must that you have to create your own analysis first before looking on the analyis of others. use others work to confirm or compare your work. Not to depend on this people. after all it is your money that you are trading.

(video will be uploaded)

Video Card Comparison

Changes on difficulty and price of Bitcoin will greatly affect the below Calculation




You can visit the google doc to have better view of the comparison
https://docs.google.com/spreadsheets/d/1qwoBjVLGitR4jKhO6djwGjVueLnO5_DXapZXWUmjtKY/edit?usp=sharing

Trade Plan Nover 12 - 17

EurGbp

Tools
1. RSI,

2. Fibonacci,

3. Support and Resistance,

4. Divergent

5. Pattern

Why EurGBP? For the reason I spotted Divergent Head and Shoulders pattern which it has not failed me. Given that the Risk is on 25 pips its a descent number of pis that you can loose without hurting much of your capital. In which the Take profit is 50 pips bringing the ration of 1:2. My ideal point of entry is on 0.618 to form another Pattern that is AB=CD. If the market allow that the retracement is precisely on 0.618 then it will add up to my confidence that the take profit will be the exact support on 1 day chart.  

Divergent is the plus factor on this trade which supported by the pattern of Head and shoulders so meaning the best entry will be the formation of right shoulder.

Consider also the Power of the bearish candle of 4hrs chart. We can see that its power is on our side. Which the fundamentals are strongly suggesting that GBP is getting strong

Ideal number of pips to get is ONLY 30 but the full potential is 50 pips This is the reason Im going to split my trade the other is hitting 30pips the other is hitting 50 pips.

GBPJPY

Tools
1. Pivot
2. MACD
3. Pattern

To start my trade on this pattern I need to see slight pull back forming a letter M. if market will not pullback Im not gona take the trade. The best i could see on this is this can be a pottential reversal pattern. Yet because of fundamental doesent fully support the pattern that is why I rely on MACD to start trade once i saw slight pull back.

Where To Start?

Learn the Terms (Step 1)

(A) Learn the Terms 

(B) Leverage Spread and Margin call

Create a Trading Account (Step 2)

(A) Create a Trading Account

(B) Setup your account

Verify Your Account (Step 3)

(A) How much Money do we need to trade Forex

Fund Your Account (Step 4)

For Funding I use Paypal for security reasons

(A) Fund Forex using Bitcoin

Practice and Identify Basic Trading (Step 5)

(A) Identify Market Structure

(B) Identify Market Direction

(C) Money Management Strategy

(D) Money Management

(E) Identify Point of Entry

(F) Identify Support and Ressistance

(G) Time Frame Relationship

(H) Trading is a skill

Practice and Identify Advance Trading (Step 6)

(A) ABCD Pattern

(B) Head and Shoulders

(C) Bat, Gartley and Butterfly Pattern

(D)Relationship between 2 pattern

(E)Live Explanation of How I trade

(F) How not to chase the Market

(G) How to Plot Butterfly Pattern

(H) Bat Pattern and Measurements

My Tailor Fit Strategy

Important You must know who you are and create your own tailor fit strategy