Based on the multi-timeframe analysis posted in this blog (click here for details) the CHFJPY is good for SELL at this point for a 100pips. Depending on your risk plan stoplosses are good at 99.33 or 98.36 entry good at 97.55
Observe carefully.
Crystal Markets
It is always good to make analysis based on multiple timeframes. Especially daily and 4hour. This practice tends to give a clearer picture of the market.
ReplyDeleteBosun
FxGlory remains my best broker since 2014.
While this is just common sense, ignorance of the principle, or carelessness in its employment has caused disasters to many traders in the course of history. Nobody knows where a currency pair will be heading during the next few hours, days, or even weeks. There are lots of educated guesses, but no knowledge of where the price will be a short while later. Thus, the only certain value about trading is now. Nothing much can be said about the future. Consequently, there can be no point in adding to a losing position, unless you love gambling. A position in the red can be allowed to survive on its own in accordance with the initial plan, but adding to it can never be an advisable practice.
ReplyDeleteBosun
FxGlory remains my best broker since 2014.
We already noted the importance of emotional control in ensuring a successful and profitable career. In order to minimize the role of emotions, one of the best of courses of action would be the automatization of trading choices and trader behavior. This is not about using forex robots, or buying expensive technical strategies. All that you need to do is to make sure that your responses to similar situations and trading scenarios are themselves similar in nature. In other words, don’t improvise. Let your reactions to market events follow a studied and tested pattern.
ReplyDeleteBosun
FxGlory remains my best broker since 2014.
An analytical approach to trading does not begin at the fundamental and technical analysis of price trends, or the formulation of trading strategies. It begins at the first step taken into the career, with the first dollar placed in an open position, and the first mistakes in calculation and trading methods. The successful trader will keep a diary, a journal of his trading activity where he carefully scrutinizes his mistakes and successes to find out what works and what does not. This is one of the most importance forex trading tips that you will get from a good mentor.
ReplyDeleteBosun
FxGlory remains my best broker since 2014.