Forex Price Action Baby, No Technicals or Fundamentals...Trade #10 - Sold NZD/SGD (4/8/19)
10,000 Ft View - 4 Hr Chart
What I like about this big picture price action is the following:
Lets zoom for a closer look at the trade set-up.
What I like is that you had all these filled orders in white, which shows balance, late last week, the chart is suggesting the sellers are now taking control as indicated by the breakdown below the pink rectangle.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
I am not a FOREX trader, but your r/r and idea look good. Is there slippage in forex? Also which broker do you use for forex trading? Good luck!
Thanks @ervinneb There is more slippage in the exotic pairs. This pair isn't bad, slippage is 3 pips, but much worst on the pairs that don't have much liquidity. I was using FXCM when I first started trading Forex, but switch to Oanda 2 yrs ago.
What do yo trade?
I am trade only stocks and crypto. Crypto is for fun mainly :) Have you thought on trading on Etoro, I hear you can make money if people start following you and copy your trades - dont know about their spreads and commisions though :)