ForexTrader – EverythingTrading

29 December 2023

It’s 8am and how the price reacted within a period of 8hrs is that price made a turning point at the bearish FVG but made another turning 50% of the bullish inverse head and shoulders range which took the price to the upside trading higher then the bearish FVG. This caused price to break out of the M15 downtrending channel.

Lesson from setup: What I learnt from the setup so far is that when price is headed somewhere as a result of a FVG and there don’t seem to be another FVG anywhere, it means that the price is poised to create the same range it created before a high and a low would be created after a range, vice versa for a bearish range would be ‘the low and high created after the range’.

With the current M15 zoomed in setup, I see that for the past hour and a couple of minutes counting, price has been bearish as a result of mitigating a bearish Order block. Now as opposed to the previous bearish Order block where price made a turning point an hour after mitigating the bearish OB understanding that it happened because of the imbalance created by the price on its way to mitigate the bearish OB; this current bearish OB to be mitigated did not leave any bullish imbalance. There is no imbalance created anywhere below the 4805.031 & 4762.193 price levels which together create a zone. In that zone however, there is a lot of sell side liquidity.

The beauty of a top down analysis is that directional biases correspond in different timeframes.

The thing about how I trade is that I cannot take a risk of placing a trade without know the range that I’m trading whether it’s a bullish or bearish range regardless of its length. Right now, price has mitigated the bearish order block and has been bearish ever since. Two things may play out here.

1:Price might go back to mitigate the bearish FVG it created on the M15 with this bearish range; have an imbalance in the bullish range where price mitigated the bearish FVG first, followed by the bullish imbalance(FVG) then take the price to trade higher to the bearish unmitigated FVG in the H1 timeframe.

2:Price might mitigate the bearish FVG and continue trading lower.

Either way, I’m always waiting on the other side of the charts for price to leave some footsteps.

I am currently waiting for a buy signal from my template.

Buy signal recieved, I’m placing my buy trades

I rode the first wave but the picture below shows that price took out a spike before triggering my orders. This is one of the reasons why I like to place a couple of order immediately after a signal confirmation. It’s so that when price takes out a spike at any time, I would be in already as price collects my orders and moves.

However😂😂😂😂🤣🤣🤣🤣price just left a bullish fair value gap(price imbalance) in the M5 Timeframe.

Final war positions…

The first spike is out

I’m waiting for the price to continue moving in this directional bias

I should see a bullish spike on the current small candle before 10:05 on the M15 timeframe.

Results

Price has mitigated the M15 bearish FVG. I’ll let the price play out for now… I’ll pull up the charts again in 3hrs

Boom500 Buy Signal

It’s currently 18:01and I Just placed my trades according the bullish FVG on the M15 timeframe and my template giving out a buy signal. Price hasn’t satisfied the directional bias as yet. It’s still ranging around the bullish FVG. See the chart below.

I opened 20 positions with 0.20 lot size. I did this so that I can fill the Imbalance with my orders and instead of opening 2 positions with lot size 1 and accrue a lot of losses from one specific level, it’s better to open my trades with the amount of positions that are still equivalent to lot size 2 in total.

Price has trade past the Imbalance it is currently trading in the middle of an M30 bullish order block. Price still hasn’t satisfied the buy signal that my template took out after I identified a Fair Value Gap. Conclusion, I’m still holding.

However, some of my opened orders are closed and will continue closing if price continues to fall.

I also see an M5 Timeframe bearish FVG that I missed. That’s the FVG that drove price down this hard and at that time, there’s another M1 bullish Order block that I identified.

This means that the bullish Order Block and the bullish FVG were invalid in this case. When price mitigated the bullish FVG, it went up a bit and mitigated the M15 bearish FVG then went down from there. I think that it’s headed for the Order block identified around the 4785.510 price level.

But I seriously didn’t think that price would fall that hard after mitigating the bearish M15 FVG because price didn’t fall

Price kept on closing more positions in my account which decreased my balance as a result

As price kept on falling to the point where it left my account at an initial balance of $5 from $113, I ended up analyzing for more reasons that wouldve drove the price that low without trading higher as a results of mitigating the FVG identified and the Order block. Price was actually looking to mitigate the support level, make a 123 touch on the downside before trading higher to the bearish OB identified on the H1 timeframe.

The reason why the bearish FVG was invalid was because it had no other bullish order block or FVG that would make a price continuation. And price had already created a 123 touch on the downside.

28 December 2023

I see that yesterday my template gave out a sell signal which didn’t go to that directional bias because price was trading at a support level/ bullish FVG on the H1 timeframe and M30 timeframe. As price made a turning point there and created a small bullish range, price created an imbalance through that range, came back to mitigate that bullish fvg/imbalance and now I’m currently waiting for price to start moving towards the upside because I’m anticipating for price to go and mitigate a bearish FVG that I identified on the M30 timeframe.

I placed another buy limit order @5909. 7467 price level because it is the level where the H1 BULLISH FVG is found. It is also a place where an M30 bullish FVG is found and is linked to an M15 OB. therefore I’m going to hold these trades that I’ve set accordingly until they hit tp just below the M30 FVG.

Price surpassed the Order block and FVG’s, even broke the previous low that it created. The same low that respected THE M30 FVG.

I’ll come back and check the market again around 10am. The Boom500 asset hasn’t been giving me good setups that I can risk my money on.

I have identified an unmitigated bearish fvg on the M30 timeframe. I’ll wait for a buy signal and ride it to the upside just below the bearish FVG. Scratch that, I’ll come back on the charts around 10am.right now I gotta take a power nap, let the price play out and then look for opportunities once price has colled down.

I just got a buy signal before taking a nap right now. I’m entering with all I got.

A spike came out🔥. I clapped back on my losses.

Check Crash1000 around 9:25 am

Regarding Boom500, price has satisfied the 4781.778 and 4762.193 zone. I want to see what going to happen next.

I’ll be back again at 9:25 am

It’s 11:13 and I just recieved a buy signal. I placed my buy trades with 4 positions.

A spike just came out but it hasn’t fully satisfied the directional bias as price hasn’t went over the orders.

Price took out another small spike and went a bit over my orders so I closed my trades.

Looks like I’m going to accrue losses here because I bought price at a resistance level doing so via the buy signal I got.

Although I sold on a resistance level, price an M30 BEARISH FVG slightly above where I placed my tp level and price hasn’t mitigated that FVG. Some of my trades were closed but I kept on adding more positions to my trade. Price just took out a massive spike.

I closed my trades with partial profits.

I’m waiting for the price to give out a sell signal for a buy signal to emerge and then place my trades via the buy directional bias.

It’s currently 17:26 and price has mitigated the bearish FVG. Price is currently bearish and what I’m waiting for is a bearish FVG either on the M30 timeframe or the M15 timeframe because since price painted a picture, it hasn’t left ANY bullish FVG’s. I’m saying this in relation to the conclusion I made that as much as price is poised to go to the upside in the bigger timeframes, I’m still expecting for price to fall to the 4260.440 zone.

Alright, price has created both bearish FVG and OB on the M15 timeframe. I just have to wait for price to come back here so that I can sell.

When I zoom out of the M15 chart, I can see that price created a series of a High , a lower High, and another lower high which I take as an indication that price is going to the downside. I’m going to place my sell trades as soon as I get my sell setup, hold until the 4750.306 price level because price still needs to trade through that level.

It’s 18:20 right now and price just gave me a sell confirmation for the bearish FVG that the price mitigated. Price created an Order Block and a FVG with the bearish candles that it created. Therefore, I have placed my sell limit orders around the FVG zone. I’m just waiting for price to trade back to that area an trigger my orders.

FVG’s and Order Blocks are confirmations for directional biases.

As I scalp throughout the picture that price is painting…

My template just gave out a sell signal after a buy signal and the buy signal did not take out a spike as yet. Each and everytime when this happens the price eventually takes out a couple of spikes that satisfy the directional bias of the buy signal given by the template.

That’s the reason why I’m holding the trades that I already opened. Results are loading

First spike is out but it hasn’t satisfied the whole direction, therefore I’m holding.

Just recieved another buy signal

Before…

After

On the M15 timeframe, price has created an inverse head n shoulders. I think that’s the bullish setup that’s going to take us to the bearish FVG found around the 4820.630 price level and the 4829.166 price level.

It’s currently 11:44 pm and price did go towards the bearish FVG and mitigated it. The inverse head and shoulders did take the price there after all. My question is that since well price mitigated this bearish FVG in the M15 timeframe, are we going to see price creating a confirmation of this sell directional bias on the M15 timeframe or is price going to continue trading higher somehow?

Another one of my thoughts is that the price is likely to go to the downside because the bullish range that the price created on its way to mitigate this bearish FVG did not leave an imbalance however it did leave a low that we can treat as a sell side liquidity. Wait for a sell confirmation for me to take sell trades.

I’ll let the market breath for 3hrs and then see what price is telling me.

Trading also taught me to adapt to what the price throws at me because days are different therefore I have to adapt, adjust and endure. He who holds until the end shall be rewarded.

Exclaimer

There’s not one single path when it comes to trading.
There are many different methodologies in the market that you can use.You just have to go with what works for you and stick with that.
Although,there are traders who over-value their methods of trading over any other of which will result in degrading the esteem and work of other traders in the same industry.Don’t be that guy/girl.

Do not fall for these egotistical remarks of traders saying ,”But my strategy is better than yours”.Instead,stick with what helps you grow and what generates you income.
After all the goal and objective here is to generate consistent cashflow so that you can live the life you want.Everybody has goals and we have different approaches to life and how we achieve our goals in life.
Let’s all help each other grow and not bring each other down because by the way if you didn’t know…trading is all about growth so let’s reflect that on one another.
Happy trading week.
Be profitable in every area of your life.

My recommendations:
To open a forex brokerage account; I recommend RCG Markets for various trading instruments to choose from: Currency pairs, Shares, Metals, Energy Carriers, Indices.

This broker also has flexible leverage depending on your trading trajectory.

To open an account: https://portal.rcgmarkets.com/register?ibid=852167

Before concluding; I’d like to also tell you some great news. There is a challenge happening at AUDACITY CAPITAL for forex traders worldwide. AUDACITY CAPITAL is funding forex traders who show potential in forex trading through their programme called the Ability Challenge.

Click the link below to register for the challenge and please; do come back and comment in this blog on your experience of the challenge.

https://ability.capital?ref=motlotlgimoerane

You already know what to do; please show me some love. Like and comment in the comment section.
This is from me to you and everyone else
Peace.

I am

Affirmations play a big role in a traders life.

We like to speak things into existence because that is what we’re all about.

Most people didn’t approve of what trading is and most still do not know what it is till this day.

It is constant learning to improve yourself.Improving yourself in areas you lack.Some People lack patience,some people lack character and it might sound weird but character plays a huge role in an entrepreneurs life.Money knows Character.Some people lack self control of their own feelings.some people lack determination and some…Consistency.

These are somewhat the characteristics of a trader.

In order for you to acquire the right mindset,you will have to start being open minded about some things,start new hobbies,have boundaries,read books,etc

Do what it takes to reach your full potential.

You already know what to do; please show me some love. Like and comment in the comment section.
This is from me to you and everyone else
Peace.

IndustryFeelings

This marketplace was built to inflict fear in you…I’m not even kidding
From the moment you open your platform you start seeing red and green colors and you do know that red is for danger.There’s this funny but scary sound that is often displayed when you’re busy on your platform from time to time.This sound triggers that fear that something wrong is happening with your trades.This alone tries to swindle you into an undecisive position that makes you do hasty decisions.

This industry is literally a roller coaster ride and you can see this by the price going up and down.Feelings of high hopes and disappointment but inside all of these layers you learn valuable lessons that make you a profitable trader.

Think of the market as your teacher and you as the learner because you always learn from your losses as a trader.

You already know what to do; please show me some love. Like and comment in the comment section.
This is from me to you and everyone else
Peace.

How to choose and trade pairs in the FOREX Market

When you choose a certain currency pair,there are a few factors that you have to look at.
I do this in question form so that I can see if the pair I chose is a pair with good opportunities that allow you to understand it’s price behaviour by ticking all the boxes.If most boxes/questions are not filled then it’s not a good pair for me.
[ ] What type of currency pair do you want to trade?
[ ] What relationship does it have with the interest rates chart(the 10-year treasury note)?
Choose a second pair or commodity,etc

[ ] What relationship does it have with another indice,currency pair,etc and the Interest rates Charts.
[ ] What are the Macro’s of the Economy using that currency?

The aim here is to understand price behaviour technically and fundamentally because this will then place you at a level where you can know get to figure out why the price will supposedly drop in the next Quarter or come to other conclusions that can also help you with aligning your probabilities after doing your technical analysis.

More fundamental and technical info to be updated.
I just wanted to keep this as short and simple for you to do ur research of the terms and factors mentioned above.

Always study your macros to know reasons behind price movements/behaviours in the market in technical and fundamental terms.

You already know what to do; please show me some love. Like and comment in the comment section.
This is from me to you and everyone else
Peace.

A summary of a lot of keys

It’s not easy to trade profitably.Most can’t do it.Its not that trading is difficult but rather the discipline needed to trade profitably is difficult for traders to learn and implement on a daily basis.

Break the market down into different trading sessions and look for potential reaction points.

Budget your time in the charts.If you have the need to be constantly watching the charts you are quite possibly fostering an addiction.

Yes it is important to spend time in the charts but it shouldn’t take you up to 3hrs to do so unless if you are studying and building on your knowledge.

No one else executes the trades besides you.You are in charge and the ship either sinks or sails smoothly based on your decision making.

Every small incremental move towards your goal is a positive move.Trading is not a race,it’s a journey that you should be enjoying.

You already know what to do; please show me some love. Like and comment in the comment section.
This is from me to you and everyone else
Peace.

We all need tools

Everybody needs tools in this World.Builders need tools and material to build.Chefs need their tools and cutlery to cook.Bakers need their tools and ingredients/cutlery to bake.Doctors and Mechanics need their tools to diagnose a problem,etc.We all need tools in this world.This itself explains why we need to use our tools that we have on our trading platforms either on our smartphones or laptops,etc.

Our tools are used to identify problems in the market and solve them by then taking a trade of that directional bias.That’s my own way of how I view the market.Whenever I see a trend in the market I take it as a problem and then I solve the problem by identifying opportunities.

Some of you guys might be asking yourselves but why am I doing this…well,it’s because Only rich people or wealthy people got to where they are by solving a problem/problems.Think about it.

When entrepreneurs of any kind it doesn’t matter which industry it is,when they sell you product or service it has to satisfy you as the customer.Once this has been achieved,they have solved the problem of your yearning.

This also goes for trading,in my own view.Once I Identify a problem (trend),I then have to identify a solution to that problem(opportunity…whether to buy or to sell)

The tools you have to make use as a technical trader of in the market are your trendline,Horizontal line,Vertical line and Fibonacci retracement tools.

You already know what to do; please show me some love. Like and comment in the comment section.
This is from me to you and everyone else
Peace.

Forex Hindsight

A jack of all traits is a master of none

In order for you to learn how the price of a certain currency pair or any other symbol we have in the market behaves,you need to lock any other pairs out and focus on that specific pair you have chosen.

Once you start to do this,you allow your mind to focus solely on one thing and how it behaves,why it does certain things and what causes those things to happen.

For e.g.I started focusing on the USDCAD currency pair only.As I did this I then started to learn why it’s prices behaves the way it does.I started learning and taking note of the fact that this pair doesn’t provide opportunities everyday…of which we’ll talk about in another topic but the best part about learning one pair’s behaviour is that you get to learn how it affects another pair.

I started figuring out that the USDCAD currency pair has an inverse relationship with the AUDCAD currency pair.This means when the price of USDCAD goes bullish,the price of AUDCAD goes bearish.

Focus on one pair and master it. Always look forward to every trading week.

You already know what to do; please show me some love. Like and comment in the comment section.
This is from me to you and everyone else
Peace.

Time To Mute

As a trader or someone pursuing their passion for that matter,you shouldn’t be paying much attention on social media.
Don’t get me wrong.Social media has been a great help to us in many ways but that’s not the point here.What I’m trying to highlight is that when you take a decision to focus on your passion or talent,etc…you have to block most of the things that will distract you.

When you spend time on social media,you spend more time checking out other people’s posts and what they’re doing.That on itself is a distraction because it’s taking away a person’s biggest Asset,”Time”.
This ultimately puts you at a huge disadvantage and you’re doing a huge disservice to yourself because you lose much of your time on your phone looking at what other people are up to instead of doing something about what you got going on or what you have to work on.

You have to change the narrative around that and spend more time on your craft.
Now as a trader,you will be familiar with a lot of people on different kinds of social media platforms.Do not focus and look at other trader’s posts everytime because you will want to try out what they are doing forgetting that your level and his level aren’t the same.
They’ll be posting money,cars and all those things of which at some point,they were meant to inspire but unfortunately when you view some of the things you feel a bit small and discouraged by the fact that your hustle/passion/craft is actually taking longer than you expected it would and now you see other people doing what you want to do and they’re making it out there…it can affect you emotionally or mentally.

It is a great thing to follow someone that you look up to,someone that inspires you,someone that you want to be like.Its definelty 100% ohkayy but what I’m saying is that you mustn’t spend much of your time looking at what other traders are making,how they live…the list goes on.

Spend more time on your craft.If you don’t pay attention to how good you are on what you do,you’re never going to improve.
Why do something if you don’t want to be the best at it?Rather leave it and be the best at watching other people’s posts and what they’re doing maybe you’ll be good at that but what good will it do for you?

Take time to reset and think this through.
Spend more of your time on your passions than on things that won’t add value to your life.

You already know what to do; please show me some love. Like and comment in the comment section.
This is from me to you and everyone else
Peace.

Post script at the B-Journey

The B-journey is another term I use for “the beginning of your journey”

Knowing how to read price behaviour removes the ambiguity of whether your indicator or system that you are using is good or not.
Only you can make the indicator you’re using work by only one thing.Simply put in the chartwork yourself.Nothing ever works if you don’t.

Do not sell lows and buy highs.Many traders tend to do this without even noticing and its caused by the fear of taking a trade and what we call FOMO(Fear Of Missing Out).Sometimes when you see a trade trigger, you wait a little while to see if the price is indeed going in your direction before taking the trade because you’re either not certain of your trade,you don’t trust your analysis or you are safeguarding your precious money.Don’t do that.
You either trade or you don’t.
Mentors can teach people how to trade but no one can teach you self control of your own emotions.Only you have to learn how to control that.YOU.

As I once written in one of my blogs,when you ought to take a trade there must be a list of questions that you have to answer before taking a trade.This now adds to drafting your own trading plan.
A trading Plan isn’t something you copy from someone and paste it.
It’s not a template but I’ll tell you what it really is.A trading plan is drafted in the process of figuring what type of trader you are by practically trading.It’s basically trial and error because you will see that before you actually learn what type of trader you are,there will be constant blowing of accounts and making losses and sometimes making income here and there but it’s noticing the amount of losses as opposed to wins each year that will tell you that no man…this isn’t my category.That’s actually how you find out on which category you fall in in this industry.
Now don’t get me wrong.There are traders out there that sync in with the type they have settled for on their first try and this is because those people actually landed on the mark of their industrial self or they can just adapt like that.It’s possible.

In conclusion I just wanna say to you guys its not about the destination in this industry.It’s about the journey so embrace your losses as much as you do with your wins, for your losses actually teach a lesson.

You already know what to do; please show me some love. Like and comment in the comment section.
This is from me to you and everyone else
Peace.