Posting after a while as I was studying RENKO charts. Very beautiful charts but very difficult as they only take price action to calculate, so one RENKO box may get completed in a day whereas the next one may take a week and sometimes 2 or 3 RENKO boxes in day. Have taken a short trade based on RENKO chart and SAR and MACD signal.
The price got proper support yesterday and today again in green on daily time frame. We remain bullish and look for long trades in JPYINR. The ATR is falling which means that market movement will be shallow, so keep tight stop loss.
Price making higher high on Daily timeframe. We remain bullish and look for long trades only. The Average True Range is falling, meaning that the market movement will be limited and don't expect many pips. Follow proper money management .
We have so many indicators and strategies and yet majority of forex traders lose money. Reason is we don't know who is our competitor.
The mover and shaker of forex market is big banks and institutions. The advantage these big guys have is that they can walk in their trading room and see all the buy orders and short orders. They can see where the stop loss are...
Since yesterday the pair is not giving any trade signal as it is making lower low on daily time frame heikin aishi price chart but making green candle higher high on 1 hour time frame. Today it has opened in green on daily timeframe, so we wait for today to confirm the uptrend or risk takers can go long with tight stop loss .
The Pair has not made lower low on Heikin Aishi price charts. On the 1 Hour chart, it is made a green candle with MACD histogram rising and Stoch also giving buy signal. So wait and watch for buy signal.
JPYINR making lower low on daily chart. On the 1 Hour timeframe, MACD histogram and stoch has turned weak with second red candle for the day. Time to go short on JPYINR. Maintain stop loss.
You enter a trade and it is going in your favor, the profits are looking so attractive that you decide to make an exception in your trading strategy and close the position and cash the profits. Wow.. and then what happens!! You are out of the market, the trade is still going in your favor, and you are just calculating that you could have made so much more as now...
We mainey follow the price action on Daily Heikin Aishi chart with support signal from MACD histogram and Stoch. As per this chart, we have to trade only on the short side. We enter trade on the 1 hour candle, so after the first 1 hour candle is made then we enter trade if the market is still in red. Keep stop loss at previous candle high. Decide...