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REASONS TO ENTER A TRADE
The most important tips is to understand the lower timeframe trend direction and higher timeframe trend direction as the lower timeframe trend will always conform with the higher timeframe trend direction.
Other factors that need to be considered before entering a trade are the Trend Lines, Market Structure, Candlestick Formation and Chart Patterns.
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RALLY BASE AND DROP STRATEGY
A Rally Base Drop is a Price pattern that indicates the formation of a Supply Zone.
The Rally Base Drop is a Price pattern that occurs when prices have been rising, peaking and then sharply dropping. This indicates that the sellers are now more aggressive and have overwhelmed the buyers to form a Supply Zone.
USDJPY SELL LIMIT @ 151.863
SL. 151.969 ( 9 PIPS)
TP1. 151.616
TP2. 151.364
TP3. TARGET
WHY TRADERS LOSE THEIR TRADING ACCOUNT
They go from beginner to taking trades without prior understanding of how the forex market works. They usually have little or no knowledge about trading, no trading strategy with backtesting data, no trading plan, no risk management plan etc.
A trader who's looking to succeed in the trading business will first need to attend to all the listed tip above.
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IF HAVE YOU PATIENCE, YOU HAVE EVERYTHING
Patience is one of the skills/traits that you must nourish if you want to be a successful trader.
The game is all about patience - waiting for your setups, being patient with your progress and submitting to time.
A lot of us want to make it fast. But the more we rush, the slower we go.
So, slow down and enjoy the ride.
GBPUSD buy limit. 1.25953
SL. 1.25834( 11 pips)
tp1. 1.26204
tp2. 1.26452
tp3. TARGET
GOOD MORNING TRADERS!
It’s yet another day filled with possibilities and opportunities to be great men and women of substance.
Let’s be strategic, be purposeful, be focused and most importantly, Let’s live a life of purpose👌
WISHING YOU A LOVELY DAY AHEAD 🙏🏼
⚠️ The US Dollar gained more value and momentum against the EUR in the mid-European session, pushing EUR/USD more bearish to the downside. We shall be updating you all soon on this.
