In this video I go over the Forex pairs I trade and the ones I have on my radar. I use the setups I created to make these trades. As a bonus you see me get in a live trade because I saw a setup doing this review that fit my trading style.
My Forex Technical Analysis
The reverse lightning trade and 38-127 trade setup continue to do well. One thing I have noticed is the dominate pairs tend to all show the same setup. You’ll see in this video how two of the dominant pairs have the same setup in most of the charts.
I am pretty happy with those 2 setups so I am not actively looking for another. The reverse lightning trade handles the breakout setups. The 38-127 trade handles the continuation setups. So outside of that there really isn’t anything else I am looking for.
I was debating about moving my 1st entry up to .02 lots but for now, I am going to increase the lots used when the price is in “free” territory. Then when my margin stays above 500% even though I am in a ton of trades, that is when I’ll consider it. So, for the time being, I have decided to increase the lots used on the backend. That is why in the video you will see me entering trades at the78.6% Fibonacci level in the reverse lightning trade.
It is a good problem to have and one I had been thinking about. The last go around I had 1:400 leverage so it was easy to just double the lots used at each Fibonacci level when using the bread and butter trade. Now since I have only 1:50 leverage I can’t be as aggressive. But as my account continues to grow I can get in with more lots, especially when the price is in a “free trade” territory.
What I mean by “free trade” is that price has retraced enough to where if I enter the exit will never be below my entry.
Video: Forex Technical Analysis of all Major Pairs Week of 4/7/2019
Popular Links
Here are a couple of links if you are looking at how I view the market and some trade setups. You can create your own trading style and setups. Quit paying losing traders to teach you. The only thing they teach is how to lose money.
My Robinhood Shameless Plug
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My Robinhood Review: https://evancarthey.com/review-robinhood-trading-service-with-no-fees-part-1/
