May 6th 2018 Asian Session
This will be my first post in a series documenting my trading sessions. I will share my trades, answer questions, and hopefully shed some light on what forex is and what it isn't.
My goal might not be what you expect: I don't usually make wide price predictions or hold positions for long periods of time. Would you believe me if I said you could be a profitable trader by only trading 1 pair and having your position open for 5 - 30 minutes?
Here is my Asian session trade on USDJPY Sunday night. Over the next few posts I will share the rest of my trades from this week too.
We had a clear break of support (S) at the end of the 1 and 4 hour candles. On the new candle, we had a slight retest (R) which I entered a sell on. Secured an easy 16 pips within 16 minutes.
Hey mate, welcome to Steemit! It’s good to see some other forex traders getting involved in the community here and I’m happy to give you a follow and upvote to get you started.
The key to success here is posting consistently and engaging with others in the community. Just like in trading, there are no shortcuts. Put the time in and you’ll reap the rewards.
As for your trade, nice work 😎. I like to trade retests of previous support turned resistance just like this setup. They’re good setups that allow you to keep your risk:reward high.
I look forward to seeing more ✌🏻.
Thank you! I will definitely be sure to keep up on engagement and content. Just closed buys on USDJPY as well so I'm stacking the screenshots up. I'll get caught up on blogging some trades later tonight :)
✅ @dailyforex, congratulations on making your first post! I gave you a $.05 vote!
Please take a moment to read this post regarding commenting and spam. (tl;dr - if you spam, you will be flagged!)
Congratulations @dailyforex! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP