Forex Education

Tips on entry

Don't chase trades that already happened, let it go there will be another opportunity,
Never risk over 2% because you will not win every trade period,
Have confluence (at least two signals) and view the context (whole picture).

Tips on exit

Manage your trades by trailing your stop manually,
Cut your losses short before they bite you, watch the lower timeframes while your trade is holding.

Tips on fundamentals

Watch for market reset hours, the weekend opening and high impact news,
Wide spreads will wipe out your position and could go past your stop loss.

Check Bloomberg, Cnbc, or Youtube channels regularly so you don't get smacked by a black swan event,
People usually say to buy the rumor and sell the news but it is best to prepare for either direction.

Symbols values are pegged to their desirability and their usage (I'm currently looking for a way to tell that),
5m to 30m timeframes are more realistic in my opinion because you are closer to current movements.

Fiscal policies grow the economy making their currency stronger,
Monetary policies restrict the economy making their currency weaker.

Stocks for example don't have government protection in their dna so they can crash easily,
Exotic pairs with no liquidity provision don't move unless by government regulation.

The End

Useful side tools

Harmonic signal is an app that will scan the market for harmonic signals with a macd filter.

Nothing

Stopped using these but looks promising

[Red GMMA] under [Red McGinley]

[Adx Arrow] agree [Cycle Kroufr]

Nothing

Price Action Cycles

Price either breaks structure or retests it.

Golden One

The nice part about the rsi5 is that it shows the slope change.

Pruebe con esto y nos cuenta

dacanba wrote: Thu Jul 14, 2022 1:05 pm Pruebe con esto y nos cuenta

so basically what harmonic patterns is trying to tell you is the slope of the market in reality by a math equations which are light years ahead of my brain
just use a higher timeframes rsi slopes color change

chickensword wrote: Thu Jul 14, 2022 1:16 pm so basically what harmonic patterns is trying to tell you is the slope of the market in reality by a math equations which are light years ahead of my brain
just use a higher timeframes rsi slopes color change

What's the higher timeframe you're using relative to the AUDNZD M5 chart, and what are the settings? I'm attempting to use the indicator but can't replicate the appearance you have in your picture.