austinlmkc

austinlmkc

Key Levels on USD/JPY indicate a range. 1 HR KL major support - Next move heading to 1 HR KL of Resistance. PIP Projection: Profit +68.2 Loss: -28.2

austinlmkc

Key Points: Supply and Demand - Economics Equilibrium price point = Optimal Buy/Sell Point? Next support zone coincides with Take Profit Level Break of uptrend line Bottom uptrend line is not parallel with top uptrend line = Weak Uptrend? Wait till price reaches point (if it does) Look to create sell positions if Price shows strong resistance at level

austinlmkc Updated 

If I were to enter this trade with a 5% risk with a $5000 account Profit = $1262.02 Total Amount = $6262.02 Loss = $250.00 Total Amount = $4750.02 Total Trades = 20 with a 5% risk Goal = < 50% Win Rate Key Points: Fibonacci Level Support - Resistance - Key Levels 61.80% Lined up with support level Trend line + Support level = Trading Range...

austinlmkc

If I enter this trade with a $5000 account and a 5% risk/reward. Trade 2 Result = ?

austinlmkc

Triple Bottom on AUD/CHF - 1 HR timeframe. Appears at the bottom of a downtrend. Possible reversal to the upside. Would set a buy limit order between Fib level 38.20% and 50%.

austinlmkc Updated 

GBP/AUD on the 1 hour time frame. Lot of buys happened recently on this pair and the Fibonacci Retracement tool is a go to right now. If you don't know how to use it I would time some time to practice. Currently this pair would be a good pair to practice on. Sentiment is overall a strong bullish. Fibonacci buy order at the 38.20% level. If price doesn't hit it...

austinlmkc

Playing around with the charts and this is what came of it. My last idea post is of this same exact pair: GBP/AUD and it shows the overall sentiment of the market on a weekly timeframe if I am not mistaken.Take a look at my last post and put the pieces together to get a more in depth perspective of this pair.

austinlmkc

The trend lines depict the overall trading zone. I think GBP/AUD is in the perfect Buy position and that is just my opinion. As traders I also think it's important to build a community of like minded traders. Let's help each other out to success. I think the journey will be much more valuable . Good luck traders and let me know if you think I could do...

austinlmkc

Entered the trade at price point: 1.3295 = 23.60% level. The proper move would have been to wait till the 50% - 61.80% to confirm a reversal at this present price zone. It's funny because I have signals on my phone that show the sentiment of the market on whether to buy or sell. USD/CAD was in the sell at the time I called the trade and is now Neutral. Note to...

austinlmkc

If price action depicts a loss of momentum at the level of major resistance I could be looking for my first possible sell opportunity. Price could break past it and consolidate once more before heading to the downside in what I think will happen. Two sell opportunities could possible happen. The observation to be aware of is some kind of formation at the major...

austinlmkc Updated 

4HR and 1HR Timeframe depicts a double top. Price broke the neckline and is now currently retracing. Price is sitting at Fib Level 38.20% (Green Zone) - Price action indicates that bears have some momentum. I think bears will start to reach resistance right around Fib Level 50.00% if bears continue to remain strong last enter could be around Fib Level 60.00%. If...

austinlmkc

GBP/AUD has hit the major resistance level for a second time to the downside and price action shows that theres is consolidation followed by some light bullish action to the upside. Price consolidated in the buy zone and eventually closed above the top level of the buy zone. Market structure depicts a triple bottom. Now looking to see how price plays out at the...

austinlmkc Updated 

Is this an opportunity for a buy or sell? Trading Journal #10 - Austin S.

austinlmkc

I like the range of price that I see on the Monthly time chart. From what I observe the pair is in an overall uptrend. Price broke a major support level and is now retracing back up for what I think could be a re-test. Fibonacci Retracement level 0.5 is in sync with the same broken major support level so I would keep an eye out. According to price action on the 4...

austinlmkc

AUD/USD is hitting resistance at Fibonacci Level 0.382 on the Daily timeframe. The overall monthly trend is a downtrend. Key Level is between 0.382 and .5. The ideal situation would be a signal of retracement at this price range. I think if the price passes the monthly key level it could be a sign of a reversal but I think the odds of a reversal happening is less...

austinlmkc

In forex you are taught to trade the major pairs. Any other pair is basically not a focus. Well I came across this pair and see that price is approaching an area of major resistance. Obviously it will take some time for this setup to actually play out. I think if it sets up the way I see that it could then a good amount of pips could be made on this pair. This...

austinlmkc

USD/GBP = Overall the pair is in an uptrend according to monthly timeframe. Price is approaching a major key level. Price action suggests strong bullish movement. Overall I think bulls will tire at the key level and consolidate at this level. Price will then either do one of two things. 1st: Continue past the key level and further move up to the monthly uptrend...

austinlmkc

USD/JPY is in an overall downtrend on the monthly. Daily chart shows a Double Top pattern. Price has broken the neckline on the impulse towards the downside and retraced back to the upside with a precise rejection at the 0.5 level of the fibonacci retracement tool. I think price could consolidate between 0.5 and the 4HR key level for a bit but I think my overall...