KD Trades

Kooyar

TFG Forum Junkie
CADJPY-20171213-SELL.JPG

Closed my short position on CADJPY WITH -30% loss.
Have opened a new long position.

Buy 89.21-20171226.JPG
 
Last edited:

erebus

TFG Forum Legend
CADJPY hard pair to pick the trend. I see some analysis that has the trend line drawn like this; as if it has been broken downside and now being retested. Take care

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aaron james

Forum Newbie
Hi Kooyar

Can I ask why do you open lots of trades on one pair? Do you go to lower timeframes to enter there? can you teach me? thanks
 

Kooyar

TFG Forum Junkie
Hi Kooyar,
Do you mean you open position if there is a signal on 1hr, 4hr, & Daily on the same timeframe if they are all in alignment with the daily?
Not necessarily. They don't need to be aligned. The long term chart might show an uptrend however, short term timeframe might show a down trend. What is important here is understanding the power of trends. A small pullback in H1 can be equal to 20-30 pips but a pullback in monthly chart can be equal to 100-300 pips too. Price is naturally oscillating but in different timeframes at any time. It think it's only important that you study the chart in different timeframes and understand the relationships between timeframes and also understand the patterns. You will realize that the pattern that price follows is same.
I also suggest that you never limit yourself to daily chart only. Check weekly & monthly too. From the other side, check the 30 min, 15 min charts as well. Hope these few things can be helpful.
 

Kooyar

TFG Forum Junkie
Update on GBP/CAD sell position
Trade duration: 35 days
Floating profit/ ROI: 655 pips/ 92%

Screen Shot 2018-08-06 at 6.15.37 PM.png
 
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