i will start a trading journal , so i will had my trade recorded in order to learn something from it,
will deposit $50 into my Tickmill account and challnge my self how long it will last. and try to trade with tight stop loss using m15-h1
my trading plan with this money
1. only trade on major, even theoritically all i can trade every instrument that tickmill provided. forex, index, Cfds, metals. but i will stick with majors only.
2.try to put tight stoploss and take profit with healty risk reward ratio
I trading strategy itself combining few strategies, using indicator like EMAs with 12,50,100.,260. and 500 periodes.
2. try to understand the fundamental aspects of the currency pairs,
well , Let us made some market review for a moment before opened a trade. W
What happened in this week which is the majority of USD rivals stronger than the USD , which means that the long-term weakening of the USD in sight
This is due to weaker US economic data than anticipated.
PMI is below expectations,
ADP which is above forecast, Forecast 195k, actual 205K
The unemployment rate rose 8k
the NFP today, market expectations about jobs created and opened : 189k ,
and if the data released under 180k can harm USD fundamentally.
With the reluctance of the Fed to raise interest rates, the ECB QE plan in March 2016, and the BOJ is set negative interest rates, today's NFP data is crucial as a guide to where the next market direction next.
Technical analysis : , based on Tickmill weekly chart, the USDJPY this week , weakened as much as 500.0 pips.
Head and Shoudler has been formed, and if the NFP data this week could make close USDJPY weekly chart with a bearish engulfing pattern, then the USDJPY weakness for the medium-long term was inevitable with the first target at 113.00 area
Recommendation :
USDJPY Bearish,
risk in the area of 121.75 -122.00
Target: 113.00, 110.00, and 109.00
will deposit $50 into my Tickmill account and challnge my self how long it will last. and try to trade with tight stop loss using m15-h1
my trading plan with this money
1. only trade on major, even theoritically all i can trade every instrument that tickmill provided. forex, index, Cfds, metals. but i will stick with majors only.
2.try to put tight stoploss and take profit with healty risk reward ratio
I trading strategy itself combining few strategies, using indicator like EMAs with 12,50,100.,260. and 500 periodes.
2. try to understand the fundamental aspects of the currency pairs,
well , Let us made some market review for a moment before opened a trade. W
What happened in this week which is the majority of USD rivals stronger than the USD , which means that the long-term weakening of the USD in sight
This is due to weaker US economic data than anticipated.
PMI is below expectations,
ADP which is above forecast, Forecast 195k, actual 205K
The unemployment rate rose 8k
the NFP today, market expectations about jobs created and opened : 189k ,
and if the data released under 180k can harm USD fundamentally.
With the reluctance of the Fed to raise interest rates, the ECB QE plan in March 2016, and the BOJ is set negative interest rates, today's NFP data is crucial as a guide to where the next market direction next.
Technical analysis : , based on Tickmill weekly chart, the USDJPY this week , weakened as much as 500.0 pips.
Head and Shoudler has been formed, and if the NFP data this week could make close USDJPY weekly chart with a bearish engulfing pattern, then the USDJPY weakness for the medium-long term was inevitable with the first target at 113.00 area
Recommendation :
USDJPY Bearish,
risk in the area of 121.75 -122.00
Target: 113.00, 110.00, and 109.00
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