Pezza's Posts - Page 3

EURGBP set up ideas in Experienced Traders May 31, 2022 at 17:12

EURGBP ideaOk so from last week I closed off my sell position in profit. With the drive down stalling and consolidating its time to look at the next set up.Currently with GBP on bank holiday this week I will be looking for EUR to have some strength.We have relative equal lows and a fib retracement level to use as confluences going in to this trade.Where I have my entry we have an imbalance in price that would be good to be filled in this only needs to be 50% of the candle so looking at London open if we break down to the zone then Keep a close eye on market structure. Remember key entry and pr...

USDJPY set up ideas and trades in Experienced Traders May 26, 2022 at 18:11

USD/JPY back on the chartsI have not touched this pair for the last month as we seen higher highs getting taken all over the place.Now currently we have seen significant breaks across different timeframes and now broken a daily swing point.We have retraced slightly and we are back above the 50% level and currently in sell side liquidity. Ideally we want to break above the previous highs set out today and then break back down with some speed to show willingness to the down side. Todays 4hour set up DID NOT TAKE THE LOWS so watch out as we could be in for a short term reversal also then you need...

EURGBP set up ideas in Experienced Traders May 18, 2022 at 13:45

EURGBP Took a nice short term sell from the area I had marked up and we broke down nicely back in to the buy side area of the structure.From here and with FOMC speech tonight and GBP CPI tomorrow I will be looking for this pair to continue back up.The retrace of this move has broken the trendline traders out of the market and looking to take liquidity below short term lows and back in to buy side imbalance in price.With the use of a fib you will see the area marked out is between 70% and 79%.There is a nice area to the left and hold the higher timeframe lows.If we get this move then we will ne...

EURGBP set up ideas in Experienced Traders May 10, 2022 at 14:11

EURGBP We have been seeing some good up moves from this pair recently.As you can see from the chart we are near the top of the buy side move.There is a nice area to the left and we have now set out relative equal highs, so I will be looking for a liquidity grab above the equal highs and then a short term drop.From here I would like to see it push back up higher long term so will not be holding the position to long and taking profits at sensible times.If we get this move then we will need to see how the market reacts at the pervious low before our next move.

USDJPY set up ideas and trades in Experienced Traders Mar 31, 2022 at 19:36

USDJPY Long set upRight people this is what I am looking at going in to NFP tomorrow.With the DXY showing a bit of weakness we could see this pair setting up for a sell off but before we do I feel we could beak down below the low to in trap sellers to the market and then look to retrace back up to discount and above an old high before we see real driving selling force for the long move. So with that in mind I am looking to find a key entry and short term intraday set up to catch the moves.Keep a close eye on market structure and remember key entry and price action will be needed.Make sure you...

USDJPY set up ideas and trades in Experienced Traders Mar 24, 2022 at 19:53

USDJPY Price Correction.JPY has been weak across the board with some huge moves across the board on these pairs. But at some point there must be some form of correction.For this I will be looking for a 4 hour rejection of the run up tomorrow London session. then setting up a sell going in to New York.As you can see marked out on the daily timeframe I will be targeting 50% of the move up and we can see a red candle in the middle of all the green candles which is out of place and needs mitigating.This trade idea is only short term as currently market structure is still very bullish and we will s...

EURGBP set up ideas in Experienced Traders Mar 22, 2022 at 19:30

EURGBP London set up ideaWith EURGBP dropping down over the last few days we could be seeing a retrace from the bullish move last week back below the 50% area ready to move up again.We have seen the strength in GBP with the interest rate rise pushing this pair back down.I will be looking out for a mid week move and a break in lower TF structure to show some bullish momentum before I look to enter. Bear in mind there is another level at the 79% on the fib that we could push on down to and then break to the upside from there longer term. with both ideas I am still looking for buys to come in to ...

USDJPY set up ideas and trades in Experienced Traders Mar 17, 2022 at 20:52

USDJPY Swing idea.Looking at this possible set up for London open tomorrow.This pair has currently climbed all the way up over the last few mouths and we have just come up to above where we were at in Dec 2016. Now just because we have gone this high does not mean we will come all the way back down but I do think we will see a short term retracement over the next few days to correct the current move.Now currently on the 1 hour we have broken structure to the down side, would be good to see a clear 4 hour break of structure for more confirmation.Keep a close eye on market structure and remembe...

What's your recommendations on brokers for scalping? Based on experience in Experienced Traders Mar 17, 2022 at 15:28

yeah an off shore broker will give you tighter spreads and lower commissions scalping is good but you need to make sure your broker liquidity is true and consistent through out Icmarkets was always good but find EagleFX slightly better for scalp trading

EURGBP set up ideas in Experienced Traders Mar 16, 2022 at 06:42

EURGBP has taken the daily highs last week and made a clear change in the overall structureWith the current news line up tomorrow London session could see this set up form. on the daily we have a clear gap in the wick that needs filling before the next big leg up. also on the 4 hour we have a FVG and area of reaction.The news line up for tomorrow is EUR first and then GBP so looking for this to react at this level and then break back up for lower TF market structure before the GBP news.Keep a close eye on market structure and remember key entry and price action will be needed.Make sure you use...

USDJPY set up ideas and trades in Experienced Traders Mar 10, 2022 at 21:17

USDJPY TGIF set upLooking at this possible set up for London open tomorrow or New York session.This pair reacted nicely last week and dropped back down after taking the relative equal high, this time i am looking for it to push up and seek the liquidity from the external range above last weeks high in the market open tomorrow and reverse back for a Friday close to the week.As you can see we have taken the highs of the week and are now towards the high of last month. From here I would look for a Friday drop before we continue higher in to next week.Every thing will need to be correct before I e...

Any 500 to 1 leverage brokers left? in General Mar 07, 2022 at 18:57

yeah people been trading with 1:500 leverage a lot of them do it now days and just trying to compete with each other, EagleFX has offered 1:500 on forex and 1:100 on crypto for years now with no issues.

5 Things I have learned in 5 years of trading! in General Jan 10, 2022 at 16:05

This is the statement I relate to the most, after so long learning and building i feel i have so much knowledge but lack the confidence in my own ability."If you can't spot the liquidity then you are the liquidity."

Dogecoin in Crypto Dec 31, 2021 at 18:18

now that Doge can be traded on some crypto platforms then its appeal to some could be a lot grater. also there are many that like it due to the musk backing but to be honest if you do your homework on the workings and background of doge then there are many others out there much better such as SOL or LUNA

Learning is a nonstop procedure in General Dec 31, 2021 at 18:08

this seems to be the story of my trading, every time i think i have it down or understand the movements my mentor then throws in another reason or rhyme to look deeper at what happen and why showing understanding and knowledge way past my current skill set.

Risky business in General Dec 31, 2021 at 18:05

you need to take some form of risk in life to make a gain. if you are not putting any thing on the table then you cant expect to make gains, now the importance is to not put any thing down you are not willing to lose and that you take an educated assessment of the risk to reward and understand that it will not all ways play out in your favour there for double and nothing stakes dont work for you

Are you afraid to lose your trade? in General Dec 31, 2021 at 18:01

there was a time when all i could see was losing trades. but that was before understanding risk management and self control. i used to move the sl as i would think a trade would turn and it would just go deeper. now if it hits sl its just 1% so no worries no problem it happens from time to time with every trader

How to Avoid Forex Losses In Forex Trading? in New Traders Dec 29, 2021 at 16:17

The key is to keep your risk levels low. Never trade without a stop loss. Invest in your forex education and use a demo account to build on skills.

Greetings to all in New Traders Nov 30, 2021 at 18:58

Hi welcome to the group, please feel free to tell us a bit about yourself. How long have you been trading for? Do you trade forex or crypto too?

Cryptocurrency in Crypto Nov 30, 2021 at 18:45

Invest in your own learning with reliable information. Take a look on youtube at those who have a high number of views or followers and learn all you can. Be careful who you trust when it comes to trading, far too many scammers out there. Also, no-one is 100% profitable, if you think this is a way to get rich quick I would walk away now.

All Quotes
AUDUSD	0.65603	USDCHF	0.91053
EURJPY	167.86	EURCHF	0.97589
EURGBP	0.85379	GBPJPY	196.648
EURUSD	1.07179	GBPUSD	1.25525
USDJPY	156.662	USDCAD	1.3651

EURUSD	1.07179	GBPUSD	1.25525
USDJPY	156.662	USDCAD	1.3651

Posts by Pezza