Eaglepixel:
What's the name of the propfirm?
Cc:samfelly pls prop firm running promo currently

Winnerrrr:


Fundingpips

rainlover:
pls be careful of some of these new prop firms o

OneMillionBTC:



This mind change can turn out to be the break through you need for the next level you seek.

Winnerrrr:
guys, what's the importance of doing a weekly analysis or plotting your chart against next week when the market structure can change at any given time?

isn't it better to analyze daily when you want to enter and trade what you see?

I did a weekly projection of EU last week and concluded that it'll be bearish and EU ranged throughout the week, I got burnt because I was fixated on my weekly bearish outlook.

realone12:
😂😂😂 although us30 is more volatile, but not as bad as gold in my opinion. gold literally sets traps everywhere.. if one trap doesn't catch you, the other ones must surely catch you 🤣

Winnerrrr:
guys, what's the importance of doing a weekly analysis or plotting your chart against next week when the market structure can change at any given time?

isn't it better to analyze daily when you want to enter and trade what you see?

I did a weekly projection of EU last week and concluded that it'll be bearish and EU ranged throughout the week, I got burnt because I was fixated on my weekly bearish outlook.

rainlover:
I can't find them on Twitter boss

VeeVeeMyLuv:

Exactly on point

The first pics looks like what trader like Peteregwu uses. I don't think he has ever gone below 4h tf.

I suspect that the guy looks at weekly then uses daily for entry then use 4h to fine tune/filter

Geovanni412:


Eazy solution....

Market ranges 70% of time

So, if you are doing market analysis on weekly

Entry pts:
Your short order should be from the weekly high or open (if the bar was bearish) and from the weekly high or close (if the bar was bullish).

Depending on circumstances, you can short at middle of previous weekly bar as well but never short at weekly low

Instead short from 0.5 of the weekly range, if you see the right signals. (See e.g below for clarity)

Stop loss considerations:
Short at key levels from the previous week then use wide stop loss of like 60 pips initially, later on you can reduce it if you like.

Example:

Entering into a new week with eurusd

From the chart, you can see this
H - 1.106
C - 1.094
L- 1.092
O- 1.100

From this, if you believe it is a sell order, your entry should be from 1.106 or from 1.100

If you believe it is a breakout trade, which market rarely ever does, then you should consider using your trade method, entry from here : L - [(H-L)/2 ] = 1.092- [(1.106 -1.092)/2]
Answer = 1.085

So, your third possible consideration for short would be from 1.085 zone, but note that it is likely that the market may range upwards from there as well

If you do a backtest of 3-6 months or longer, you'll notice that this is how the market moves on the weekly

N/b: these rules are also applicable to the daily chart

karkinase:

Apt analysis on the weekly candle.. buh why not just use your Fib. tool.

XAUTrader4L2:
My entry when the market opens. Closing the week with an inverted hammer at demand zone.

Davigle:
I don't know why it's so hard to post charts on nairaland. Pls how do guys do it...

karkinase:
The reason why trading is difficult, you need to have strong analytical(technical) , psychological(emotion) , trade management and time(entry) skills coupled with understanding chart/price action jargons like orderflow, order block and liquidity

karkinase:
Today Monday we are sellling and sinking everything to the ground

VeeVeeMyLuv:

Wait first
Calm down