Alpha Circle Nsukka | Charts, Psychology & Market Discussions

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New week to chase the bags

My trade rationale was a simple retest of the 15 min liquidity pool on USDCAD. My Entry was at 1.36875 , and my invalidation level was at1.37097 . That is a tight 22 -pip risk. Because I actually practice risk management instead of dreaming about Elon's net worth, hitting that invalidation only cost me 2% of my account (2,200 naira). If you don't use invalidation levels, the market will humble you real quick . my take profit level was at 1.35495 which made me a 10,300 naira yes because my account size was 100k so it's not about having Elon musk kind of money is building a steady income source for a comfortable life through proper risk management and good discipline!

Trading is all about patience and plan so I have marked out Eurusd, and that is my plan for next week if price get to those zones and goes as planned I will execute, I want to see price break above 1.14821 which is at the blue line, then a pull back to 1.14725 and 1.14687 then I will take a buy but if price breaks below to 1.14172 my plan is invalidated so I will now look for only sells

Nice

Okay

You can refer to this chart and see my markings on different dates oil went same direction with usdcad and dates it went on different direction

Price just broke below the 1.41653 level waiting for it to break above the 1.41817 to buy USDCAD

I go need learn all over again

Longer btc here tp 65600

It's like this USDCAD is your favourite pair?

The best way to start studying the market is to stop guessing and focus on a strict, mechanical process.

To show you exactly how I break down a chart step-by-step, look at my live setup on USDCAD on 29th April now. This is the exact formula I use to study market behavior:

Step 1: I mark an order block In either 4hr, 8hr or 12hr timeframe

Step 2: I wait for price to reach that order block level at same that timeframe

Step 3: I wait for an accumulation area to form from the Asia session to London session

Step 4: I wait for newyork to sweep above both the Asia and London session for me to sell or buy, but in this case I sold

Step 5 : I wait for a retest of the breakout level after the sweep of the accumulation area

step 6: I use the Fibonacci tool to calculate 70.5 percent of that sweep label to break out once the retest gets to 70.5 I sell immediately

You can see my accumulation zone at 1.36972

The sweep level at 1.37101

The retest level @ 1.36881

I sold to the lows of that timeframe, so that's just my simple trading idea

Biko DM

How

I also trade gold infact gold is my favourite pair and I used it for my mega post

I marked my level at 4220 and 4171

Price started accumulating from 4171 and I want to see it sweep the 4220 region and reverse back into range and break a key structure level for me to sell gold on retest of 4171 to 4219