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Ireoluwa
@ireoluwafx
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I love trading
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Morning coach. Trading today. Plan: AUDUSD sell on break of 0.71050 targeting 0.70880, invalidation above 0.71260. Gold no bias until London sweeps yesterday high or low. Will journal any entry.
Answer: A. An area where buying interest may help prevent price from falling further ✅
Quick breakdown:
Support = A price zone where buyers historically step in.
Think of it like a "floor" 🪜📈
When price drops to support, demand often kicks in and slows or reverses the drop.
Opposite:
Resistance = A price zone where sellers step in and it acts like a "ceiling"
Important note: Support isn't guaranteed. If price breaks below it with strong momentum, it can flip and become resistance.
A. 120 → too low
B. 140 → 200-60 fits
C. 160 → would need only 2 losses
D. 200 → that’s with 0 losses
So B is the only one that works
Forex stays open 24 hours, 5 days a week because money has to move around the world non-stop
It’s a Global Market With No Single Exchange*
Stocks trade on NYSE or LSE and close when the building closes.
*Forex is decentralized "OTC" → Banks, brokers, and institutions just trade directly with each other over computers.
No central building to lock up = no closing bell.
4. What is position sizing?
Position sizing = Deciding how much to buy so that if your stop-loss hits, you only lose the amount you planned to lose.*
It’s not “how many lots”. It’s “how do I control my dollar risk.
5. Why is risk management important?
Because strategy makes you money. Risk management keeps you from losing it all.
Trading without risk management is like driving 200mph with no brakes.
Yes coach. SMC = trade like institutions. No chasing. Wait for liquidity, BOS, then entry at order block for sniper entries.
Exactly. Second BOS confirmed smart money is selling.
Now we wait for price to come back to Order Block or Inducement to get in with them."
Exactly. First BOS = warning.
Second BOS = takeout + confirmation.
After that it’s bearish, so we sell.
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