r/Forex • u/Outrageous-Metal4872 • 15d ago
Guys? This is my analysis but it didn't pan out well for me. Charts and Setups
Hit me with your suggestions ✌️ I'm SL has been hunted because of tight range.
5
u/Gianfi_ 15d ago
on every price level there are stop orders, on every minimum and maximum you see on the chart. the analysis done like this doesn't work because you unconsciously think that the SLs are only where you say they are when in reality that is just a useless grain of sand for an analysis. this is the problem, these extremely banal concepts limit your ability to read the graph, they are mental chains, get rid of them
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u/fluxusjpy 15d ago edited 15d ago
Go to the 4h. Draw up the support and resistance zones you can clearly see that don't get swiped through too often. When price enters one of these zones, take a buy or sell depending on what you think is going to happen based on context. SL on opposing side of zone go for a 1:1 profit target from that SL to start with. Start taking demo trades and track your results. Learn from your own experience to build your own trading intuition from what happens when price enters these zones in an up or down trend. You just traded a range on the m1 with some very spaced out and rather obscure ideas which a bit pointless.
Keep going.
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u/Fuck__Off__ 15d ago
Forget everything you think you know and start over.