gold breaks out

Let's watch the gold ...this is probably one of my next trades:

My first FOREX order

Today I entered my first FOREX order. It was a market order, I went LONG on EUR/USD and bought at 1.58975 ( with a stop loss at 1.578). Here is the snapshot of the market:

As you can see a new breakout is on its way as the momentum is increasing ( see RSI). The risk is almost 10$/lot and the expectation is at least 1:1 (meaning at least 10$ reward/ lot)  as the rate is going to hit new highs. 

Happy trading !

filling the gaps

Take a look at the next 30 min charts and see how the gaps have been filled thoughout the day


This is SIF2



this is sif2_iun

The four phases of entry

1. Market selection
- liquidity
- newness of the market
- market makers and trading rules
- volatility
- capitalization
- markets and trading criteria ( how well does the market follow your trading criteria)
- market independence

2. Market direction

3. Setup condition
- a window of opportunity
- fundamental conditions
- seasonal conditions
- any other significant criteria.

4. Market timing