{"id":799,"date":"2019-08-25T22:59:53","date_gmt":"2019-08-25T13:59:53","guid":{"rendered":"https:\/\/forex-kei.com\/?p=799"},"modified":"2019-11-02T18:38:31","modified_gmt":"2019-11-02T09:38:31","slug":"how-to-position-trades-without-buy-and-sell-bias","status":"publish","type":"post","link":"https:\/\/forex-kei.com\/?p=799","title":{"rendered":"How to position trades without buy and sell bias (Live Traded)"},"content":{"rendered":"<p class=\"p1\">This is my analysis on EURGBP because first of all<span class=\"s1\">,<\/span> I see it<span class=\"s1\">\u2019<\/span>s a good chance to buy and I will tell you the reason from my own analysis<span class=\"s1\">,<\/span> but today<span class=\"s1\">,<\/span> I wanted to talk about how to see a chart without any bias so that you can always be flexible whether the price goes up or down<span class=\"s1\">,<\/span> because no one can predict the movement in the future.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-804\" src=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/1f52cfb247eaa8005169869b28df10ef-1024x573.png\" alt=\"\" width=\"728\" height=\"407\" srcset=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/1f52cfb247eaa8005169869b28df10ef-1024x573.png 1024w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/1f52cfb247eaa8005169869b28df10ef-300x168.png 300w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/1f52cfb247eaa8005169869b28df10ef-768x430.png 768w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/1f52cfb247eaa8005169869b28df10ef-728x408.png 728w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/><\/p>\n<p class=\"p1\">But <strong>good traders always make profit over time because they have plans<span class=\"s1\">,<\/span> and those plans are based on <span class=\"s1\">\u201c<\/span>if<span class=\"s1\">\u201d<\/span> questions<\/strong><span class=\"s1\">,<\/span> like <span class=\"s1\">\u201c<\/span>if the price goes up<span class=\"s1\">,<\/span> then I will do this<span class=\"s1\">\u201d<\/span> or <span class=\"s1\">\u201c<\/span>If the price goes down<span class=\"s1\">,<\/span> I will do that.<span class=\"s1\">\u201d<\/span> things like that. It<span class=\"s1\">\u2019<\/span>s called <span class=\"s1\">\u201c<\/span>conditional branch thinking<span class=\"s1\">\u201d<\/span> like you create few scenario depending on the possible conditions of the chart<span class=\"s1\">,<\/span> so it<span class=\"s1\">\u2019<\/span>s kind of close to the algorithm in programming. And this is the thinking pattern I always have every time I trade<span class=\"s1\">,<\/span> and I will show you how I do this.<\/p>\n<h2 class=\"p1\">Watch the video<\/h2>\n<div class=\"epyt-video-wrapper\"><iframe loading=\"lazy\"  id=\"_ytid_34333\"  width=\"780\" height=\"439\"  data-origwidth=\"780\" data-origheight=\"439\" src=\"https:\/\/www.youtube.com\/embed\/BHx_LcitH6k?enablejsapi=1&#038;autoplay=0&#038;cc_load_policy=0&#038;cc_lang_pref=&#038;iv_load_policy=1&#038;loop=0&#038;modestbranding=1&#038;rel=1&#038;fs=1&#038;playsinline=0&#038;autohide=2&#038;theme=dark&#038;color=red&#038;controls=1&#038;\" class=\"__youtube_prefs__  epyt-is-override  no-lazyload\" title=\"YouTube player\"  allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen data-no-lazy=\"1\" data-skipgform_ajax_framebjll=\"\"><\/iframe><\/div>\n<h2 class=\"p1\">EURGBP Daily Analysis<\/h2>\n<p class=\"p1\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-800 size-large\" src=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/ea650d892fce04a0b88b7db9101f3a3f-1024x575.png\" alt=\"\" width=\"728\" height=\"409\" srcset=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/ea650d892fce04a0b88b7db9101f3a3f-1024x575.png 1024w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/ea650d892fce04a0b88b7db9101f3a3f-300x168.png 300w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/ea650d892fce04a0b88b7db9101f3a3f-768x431.png 768w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/ea650d892fce04a0b88b7db9101f3a3f-728x409.png 728w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/>Ok<span class=\"s1\">,<\/span> this is the Daily chart of EURGBP since the last year of June but let<span class=\"s1\">\u2019<\/span>s just overview the movement first.<\/p>\n<p class=\"p1\">Since last June<span class=\"s1\">,<\/span> the price went up<span class=\"s1\">,<\/span> supported by this 20MA<span class=\"s1\">,<\/span> the pink line. Then<span class=\"s1\">,<\/span> it broke the 20MA downwards<span class=\"s1\">,<\/span> and also Ichimoku cloud<span class=\"s1\">,<\/span> so it suggested it<span class=\"s1\">\u2019<\/span>s the end of the bull trend on this Daily time frame. Then<span class=\"s1\">,<\/span> it went up and down a couple of times<span class=\"s1\">,<\/span> creating like W bottom<span class=\"s1\">,<\/span> then the price went up<span class=\"s1\">,<\/span> but it couldn<span class=\"s1\">\u2019<\/span>t go over the recent highest<span class=\"s1\">,<\/span> so eventually the price was resisted and went straight down<span class=\"s1\">,<\/span> breaking 20MA and Ichimoku cloud downwards<span class=\"s1\">,<\/span> then it went up once<span class=\"s1\">,<\/span> or twice<span class=\"s1\">,<\/span> then it went down further.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-801\" src=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/bc82de9dad2c14a80b8e0855d23e4700-1024x573.png\" alt=\"\" width=\"728\" height=\"407\" srcset=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/bc82de9dad2c14a80b8e0855d23e4700-1024x573.png 1024w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/bc82de9dad2c14a80b8e0855d23e4700-300x168.png 300w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/bc82de9dad2c14a80b8e0855d23e4700-768x430.png 768w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/bc82de9dad2c14a80b8e0855d23e4700-728x408.png 728w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/><\/p>\n<p class=\"p1\">Then the price has been supported at this 0.8489 level couple of times<span class=\"s1\">,<\/span> and created like triple bottom<span class=\"s1\">,<\/span> and after that<span class=\"s1\">,<\/span> the price broke 20MA and also Ichimoku Cloud upwards<span class=\"s1\">,<\/span> and started bull trend. Later\u00a0the price has been supported by this 20MA couple of times<span class=\"s1\">,<\/span> but in the end of July<span class=\"s1\">,<\/span> as you can see<span class=\"s1\">,<\/span> it went down to this level<span class=\"s1\">,<\/span> where you can draw a line like this on these points<span class=\"s1\">,<\/span> then it went straight upwards<span class=\"s1\">,<\/span> breaking the recent highest and renewed the highest price level<span class=\"s1\">,<\/span> then now<span class=\"s1\">,<\/span> it<span class=\"s1\">\u2019<\/span>s coming back down to the previous highest price level.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-802\" src=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/42e2b17e96ea6f7abed2f1ed4393912d-1024x572.png\" alt=\"\" width=\"728\" height=\"407\" srcset=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/42e2b17e96ea6f7abed2f1ed4393912d-1024x572.png 1024w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/42e2b17e96ea6f7abed2f1ed4393912d-300x168.png 300w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/42e2b17e96ea6f7abed2f1ed4393912d-768x429.png 768w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/42e2b17e96ea6f7abed2f1ed4393912d-728x407.png 728w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/><\/p>\n<p class=\"p1\">So as far as I see this chart<span class=\"s1\">,<\/span> it<span class=\"s1\">\u2019<\/span>s a great place to buy because if the price is supported on this level<span class=\"s1\">,<\/span> the initial target could be the recent highest up to the highest level which is about 250 pips<span class=\"s1\">,<\/span> and in that case<span class=\"s1\">,<\/span> and the stop loss would be right below the most recent lowest<span class=\"s1\">,<\/span> so the risk to reward ratio will be very good.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-803\" src=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/d184784495de29a08652326a73860e70-1024x571.png\" alt=\"\" width=\"728\" height=\"406\" srcset=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/d184784495de29a08652326a73860e70-1024x571.png 1024w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/d184784495de29a08652326a73860e70-300x167.png 300w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/d184784495de29a08652326a73860e70-768x428.png 768w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/d184784495de29a08652326a73860e70-728x406.png 728w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/><\/p>\n<p class=\"p1\">Also<span class=\"s1\">,<\/span> when I place the fibonacci retracement between the recent lowest and highest<span class=\"s1\">,<\/span> <span class=\"s1\">,<\/span> the current price is near 61.8%<span class=\"s1\">,<\/span> so if the price is supported by this level and go up<span class=\"s1\">,<\/span> then I can expect a big profit<span class=\"s1\">,<\/span> and it would be a great entry timing. Alright<span class=\"s1\">,<\/span> that was the scenario when I buy in this condition.<\/p>\n<p class=\"p1\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-807\" src=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/31d8c53756040c8970e3d45f01097bbc-1024x573.png\" alt=\"\" width=\"728\" height=\"407\" srcset=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/31d8c53756040c8970e3d45f01097bbc-1024x573.png 1024w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/31d8c53756040c8970e3d45f01097bbc-300x168.png 300w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/31d8c53756040c8970e3d45f01097bbc-768x429.png 768w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/31d8c53756040c8970e3d45f01097bbc-728x407.png 728w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/><\/p>\n<p class=\"p1\">But think differently. Imagine when the price breaks downwards here.<\/p>\n<p class=\"p1\">If the price breaks this level downwards<span class=\"s1\">,<\/span> initially the price might extend because there might be stop loss orders of those who have buy positions below this line<span class=\"s1\">,<\/span> so if the price breaks here downwards<span class=\"s1\">,<\/span> it could go down to this level.<\/p>\n<p class=\"p1\">Another case might be it will be a range for a while at this level<span class=\"s1\">,<\/span> you know<span class=\"s1\">,<\/span> consolidate and hovering around<span class=\"s1\">,<\/span> and eventually goes up or down. That<span class=\"s1\">\u2019<\/span>s something we never know. However<span class=\"s1\">,<\/span> I am thinking to place buy for now<span class=\"s1\">,<\/span> and I will tell you the reason why later.<\/p>\n<p class=\"p1\">Alright<span class=\"s1\">,<\/span> let<span class=\"s1\">\u2019<\/span>s look at H1 chart and see the current price action closer.<\/p>\n<h2 class=\"p1\">EURGBP H1 Analysis<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-808\" src=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/345fa985c825e928f5511eee9fcb0b75-1024x572.png\" alt=\"\" width=\"728\" height=\"407\" srcset=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/345fa985c825e928f5511eee9fcb0b75-1024x572.png 1024w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/345fa985c825e928f5511eee9fcb0b75-300x168.png 300w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/345fa985c825e928f5511eee9fcb0b75-768x429.png 768w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/345fa985c825e928f5511eee9fcb0b75-728x407.png 728w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/><\/p>\n<p class=\"p1\">This is the H1 chart of EURGBP as of 23rd of August<span class=\"s1\">,<\/span> 2019.<\/p>\n<p class=\"p1\">And if you look at it<span class=\"s1\">,<\/span> few days ago<span class=\"s1\">,<\/span> the price was coming down<span class=\"s1\">,<\/span> resisted by 20MA.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-809\" src=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/b238715d9460eb12fc201167f96c6af5-1024x574.png\" alt=\"\" width=\"728\" height=\"408\" srcset=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/b238715d9460eb12fc201167f96c6af5-1024x574.png 1024w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/b238715d9460eb12fc201167f96c6af5-300x168.png 300w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/b238715d9460eb12fc201167f96c6af5-768x431.png 768w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/b238715d9460eb12fc201167f96c6af5-728x408.png 728w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/><\/p>\n<p class=\"p1\">Then<span class=\"s1\">,<\/span> it became a range consolidation<span class=\"s1\">,<\/span> kind of looking like a flag pattern here<span class=\"s1\">,<\/span> and the price broke downwards by following the bearish trend direction of this H1 timeframe.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-810\" src=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/726679f379d72e599e8023bde7ef7568-1024x572.png\" alt=\"\" width=\"728\" height=\"407\" srcset=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/726679f379d72e599e8023bde7ef7568-1024x572.png 1024w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/726679f379d72e599e8023bde7ef7568-300x168.png 300w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/726679f379d72e599e8023bde7ef7568-768x429.png 768w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/726679f379d72e599e8023bde7ef7568-728x407.png 728w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/><\/p>\n<p class=\"p1\">And this is where the support line is in the Daily chart as you saw earlier<span class=\"s1\">,<\/span> so that<span class=\"s1\">\u2019<\/span>s why the price stopped here.<\/p>\n<p class=\"p1\">And this is why I see multiple time frame because if you don<span class=\"s1\">\u2019<\/span>t look at Daily chart and only looking at this H1 chart<span class=\"s1\">,<\/span> you never expect the price will stop here<span class=\"s1\">,<\/span> right<span class=\"s1\">?<\/span> And you might be jumping in to the market and sell here<span class=\"s1\">,<\/span> after you saw this huge drop<span class=\"s1\">,<\/span> and you will be getting loss by now. You know<span class=\"s1\">,<\/span> because of the bearish trend on this H1 time frame<span class=\"s1\">,<\/span> there was a chance that it might not be supported here and went straight down<span class=\"s1\">,<\/span> and it still may be the case<span class=\"s1\">,<\/span> but that<span class=\"s1\">\u2019<\/span>s something that no one knows. But if you are able to see a line here on Daily time frame<span class=\"s1\">,<\/span> at least<span class=\"s1\">,<\/span> you have an expectation that the price might be supported here<span class=\"s1\">,<\/span> and it could bring you an additional option to create your own scenario.<\/p>\n<p class=\"p1\">And that<span class=\"s1\">\u2019<\/span>s why it<span class=\"s1\">\u2019<\/span>s important to see a chart in multiple viewpoint<span class=\"s1\">,<\/span> so that you won<span class=\"s1\">\u2019<\/span>t be biased toward just 1 direction. So whenever you place any orders<span class=\"s1\">,<\/span> always think from buy side and sell side<span class=\"s1\">,<\/span> then you make your own call. That way<span class=\"s1\">,<\/span> you won<span class=\"s1\">\u2019<\/span>t be fooled by the price actions that you didn<span class=\"s1\">\u2019<\/span>t expect.<\/p>\n<p class=\"p1\">So anyways<span class=\"s1\">,<\/span> as far as I see the chart<span class=\"s1\">,<\/span> the price looks to be supported on the Daily support line<span class=\"s1\">,<\/span> and I see the long wick pointing downwards<span class=\"s1\">,<\/span> so that<span class=\"s1\">\u2019<\/span>s why I think this is a great chance to buy here. Plus<span class=\"s1\">,<\/span> if I place long here<span class=\"s1\">,<\/span> the risk<span class=\"s1\">,<\/span> right<span class=\"s1\">?<\/span> the stop loss will be placed here and it can be just like 20 pips<span class=\"s1\">,<\/span> which is a good deal to expect a big amount of reward towards the previous highest of Daily time frame which is like 250 pips<span class=\"s1\">,<\/span> which means the risk to reward ratio is like 1 to 12 on this trade. And also<span class=\"s1\">,<\/span> even if the price goes backwards and get loss cut<span class=\"s1\">,<\/span> I just get 20 pips<span class=\"s1\">,<\/span> and it makes me easier to control lot sizing too.<\/p>\n<p class=\"p1\">So I could place long on this H1 time frame<span class=\"s1\">,<\/span> but let<span class=\"s1\">\u2019<\/span>s just see M15 chart to see what we can analyze further.<\/p>\n<h2 class=\"p1\">EURGBP M15 Analysis<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-811\" src=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/ce8236dc936f566db7122e576b883904-1024x575.png\" alt=\"\" width=\"728\" height=\"409\" srcset=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/ce8236dc936f566db7122e576b883904-1024x575.png 1024w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/ce8236dc936f566db7122e576b883904-300x168.png 300w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/ce8236dc936f566db7122e576b883904-768x431.png 768w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/ce8236dc936f566db7122e576b883904-728x408.png 728w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/><\/p>\n<p class=\"p1\">Ok<span class=\"s1\">,<\/span> here is the M15 chart. Look how fast the price dropped yesterday<span class=\"s1\">,<\/span> then supported on this level as we saw in Daily time frame.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-812\" src=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/9c0ba50909bf284baa65816c873d1045-1024x572.png\" alt=\"\" width=\"728\" height=\"407\" srcset=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/9c0ba50909bf284baa65816c873d1045-1024x572.png 1024w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/9c0ba50909bf284baa65816c873d1045-300x168.png 300w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/9c0ba50909bf284baa65816c873d1045-768x429.png 768w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/9c0ba50909bf284baa65816c873d1045-728x407.png 728w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/><\/p>\n<p class=\"p1\">And after the drop<span class=\"s1\">,<\/span> you can see the price has been lower high<span class=\"s1\">,<\/span> higher high<span class=\"s1\">,<\/span> and it<span class=\"s1\">\u2019<\/span>s moving up gradually. So you can see the current sentiment of the market is bullish within this smaller time frame.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-813\" src=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/c009d967301981319964af27904920b8-1024x573.png\" alt=\"\" width=\"728\" height=\"407\" srcset=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/c009d967301981319964af27904920b8-1024x573.png 1024w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/c009d967301981319964af27904920b8-300x168.png 300w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/c009d967301981319964af27904920b8-768x429.png 768w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/c009d967301981319964af27904920b8-728x407.png 728w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/><\/p>\n<p class=\"p1\">However<span class=\"s1\">,<\/span> the recent pull back is strong here<span class=\"s1\">,<\/span> but as long as the price won<span class=\"s1\">\u2019<\/span>t break this lowest level downwards<span class=\"s1\">,<\/span> we can say it<span class=\"s1\">\u2019<\/span>s still bullish.<\/p>\n<p class=\"p1\">So let me place buy here<span class=\"s1\">,,,<\/span> and place stop loss right below the recent lowest price level. I just go for 5 lots this time because of 2 reasons.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-814\" src=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/105da5e96abef18258d433f97d216a45-1024x573.png\" alt=\"\" width=\"728\" height=\"407\" srcset=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/105da5e96abef18258d433f97d216a45-1024x573.png 1024w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/105da5e96abef18258d433f97d216a45-300x168.png 300w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/105da5e96abef18258d433f97d216a45-768x430.png 768w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/105da5e96abef18258d433f97d216a45-728x407.png 728w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/><\/p>\n<p class=\"p1\">1 is I am still doubtful that the price might be break downwards<span class=\"s1\">,<\/span> because I still don<span class=\"s1\">\u2019<\/span>t confirm the push backs after the spike down. Like if the price is pushed back twice or couple of times here<span class=\"s1\">,<\/span> then the support here will become more reliable<span class=\"s1\">,<\/span> but I don<span class=\"s1\">\u2019<\/span>t see that evidence yet. that<span class=\"s1\">\u2019<\/span>s why I am still doubtful.<\/p>\n<p class=\"p1\">But the reason why I placed long here is<span class=\"s1\">,<\/span> and this is why I placed just 5 lots<span class=\"s1\">,<\/span> but that<span class=\"s1\">\u2019<\/span>s because like I said earlier<span class=\"s1\">,<\/span> I expect high reward on this trade<span class=\"s1\">,<\/span> you know<span class=\"s1\">,<\/span> the target is the recent highest on Daily timeframe<span class=\"s1\">,<\/span> which is like 250 pips. So on this trade<span class=\"s1\">,<\/span> it will be like a swing trade<span class=\"s1\">,<\/span> you know<span class=\"s1\">,<\/span> like I will let the time earn money<span class=\"s1\">,<\/span> not by the lot sizing and leverage. I don<span class=\"s1\">\u2019<\/span>t know how many days I will hold the position until it hits the target<span class=\"s1\">,<\/span> but as long as it remains on bullish<span class=\"s1\">,<\/span> I will keep holding the position.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-815\" src=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/8f810e7ddaf46c63231701da53957e72-1024x574.png\" alt=\"\" width=\"728\" height=\"408\" srcset=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/8f810e7ddaf46c63231701da53957e72-1024x574.png 1024w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/8f810e7ddaf46c63231701da53957e72-300x168.png 300w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/8f810e7ddaf46c63231701da53957e72-768x431.png 768w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/8f810e7ddaf46c63231701da53957e72-728x408.png 728w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/><\/p>\n<p class=\"p1\">But for example<span class=\"s1\">,<\/span> if the price is resisted here a couple of times<span class=\"s1\">,<\/span> or if there will be a triangle of flag chart patterns here<span class=\"s1\">,<\/span> then there will be a great chance that the price will drop down further<span class=\"s1\">,<\/span> so in that case<span class=\"s1\">,<\/span> I will close the position before it hits loss cut.<\/p>\n<h2 class=\"p1\">After Few Hours&#8230;<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-816\" src=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/861bc0aa57278e214b852415f6e4f9f3-1024x572.png\" alt=\"\" width=\"728\" height=\"407\" srcset=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/861bc0aa57278e214b852415f6e4f9f3-1024x572.png 1024w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/861bc0aa57278e214b852415f6e4f9f3-300x168.png 300w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/861bc0aa57278e214b852415f6e4f9f3-768x429.png 768w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/861bc0aa57278e214b852415f6e4f9f3-728x407.png 728w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/><\/p>\n<p class=\"p1\">Here is the chart after few hours later. I was actually watching the chart whole time but when I was looking at the price action earlier<span class=\"s1\">,<\/span> I was about to cut loss if the price breaks this support line downwards. But eventually it was supported second time<span class=\"s1\">,<\/span> slightly like lower high here<span class=\"s1\">,<\/span> and the price keeps going up and I have like 30 pips of profit now<span class=\"s1\">,<\/span><span class=\"Apple-converted-space\">\u00a0 <\/span>so let me move the stop loss to slightly above my position so that it will be either win or break even game<span class=\"s1\">,<\/span> because I will be going to bed anytime soon<span class=\"s1\">,<\/span> so this way I will avoid the loss.<\/p>\n<p class=\"p1\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-817\" src=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/53ee07ad13c79447cb9bb0e3e07d2588-1024x574.png\" alt=\"\" width=\"728\" height=\"408\" srcset=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/53ee07ad13c79447cb9bb0e3e07d2588-1024x574.png 1024w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/53ee07ad13c79447cb9bb0e3e07d2588-300x168.png 300w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/53ee07ad13c79447cb9bb0e3e07d2588-768x430.png 768w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/53ee07ad13c79447cb9bb0e3e07d2588-728x408.png 728w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/><\/p>\n<p class=\"p1\">Alright<span class=\"s1\">,<\/span> so<span class=\"s1\">,<\/span> what I see is that first of all<span class=\"s1\">,<\/span> if you look at a Daily chart<span class=\"s1\">,<\/span> the price still looks to be supported on this line for now<span class=\"s1\">,<\/span> but it might be tested couple of times in the future like this<span class=\"s1\">,<\/span> and eventually goes up or breaks downwards. And if it goes down<span class=\"s1\">,<\/span> then I will see if the price will be supported by the Ichimoku cloud and goes up or not. Or the price might break it downwards<span class=\"s1\">,<\/span> you know<span class=\"s1\">,<\/span> where the cloud gets thinner here. But as long as the the bullish momentum extends<span class=\"s1\">,<\/span> I will just keep chasing with profit.<\/p>\n<p class=\"p1\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-818\" src=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/b002fa5044d167fa4ba07262342a8011-1024x574.png\" alt=\"\" width=\"728\" height=\"408\" srcset=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/b002fa5044d167fa4ba07262342a8011-1024x574.png 1024w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/b002fa5044d167fa4ba07262342a8011-300x168.png 300w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/b002fa5044d167fa4ba07262342a8011-768x430.png 768w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/b002fa5044d167fa4ba07262342a8011-728x408.png 728w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/><\/p>\n<p class=\"p1\">Then<span class=\"s1\">,<\/span> what can you read from H1 chat<span class=\"s1\">?<\/span> It shows the price has been supported twice on the Daily support and it went beyond the recent highest. So like I said<span class=\"s1\">,<\/span> the price might be coming back down and test the second support line couple of more times and eventually go up<span class=\"s1\">,<\/span> or breaking it downwards. However<span class=\"s1\">,<\/span> if the price breaks the cloud upwards<span class=\"s1\">,<\/span> then there might be a chance that the price keeps going up<span class=\"s1\">,<\/span> you know<span class=\"s1\">,<\/span> supported by 20MA.<\/p>\n<p class=\"p1\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-819\" src=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/9a39653998e35ba5c9ea76d87ed6dcdf-1024x572.png\" alt=\"\" width=\"728\" height=\"407\" srcset=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/9a39653998e35ba5c9ea76d87ed6dcdf-1024x572.png 1024w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/9a39653998e35ba5c9ea76d87ed6dcdf-300x168.png 300w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/9a39653998e35ba5c9ea76d87ed6dcdf-768x429.png 768w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/9a39653998e35ba5c9ea76d87ed6dcdf-728x407.png 728w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/><\/p>\n<p class=\"p1\">Alright<span class=\"s1\">,<\/span> and what do yo see in M15 chart<span class=\"s1\">?<\/span><span class=\"Apple-converted-space\">\u00a0 <\/span>It looks that the price already broke Ichimoku cloud upwards and if the price is supported on this level of the recent highest<span class=\"s1\">,<\/span> you know<span class=\"s1\">,<\/span> if the resistance line turns into support line<span class=\"s1\">,<\/span> there will be more chance that the price will keep going up.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-820\" src=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/5d45af81111f874b29d1b3c00bd47e87-1024x572.png\" alt=\"\" width=\"728\" height=\"407\" srcset=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/5d45af81111f874b29d1b3c00bd47e87-1024x572.png 1024w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/5d45af81111f874b29d1b3c00bd47e87-300x168.png 300w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/5d45af81111f874b29d1b3c00bd47e87-768x429.png 768w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/5d45af81111f874b29d1b3c00bd47e87-728x407.png 728w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/><\/p>\n<p class=\"p1\">But at time same time<span class=\"s1\">,<\/span> the price might break this line downwards and it keeps going down to test this lowest support line again. In that case<span class=\"s1\">,<\/span> I will just lose the position with break even<span class=\"s1\">,<\/span> then I will just look for another chance to buy again with high winning probability.<\/p>\n<h2 class=\"p1\">Have &#8220;Conditional Branch Thinking&#8221; to create a trade scenario<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-821\" src=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/ab47f1cb07d096ff05537522e770eae9-1024x573.png\" alt=\"\" width=\"728\" height=\"407\" srcset=\"https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/ab47f1cb07d096ff05537522e770eae9-1024x573.png 1024w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/ab47f1cb07d096ff05537522e770eae9-300x168.png 300w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/ab47f1cb07d096ff05537522e770eae9-768x430.png 768w, https:\/\/forex-kei.com\/wp-content\/uploads\/2019\/08\/ab47f1cb07d096ff05537522e770eae9-728x407.png 728w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/><\/p>\n<p class=\"p1\">So today I tried to explain the chart with both up and down scenario. And this thinking pattern is very important in trading because if you are biased just in 1 direction<span class=\"s1\">,<\/span> or only in the direction of your holding position<span class=\"s1\">,<\/span> then you cannot see the other side of the coin<span class=\"s1\">,<\/span> and when the other side actually turned out<span class=\"s1\">,<\/span> you might get panicked or regret<span class=\"s1\">,<\/span> or blame yourself or others whoever gave you that signal.<\/p>\n<p class=\"p1\">So no matter what indicators you use<span class=\"s1\">,<\/span> always make sure to see the other side of the coin<span class=\"s1\">,<\/span> and get ready for it. Like I said in the beginning<span class=\"s1\">,<\/span> conditional branch thinking is the key to success in trading like myself in a long run.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is my analysis on EURGBP because first of all, I see it\u2019s a good chance to buy and I will tell you the reason from my own analysis, but today, I wanted to talk about how to see a chart without any bias so that you can always be flexible whether the price goes up or down, because no one can predict the movement in the future. But good traders always make profit over time because they have plans, and those plans are based on \u201cif\u201d questions, like \u201cif the price goes up, then I will do this\u201d or \u201cIf the price goes down, I will do that.\u201d things [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":805,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_expiration-date-status":"saved","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"categories":[37,38,1],"tags":[3,9,11,22,29,54,85],"class_list":["post-799","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mental-techniques","category-chart-reading-techniques","category-youtube-videos","tag-forex","tag-livetrading","tag-pickup","tag-constantwinningtrader","tag-trade","tag-psychology","tag-eurgbp"],"_links":{"self":[{"href":"https:\/\/forex-kei.com\/index.php?rest_route=\/wp\/v2\/posts\/799","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forex-kei.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forex-kei.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forex-kei.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forex-kei.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=799"}],"version-history":[{"count":3,"href":"https:\/\/forex-kei.com\/index.php?rest_route=\/wp\/v2\/posts\/799\/revisions"}],"predecessor-version":[{"id":823,"href":"https:\/\/forex-kei.com\/index.php?rest_route=\/wp\/v2\/posts\/799\/revisions\/823"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forex-kei.com\/index.php?rest_route=\/wp\/v2\/media\/805"}],"wp:attachment":[{"href":"https:\/\/forex-kei.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forex-kei.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forex-kei.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}