USDJPY Live 1 Hour Forex Trading | Forex
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Another live trading video. In this video, I take a long trade on USDJPY using price action analysis on the 1 hour time frame. The trade was profitable but the take profit was not reached. To justify a trade, a look for a number of reasons to enter the trade. For this long position, I used a trend support line, a due bullish retracement, higher highs and higher lows, bullish moving averages, and a bullish setup to justify the trade. Price Action Trading learn more at www.love-the-pips.com Forex and Equity Index Trading Signals www.love-the-pips.com
Comments
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I like your style, you have trade ideas but always open to scrapping the idea when the chart tells you to, which is crucial to trading successfully. I hate when people say trading strategy wins and losses are randomly distributed
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You have a very good knowledge of the market. You keep it simple, abandon worthless indicators and use your knowledge of price action to your advantage. Also, holding positions this long does require a high level of confidence in your abilities and cannot be learned without experience. Waiting for an hourly candle to close before even considering to act is professional. Personally, I don't like to leave positions open overnight. Mainly because it's too stressful and it's not worth it for me. I feel like I don't gain enough benefits for the amount of stress it causes. Over time I found that my trading has to be over at a certain time of the day, otherwise it can be very exhausting and starts to feel like a chore. I guess you are confident enough not to keep checking your trade every hour past 4-5 in the afternoon. I understand that it won't be able to do too much harm in the Asian and Aussie session but still. Don't know how you can cope. :D
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why did you place the target price to 107.60? Isn't that way above the day's high?
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How many shares did you place at the beginning of this trade?
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It's frist time to see your channel, I've learned alot while watching you trading. thank you
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Dear Sam, thanks for your insightful video! You mentioned you use the 1 hour time frame charts..so does this mean one has to continuously look and monitor the chart on the pc screen to ensure that the take profit line is adjusted so that we still get a profitable trade? I was told to just enter the price, put my stop losses and take profit and 'forget it'...but somehow I don't feel right. But after watching this video it seems that I have to keep monitoring so that if it doesnt hold, at least I can lower my take profit line and get out before I lose the trade.
Grateful for your advice. Sorry, I am very new to forex but am eager to learn. Thanks! -
Thanx Sam , been watching yo vids for a yr now & they help me a lot. God bless u man 🙏
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I learn so much from watching your videos! Thank you!
A quick queestion, what parameters do you have for your moving averages? And what's your trading platform?
I'm currently testing MetaTrader 4, but yours seems so much smoother and easier to use. -
HI Samuel, what software are you using/recommend for new or any forex trader? Thank you
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great sam...good view of the market....
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Love watching your videos. Keep up the good work! :)