Hey akuma. Are you live trading? And what broker do you use?
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Akuma99 Squeezer 20 replies
TRADE TYPE: TRENDING
May 08 | LONG | NZD/USD @ 0.6408 | SL: 0.6389 | TP: 0.6447
http://img223.imageshack.us/img223/3241/trade87sv.gif
A nice zero bounce on the CCI in a blue zone, I waited to see it above the 50SMA this time, as was worried it would prove to be resistance.
Trend
Still in a medium up-trend, weakening very slightly as no expansion in the rainbow seen, but enough there to stay looking for longs.
Momentum
Weakening bearish momentum on the 1H, while the 4H sits neutral, and the dailies still has some bullish momentum, although weakening.
Trigger
Zero line bounce on the 50CCI got me into this trade after a close was seen above the 50SMA.
Resistance/Support
Cleared the 50SMA, so looking at the upper bollinger band as resistance for now where Ill close half my position.
Stoploss/Exit Strategy
Stop loss is below the round number support and 78.6 retracement of recent upswing, while I'll target the top BB for 1 lot, and move the stop to breakeven on the second going for 161.8 extension.
Pretty standard set-up for my system, we will see if there is enough juice left to get there. Another sign that momentum is falling is the triangle formation forming from the last few peaks and valleys. That may be another trade to look for in coming days.
Happy trading!
QuoteDislikedTRADE TYPE: TRENDING
May 08 | LONG | NZD/USD @ 0.6408 | SL: 0.6389 | TP: 0.6447
http://img336.imageshack.us/img336/8568/trade8b6ns.gif
Quoting Akuma99DislikedNo not at all, you can use any of the bollinger squeeze versions on any timeframe, I just like trading off a 1H chart, I know some use it as low as 15M charts.Ignored
TRADE TYPE: RANGING
May 09 | SHORT | GBP/JPY @ 207.59 | SL: 208.11 | TP: 206.48
http://img204.imageshack.us/img204/3876/trade111sv.gif
I woke up this morning to one of my favourits set-ups on the GBP/JPY. We are right at the beginning of a blue zone signal, where normally I would wait for a CCI trigger, however this is an exception. You can see price has blow through the rainbow over the last couple of days, causing it to "fold over", it made it through the 200SMA also, but is now returning to it to give it another test from below.
I like this trade because, we are now either in ranging conditions, or the start of a downtrend, either way, we are in a good position to go short. If it is ranging then we are up near the upper Bollinger Band with a signal, you can see I have a limit order at the upper band in case it gets that far (I dont think it will), and I have opened a short position now at the 200SMA as it should prove too tough to get through.
My target is for the 161.8 extension, but I will watch things closely at the lower Bollinger band if it gets there of course.
Trend
Rainbow has folded over, indicating either upcoming ranging conditions, or perhaps the start of a downtrend. Either way, price at the upper band is a sign to go short.
Momentum
Plenty of 4H bearish momentum left, and the daily bullish momentum is fading fast as would be expected with the strong move shown over the last couple of days. 1H momentum remains neutral as is normal for blue zone trades.
Trigger
I have traded this without a CCI trigger, relying on the strength of the upper band with 200SMA. I suspect if the trade goes my way, we will see a zero line bounce shortly.
Resistance/Support
Its all about the 200SMA in terms of resistance, that coupled with the Bollinger band and a folded rainbow should see another move up capped strongly.
Stoploss/Exit Strategy
No real clear place for the stop loss in terms of previous resistance, or even 78.6 fibonacci thanks to the straight line drop over the last few days. Have placed the stop above the upper bollinger band/200SMA, as that is what I am counting on to hold. My target is the the 161.8 extension of the small corrective upswing into this trade, but Ill assess things at the bottom BB.
Happy trading!
GOLD
http://img155.imageshack.us/img155/5817/gold1fl.gif
QQQ
http://img297.imageshack.us/img297/263/qqq9wl.gif
SP500
http://img248.imageshack.us/img248/3982/sp5008rd.gif
QuoteDislikedTRADE TYPE: RANGING
May 09 | SHORT | GBP/JPY @ 207.59 | SL: 208.11 | TP: 206.48
http://img414.imageshack.us/img414/7316/trade11b7nq.gif
TRADE RESULT: +49