DislikedDoes this trade qualify if it ends up closing at the end of the day outside of the blue band? I get a little confused on how far it must come from inside the channel. It looks like a decent set-up.Ignored
QuoteDislikedKevin,I was wondering,...would you suggest trading on Non-Farm Payrolls Friday or Fed Rates Day,etc? The reason why I'm asking is that sometimes on importanat news ,there's heavy volatility in the markets and it's easy to get whipsawed. Though today's news wasn't probably that important, it could be the reason for some VERY long candles on our charts today.
I know that BB strategies often rely on this 'breakout volatility' but sometimes the whipsaws are too rich for my blood!
I'd really appreciate your thoughts on this...
Doji Star,
Thanks for sharing all the info about Philip's method! From what I can see, there does not appear much difference in entry! I will look more into this when I have some spare time.
News has never been a concern for me in my trades. If I trade during the news and I lose; well, I just lost. I just chalk it and move on. Always remember that there's the possibility that you are on the right side of the market during news, which case you could bank big. In summary, I've never worried about news, and do not intend to in the near future.
Thanks,
Kevin
Alright, pairs I am seeing to trade:
Long CHF/JPY (Blue signal)
Long EUR/AUD (Blue signal)
Long EUR/JPY (Blue signal)
Possibly Long EUR/USD (more details on this one later because it is based off of an idea I've had)
Possibly Short USD/CHF (see above)
These are all tentative. As Oanda closes its daily candles at around 10PM CST, I will place my trades much later based on what I see then.
And here are my charts for these trades:
Attached Images