breakout with a bullish engulfing bar on german beiersdorf on weekly.
edit: i know that there is one more day to trade. :-)
edit: i know that there is one more day to trade. :-)
meine augen sind die sterne
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DislikedThe 50% retrace of any move is a very strong point of resistance/support. It trumps plenty of other signals including as we've seen this week weekly pin barsIgnored
DislikedI decided to allocate 2% to the kiwi, the first 1% is underwater like yours, the second got stopped out overnight, as I was trying to keep the risk low and short at a better price with a smaller SL if the opportunity came up.
I'd like to short it again, but I will wait and see if the first one gets into profit or goes the way of the dodo.Ignored
Dislikedbreakout with a bullish engulfing bar on german beiersdorf on weekly.
edit: i know that there is one more day to trade. :-)Ignored
Dislikedthe rocket has started .....
+ 2,44% , last 48,37 euro.
moved stopp to break-even + 10 cent.
Ignored
DislikedNice trade mate. Are you trading these on the NY exchange or on the DAX?
Also, are you trading with CFDs or simply trading stocks with a normal broker?
I only have access to a few US bluechips via FxPro atm but am looking for alternatives to give me a wider range of tradable instruments. IG markets appear ok on first glance but interested to hear of other options.
Cheers.Ignored
Dislikedi trade the stock on the german xetra (electronic exchange).
you can try interactive brokers. they have a wide range of tradeable stocks, futures, even forex and so on.
i think clockword is using them, too.Ignored
DislikedWell when i look at charts i look at moves. Waveforms. Up moves and down moves with usually pins at extremes.
Each move has significant support/resistance at its 50% retrace. So significant that some traders see the market as bull/bear depending on whether it can penetrate the 50%
And Nzdusd was a perfect example.
And upmove of 11 days with 2 days retrace to 50% giving a doji which was an entry long. This was inspite of the weekly bear pin
The weekly chart here is busy but i dont trade from it. I would trade from the daily which has much less...Ignored
DislikedNice trade mate. Are you trading these on the NY exchange or on the DAX?
Also, are you trading with CFDs or simply trading stocks with a normal broker?
I only have access to a few US bluechips via FxPro atm but am looking for alternatives to give me a wider range of tradable instruments. IG markets appear ok on first glance but interested to hear of other options.
Cheers.Ignored
Dislikedjicjoc,
It makes perfect sense.
I was short, but exited with a small (+39) profit before reversing. I exited the long for + 119 because of strong SR at 0.7300. I exited early because I was not convinced that it had the momentum to make it to 0.7300.
I don't use the fibs the way that you do, but I have added the 21 EMA to my arsenal of indicators. It works in much the same way as your 50% fib, acting as SR during the impulse and correction waves.
I have attached a chart with some notes.
JIgnored
DislikedVery Nice set up on GBP/CHF yesterday. Pinbar right at S/R zone. At the bottom of a range-bound market.
Thanks Chris:
AttachmentIgnored
Dislikedthe rocket has started .....
+ 2,44% , last 48,37 euro.
moved stopp to break-even + 10 cent.
Ignored
DislikedPick a number between 3 and 400, put that MA on a chart and I bet you will find that it acts as s/r, whatever the number. The problem with MA's for s/r is that they aren't as reliable as they first appear, you can't really use the information. I'd be wary of indicator creep, just one more as a "filter".
Not knocking what you're doing, just expressing my opinion, if it works for you then why not use it?Ignored
DislikedTrue, however it is more reliable if you use an MA (20/21 EMA/SMA) that is widely used by professional traders!Ignored
DislikedVery Nice set up on GBP/CHF yesterday. Pinbar right at S/R zone. At the bottom of a range-bound market.
Thanks Chris:
AttachmentIgnored
DislikedOr 50, or 200, or even 100. How about the 365?
And thus is the biggest issue with MA's.....Ignored