I'm too conservative for most traders, as I wouldnt consider entering until it broke through support at 7050 or resistance near 7920.
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Quoting bluemeasureDislikedHi 777,
I see you're using the bollinger squeeze on your weekly charts. Are you using the default settings? I'm using this indicator mostly on 4H charts and found it to be quite a good indicator although I had to tweak the bollinger and keltner period settings somewhat.
Thanks,
BlueMeasureIgnored
Quoting fx-trader777DislikedYes with MACD and Stoch I use it like John Carter,
This is one of my systems which I am tradingIgnored
Quoting fx-trader777DislikedI am short from 7685 (hourly pin bar)Ignored
Quoting SouthernFriedDislikedIt's between 50 and 62% retracement right now. It Was higher, and I was contemplating a short move... then a lotta people took profits during the news item, sorta messing with my strategy. Can't explain the spike any other way...the news was exactly as expected. I wasn't in...the news scares me. Still, there are a lot of expected moves done, by hiding them during the news...have to work with that some.
Still, it looks in good position for a down move. Always have trouble figuring out where to enter on a retracement.
As soon as I enter short on the retracement...it'll shoot right upIgnored
Quoting SouthernFriedDislikedAhh...good idea James.
It looks like that just might be happening now. With that news spike, it just might have created a daily Pin. It's a pretty good looking Pin right now. And if it closes where it's at...we'll have a Daily Pin. Right around 50% retracement of the weekly Pin.
Irritates me a litte, cuz I had my finger on the Sell buttom when it was close to 78% retracement, but the news scared me off. Then, of course, that's where it decided to drop. Hope my neighbors weren't home.
See how this works out in the next day or so.Ignored
Quoting SouthernFriedDislikedAhh...good idea James.
It looks like that just might be happening now. With that news spike, it just might have created a daily Pin. It's a pretty good looking Pin right now. And if it closes where it's at...we'll have a Daily Pin. Right around 50% retracement of the weekly Pin.
Irritates me a litte, cuz I had my finger on the Sell buttom when it was close to 78% retracement, but the news scared me off. Then, of course, that's where it decided to drop. Hope my neighbors weren't home.
See how this works out in the next day or so.Ignored