DislikedHi guys, I've got inspired after a discussion with my buddy sharemaster2. Long time I never tried our own trading basket pairs especially C14 & C5. Also very long time I never use T101 trading rule. yes...it is about ANCHOR PAIR. I use Anchor pair position as a signal of price direction and entry....also looking for possible exit. Setup offline chart of C14 and C5 and make a tech analysis at higher TF. Then make an entry at Weekly and H1 TF. 10 min before NY session, I already win nearly 100pips but I didn't close the trade. I continue trading to...Ignored
Thanks for mentioning me in your post. Well, with the analysis you have done on your C14 pair and the Break of the Trend Line. It may seem good on the short tearm but C14 has a major flaw which is you combine all pairs in one basket and as you can see, some pairs will be going negetive and some others positive in profit. I see this as a no no for me as it reduces your profit and not a good way to trade.
I preffer to trade selected pairs rather then standard pairs but if it works for you then you are free to go for it.
The analysis on single pairs and using trend lines is better but takes time to go through the pairs. Mark the lines on the weekly charts trade the touch and break out on the hourly TF taking note of News, and strong movement of the currencies. Remember what sam says to watch the close of NY on the pairs you want to trade and see where they are.
The single pairs you traded the other day and made about 900 pips is for me a better way to go even though you mentioned it wore you out as there was alot of analysis that went in to it. I think it will be wiser to stick to that systerm and slowly perfect it. As you get better and better at it, it should become easy with time.
I will still go with the option of Watching the Majors what they do and Trade thier Cross Pairs. There is merit in trading that way.
http://www.netdania.com use this site in the background for decision makeing and open up the pairs with higher % increase and see where to plot your trend lines on those pairs and be ready to trade. Best to do this before London open.
Just a thought.
More Green pips to you.
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