I've been trading two pairs that are inversely correlated during news events. I simply buy the breakout of the most immediate level found on the 1 minute chart for both pairs. Each have a 3 pip stop and a 9 pip take profit. This risk/reward set up ...

Would you be willing to demonstrate on your next set up?

You do not enter on 4H if you see a price action set up on the weekly? How do you place your stops?

Richadi36, do you make entry on the 1H or 4H once you see the price action on the daily or weekly that you are looking for?

I guess I don't understand what you mean by the extreme bottom line. If you mean where I should take my profits, it would be the next level on the weekly or daily time frame. My use for inverse correlation is so that I can sell only. This cuts my ...

I've been thinking that being just a seller or just a buyer would be most beneficial trading forex mainly because of correlation. Specifically, inverse correlation. Once on pair has made it's move down and bottoms out, it means another pair is ...

If you trade buy set ups only, you become less risky.

Trading 2 directions is what I'm trying to avoid. I've got my trading strategy down. I'm exploring the possibility of limiting my risk by only being a seller or only being a buyer.

I'm not familiar with conversion theory. I'm a purely technical trader.

I've been juggling the idea of only trading one side of the market. Be a seller or a buyer only. This method is executed predominantly in equity and futures markets where most traders are buyers only - just by the nature of these markets. I think ...

Every FX pair with decent spreads from Oanda using their FXTrade platform. AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURNZD, EURUSD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, GBPUSD, ...

If youre struggling to find something that works, I suggest the "Swing Traders Welcome" forum. It changed my life.

The monthly is enough to keep me interested in USDSGD. The daily may be posting a double top, as well. I placed a couple sell limit orders yesterday on the levels formed on the hourly chart. 1/4% each position. Maybe I like the punishment?

Yeah. I took 1/2% loss on the 2 trades I had in. I'm still looking for shorts though.

Pin bar on USDSGD weekly at a resistance level that was previously a support level.

I'm just seeing this on GBPNZD. It appears that the monthly candle reached a resistance level. Daily chart shows a pin bar with a significant move down, plus a pull back to the 38 and 50.

Richadi This is my favorite thread next to James16's. Thank you for your analysis. It has given me a world of confidence in this style of trading. I'm looking forward to more.

Im new to the thread. USDSGD making a bullish move off of 365 MA, weekly tf.