Support and Resistance, Swing / Long term trading

Stopped out at BE at that Dailt retest. Thats unfortunate since it now shows bullish sign:



I will wait for a weekly confirmation before hoping back in.

I’m not a big indicator fan. I use a modified Pinbar and Engulfing indicator that I created to help me see them better whenever I want to back test and I made sure to include my rules of the best Pinbars and Engulfs.

I may use fibs from time to time and the ATR. I created my own ATR indicator that I modified to not only get the average daily range, but also the weekly and monthly ones so I know whenever price goes “outside of its norm/mean”.

One indicator that always fascinated me is the Bollinger bands. Approximately 90% of price action occurs within the 2 bands with a standard deviation of 2. So if you were to put it at 2.5, you should get 95% of all PA inside the bands. Now imagine that price goes outside of the bands AND outside of his ADR or AWR and reaches a support level. I don’t know about you but I would be inclined to buy there.

I’m not yet fully convinced but this is something I am backtesting lately. I combined my ATR indicator with bollinger bands to see how price reacts when it moves outside of its norm.

I want this thread to remain PA oriented and I will always consider PA before anything else, but these “indicators” aren’t really “if X do this, then I buy”. It’s more about knowing when prices isn’t acting the way it should or the way it does usually.

What do you guys think?

This is how both of them looks:

The arrows indicate when price goes outside of the bands AND outside of the ATR. The colour of the arrow represent which ATR price "broke". Gray is for Daily, Yellow for Weekly, Red for Monthly

Im keeping my pending in on AUDUSD even though we went very close to our entry point and moved away from the level.

However, I will pull out my order if we go back up close to our level and stall. What I would like to see if a move up without pulling back prior to reach my level.

Just went short on GN



Hoping for a trend continuation on that BR

Experimenting with moving my SL to BE after +30 pips on volatile pair such as GN, so stop moved to SL right now

Out BE. Let’s see if Daily or Weekly gives us a signal to re-enter

I will add to my winner right here, Daily Bearish Engulf, running an 80 pips stop. Pending order. Initial position still running with a trailing stop

No signal on GN but all correlated pairs are retracing right now (GA, EA, EN)

I have a pending order sell on GA and I will look to re-enter GN if I get a signal. On the sideline for now

I will be looking to add if we break these highs and close above on the Daily

We are in and in the red lol, for now*

Pendings on GA

As mentioned earlier, Daily closed above the resistance so I added to CADJPY. Since I didnt have a structure based SL, I used the Daily ATR which was 101 pips as a proxy for my stop.

Stop moved to BE

I will take my first partials where my TP is in the pictures below. Im NOT closing my position. Just taking my first partials

Thats unfortunate. GA tapped in our entry, but didnt trigger us in (you see the transparency here, not many traders would admit that and would just say they are in, but im not). #spreads.



Canceling pending because I would have moved my Stop to BE by now. I will look to re-entry if price comes back to the zone and gives me a confirmation

Out @ BE on my added position

Pending order GBPCHF short



Break&retest of that KL



Stop 10 pips above that little cluster of candles to the left on the Daily chart

Active pendings:

USDCAD long



GA long



GBPCHF short

Active trades:

EURCHF short, 2 positions in.



CADJPY long

And this, ladies and gentlemen, is why you dont mess with your SL when in place. You never know whats going to happen next.



Now, I could exit that trade right this moment without a loss when it was showing me one and if the pair wasnt pushing this hard to the downside, thats exactly what I would do because, again, you never know. But this being a CHF pair and the CHF being the strongest most stable currency out there, Im keeping that trade