DislikedHere is what I am talking about look at the pullback....way too many bars...
--NMIgnored
--NM
Trading correlation pairs by using the other pairs 767 replies
28 Pairs Trading Panel (Multi-pairs) 0 replies
Export All pairs or selected pairs to .csv with script 3 replies
Daily Bar Analysis - All Pairs/All Welcome 15 replies
Trend Trading All Currency Pairs 3 replies
DislikedHere is what I am talking about look at the pullback....way too many bars...
--NMIgnored
DislikedGood Job!! The risk free trades are the ones we are looking for, bank some pips move to BE and your home free...then let the trend run its magic...
--NMIgnored
DislikedDear NM,
I am convinced that the system will survive over the market’s up and down.
But I encounter the following condition very often.
Looking for BPC, but the “C” goes only a very little of time and range. Therefore, S/L is triggered very often and that really eat up my profit.
How can I overcome this problem?
Thanks
Armadise
example: 2010,9Mar, AUDUSD
Ignored
DislikedI can only agree with nightmoves, look at your pullbacks. Also another thing you wanna look at is to be right away in profit from entry. The bigger the momentum the better. If it goes back into a loss more often than not it will hit your stop loss. You wanna be in the green almost instantly. If you are unsure and momentum is not so high, then just close the trade. Always good to be out of a crappy trade.
cheersIgnored
DislikedThe AUDUSD is also looking quite promising at the moment.....
--NMIgnored
DislikedI think we are still not out of danger zone. Only tested the highs. Just for your informationIgnored
DislikedI think we are still not out of danger zone. Only tested the highs. Just for your informationIgnored
DislikedHi Custos,
Can you please explain what you mean 'still not out of danger'?
Do you mean that you are waiting for the price to pass the recent high ie.. the breakout point before entering the long trade (ie.. the continuation)?
Many thanks
SimonIgnored
DislikedI was wondering if someone could help me with my analysis on this trade.
I looked at the daily chart and decided that there was a short opportunity based on:
1. Trend is down.
2. Retrace back to 61.8 with confluence at round number 1.4700.
Price has gone down today as expected and broken through the retrace (see H4 chart (top image)).
Questions are:
1. Is my analysis ok above?
2. Should I now wait for pullback and then enter on continuation?
3. What would reasonable target be?
4. I presume stop is just above pullback - is this correct?...Ignored
Disliked1. yes, analysis is okay. I would add that we bounce off a channel as seen in my h4 chart.
Yes, daily is setup, h4 is trigger.
But I would not draw the retracement trendline as you did. take the lows, not highs with lows. The red line is how I would have drawn it.
2. Well, we are already pulling back, so I would wait for a continuation.
3. Standard are two targets: 1. last swing low. 2. 80% extension of the last swing.
4. and yes stop is above pullback.
So, now I show you where I entered. It's a slightly different methodology, but anyways, here...Ignored
DislikedMany thanks Custos for taking the time to show me this and for your helpful comments
I am quite pleased that my analysis was ok - I know it was not quite correct but gives me hope!Ignored
DislikedI am definiately watching closely the AUDJPY, as i think there are some elements coming together.
Firstly, there was an uptrend on the daily chart, and right now the pair is consolidating in the past 11 days, which can be a rest for the bulls for a new ride up.
Price today retested the upper level of the range at the 87.5 level, where price reacted heavily off it, as it can be seen on the touching candle. After that price dropped and touched the uptrend line on the H1 chart. Price havent yet closed below the 87.00 RN on the H4 chart, so it...Ignored
DislikedI am looking at the same thing, once the range breaks and we get the BPC then I will be long on that pair too. So you are seeing things the same as I am anyway and hopefully we are right...
--NMIgnored