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sorry was donchian channel
ok
Lose and make all possible mistakes in demo and rain in pips in live acct
9jatrader All Time Profit: $1,609
  • Post #63
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  • Edited Dec 14, 2016 4:03am Dec 13, 2016 5:06pm | Edited Dec 14, 2016 4:03am
Strong monthly support is obstructing the EURUSD short. It was also based on the same strategy. I have shared the chart. It continues to retrace from the support. My position still open. Sooner than later am sure the support will be broken. GBPNZD is forming bollinger band squeeze. I hope this makes great setup finally with the strategy.
Lose and make all possible mistakes in demo and rain in pips in live acct
9jatrader All Time Profit: $1,609
Hi there 9jatrader

are you going to put new trades up as they happen ?

cheers Paul
Quoting paul72
Hi there 9jatrader are you going to put new trades up as they happen ? cheers Paul
Yes Paul. Sorry for late reply. I was on medication yesterday and could not wait till market close before I slept. Each time I see new trades that meet the strategy I will get in. I just want have so many positions base on the strategy so that I can confirm the good and bad side of the strategy. The only trade I entered base on another strategy - AUDNZD long is not performing well. It shows that other strategy-based positions other than AUDNZD is far better.
Lose and make all possible mistakes in demo and rain in pips in live acct
9jatrader All Time Profit: $1,609
Pepperstone closed my demo account a month after I downloaded the platform. No problem. I still have other platforms. They say I should fund my live account and then they will set my demo on permanent setting. I ask myself if they want traders to learn with live account and find their strategy.
Lose and make all possible mistakes in demo and rain in pips in live acct
9jatrader All Time Profit: $1,609
Quoting 9jatrader
Strong monthly support is obstructing the EURUSD short. It was also based on the same strategy. I have shared the chart. It continues to retrace from the support. My position still open. Sooner than later am sure the support will be broken. GBPNZD is forming bollinger band squeeze. I hope this makes great setup finally with the strategy.
EURUSD is gradually breaking the monthly support. What gives me the confidence that it will finally break it is the fact that USDCHF is closing above upper band on daily. USDCHF is strongly (negatively) correlated with EURUSD. Gold has already made a downward turn. It's negatively correlated with USD.
Lose and make all possible mistakes in demo and rain in pips in live acct
9jatrader All Time Profit: $1,609
One thing about this is enough patience, just like any other strategies many other traders use. When price is sideways we cannot do anything than to wait. Also for bullish trade if the weekly is closing/closed above middle band and the daily refused to close above upper band, am scare to get in. I often stay away and wait. This is because upper band rejection can bring the price down. If the following weekly candle continue to trade above the weekly middle band and the daily finally closed above upper band, then I will get in.
Lose and make all possible mistakes in demo and rain in pips in live acct
9jatrader All Time Profit: $1,609
I hope to continue to share charts if there is any game changer. I have shared almost all the positions am in. They're still open.
Lose and make all possible mistakes in demo and rain in pips in live acct
9jatrader All Time Profit: $1,609
Using correlation also add more confidence to may entry. I think it's time to talk about it now. About my NZDJPY long position: NZDCHF was already strongly bullish while the NZDJPY was moving sideways. Then I expected it ( NZDJPY ) also to be bullish because of the correlation. CHFJPY long: EURJPY was already bullish while the NZDCHF was moving sideways and I expected CHFJPY to be bullish also because of the correlation of EUR and CHF.
Lose and make all possible mistakes in demo and rain in pips in live acct
9jatrader All Time Profit: $1,609
Fed voted to hike interest rates. Good for EURUSD bears, USDCHF bulls, AUDUSD bears.
Lose and make all possible mistakes in demo and rain in pips in live acct
9jatrader All Time Profit: $1,609
When our positions we enter keeps going uninterrupted there is problem ahead of us - indiscipline. Are we able to trust our system when price retraces before continuation? Is a big question.
Lose and make all possible mistakes in demo and rain in pips in live acct
9jatrader All Time Profit: $1,609
My great mentor would say that when price moves in sideways and finally closes below lower band/touch lower band it shows that downward wants to be continued. That's what I see in EURUSD, daily. Opposite is the case with bullish movement.
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Lose and make all possible mistakes in demo and rain in pips in live acct
9jatrader All Time Profit: $1,609
hi 9ja

thanks for these graphs really lets us see whats happening.

going to start trading this myself.

Cheers Paul
Quoting paul72
hi 9ja thanks for these graphs really lets us see whats happening. going to start trading this myself. Cheers Paul
I wish you good luck.
Lose and make all possible mistakes in demo and rain in pips in live acct
9jatrader All Time Profit: $1,609
Yesterday I stated that Pepperstone closed my demo account after a month of using it's platform. And so my AUDUSD short and GBPCAD long are in that platform. So I placed the AUDUSD short again in another platform since the setup is still not too late to get in. GBPCAD long would only be on my journal to see the end. They're all based on the same strategy.
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Lose and make all possible mistakes in demo and rain in pips in live acct
9jatrader All Time Profit: $1,609
The interesting thing now is that the bearish candle closing below lower band. Same with AUDCAD short. I believe I have shared AUDCAD chart here.
Lose and make all possible mistakes in demo and rain in pips in live acct
9jatrader All Time Profit: $1,609
hi, would aud usd be a setup now based on monthly and weekly charts to go short and if so could you please post the charts and mark where the entries are. thanks Racsan
Hi guys, I was just going thru charts looking for setups and found GB NZD. The weekly just closed above middle band. The daily has crossed the top band. So my take according to my understanding of the rules is this is a good setup. Please advise if Im seeing this Right. racsan
Quoting racsan
Hi guys, I was just going thru charts looking for setups and found GB NZD. The weekly just closed above middle band. The daily has crossed the top band. So my take according to my understanding of the rules is this is a good setup. Please advise if Im seeing this Right. racsan
I saw it also and was going to make comment on it. Great thanks for your attention. According to the strategy, it's a setup. But be careful of the uncertainty surrounding the GBP pairs because of the Brexit referendum. If you're taking it take smallest lot size, 0.01 and put your SL little below the low price of the weekly bullish candle. I have observed that the weekly candle stop loss SL is difficult to trigger before it continues again. If you use the daily candle it may get triggered and then continue in your direction again. The fact is that many of us are over cautious of SL instead of setup.
Lose and make all possible mistakes in demo and rain in pips in live acct
9jatrader All Time Profit: $1,609
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