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Simple and profitable trading style

  • #1,421
  • Aug 30, 2017 9:25am Aug 30, 2017 9:25am
We could see what Pinbar/Dragonfly is doing with USDCHF. Am scared of EURUSD long now. GBPCHF and USDCHF should have informed to get out. I enter not too long
Make all mistakes in demo and rain in pips in live account
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  • #1,422
  • Aug 30, 2017 9:59am Aug 30, 2017 9:59am
Hi 9j,
I very much like this simple strategy, and since I do not have time to be staring at charts, this is something I really want to work.
However, something I have always wondered about moving from higher time frame to lower. Once the weekly has closed above/below the BBMB on the weekly, and then you move to the Daily, do you start looking at Daily candles from the first day of the week where the candle closed and ONLY include daily candles within that week? If not, how far out do you look for Daily candles to close above/below the upper/lower BB's? When do you consider that pair not tradeable anymore?
  • #1,423
  • Edited 10:17am Aug 30, 2017 10:01am | Edited 10:17am
I have closed my EURUSD long and AUDUSD long. I feel the bulls setup had been invalidated. One could see how EURUSD reacted to 2012 resistance 1.20492. I decide to join the bears. We cannot ignore correlation. USDCHF should have given me earlier exit signal on AUDUSD long and EURUSD long
Make all mistakes in demo and rain in pips in live account
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  • #1,424
  • Aug 30, 2017 10:52am Aug 30, 2017 10:52am
We could see the daily middle band and 4hr upper band on USDCAD.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -50.3%
  • #1,425
  • Aug 30, 2017 12:18pm Aug 30, 2017 12:18pm
Quoting lctrader11
Hi 9j, I very much like this simple strategy, and since I do not have time to be staring at charts, this is something I really want to work. However, something I have always wondered about moving from higher time frame to lower. Once the weekly has closed above/below the BBMB on the weekly, and then you move to the Daily, do you start looking at Daily candles from the first day of the week where the candle closed and ONLY include daily candles within that week? If not, how far out do you look for Daily candles to close above/below...
If I get you right you probably saying about Friday weekly candle. If during the week the last weekly closed above the middle band I look for the daily the next week above upper band.
Make all mistakes in demo and rain in pips in live account
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  • #1,426
  • Aug 30, 2017 12:41pm Aug 30, 2017 12:41pm
Let me add more info about my exit here. Most of my trades are always open- no tp. Even when tp is set I keep eyes like hawk on any reversal. Don't have the mindset of setting tp and "forget" attitude. This is because small S/R can reverse it while you watch your winner positions turns looser.
Make all mistakes in demo and rain in pips in live account
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  • #1,427
  • Aug 30, 2017 4:11pm Aug 30, 2017 4:11pm
Market has closed. USDCHF daily and 4hr have given their bullish setup. Second opportunity after the Dragonfly yesterday
Make all mistakes in demo and rain in pips in live account
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  • #1,428
  • Aug 30, 2017 4:21pm Aug 30, 2017 4:21pm
Just as when using the weekly middle band and daily upper/lower band, below the low/above the high of the weekly candle be used for sl on bullish/bearish respectively, so when the daily and 4hr is used the daily candle should be used. This is to give you more confidence for possible retracement. If it's too wide lot size should be reduced.
Make all mistakes in demo and rain in pips in live account
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  • #1,429
  • Aug 30, 2017 4:22pm Aug 30, 2017 4:22pm
Good night
Make all mistakes in demo and rain in pips in live account
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  • #1,430
  • Aug 30, 2017 4:25pm Aug 30, 2017 4:25pm
Tomorrow may be time for AUDNZD. Stochastic leaving overbought and was not able to break the resistance. But I need more confirmation before joining- bulls or bears
Make all mistakes in demo and rain in pips in live account
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  • #1,431
  • Aug 31, 2017 9:44am Aug 31, 2017 9:44am
Quoting 9jatrader
Tomorrow may be time for AUDNZD. Stochastic leaving overbought and was not able to break the resistance. But I need more confirmation before joining- bulls or bears
AUDNZD is breaking strong resistance
Make all mistakes in demo and rain in pips in live account
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  • #1,432
  • Aug 31, 2017 9:50am Aug 31, 2017 9:50am
Though the breakout is impressive, there is possibility of strong retesting. The bulls have been too strong
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -50.3%
  • #1,433
  • Aug 31, 2017 1:38pm Aug 31, 2017 1:38pm
Quoting 9jatrader
{quote} AUDNZD is breaking strong resistance
I was analyzing, trying to conclude whether to enter the trade. I decided to go to higher time frames, looking at monthly and weekly. The reason for going to higher TF was that it's risky to join movement, breakout or whatever when price has moved for so long time. This is because retracement can ambush our position and triggered sl, even when we're wrong. What I found was that just as using the weekly middle band and daily lower/upper band, I check the monthly middle band and weekly upper band. I felt great for me to enter on the daily. The monthly is still right above the middle band while the weekly closing above the upper band.
Make all mistakes in demo and rain in pips in live account
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  • #1,434
  • Edited 6:48pm Aug 31, 2017 2:01pm | Edited 6:48pm
It's scary
Make all mistakes in demo and rain in pips in live account
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  • #1,435
  • Sep 1, 2017 2:53am Sep 1, 2017 2:53am
Quoting 9jatrader
We could see what Pinbar/Dragonfly is doing with USDCHF. Am scared of EURUSD long now. GBPCHF and USDCHF should have informed to get out. I enter not too long
How far will the second trade setup on NZDUSD go? The weekly is closing below the middle band and the daily is closing below the lower band. This is the second setup. The first was the Shooting Star, on 27th July on the daily. It was formed around strong resistance 0.74871

It had been able to crash the pair down now over 320 pips. Traders pay more attention to support and resistance. Even though I have been trading for some time now it's interesting to see how setup is made around S/R
Make all mistakes in demo and rain in pips in live account
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  • #1,436
  • Sep 1, 2017 7:18am Sep 1, 2017 7:18am
Dear friends/readers on this thread I wish to point out some of the setup, apart from the one on the main topic here, that have high probability to move strongly.
SOME OF THE CANDLESTICKS/PATTERNS THAT MOVE ACCORDINGLY:

SHORT POSITIONS:
1. Strong Bearish Engulfing Pattern below/around strong resistance, sometimes supported by Bollinger Bands upper breakout.
2. Strong Gravestone Doji; Shooting Star below/around strong resistance.

LONG POSITION
1. Strong Bullish Engulfing Pattern right above/around strong support, sometimes supported by Bollinger Bands lower breakout.
2. Strong Dragonfly/Pinbar supported by lower band breakout on/around strong support.
3. Strong Hammer above/around strong support. When the hammer closed with bullish body, no stressful analyses before join
This setup/candlestick or patterns are seen on all candlestick related trading charts
Make all mistakes in demo and rain in pips in live account
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  • #1,437
  • Sep 1, 2017 8:50am Sep 1, 2017 8:50am
When noise around USD is over it would most likely to return to the setup to the setup already made
Make all mistakes in demo and rain in pips in live account
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  • #1,438
  • Sep 1, 2017 8:55am Sep 1, 2017 8:55am
This is where/why I don't like to look at charts when news is being released. It can cause traders to close positions out of emotion. USDJPY, USDCHF already made strong setup. But scared of USDCAD attempted support breakout. But I don't think it's ready now.
Make all mistakes in demo and rain in pips in live account
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  • #1,439
  • Sep 1, 2017 4:41pm Sep 1, 2017 4:41pm
What is your bollinger band period and deviation
  • #1,440
  • Sep 1, 2017 5:04pm Sep 1, 2017 5:04pm
Quoting candyman752
What is your bollinger band period and deviation

Period: 20
Deviations: 2

Just leave it the way it's already in MT4
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -50.3%
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