It takes a lot for me to IGNORE you, but you can try.
- #683
- Aug 31, 2017 1:44am Aug 31, 2017 1:44am
- Joined Jul 2011 | Status: Gold Again | 10,600 Posts
WOW, NZDUSD does it again!
I guess it didn't get my memo about waiting for London Open
But interesting to see that it stopped right at the RDL line
Remember what I said about the ADR of 50 days?
I guess it didn't get my memo about waiting for London Open
But interesting to see that it stopped right at the RDL line
Remember what I said about the ADR of 50 days?
It takes a lot for me to IGNORE you, but you can try.
- #685
- Aug 31, 2017 4:49am Aug 31, 2017 4:49am
- Joined Jul 2011 | Status: Gold Again | 10,600 Posts
It takes a lot for me to IGNORE you, but you can try.
- #686
- Aug 31, 2017 5:01am Aug 31, 2017 5:01am
- Joined Jul 2011 | Status: Gold Again | 10,600 Posts
Placed 2 trades today to get the feel for this, price action seems so sluggish, no news I guess, it is usually like this before the NFP on Friday
So, Stop Loss was 20 pips to 40 pips Take Profit, but I will move that up to the Range Day High or Low if trade is going good, which will improve on the initial 2 to 1 R:R.
I can do that because my EA moves to Break Even at 10 pips and trails by 10 pips.
Now I'm not saying that is the right way to do, it is the way I want to do it.
There are plenty of trades in the week and getting stopped out at BE is better than a loss IMHO
So the EURJPY was a BE trade, the EURAUD was looking better but also came back after +20 pips advance, stop was at 10 as I explained
Good luck all, and good night for me
So, Stop Loss was 20 pips to 40 pips Take Profit, but I will move that up to the Range Day High or Low if trade is going good, which will improve on the initial 2 to 1 R:R.
I can do that because my EA moves to Break Even at 10 pips and trails by 10 pips.
Now I'm not saying that is the right way to do, it is the way I want to do it.
There are plenty of trades in the week and getting stopped out at BE is better than a loss IMHO
So the EURJPY was a BE trade, the EURAUD was looking better but also came back after +20 pips advance, stop was at 10 as I explained
Good luck all, and good night for me
It takes a lot for me to IGNORE you, but you can try.
- #688
- Aug 31, 2017 5:16am Aug 31, 2017 5:16am
- Joined Jul 2011 | Status: Gold Again | 10,600 Posts
I knew something was up, look what happened right after I posted those charts, and some news coming on Twitter
EURUSD jawboned down
Euro Concerns Increase Chance Of Delay In QE Decision, Or A More Gradual Exit From Asset Purchases – RTRS Sources
STRONG EURO IS WORRYING A GROWING NUMBER OF ECB POLICYMAKERS: RTRS
EURUSD jawboned down
Euro Concerns Increase Chance Of Delay In QE Decision, Or A More Gradual Exit From Asset Purchases – RTRS Sources
STRONG EURO IS WORRYING A GROWING NUMBER OF ECB POLICYMAKERS: RTRS
It takes a lot for me to IGNORE you, but you can try.
- #689
- Aug 31, 2017 6:19am Aug 31, 2017 6:19am
- Joined Jul 2011 | Status: Gold Again | 10,600 Posts
While the CSM, Currency Strength Meter, is not a signal to get into a trade, it does point the pairs to watch, and if you do get into a trade, any number 5 and higher, you should stay in that trade.
See how price paused at the average daily range (50) ? broke thru now, no telling where it will be at NY close
Coming up to New York open but I'm off to bed, good night
See how price paused at the average daily range (50) ? broke thru now, no telling where it will be at NY close
Coming up to New York open but I'm off to bed, good night
It takes a lot for me to IGNORE you, but you can try.
- #692
- Aug 31, 2017 3:58pm Aug 31, 2017 3:58pm
- Joined Jul 2011 | Status: Gold Again | 10,600 Posts
Hello, Newbie but very interested. All is very clear about entry rules except how we draw the trend line. Please could someone explains the rules of drawing the trend line?. All opinions are welcome ! Thanks in advance for replies!
I won't go into it here, please do a Babypips Forex school
And the trend line as used here, is NOT the text book of "must join 3 or more points"
It's just a rough, visual GUIDE to help you "see" price action
And everyone has to use what works for them, the indicators, the price action, the trendline
There are no hard and fast rules for every setup, they won't all work.
Here is a chart from yesterday, price is going down, indicators are red
So we are looking for a breakout UP
Draw the trend line down as shown
There is breakout but indicators still red
When the indicators go green, is that enough signal for you?
Or do we need another trend line?
You have to be able to think for yourself
Have a nice day
It takes a lot for me to IGNORE you, but you can try.
