Daytrading with very tight stops.

USDJPY

long 112.50 ( 4 hours ago ) as discribed in the post above .

Target 113.10 ( next thin red level)
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USDCHF

long 0.9713 ( 4 hours ago )

Target 0.9777 ( next thin red level)

You can see the results of this strategy here on live account: http://www.myfxbook.com/members/Prof...rading/2215459

Just before the 4h bar close ( ~30 minutes )

USDCAD

1.2404 ( next minor if major will be broken ) )
1.2338 ( major )

AUDUSD

0.7930 ( major )
0.7865 ( next minor if major will be broken )

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The rules of trading ( if the price is closed to the levels ) are very simple.
You have to wait the 1h's ( 4h's close is the better and stronger signal ) close and after that :

Direction of the price to the level - from the south to the north:
- if the price is above the level ( breaks it through and even + 1-2 pips ) you have the opportunity to open a long ( trend position )
- if the price stalls at the level and pullback( even - 1-2 pips ) you have the opportunity to open a short ( countertrend position )

Direction of the price to the level - from the north to the south:
- if the price is below the level ( breaks it through and even - 1-2 pips ) you have the opportunity to open a short( trend position )
- if the price stalls at the level and pullback( even + 1-2 pips ) you have the opportunity to open a long ( countertrend position )

There are two types of red lines : thick is the major level and thin is a minor level.

You can see the results of this strategy here on live account: http://www.myfxbook.com/members/Prof...rading/2215459

EURUSD now


1.1999 is a major ( thick red line ) level ...as you remember - we sold below it two days ago...
.
.
.
.
5 minutes later :

nice reaction , you can use it as a strong resistance now .

This is the up line of the trend channel on 4h chart also.
And be carefull...Draghi's speech at 8:30 GMT.
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You can see the results of this strategy here on live account: http://www.myfxbook.com/members/Prof...rading/2215459

EURUSD

sold 1.1990
closed 1.1940
+ 50 pips


You can see the results of this strategy here on live account: http://www.myfxbook.com/members/Prof...rading/2215459

Hello
this strategy is good where can we find the indicator used in this strategy
thank you

This indicator is my proprietary indicator. This is not a free product.

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I would like to present for everybody some future week's "signs" ( daily charts ) :

EURUSD

Attached Image (click to enlarge)

The last day of the week formed the pin bar.
The topside is limited by 1.2001 key level.
If the pair will go downside we will wait it at 1.1905 first ( minor level) and if it breaks , at 1.1840 ( major level )

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GBPUSD

The price went down very well from the major level at 1.3596 and after that we saw the break of the minor level at 1.3498 on Friday with close below this level. We may see 1.3434 level's ( major level ) test this week.

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This strategy account's numbers :

http://www.myfxbook.com/members/Prof...rading/2215459

July + 23.91%
August + 48.34%

This month + 55.71%
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max dd = 13%

EURUSD now


If the 1h bar will close below the 1.1904 level ( minor )
we will have the chance to open the short trade with the target at 1.1840( with a little barrier at 1.1870 ...you may
choose it as a first target ).

...the more important the close of the 4h bar...after 7 minutes.
Waiting...

EURUSD

the first target ( "our little barrier" 1.1870 ) achieved
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This strategy account's numbers :
http://www.myfxbook.com/members/Prof...rading/2215459

July + 23.91%
August + 48.34%
This month + 59.02%

Today + 2.13 %
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max dd = 13%

I have many requests about the indicator's meaning.
This is not an indicator of supports and resistances.

Try to explain :
4h chart USDJPY

Attached Image (click to enlarge)

Green arrows - open trades
Red arrows - close trades
Green lines - the length of the trade
Yellow ellipses - the risk zone of the trades.

You can see that AFTER the price on the 4h bar closes above the major red line it goes ( almost without any pullback below ) to the next major line.

First trade would get you + 155 pips,
the second + 122 pips.

The more risk you would taken was - 16 pips( first trade ) against you.

With the help of this indicator you had all these lines on the chart at the day before the first trade ( the price breaks MA from down to the up at the bottom of the screenshot ) .

we are here :
EURUSD 1.1840


opened short at 1.1895
closed 1.1841
+ 54 pips = + 540 $

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This strategy account's numbers :
http://www.myfxbook.com/members/Prof...rading/2215459

July + 23.91%
August + 48.34%
This month + 59.02%

Today + 2.13 %
------
max dd = 13%

There was
in the sunday post ...

GBPUSD 1h today
you can see the fast 1.3434 level's test ( major level)with the 1.34308 low on the 1h chart.

Friends, can you look at the post #23 in this thread.
That was a Friday.
Look at the chart on that screenshot.
There was a call to sell from the 1.1999 level ...

Is this not an amazing thing that there were all these levels already we traded today ?


Is there nothing surprising in that it is at these levels that the price stalled ?
Look at EURUSD 1.1840
Look at GBPUSD 1.3434
Please, look at the live charts right now

I had all these levels on Friday ...
Such a simple thing : the break of the level and we have a target at the next red line.

EURUSD

While we are below the 1.1840 major level the bearish bias is increasing.
You may use the 1.1840 as the resistance to open shorts with the target 1.1775 ( minor level for now).
p.s. see posts above, please
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This strategy account's numbers :
http://www.myfxbook.com/members/Prof...rading/2215459

July + 23.91%
August + 48.34%
This month + 59.02%
------
max dd = 13%

EURUSD


Low of the day for now= 1.1781 ... 6 pips from our level at 1.1775.
If the level 1.1775 will be broken quickly and abruptly
we will reach 1.1711 this week...

p.s. there was quite big volume @short@ 25 min ago at 1.1789...
imho, 1.1800 will stay as a ceiling .

We are here :
EURUSD


Let's look after the price


p.s. if you have a short position would be better to close it here...though just wating the close of the hour.
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This strategy account's numbers :
http://www.myfxbook.com/members/Prof...rading/2215459

July + 23.91%
August + 48.34%
This month + 59.02%
------
max dd = 13%

EURUSD

Attached Image

Some huge volume had been selling in last 20 minutes
of London session with close below 1.1775.
But don't forget ...Fed Chair speaks 4:45 pm gmt...

If somebody would like to see todays' USDJPY levels now, let me know here I will publish.

I would, please

USDJPY


Pay attention on the breakout of the level 111.84 today...
and high 112.476 near our major level 112.50.