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  • #1,561
  • Oct 7, 2017 3:23pm Oct 7, 2017 3:23pm
Strong Gravestone Doji/Shooting Star on USDCHF. This is probably set for downward move. If it does, it means the dragonfly setup is returning to ranging again. Am already out of USD bulls. It was a great ride. I hope to join the bears now
Attached Image (click to enlarge)
Click to Enlarge Name: usdchfuu.png Size: 50 KB
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  • #1,562
  • Oct 7, 2017 3:27pm Oct 7, 2017 3:27pm
The great thing on this pair is that since May,2017 no candle had been able to close above the upper band. It means that it was not trending and so had the momentum to send it down
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  • #1,563
  • Oct 7, 2017 5:11pm Oct 7, 2017 5:11pm
Sometime ago I listed some of the candlestick/patterns that have higher probability to move accordingly. USDCHF recent setup belongs to these. It was formed right/around strong resistance level,0.97707. I hope you still remember all. I do not do much analyses before jumping in. I might be wrong, but market is always right.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,564
  • Oct 8, 2017 2:40am Oct 8, 2017 2:40am
Quoting 9jatrader
Sometime ago I listed some of the candlestick/patterns that have higher probability to move accordingly. USDCHF recent setup belongs to these. It was formed right/around strong resistance level,0.97707. I hope you still remember all. I do not do much analyses before jumping in. I might be wrong, but market is always right.
Hi. Can you share a link to these patterns? thanks
  • #1,565
  • Oct 8, 2017 6:32am Oct 8, 2017 6:32am
Quoting dbsys
{quote} Hi. Can you share a link to these patterns? thanks
https:http://www.forexfactory.com/showthre...617602&page=36. You would see them on #1436. I hope it shows up.
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  • #1,566
  • Oct 8, 2017 6:54am Oct 8, 2017 6:54am
The setups based on the patterns are currently running:
1.GBPCHF short: Strong Bearish Engulfing around and below resistance level, 1.32107. I did not take this
2. AUDCHF short: Strong Bearish Engulfing around resistance level, 0.77816. I took this position and still running.
3. AUDUSD short: Strong Shooting Star/Gravestone Doji around resistance level, 0.81054. Am also in this position, possibly have analyzed it here. Market is the ultimate decision maker at the end
Make all mistakes in demo and rain in pips in live account
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  • #1,567
  • Oct 8, 2017 7:02am Oct 8, 2017 7:02am
You would see the short setup on USDCHF around resistance,0.97707, daily. I have not taken this. I hope to jump in tonight. I might be wrong, market always right
Make all mistakes in demo and rain in pips in live account
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  • #1,568
  • Oct 8, 2017 7:08am Oct 8, 2017 7:08am
USDCHF is drawing my interest- two opposing setups. There was a strong Dragonfly on 28th August that had not completed its job. And now there opposing one now, shooting star. I hope to monitor the support around which the Dragonfly was formed on the 18th August, possibly to set as target
Make all mistakes in demo and rain in pips in live account
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  • #1,569
  • Oct 8, 2017 7:14am Oct 8, 2017 7:14am
Have I abandoned the strategy of using the weekly middle band and daily upper/lower band, the main strategy here? No. Many pairs are volatile and trending now and so I use other strategies. When there is already strong setup on the daily like bearish engulfing using the daily middle band and 4hr lower band can help to join, using the daily candle for sl, not 4hr candle. I do not have time for 4hr trading
Make all mistakes in demo and rain in pips in live account
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  • #1,570
  • Oct 8, 2017 7:21am Oct 8, 2017 7:21am
The importance of all these is that you have a better sl as long as it rejected upper/lower band. When sl is triggered you know it failed honourably
Make all mistakes in demo and rain in pips in live account
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  • #1,571
  • Oct 8, 2017 10:42am Oct 8, 2017 10:42am
Good morning 9jatrader. What do you think of this pair, the last candle was a doji, I hope it breaks the support and trend line to enter short. I congratulate you on your thread. I will be following you
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-10-08 EUR-JPY.png Size: 31 KB
  • #1,572
  • Oct 8, 2017 4:28pm Oct 8, 2017 4:28pm
Quoting cesar8
Good morning 9jatrader. What do you think of this pair, the last candle was a doji, I hope it breaks the support and trend line to enter short. I congratulate you on your thread. I will be following you {image}
You're welcome to my thread. I do not see any setup here. If you trade using bollinger bands you would observe that the pair is in ranging/sideways mood. This shows that the big boys are getting out of the pair and so the small s/r are created by the small traders like you and I. You would also see the correlated pair, CHFJPY moving sideways.
Make all mistakes in demo and rain in pips in live account
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  • #1,573
  • Oct 8, 2017 4:30pm Oct 8, 2017 4:30pm
The pair can be said to be choppy
Make all mistakes in demo and rain in pips in live account
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  • #1,574
  • Oct 9, 2017 5:07pm Oct 9, 2017 5:07pm
Quoting 9jatrader
This is what shooting star can do when formed on ranging market. The weekly closed below middle band while the daily closed below lower band {image}
It has been able to make 300 pips for now

I keep it open.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,575
  • Oct 9, 2017 5:14pm Oct 9, 2017 5:14pm
Quoting 9jatrader
{quote} It's correlated pair, EURGBP down by over 400 pips now. It has the same setup as EURUSD short The level, 0.9266 where the setup was made had failed to be broken since October,2009. EURUSD is so slow to crash, though it has similar setup as EURGBP. {image}
EURGBP correlated pair, GBPCHF made strong bullish engulfing above the broken resistance, now support. It also on Fibonacci 38.1%. I hope the two pieces of information help it to be bullish.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,576
  • Oct 10, 2017 3:43pm Oct 10, 2017 3:43pm
Quoting 9jatrader
Strong Gravestone Doji/Shooting Star on USDCHF. This is probably set for downward move. If it does, it means the dragonfly setup is returning to ranging again. Am already out of USD bulls. It was a great ride. I hope to join the bears now {image}
Strong confirmation is being formed on. Some prefer to wait for confirmation, while aggressive traders don't wait for confirmation on strong Gravestone Doji/Shooting Star
Make all mistakes in demo and rain in pips in live account
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  • #1,577
  • Oct 10, 2017 3:47pm Oct 10, 2017 3:47pm
I prefer aggressive trading when trading Gravestone Doji/Shooting Star ( having bearish body ), Hammer ( having bullish body ). Waiting for confirmation would make one to miss some pips and so sl has to be wider
Make all mistakes in demo and rain in pips in live account
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  • #1,578
  • Oct 11, 2017 7:50am Oct 11, 2017 7:50am
BB trading indicator is very popular for marking dynamic support & resistant levels ruing ranging time! But, according to my personal trading experience I see, this indictor lose its effectiveness during a trendy market!
  • #1,579
  • Oct 11, 2017 8:28am Oct 11, 2017 8:28am
Quoting NeilWagner
BB trading indicator is very popular for marking dynamic support & resistant levels ruing ranging time! But, according to my personal trading experience I see, this indictor lose its effectiveness during a trendy market!
It's a great tool for both trending and ranging. during ranging you know that big boys are out when bollinger bands squeeze is formed
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,580
  • Oct 12, 2017 3:36pm Oct 12, 2017 3:36pm
Quoting 9jatrader
{quote} EURGBP retracing, and we hope to have continuation of short trade soon following retracement.
The long awaited setup is being formed now on EURGBP, strong Shooting Star.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
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