Monthly Profit - Daily Trading using SMA

Quoting ryanngyk

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Thanks Oddbj. Not sure if this is right, but looks like there's some difficulty in punching through the resistance zone. Will be watching for some bearish confirmation and perhaps a close below the 5 SMA before taking a short to around 84.5. What do you all think? {image}

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Quoting jmtini

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{quote} Sorry if you don't mind me sticking my nose in, you are absolutely right to be looking to short this pair. However rather sell off a pull back. If everyone will forgive me sticking a 4 hour chart in here, ideally one would want to take the trade off another bounce off the 200 ema on the 4 hr chart around 85.50/60 {image}

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Quoting ryanngyk

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{quote} Hi Jmtini, of course, i appreciate your input. I didn't mention but I've been trying to trade using S/R and price action. I mark out the major S/R zones on the weekly and then intermediate ones on the daily, before dropping down to the 4H charts to take trades. I agree that we should trade off a pullback, and typically I would look for a confirmation on the 4H during a pullback before I short, i.e. a bearish pinbar. Could you clarify, that for the sake of Bk8's strategy, do we need to wait for prices to close beyond the 5SMA i.e. taking...

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Quoting jmtini

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{quote} Hi ryanngyk Oh dear I should not have stuck that chart up because I'm not even using BB anymore. Sorry. No I prefer to get in as early as possible on a move which is why I try to take trades off the higher value ema's (or off lower value on higher time frame if that makes any sense), if at all possible. Pity - I missed that nice opportunity on AUDJPY on 5th December!

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Quoting ryanngyk

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{quote} Haha I realise you've adapted it to do without the BBs. I believe Filipo did as well. I personally don't use the BBs, but I also have no experience with dynamic S/Rs. I always just saw the cross on the 5sma as a way to look at momentum, but I realise sometimes it's not a good indicator. So far, identifying S/R zones accurately has helped me the most. What is your experience with bk8's strategy, or if you've adapted it to something else, with that strategy of yours?

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Quoting Oddbjorg

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Hello Am in on NU - do not know for how long Nzd is going long - but with a good sl it will be ok for now. Ea 60% {image} {image}

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Quoting jmtini

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{quote} That's another good pick Oddbjorg. You're getting good at this! Guys I'm officially trading the dialy charts from today. Reason for this is my new job so I don't have the time to watch the lower time frames anymore. Here are the kind of setups that I will be looking for (see chart): I'm not sure how they line up with BK8 but pretty sure that the 5 sma will be angled correctly {image}

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Quoting Oddbjorg

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Hello Am in on NU - do not know for how long Nzd is going long - but with a good sl it will be ok for now. Ea 60% {image} {image}

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Quoting jmtini

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EUR on the move guys. Lots of good news out of Eurozone

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Quoting Oddbjorg

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{quote} Hello Thank you. Works out on Bk8 H system fine, but waiting for it to break throuh in G & U ..pairs wit Eur. Bur all together ++ All the best.

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Quoting Filipo1

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Congratulations Oddbjorg, your calls get better every time, thanks a lot. Also these last setups confort me in my decision to get free of the BB limitations. jmtini, I think just the same as you about EURUSD: a big candy for the sweet teeth and just doubled my pos. at 1.1773 All the best.

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