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Simple and profitable trading style

  • #2,401
  • Feb 5, 2018 11:41am Feb 5, 2018 11:41am
Quoting Sesamstrasse
I havent seen anything new in my analyses, valid by weekly close above/below middle band.
Nothing new though. Am afraid of surprise move.
Make all mistakes in demo and rain in pips in live account
  • #2,402
  • Feb 5, 2018 11:43am Feb 5, 2018 11:43am
Quoting atmokupe
@9jatrader, Happy new year. I took some break from forex trading last year. What do you think of this setup on USDCAD? It has crossed the middle band on the daily chart and the 4hr has crossed the upper band. {image} {image}
Same to you. Welcome back. I got in yesterday- USDCAD long
Make all mistakes in demo and rain in pips in live account
  • #2,403
  • Feb 5, 2018 12:53pm Feb 5, 2018 12:53pm
USDCAD monthly ( September ) much more than valid. Such Pin Bar has strong bullish bias. The bulls have been looking for good entry point. Glad to have joined them
Make all mistakes in demo and rain in pips in live account
  • #2,404
  • Feb 6, 2018 2:38pm Feb 6, 2018 2:38pm
Check out the USDJPY Hammer

Chart failed to upload. Anyway it was formed on strong support
Make all mistakes in demo and rain in pips in live account
  • #2,405
  • Feb 6, 2018 3:55pm Feb 6, 2018 3:55pm
Am out of CADCHF at last. Am not safe now
Attached Image (click to enlarge)
Click to Enlarge Name: cadchf1.png Size: 48 KB
Make all mistakes in demo and rain in pips in live account
  • #2,406
  • Feb 8, 2018 3:30am Feb 8, 2018 3:30am
This week was really bloody for me
Make all mistakes in demo and rain in pips in live account
  • #2,407
  • Feb 8, 2018 3:32am Feb 8, 2018 3:32am
I decided to join the EURUSD bears using the daily middle band and 4hr lower band. Trend seems exhausted.
Make all mistakes in demo and rain in pips in live account
  • #2,408
  • Feb 8, 2018 3:37am Feb 8, 2018 3:37am
While the strong Shooting Star formed on EURGBP 12th October remains valid, I decided to trade the range. Yesterday there was upper band rejection and setup, and so had to take another position while the previous keeps running
Make all mistakes in demo and rain in pips in live account
  • #2,409
  • Feb 8, 2018 3:54am Feb 8, 2018 3:54am
EURGBP would crash strong when it's time. It was so with CADCHF- moving within range for months. The interesting thing about the EG is that swap increases by the day while it ranges.
Make all mistakes in demo and rain in pips in live account
  • #2,410
  • Feb 8, 2018 4:27am Feb 8, 2018 4:27am
Quoting 9jatrader
I decided to join the EURUSD bears using the daily middle band and 4hr lower band. Trend seems exhausted.
I'm cautious of the opening an short order on the EU, because of:
1. Risk reward looking at my next target is not adding up. Risking 56 pips to make 76 pips.
2. What do you think of the support lines at 1.221 just below the current price point.

Also I wanted to ask just for a refresher, do you set target points with this strategy. I remember at the beginning you said to close the trade when the MA crosses ( if i remember correctly), what is your current take on taking profits?
Attached Image (click to enlarge)
Click to Enlarge Name: EU DAILY.PNG Size: 55 KB
  • #2,411
  • Feb 8, 2018 4:29am Feb 8, 2018 4:29am
I'm currently looking at USDCHF to enter long is the daily closes above the middle band and 4 hr above upper band. It is almost there.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf DAILY.PNG Size: 68 KB
  • #2,412
  • Feb 8, 2018 4:36am Feb 8, 2018 4:36am
Quoting atmokupe
{quote} I'm cautious of the opening an short order on the EU, because of: 1. Risk reward looking at my next target is not adding up. Risking 56 pips to make 76 pips. 2. What do you think of the support lines at 1.221 just below the current price point. Also I wanted to ask just for a refresher, do you set target points with this strategy. I remember at the beginning you said to close the trade when the MA crosses ( if i remember correctly), what is your current take on taking profits? {image}
1.221 is not a visible support. When you zoom your chart out you would see clearly some strong S/Rs. And besides its correlated pair, AUDUSD is already down and had formed strong Double tops on the weekly. I shared it on AUDUSD thread. Some I set take profit with the last weekly S/R. Some I just ride the trend until I see exhaustion and reversal around the next visible S/R
Make all mistakes in demo and rain in pips in live account
  • #2,413
  • Feb 8, 2018 4:42am Feb 8, 2018 4:42am
Quoting atmokupe
I'm currently looking at USDCHF to enter long is the daily closes above the middle band and 4 hr above upper band. It is almost there. {image}
Its negatively correlated wit EURUSD. When one is going up the other goes down. I decide to join the EU bears. Meaning UCHF would fly, but was afraid of it because it was formed at the bottom of bears.
Make all mistakes in demo and rain in pips in live account
  • #2,414
  • Feb 8, 2018 4:56am Feb 8, 2018 4:56am
Just as the Double Tops on AUDUSD would affect EURUSD and USDCHF it would also affect NZDUSD.
AUDUSD ( Down )=EURUSD ( Down )=USDCHF ( Up )=NZDUSD ( Down )
Make all mistakes in demo and rain in pips in live account
  • #2,415
  • Feb 8, 2018 5:04am Feb 8, 2018 5:04am
@ Atmokupe: I believe you still keep your USDCAD long?
Make all mistakes in demo and rain in pips in live account
  • #2,416
  • Feb 8, 2018 6:39am Feb 8, 2018 6:39am
Quoting 9jatrader
Just as the Double Tops on AUDUSD would affect EURUSD and USDCHF it would also affect NZDUSD. AUDUSD ( Down )=EURUSD ( Down )=USDCHF ( Up )=NZDUSD ( Down )
Thanks I understand
  • #2,417
  • Feb 8, 2018 6:42am Feb 8, 2018 6:42am
Quoting 9jatrader
@ Atmokupe: I believe you still keep your USDCAD long?
No. It hit my target point at 1.2569 (99 pips), though my heart wanted it to stay longer but I wasn't sure how to set the targets with this strategy.
That's also why i was asking how you set targets.

Now I'm thinking I should have set the target higher.
  • #2,418
  • Feb 8, 2018 3:37pm Feb 8, 2018 3:37pm
Quoting atmokupe
{quote} No. It hit my target point at 1.2569 (99 pips), though my heart wanted it to stay longer but I wasn't sure how to set the targets with this strategy. That's also why i was asking how you set targets. Now I'm thinking I should have set the target higher.
My position still open until I see the trend exhausts or setup a reversal. No target now
Make all mistakes in demo and rain in pips in live account
  • #2,419
  • Feb 8, 2018 4:50pm Feb 8, 2018 4:50pm
Uncertainty is gripping EURGBP. I decided to set TP to exit my short. It's becoming tighter- the big boys are exiting and so have to follow them
Make all mistakes in demo and rain in pips in live account
  • #2,420
  • Feb 10, 2018 4:02am Feb 10, 2018 4:02am
I got out of EURUSD and GBPUSD at the right time. AUDUSD short informed me to get out.
Make all mistakes in demo and rain in pips in live account
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