Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,322
- May 18, 2018 7:30pm May 18, 2018 7:30pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Hi emmanuel, I know you do not trade USDCHF but just wondering what you think... Is this a good weekly reversal candle to start sell trade next week? Thank you. {image}
USDCHF after week 19 May 07-11 closed, it is market type range trading for 4H short swing.
trading range is about 150 pips, sell at resistance with initial Stop Loss 2Bars_Look_Back on W1.
ADR(100) is 68pips,
Average Weekly Range (52 weeks) is 157pips
Trade Distance 0.25ADR or 0.5ADR ~ 30pips round down
Maximum Number of Trades per Basket : 5.
Know when to Cut-Loss in case market decides to break above parity. This can happen in the coming weeks. Anything can happen...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,323
- May 18, 2018 8:04pm May 18, 2018 8:04pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
{quote} USDJPY Week 20 May 18 update: UJ did break the 2 previous weeks highs and press on upwards. {image} Be patient and follow the current trend up but be prepared when the current trend ends. Strong trends usually do not reverse violently unless there is major crisis affect the various markets. I see some potential reaction between 111.00 and 111.50 zone... some traders may call this "FTZ" or "FTA". {image} It's Friday, so we be cautious with buyers exits and not jump to conlcusion that sellers entering the market now.
USDJPY Week 20 May 18 closed.
Price pulled back and clsoe 110.75. Tha'ts a MN key S&R.
You should now update your own chart and plan for next week's trading.
Do Not assume that the market has reversed and start selling. If you trade this way by assuming that market will reverse at R61 and R100 zones and 'picking tops', you will suffer large floating drawdown in your trading accounts.
Question you must ask is: How many weeks do you hold onto to floating losses? 1 week,2 weeks, 3 weeks,4 weeks,and ,.. until the market finally turns around into your favour.
Let the market make the first move and we wait for the pull back, after that only we jump in the established trend. It is safer to trade only in the established trend and you will also see the pull back and use that to place you initial Stop Loss and do you trade Position Size.
next week no selling, I am still in buy mode.
wait for the sellers to move the market.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,324
- May 18, 2018 8:21pm May 18, 2018 8:21pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Picking Tops and Bottoms
there are 29 H4 candles in One Week,
and if you trade the swings in One Week, you must get out in that same One Week. Why hold onto losing trades and floating losses in the same One Week?
Every new Week you will find a new Weekly Average (High+Low+Close)/3.
Simple look at the pair you trade, the Week has closed. You know the weeks High, Low and its Close prices. Simply calculate the Average of these 3 prices and what do you get?
You can use any formula you like and predict the support and resistance from this Weekly Average.
In fact, you can make another Weekly Average using all 4 prices - (Open+High+Low+Close)/4
You get yet another Weekly Average.
.../
there are 29 H4 candles in One Week,
and if you trade the swings in One Week, you must get out in that same One Week. Why hold onto losing trades and floating losses in the same One Week?
Every new Week you will find a new Weekly Average (High+Low+Close)/3.
Simple look at the pair you trade, the Week has closed. You know the weeks High, Low and its Close prices. Simply calculate the Average of these 3 prices and what do you get?
You can use any formula you like and predict the support and resistance from this Weekly Average.
In fact, you can make another Weekly Average using all 4 prices - (Open+High+Low+Close)/4
You get yet another Weekly Average.
.../
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,326
- May 19, 2018 4:57am May 19, 2018 4:57am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,327
- May 19, 2018 4:59am May 19, 2018 4:59am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,329
- May 20, 2018 12:51am May 20, 2018 12:51am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Those wanting more examples go to Forum: Commercial, then Craig Harris Stochastics Method... then start reading on page 246, post 3676 to the end... you will learn more fast... We switched from there to only discuss this method in the new forum...
If you use the default setting in your FF profile, the Posts per Thread Page set to 20, the link to Post 3676 is in Page 184.
The page 246 is correct if you change the Posts per Thread Page to 15.
Also read Post#3018, that where the other 2 methods summary is.
https://www.forexfactory.com/showthr...44#post4305744
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,335
- May 20, 2018 5:31pm May 20, 2018 5:31pm
- Joined Aug 2012 | Status: Trader | 18,655 Posts
the cautious seldom err....C
- #87,338
- May 21, 2018 2:58am May 21, 2018 2:58am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
EURAUD Week 21 May 21 MN view
Strong move lower breaking previous months April and March lows,
go look at your Daily charts and see the empty space below.
possible target 1.5600 and 1.5450, anything can happen in that region.
Strong move lower breaking previous months April and March lows,
go look at your Daily charts and see the empty space below.
possible target 1.5600 and 1.5450, anything can happen in that region.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,339
- May 21, 2018 3:22am May 21, 2018 3:22am
- | Joined Nov 2016 | Status: Trader | 1,096 Posts
'in less than half an hour he made over 100 ticks'
- #87,340
- May 21, 2018 3:24am May 21, 2018 3:24am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
EURAUD TMS chart
you just need to look to your left of your charts and see what can possibly happen.
you just need to look to your left of your charts and see what can possibly happen.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett