M5/15 RSI 50/50 Test Journal | Page 29 | Forex Factory

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M5/15 RSI 50/50 Test Journal

  • #561
  • Edited 10:31am Jun 4, 2019 9:57am | Edited 10:31am
Quoting pipShine
Didn't quite have the juice to go the distance. I think I got to the party a bit late - should have taken the 3br one candle earlier. Oh well, I made one pip... {image}
since you are trading the ny session, may be ny open line could help.
Attached Image (click to enlarge)
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ITB - Seeing Orderliness amongst 'Randomness'
  • #562
  • Jun 4, 2019 12:23pm Jun 4, 2019 12:23pm
I really must say that the MACD_OsMA[H1] really came in handy today.
I was ready to take a few different trades but the MACD didn't agree - and the Market kept ranging.
And the MACD can also let me know which pairs to keep an eye on.
It's not a part of my system but more like a weather report to see what kind of day it is...

Thanks for explaining how to use it with this system!
It helped me avoid several losses today.
  • #563
  • Jun 4, 2019 8:46pm Jun 4, 2019 8:46pm
I took this 2(b) trade just after Sydney opened.
I think it was a good entry but I held on to it for too long.
I had the opportunity to manually close it at breakeven when I saw that it was going nowhere.
Then the red flag AUD-GDP q/q announcement took me out.
I guess I flew too close to the fire.
Attached Image (click to enlarge)
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  • #564
  • Jun 4, 2019 11:39pm Jun 4, 2019 11:39pm
if one is day trading the m15 m5, it's a psychological warfare as it provide a small narrow view as one hardly look at the daily weekly charts.
when price is ranging for quite some time, one gets impatient to enter trades even though not in the maximum trending conditions.
price nearly always have a big move after breaking out of range.
ITB - Seeing Orderliness amongst 'Randomness'
  • #565
  • Jun 5, 2019 12:05am Jun 5, 2019 12:05am
though i entered trades at less than optima conditions, i will explain the reasons in the daily chart.

m5: 50 sma trend down red. macd trend below zero, however less than optima being green and macd above signal line.
when some of the entries were taken, the macd was red at that moment but later turned green due to the macd being mtf and only confirm at the end of the hour candle close. later further entries were taken due to pin bar and price not able to close above asia high.

d1: the previous day candle was very dominant closing below kc, last week's low (also the low of previous day).
when this kind of things happen, expect retracement and ranging the next day (turned out to be an inside candle). waiting for a range break in the direction of trend.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #566
  • Jun 5, 2019 4:40am Jun 5, 2019 4:40am
gbpnzd short tp around london open line.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #567
  • Jun 5, 2019 5:40am Jun 5, 2019 5:40am
Quoting Inthebox
on a side note, there may be a trend reversal for nzdusd. it completed a 4 downward wave, broke and tested the trend line and if it can close above last week's high at the end of day, i may buy for long term. {image}
50 sma and resistance zone may stall a bit.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #568
  • Jun 5, 2019 5:50am Jun 5, 2019 5:50am
m15 ej 3brp 1b sell. small tf looks like counter trend. d1 is a trend continuation.
took it mainly due to strong resistance zone.
ITB - Seeing Orderliness amongst 'Randomness'
  • #569
  • Jun 5, 2019 7:00am Jun 5, 2019 7:00am
Quoting Inthebox
though i entered trades at less than optima conditions, i will explain the reasons in the daily chart. m5: 50 sma trend down red. macd trend below zero, however less than optima being green and macd above signal line. when some of the entries were taken, the macd was red at that moment but later turned green due to the macd being mtf and only confirm at the end of the hour candle close. later further entries were taken due to pin bar and price not able to close above asia high. d1: the previous day candle was very dominant closing below kc, last...
You did really well during that session - over 200 pips!
Nicely done and thanks for sharing your analysis,.
  • #570
  • Jun 5, 2019 7:09am Jun 5, 2019 7:09am
Quoting pipShine
{quote} You did really well during that session - over 200 pips! Nicely done and thanks for sharing your analysis,.
when one is in a ranging situation and could not find a good set up, that's when to go higher time frame.
ITB - Seeing Orderliness amongst 'Randomness'
  • #571
  • Jun 5, 2019 7:26am Jun 5, 2019 7:26am
watch m5 ucad 3brp. to go below london open as could not close above day open.
ITB - Seeing Orderliness amongst 'Randomness'
  • #572
  • Jun 5, 2019 7:30am Jun 5, 2019 7:30am
Quoting Inthebox
watch m5 ucad 3brp. to go below london open as could not close above day open.
Seems to be unsure of itself - will keep watching, tho.
  • #573
  • Jun 5, 2019 7:33am Jun 5, 2019 7:33am
Any idea what's happening right now with the sudden drop in the US dollar?
  • #574
  • Jun 5, 2019 7:34am Jun 5, 2019 7:34am
Quoting pipShine
Any idea what's happening right now with the sudden drop in the US dollar?
big drop in adp non farm
ITB - Seeing Orderliness amongst 'Randomness'
  • #575
  • Jun 5, 2019 7:35am Jun 5, 2019 7:35am
Quoting pipShine
{quote} Seems to be unsure of itself - will keep watching, tho.
most likely go down. if could not close above ny open and day open.
ITB - Seeing Orderliness amongst 'Randomness'
  • #576
  • Jun 5, 2019 7:36am Jun 5, 2019 7:36am
Quoting Inthebox
{quote} big drop in adp non farm
Wow!
That's quite a reaction from medium impact news.
But then again, it was a very big drop...
  • #577
  • Jun 5, 2019 7:39am Jun 5, 2019 7:39am
Quoting pipShine
{quote} Wow! That's quite a reaction from medium impact news. But then again, it was a very big drop...
it's a red news over here
https://www.investing.com/economic-calendar/
ITB - Seeing Orderliness amongst 'Randomness'
  • #578
  • Jun 5, 2019 7:43am Jun 5, 2019 7:43am
cannot imagine if ISM Non-Manufacturing PMI also down
ITB - Seeing Orderliness amongst 'Randomness'
  • #579
  • Jun 5, 2019 7:46am Jun 5, 2019 7:46am
I'm watching for a 3br on EurJpy M15 right now.
  • #580
  • Jun 5, 2019 7:54am Jun 5, 2019 7:54am
Quoting pipShine
I'm watching for a 3br on EurJpy M15 right now.
watch the m5 also
ITB - Seeing Orderliness amongst 'Randomness'
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