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MADdash (Moving Average Distance)

  • #2,801
  • Edited Jul 18, 2019 8:28am Jul 17, 2019 1:49pm | Edited Jul 18, 2019 8:28am
Quoting him.bhardwaj
{quote} Hi George, What role does Yesterday High(yH) , Yesterday Low(yL) and Daily pivot and Daily open plays in your chart? Regards, Himanshu
Possible roadblocks to price movement to watch for. They are support/resistance levels where price may stall or break. Awareness makes you prepared.
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  • #2,802
  • Jul 18, 2019 8:29am Jul 18, 2019 8:29am
Quoting him.bhardwaj
{quote} Hi George, What role does Yesterday High(yH) , Yesterday Low(yL) and Daily pivot and Daily open plays in your chart? Regards, Himanshu
Quote
Possible roadblocks to price movement to watch for. They are support/resistance levels where price may stall or break. Awareness makes you prepared.
Attached Image (click to enlarge)
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Note price reaction @ Yesterday's Daily Open Line; Today's Daily Open Line and Yesterday's High. When they coincide with RN/PPT, effect/reaction seem to be stronger.
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  • #2,803
  • Jul 18, 2019 8:44am Jul 18, 2019 8:44am
Quoting 919gilead
{quote} {quote} {image} Note price reaction @ Yesterday's Daily Open Line; Today's Daily Open Line and Yesterday's High. When they coincide with RN/PPT, effect/reaction seem to be stronger.

Thank you very much George for so livid explanation.

One more question here I caught this trade GBP/CAD today but did not take it as my stoploss was too big...can you please also tell me how to validate such breakouts and explosive trends that and when to take the trade and where was your stoploss in this case .

Thanks in advance
  • #2,804
  • Jul 18, 2019 9:10am Jul 18, 2019 9:10am
Quoting him.bhardwaj
{quote} Thank you very much George for so livid explanation. One more question here I caught this trade GBP/CAD today but did not take it as my stoploss was too big...can you please also tell me how to validate such breakouts and explosive trends that and when to take the trade and where was your stoploss in this case . Thanks in advance
Trading is a game of probabilities and we will miss the boat second guessing the market or waiting for too many confluences. My validation is matching strong currency group against weak currency group with at least 4 of the 7 pairs moving in the same direction, and the more the better and stronger.

I can't answer your specific question on the GBPCAD trade without a chart but have attached my own GBPCAD trades but definitely, where SL is too large it is better to stand down and wait for another opportunity. My SL is either below the MA Channel or the candle below the setup candle in a buy. You can see the only loss on the chart closed as soon as price dropped below the Channel.
Attached Image (click to enlarge)
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Calling it a day and all the best
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  • #2,805
  • Jul 18, 2019 8:16pm Jul 18, 2019 8:16pm
Attached Image (click to enlarge)
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This is a potential reversal trade I am watching as CAD has come up really strong. If CAD remains strong, I will be watching for GBP weakness on close below the MA Channel and Daily Opening Line. I have no profit target as I only move my SL to breakeven when trade is positive and thereafter trail SL.

Shalom
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  • #2,806
  • Jul 18, 2019 8:27pm Jul 18, 2019 8:27pm
Meanwhile I am enjoying the GBP strength against JPY weakness
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  • #2,807
  • Jul 18, 2019 8:40pm Jul 18, 2019 8:40pm
Hello and good evening sir I have 2 questions 1 do you use the default settings on Maddy or do you use different and if so do you mind sharing also I read that you also use the csdash I have tried the wkly setting Wich time frame do you find works best for you thanks
Peace!
  • #2,808
  • Jul 18, 2019 9:23pm Jul 18, 2019 9:23pm
Hello Sir,
I'm a new Trader, I read your post about how you scalp 2- 5 pips, please what is the strategy, I have already lost some funds trading already.
  • #2,809
  • Jul 18, 2019 11:18pm Jul 18, 2019 11:18pm
Quoting cashgod
Hello and good evening sir I have 2 questions 1 do you use the default settings on Maddy or do you use different and if so do you mind sharing also I read that you also use the csdash I have tried the wkly setting Wich time frame do you find works best for you thanks Peace!
No I don't use the default and did share my settings on MADDY and if you click on any of the charts you will see the settings right on the MADDY. I use 12 EMA on M1, 18 EMA & 55 EMA on M5 and 35 LWMA on all TFs (M5 to H1) for MADdash.

I used to play with the csDash and my settings was for M15 to H1.

Shalom
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  • #2,810
  • Jul 18, 2019 11:20pm Jul 18, 2019 11:20pm
Quoting Drkennis
Hello Sir, I'm a new Trader, I read your post about how you scalp 2- 5 pips, please what is the strategy, I have already lost some funds trading already.

If you read the thread, you will find the strategy there Sir.
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  • #2,811
  • Jul 18, 2019 11:38pm Jul 18, 2019 11:38pm
Quoting 919gilead
{image} This is a potential reversal trade I am watching as CAD has come up really strong. If CAD remains strong, I will be watching for GBP weakness on close below the MA Channel and Daily Opening Line. I have no profit target as I only move my SL to breakeven when trade is positive and thereafter trail SL. Shalom
Power is beginning to change hands
Attached Image (click to enlarge)
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  • #2,812
  • Jul 21, 2019 1:38pm Jul 21, 2019 1:38pm
I'll forward test this week. Thanks a lot for all the hard work 919gilead and Honestknave.
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keep it movin'
  • #2,813
  • Jul 22, 2019 8:43am Jul 22, 2019 8:43am
Good morning
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  • #2,814
  • Jul 22, 2019 8:50am Jul 22, 2019 8:50am
Quoting 919gilead
Good morning {image} {image}
Silently follow you
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  • #2,815
  • Jul 22, 2019 12:32pm Jul 22, 2019 12:32pm
Quoting 919gilead
{image} This is a potential reversal trade I am watching as CAD has come up really strong. If CAD remains strong, I will be watching for GBP weakness on close below the MA Channel and Daily Opening Line. I have no profit target as I only move my SL to breakeven when trade is positive and thereafter trail SL. Shalom
Hi Gilead
I would appreciate to get your CSM in the short form as shown on several charts.
Thanks Wolfsch
  • #2,816
  • Jul 22, 2019 12:48pm Jul 22, 2019 12:48pm
Quoting wolfsch
{quote} Hi Gilead I would appreciate to get your CSM in the short form as shown on several charts. Thanks Wolfsch
It's the same MADdash, just turn show group(s) to false and show column(s) to true as needed
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  • #2,817
  • Jul 22, 2019 3:02pm Jul 22, 2019 3:02pm
Hi and thanks,
but the indi does not show up on my PC, possibly due to the capacity?
  • #2,818
  • Jul 22, 2019 7:09pm Jul 22, 2019 7:09pm
The move is on
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Stop loss moved too early for GBPNZD and some EURNZD trades
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  • #2,819
  • Jul 23, 2019 9:34am Jul 23, 2019 9:34am
Good morning
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  • #2,820
  • Jul 23, 2019 8:06pm Jul 23, 2019 8:06pm
What an evening in the Asian market
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