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A very simple system - trade with arrow

  • #6,621
  • Feb 6, 2020 4:24am Feb 6, 2020 4:24am
sell gbpjpy
when I entered the curency strength indicator showed gbp weakest and jpy strongest
tp set at h4 support
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15.png Size: 48 KB
  • #6,622
  • Feb 6, 2020 4:33am Feb 6, 2020 4:33am
Quoting forexdg
today I lost on usdjpy I buy it and I closed when red bar closed the other side of shadow .....
I would't enter buy this pair at top at that time,look at 1H chart. BTW I just entered sell position on UJ for 5-10 pips a hopefully will close it before news come.
Whether you think you can, or you think you can't,you're right. H.F.
  • #6,623
  • Feb 6, 2020 4:40am Feb 6, 2020 4:40am
I took this trade before going to bed..it's a slowing pair and so I felt safe leaving it while I sleep..it was a rejection of the pivot and I waited for bearishness to continue by waiting for next few candles..worked out well
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDM5.png Size: 69 KB
the cautious seldom err....C
  • #6,624
  • Feb 6, 2020 4:51am Feb 6, 2020 4:51am
Quoting pips29
I took this trade before going to bed..it's a slowing pair and so I felt safe leaving it while I sleep..it was a rejection of the pivot and I waited for bearishness to continue by waiting for next few candles..worked out well
Best thing on Forex,making money while you sleep
Whether you think you can, or you think you can't,you're right. H.F.
  • #6,625
  • Feb 6, 2020 4:55am Feb 6, 2020 4:55am
Quoting Pent56
{quote} Try this (you will also find these indicators in the paperclip above): {file}
Thanks for helping out..I have not seen you around but a good morning to you and post some charts so that we can learn together..I'm actually getting tired of posting as I have been posting a lot about this method I use..I don't know what else I can post
the cautious seldom err....C
  • #6,626
  • Feb 6, 2020 4:59am Feb 6, 2020 4:59am
Quoting Simply-Me
{quote} I would't enter buy this pair at top at that time,look at 1H chart. BTW I just entered sell position on UJ for 5-10 pips a hopefully will close it before news come.
you want to say its the day top and its not making another high today? or you want to say retracement was too small and its very near of recent high?
I think its the second and I should search of deeper retracement with more space until the recent high
  • #6,627
  • Feb 6, 2020 5:04am Feb 6, 2020 5:04am
I taken again eurnzd buy but on m5 this time because m15 was still in retrace but m5 did a doublebottom
chart its m5
Attached Image (click to enlarge)
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  • #6,628
  • Feb 6, 2020 5:06am Feb 6, 2020 5:06am
Quoting pips29
{quote} Thanks for helping out..I have not seen you around but a good morning to you and post some charts so that we can learn together..I'm actually getting tired of posting as I have been posting a lot about this method I use..I don't know what else I can post
please dont stop post pips29
I learning a lot
at least post a few trades not necessary all
  • #6,629
  • Feb 6, 2020 5:15am Feb 6, 2020 5:15am
Quoting pips29
{quote} Thanks for helping out..I have not seen you around but a good morning to you and post some charts so that we can learn together..I'm actually getting tired of posting as I have been posting a lot about this method I use..I don't know what else I can post
Good morning Pips29,
I am a lurker! I find your posts very interesting and your consistency is always an inspiration. I am sure it does become tiring posting continuously but it is much appreciated. Yes I will look to post some charts (I do have weekly pivots on my charts - I hope that is ok.)

Quoting forexdg
{quote} you want to say its the day top and its not making another high today? or you want to say retracement was too small and its very near of recent high? I think its the second and I should search of deeper retracement with more space until the recent high
I am pretty sure what he is referring to is basic Market Structure. Very important to get an understanding of it. Have a look at the attached. It gives a good overview of what Market Structure is.
If you look at the H1 USD/JPY you will see that it has been in an uptrend for a while. Will that uptrend continue? Possibly but at some point it will reach exhaustion at which point long orders will start to be closed and short orders start to be opened. This is how the market works. Don't get too bogged down with all this information but it is good to be aware of these things.

Attached Image (click to enlarge)
Click to Enlarge Name: understanding-market-structure.jpg Size: 483 KB
  • #6,630
  • Feb 6, 2020 5:32am Feb 6, 2020 5:32am
Quoting forexdg
{quote} you want to say its the day top and its not making another high today? or you want to say retracement was too small and its very near of recent high? I think its the second and I should search of deeper retracement with more space until the recent high
I'n not sure about day top,but when I saw those last 4 candles on 1H TF,I have decided wait with buy. I'm trying jump on ways instead of selling tops or buying bottoms,because you never can be sure about them a we are technically scalping.And there will be news on us side in about 2 hours a they can push this pair in any direction.
Whether you think you can, or you think you can't,you're right. H.F.
  • #6,631
  • Feb 6, 2020 6:11am Feb 6, 2020 6:11am
Quoting Pent56
{quote} Good morning Pips29, I am a lurker! I find your posts very interesting and your consistency is always an inspiration. I am sure it does become tiring posting continuously but it is much appreciated. Yes I will look to post some charts (I do have weekly pivots on my charts - I hope that is ok.) {quote} I am pretty sure what he is referring to is basic Market Structure. Very important to get an understanding of it. Have a look at the attached. It gives a good overview of what Market Structure is. If you look at the H1 USD/JPY you will see...
thank you pent56
it was lost trade again
Quoting Simply-Me
{quote} I'n not sure about day top,but when I saw those last 4 candles on 1H TF,I have decided wait with buy. I'm trying jump on ways instead of selling tops or buying bottoms,because you never can be sure about them a we are technically scalping.And there will be news on us side in about 2 hours a they can push this pair in any direction.
understood
you see bars pause to be risky
  • #6,632
  • Feb 6, 2020 6:33am Feb 6, 2020 6:33am
Quoting forexdg
{quote} thank you pent56 it was lost trade again {quote} understood you see bars pause to be risky
As you can see even my sell wasn't the best idea.I was hoping for quick scalp and forex gods decided otherwise
Know I'm stuck with few pips up and down and probably have to wait for news.
Whether you think you can, or you think you can't,you're right. H.F.
  • #6,633
  • Feb 6, 2020 6:54am Feb 6, 2020 6:54am
Quoting Pent56
{quote} Good morning Pips29, I am a lurker! I find your posts very interesting and your consistency is always an inspiration. I am sure it does become tiring posting continuously but it is much appreciated. Yes I will look to post some charts (I do have weekly pivots on my charts - I hope that is ok.) {quote} I am pretty sure what he is referring to is basic Market Structure. Very important to get an understanding of it. Have a look at the attached. It gives a good overview of what Market Structure is. If you look at the H1 USD/JPY you will see...
Yes, please go ahead posting charts. I don't mind if you have the weekly fibo. on as Lisat also has that on her charts. I use the daily solely because we are trading the lower tf and looking at the daily pivots make more sense as it gets updated every day..if you are not trading intraday perhaps the weekly might be more suitable..I am easy and always keen to learn more...and the market structure chart speaks more than a thousand words..hope you guys get to study it indepth..tbh I prefer to see the distribution slightly higher than shown (slightly below the top and not too far down)
the cautious seldom err....C
  • #6,634
  • Feb 6, 2020 7:04am Feb 6, 2020 7:04am
I took this sell not based on indicators alone..I believe in price action and when I see something I will trade it even though the indicators show otherwise...here's a trade where there was a rejection at previous high and a pinbar formed (shooting star)...after several candles printed rejection at the R1 I decided to proceed with my sell and looked for an entry...a smaller size entry with 2/3 taken off EDit: decided to be greedy and lower my target for the balance as my trade is less than 0 risk
Attached Image (click to enlarge)
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the cautious seldom err....C
  • #6,635
  • Feb 6, 2020 7:11am Feb 6, 2020 7:11am
took the EG earlier, almost stopped out, but it worked
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  • #6,636
  • Feb 6, 2020 7:18am Feb 6, 2020 7:18am
Had some Lossed in UJ and US500, but got some back on Gold.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: US500 Closed.png Size: 44 KB
Click to Enlarge Name: UJ Closed.png Size: 61 KB
Click to Enlarge Name: Gold Closed.png Size: 59 KB
  • #6,637
  • Feb 6, 2020 9:11am Feb 6, 2020 9:11am
I closed gbpjpy breakeven
the day is lost
I lose everytime with every strategy I put hands on
I dont know why but Im afraid I never can trade with succes in this business
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15.png Size: 96 KB
  • #6,638
  • Feb 6, 2020 9:27am Feb 6, 2020 9:27am
Well GJ can be tricky, lost on that one today as well, if that makes you feel better and i "forgot" to sell when i should, which was the one with the pips.....That happens on M1 because u really have to be glued to the screen. not advisable.

Waited a long time for AU and NU, and got some pips back on those

gotta go away for a week will not post much then. But will be back for sure. Keep up the spirit Forexdg
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GJ CLosed.png Size: 60 KB
Click to Enlarge Name: Closed AU.png Size: 119 KB
  • #6,639
  • Feb 6, 2020 9:34am Feb 6, 2020 9:34am
got an aussie short going...taken 60% off and trade is protected at +6
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM5.png Size: 69 KB
the cautious seldom err....C
  • #6,640
  • Feb 6, 2020 9:37am Feb 6, 2020 9:37am
a kiwiyen short
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYM5.png Size: 67 KB
the cautious seldom err....C
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