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QB's Reversal Method

  • #101
  • Mar 30, 2020 7:36am Mar 30, 2020 7:36am
Quoting FxQB15
Good morning for west coast.. I got up real early to workout (home) a bit to also watch the open. Just got triggered short J/U, this a PB trade setup from hourly looking for JPY to strengthen to a full on reversal and possible trend, otherwise i be happy with a quick gain and looking for IF and When next leg. Trade well. {image}
Great trade! I think we could have also been triggered a few hours back after break of the P candle, right?
  • #102
  • Edited 9:25am Mar 30, 2020 9:02am | Edited 9:25am
Quoting Olarion1975
{quote} Great trade! I think we could have also been triggered a few hours back after break of the P candle, right?
Absolutely correct my man, valid signal. The reason I was not trigger then it's simply bcz I was sleep, lol

Thank you.
Trade well.
Nobody ever made a dime by panicking. Jim C
  • #103
  • Mar 30, 2020 9:15am Mar 30, 2020 9:15am
One of the great luxury European trades have over U.S traders is the ability to work the London session. As we all know FX market is a Europe driven market more so than u.s. So, for us west coaster is even worse the whole London session is during our sleep time. One of the biggest reason I trade the way I do it's due to this reason and still effects me to miss my pullback trades when the entry is passed and well into profit by the time I am up.
.. just sharing not complaining, I get more than my fair and share of position dose.

It's all good.

Trade well.
Nobody ever made a dime by panicking. Jim C
  • #104
  • Edited 9:47am Mar 30, 2020 9:34am | Edited 9:47am
I usually make a quick analysis for myself on each and every pair as soon as I see a new sign of direction, as well as assessing the current state of those particular currencies.
There is not a whole lot of interest here which is understandable to me due to No stop approach usually not popular, so I have held back on that bcz it could be a lot of work when market is volatile many potential signals pile up in sudden.
anyhow for a few that I see here more often I will do the e/u in the next post.

Trade well.

ps) I do it after today's daily candle close, you never know with now days, things could change in a dime, lol.
Let me know overall if this interests you and I make time to do more or maybe all the major pairs. This does not drive my position taking but it don't hurt to have such info in back of my head for overall market condition... When I have a signal I trade it, at times I hold back based on such info and it has served me good.
Anyways I do e/u after NY close in a few hours.
Nobody ever made a dime by panicking. Jim C
  • #105
  • Mar 30, 2020 3:07pm Mar 30, 2020 3:07pm
EUR/USD
The bearish candle close it's a weak one, not an engulf, and dollar not strong across the board so I do not look for a entry nor make any changes on my ongoing trades.
Overall looks like a lifeless PA for now and so far in the first trading day of the week.
So with e/u I sit on my hands.


Trade well.
Attached Image (click to enlarge)
Click to Enlarge Name: x65.png Size: 33 KB
Nobody ever made a dime by panicking. Jim C
  • #106
  • Mar 31, 2020 5:03pm Mar 31, 2020 5:03pm
No Stops trading works, if…

1) Not trading 4hr TF and plus
2) Not Correlated all in one direction
3) Not over leveraged
4) Not having an Exit plan
5) Not having a high winning percentage
6) Not banking wins constantly enough.
7) Not banking extended wins... to offset occasional large losses
8) Not watching your portfolios health at all time.
9) … And last but not least, if you know WTF you’re doing.

I trade without stops for years now, but anytime I don’t do the above at a high level I can get hurt severely and when I do execute them at high level I do extremely well, point blank.


Trade well.
Nobody ever made a dime by panicking. Jim C
  • #107
  • Apr 1, 2020 3:10pm Apr 1, 2020 3:10pm
I normally do not put too much weight on any economic data news even NFP.. but I think this one coming up is not a joke it would have a significant affect. If they report it correctly millions of jobs have been lost, 50mil+ already have claimed unemployment. What you guys think?
I got some heavy trades on EUR and USD..
Nobody ever made a dime by panicking. Jim C
  • #108
  • Apr 1, 2020 3:30pm Apr 1, 2020 3:30pm
Quoting FxQB15
I normally do not put too much weight on any economic data news even NFP.. but I think this one coming up is not a joke it would have a significant affect. If they report it correctly millions of jobs have been lost, 50mil+ already have claimed unemployment. What you guys think? I got some heavy trades on EUR and USD..
I've closed all my trades when they reached 20EMA, all in profit except the usdtry....bad days for swing trading against the long term trade...lets see how the NFP plays this week.
  • #109
  • Apr 1, 2020 3:32pm Apr 1, 2020 3:32pm
Quoting Okydok
{quote} I've closed all my trades when they reached 20EMA, all in profit except the usdtry....bad days for swing trading against the long term trade...lets see how the NFP plays this week.
NFP just hasn't been the same for a while now. I know what your saying about this one could be different. I'm just not feeling it. I have to believe that most everything has been priced in already. But like you already know, anything can happen!
  • #110
  • Edited 4:56pm Apr 1, 2020 4:37pm | Edited 4:56pm
Thanks for both inputs.. lets see what happens. I am not closing anything but I will not add any new trades... there are no decent signals to take action on anyways, it's a pretty dead market awaiting NFP perhaps.

ps) I ain't ever gun shy but honestly I am concerned about this new sets of job numbers coming out... with that said I think it will favor my trades mostly if dollar weakens which it should, but who the hell knows, lol
Nobody ever made a dime by panicking. Jim C
  • #111
  • Apr 2, 2020 6:32pm Apr 2, 2020 6:32pm
Quoting FxQB15
I took two trades yesterday, pretty textbooks. cad/jpy long eur/cad short {image} {image}
I just closed these two trades after half month of going up and down and nowhere. Part of the reason I closed them I want to be lighter going into NFP as I was heavy with 3 trades banking on CAD to get strong.

Trade well.
Nobody ever made a dime by panicking. Jim C
  • #112
  • Apr 9, 2020 5:00pm Apr 9, 2020 5:00pm
I opened these two trades yesterday...
Eur/usd Long...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDDaily22222.png Size: 48 KB
Click to Enlarge Name: USDCHFDaily.png Size: 43 KB
Nobody ever made a dime by panicking. Jim C
  • #113
  • Apr 9, 2020 5:42pm Apr 9, 2020 5:42pm
I must admit nobody has played the E/U worst than I have been through the crises, lol... I did something that I never do and that is to disregard my signal and go with prediction. My sentiment on Dollar was to get weak and weaker due to pandemic, situation and I was wrong. Not that dollar got stronger but it played a yo yo in a 700 hundred range by putting great up and down moves. However the last long trade I got is in profit doing well and if it runs for 150pips or so I recover well, but if it runs for 300 I should do very well... remains to be seen.
This is a great lesson to understand for good to never ever deviate from your trading plan even in such great magnitude of crises.
Anyways just felt like sharing that.



Trade well.
Nobody ever made a dime by panicking. Jim C
  • #114
  • Apr 17, 2020 10:46am Apr 17, 2020 10:46am
bump.
  • #115
  • May 5, 2020 11:45pm May 5, 2020 11:45pm
I have not posted here for a while but I will from now on.
I have a few live trades going in the chart below is my short trade on EUR/USD. I took this based on engulf, but I did have a nice failure off the DT to take action on one candle prior. I typically look for 100 pips which in this case should be right around the support line below but I will as always wait to see if it crushes through that if not then I bank.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily.png Size: 21 KB
Nobody ever made a dime by panicking. Jim C
  • #116
  • May 5, 2020 11:51pm May 5, 2020 11:51pm
USD/CAD short... I took this based on P-candle as I reco the Doji as the one here. I look for the drop-down to support line about 180pips.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADDaily.png Size: 22 KB
Nobody ever made a dime by panicking. Jim C
  • #117
  • May 5, 2020 11:55pm May 5, 2020 11:55pm
EUR/CAD short.. this one not a textbook candle formation but it was a nice looking inside bar rejecting off DB, worth taking a shot and its working out already. I highly expect this one to drop down to support which is good for close to 300 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: EURCADDaily.png Size: 23 KB
Nobody ever made a dime by panicking. Jim C
  • #118
  • May 6, 2020 12:04am May 6, 2020 12:04am
NZD/CHF long.. P-Candle is the Doji here, looking good for now but it could reverse before heading to marked Res, but hopefully, it shoots up even through damn res for mega gain, it's lined up with the trend which I never put too much weight on that.
I am short on GBP/USD as well.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDCHFDaily.png Size: 21 KB
Nobody ever made a dime by panicking. Jim C
  • #119
  • May 6, 2020 12:20am May 6, 2020 12:20am
Guys I have decided to trade very aggressively from here on till the end of the year especially my P-Candle formation. If you follow me here and you look to take action on that formation you must know I trade without stops and I owe any success that I have due to that fact. If you trade it with stops the results could vary.
Nobody ever made a dime by panicking. Jim C
  • #120
  • May 6, 2020 8:18am May 6, 2020 8:18am
Quoting FxQB15
EUR/CAD short.. this one not a textbook candle formation but it was a nice looking inside bar rejecting off DB, worth taking a shot and its working out already. I highly expect this one to drop down to support which is good for close to 300 pips. {image}
Closed for +70... it did go to about +130 but yesterday I decided to keep it for the possible test of the low, looks like it won't do that before messing around.
Nobody ever made a dime by panicking. Jim C
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