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1H Swing Trading on EURUSD

  • #321
  • Mar 31, 2020 10:01am Mar 31, 2020 10:01am
I took one trade at the break-out, now there is a pullback at the trendline
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  • #322
  • Mar 31, 2020 10:20am Mar 31, 2020 10:20am
Quoting Mermain
I took one trade at the break-out, now there is a pullback at the trendline {image}
As long as the signal remains blue (short), you are ok.
At beginning of trends, pullbacks to SMA-96 and even beyond are normal things, that's why you have to split your entry in 3 and enter at waves zero (like you and I did) and then wait waves one and two like explained in post #276

I missed the wave 1 because I wanted to see SRSI-168 (5m) to be at, or over, 95 but it didn't happen and the the price suddenly fall.

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Simplicity is the Ultimate Sophistication.
  • #323
  • Mar 31, 2020 10:50am Mar 31, 2020 10:50am
Quoting broketrader
{quote} As long as the signal remains blue (short), you are ok. At beginning of trends, pullbacks to SMA-96 and even beyond are normal things, that's why you have to split your entry in 3 and enter at waves zero (like you and I did) and then wait waves one and two like explained in post #276 I missed the wave 1 because I wanted to see SRSI-168 (5m) to be at, or over, 95 but it didn't happen and the the price suddenly fall. {image}
Yes, that's what I did, I also entered wave one but a bit late.
  • #324
  • Mar 31, 2020 11:06am Mar 31, 2020 11:06am
Quoting Mermain
{quote} Yes, that's what I did, I also entered wave one but a bit late.
I think that we need to be careful, the two waves are too near, personally I will wait before entering again, too much noise right now thanks to the Fed...
Simplicity is the Ultimate Sophistication.
  • #325
  • Edited 1:53pm Mar 31, 2020 1:13pm | Edited 1:53pm
Finally entered that second wave one, but I'm not giving it much credit, I could be out of it very quickly if price remains above sma...

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Edit:
As I thought, I had to close that position, price wants to stay over sma and I don't want to keep it overnight.
For the first entry, I will wait bull trend signal to exit.
Simplicity is the Ultimate Sophistication.
  • #326
  • Mar 31, 2020 4:13pm Mar 31, 2020 4:13pm
Hey BT- I've been following now for a little bit of time but I can see so much potential in your strategy. I was doing some testing and I noticed something. Along with your wave theory on the HV.. There is a clear 'S' pattern on each trend change. The main theory behind is is that before a proper trend reversal there are 4 touch points--- 2 MA touches on both sides of the MA as seen in the screenshots. It's inverses when going from uptrend to downtrend vs down to up and you enter the trade on the 4th touch. We are in the middle of one now so I will test this theory. But check out the screenshots. I'd love to know what you think.
-Brian
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  • #327
  • Mar 31, 2020 11:11pm Mar 31, 2020 11:11pm
Quoting dorkstorm
Hey BT- I've been following now for a little bit of time but I can see so much potential in your strategy. I was doing some testing and I noticed something. Along with your wave theory on the HV.. There is a clear 'S' pattern on each trend change. The main theory behind is is that before a proper trend reversal there are 4 touch points--- 2 MA touches on both sides of the MA as seen in the screenshots. It's inverses when going from uptrend to downtrend vs down to up and you enter the trade on the 4th touch. We are in the middle of one now so I will...
Hi dorkstorm,

Thanks for your enthusiasm and your research.

I see two scenarios:

1. You want to use those S patterns to have a confirmation of trend change, and trade only after that, then, you are creating a derivative system from this original one, and I won't support or encourage that simply because I don't want to deviate from my original system.
Understand that for me it's important to stick to the original system and nothing else and this without trying perpetually to improve it with filters or anything that I know by experience won't work.

2. If you use the S patterns to make more accurate and progressive entries like I do with the waves, then for me it's OK, I think that everyone has to find it's own way to be comfortable with its entries and the risk they carry.

Thank you and welcome !
Simplicity is the Ultimate Sophistication.
  • #328
  • Mar 31, 2020 11:43pm Mar 31, 2020 11:43pm
Following along even if not posting regularly.

Small lots for testing.

Good luck to all!
When preparation meets oppertunity
  • #329
  • Mar 31, 2020 11:45pm Mar 31, 2020 11:45pm
Quoting GingerBoloks
Following along even if not posting regularly. Small lots for testing. Good luck to all!
Me too seriously following, so far good
  • #330
  • Apr 1, 2020 12:08am Apr 1, 2020 12:08am
Quoting GingerBoloks
Following along even if not posting regularly. Small lots for testing. Good luck to all!
That's the way to go
Grow bit by bit your confidence in the system, Good luck !

Quoting ohm
{quote} Me too seriously following, so far good
Good luck to you too !

Regarding my trading, I re-entered wave 1 that I closed yesterday, it looks like it was at the right moment...

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Simplicity is the Ultimate Sophistication.
  • #331
  • Edited 2:13am Apr 1, 2020 2:01am | Edited 2:13am
Added a long to lock my profits as we are now at the bottom of the wave, kind of insurance ..., I'm a little bit experimenting here...

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Edit: It looks like it was a false rebound, insurance sold ;-)
Simplicity is the Ultimate Sophistication.
  • #332
  • Apr 1, 2020 2:12am Apr 1, 2020 2:12am
  •  yaza
  • | Joined Sep 2010 | Status: Trader | 4 Posts | Online Now
Quoting broketrader
Added a long to lock my profits as we are now at the bottom of the wave, kind of insurance ..., I'm a little bit experimenting here... {image}
Let's see how it plays out
  • #333
  • Apr 1, 2020 2:15am Apr 1, 2020 2:15am
Quoting yaza
{quote} Let's see how it plays out
Already sold for $16 profit, it was a false rebound and I prefer that.
Simplicity is the Ultimate Sophistication.
  • #334
  • Apr 1, 2020 2:53am Apr 1, 2020 2:53am
  •  yaza
  • | Joined Sep 2010 | Status: Trader | 4 Posts | Online Now
Quoting broketrader
{quote} Already sold for $16 profit, it was a false rebound and I prefer that.
nice
  • #335
  • Apr 1, 2020 3:13am Apr 1, 2020 3:13am
I closed all trades and this is my result so far in this week, I've been aggressive little bit also bought when at dips, but results are really good, thank you BT.
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  • #336
  • Apr 1, 2020 3:21am Apr 1, 2020 3:21am
Quoting ohm
I closed all trades and this is my result so far in this week, I've been aggressive little bit also bought when at dips, but results are really good, thank you BT.{image}
Well done, congratulations ! As the old saying goes "you can't go broke taking profits"

Next time maybe instead of closing everything, keep a small fraction of the trade in the direction of the signal till the end of it, even if it is 0.01 lot, just to see how it goes, you will see, it's quite difficult but it teaches you patience !
Simplicity is the Ultimate Sophistication.
  • #337
  • Apr 1, 2020 3:30am Apr 1, 2020 3:30am
Now that we have made a new low on a closing basis we can draw our trend-line 20-10

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Simplicity is the Ultimate Sophistication.
  • #338
  • Apr 1, 2020 3:34am Apr 1, 2020 3:34am
BROKETRADER
thank you for the simple tradeable system.for 5 min chart what are the parameters you use
  • #339
  • Apr 1, 2020 3:39am Apr 1, 2020 3:39am
Quoting wealthpro
BROKETRADER thank you for the simple tradeable system.for 5 min chart what are the parameters you use
It's in post #276
Simplicity is the Ultimate Sophistication.
  • #340
  • Apr 1, 2020 4:05am Apr 1, 2020 4:05am
Quoting broketrader
{quote} It's in post #276
thank you
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