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Roadmap - A Way To Read Markets

  • Post #481
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  • Edited at 2:19am Apr 24, 2020 1:53am | Edited at 2:19am
EU short. Closed half.

EDIT: Closed after it crossed below yLow.
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gold.target at dayHi level
channel break on oil
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What if the MTF all green and the rsi is about 70++, but the channel still below the SMA200 (As the screenshot).

Was thinking that:
Should I go long immediately? or
go long right after both EMA8 go beyond the SMA200? or
go long after the channel beyond SMA200, and wait for the bar to touch the bottom band?

Thank in advance..
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Quoting tradeChaser
I am loving how this is developing! is there anyway we can create a poll to see where this is being applied? I am seeing a large majority of index trading, and I am curious if that is the best fit or people following suit. awesome stuff!
It probably depends upon what people are used to trading. Some seem to favour currencies and others prefer indices.
Quoting MarkStep
{quote} It is either going to be away from the mean or back to the mean. Which has the best seat in the house?
That's trading huh Price will either go up or down haha.
Quoting Baymax07
EU short. Closed half. EDIT: Closed after it crossed below yLow. {image} {image}
Fantastic. Taking half off and then closing at logical place.
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GU tp. 20pips
has anyone sold EURCAD? If so why? as the EURCAD has reached daily low. I was debating about selling but decided not to as price was far from the 200 SMA.

Any info on why you shorted it would be useful.

Thanks
Quoting optitrader
has anyone sold EURCAD? If so why? as the EURCAD has reached daily low. I was debating about selling but decided not to as price was far from the 200 SMA. Any info on why you shorted it would be useful. Thanks
i would probably sell it if price goes a lil higher and reject from yesterday low. giving myself a tight SL to go for adr low.
Quoting optitrader
has anyone sold EURCAD? If so why? as the EURCAD has reached daily low. I was debating about selling but decided not to as price was far from the 200 SMA. Any info on why you shorted it would be useful. Thanks
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Hi,

I wasn't in it but I've marked the ideal entry point in orange. It might next re-test the previous day low to check if it's now resistance. If that holds, we could see a bigger drop.
could be channel rejection on audcad and nzdcad on 5mins
Quoting LauraT
{quote} {image} Hi, I wasn't in it but I've marked the ideal entry point in orange. It might next re-test the previous day low to check if it's now resistance. If that holds, we could see a bigger drop.
I'll keep an eye out for that
Nice 45 pip runner on EURJPY this morning. Entry and exit marked with ticks.
Thanks Laura
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Quoting ankur_75
Nice 45 pip runner on EURJPY this morning. Entry and exit marked with ticks. Thanks Laura {image}
That was such a nice trade.

Ten out of Ten!!
"Simplicity is the Ultimate Sophistication" LDV
Quoting ankur_75
Nice 45 pip runner on EURJPY this morning. Entry and exit marked with ticks. Thanks Laura {image}
Great trade
Quick scalp to Previous Day Low before London open..
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Quoting Piscis
Quick scalp to Previous Day Low before London open.. {image}
Well done

It's a logical exit point but consider taking half off and letting price action dictate when you close the remainder. The momentum was strong so there were more pips on the table.
stopped out of gbpnzd
Quoting LauraT
{quote} Well done It's a logical exit point but consider taking half off and letting price action dictate when you close the remainder. The momentum was strong so there were more pips on the table.
Thanks Laura, I just followed your advice on GBPUSD and took half off... Will post later.
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