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A very simple system - trade with arrow

  • #8,121
  • Mar 2, 2021 2:44pm Mar 2, 2021 2:44pm
Quoting pips29
NU seems to be interesting, price has rejected the 200 ema several times on H4 and moved more than 100 pips ..there is +ve hidden divergence this time round and price rejected the 78.6 level of the fib. as shown on my chart..I reckon should price moves up 74 would be a nice target with higher levels above in focus..I'm not in a position yet,,let's see {image}
I tried to trade this divergence today on H4 charts. But I didn't like this move a few hours ago, and the resistance from above is pretty strong. I went out. But the price can go up. I'm just not sure.
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Trading has been and always will be, a hard way to make an easy living.
  • #8,122
  • Mar 2, 2021 3:49pm Mar 2, 2021 3:49pm
Quoting pips29
a trade I took and posted in another thread {image}
https://www.forexfactory.com/attachm...1&d=1614710889

May I know your GBPJPY stop loss please? I seems you suffered big stop at the beginning.
  • #8,123
  • Mar 2, 2021 4:05pm Mar 2, 2021 4:05pm
Quoting dbsdsun
{quote} https://www.forexfactory.com/attachm...1&d=1614710889 May I know your GBPJPY stop loss please? I seems you suffered big stop at the beginning.
It's was just below S1 and I left it unattended as I had some errands to run. Yes there was a bit of odd but is small when you trade £ pairs. The important thing is place a stop where you believe it won't be hit, no point putting 10 or 15 pips stop and get hit
the cautious seldom err....C
  • #8,124
  • Mar 2, 2021 4:37pm Mar 2, 2021 4:37pm
Quoting Boobligoom
{quote} I tried to trade this divergence today on H4 charts. But I didn't like this move a few hours ago, and the resistance from above is pretty strong. I went out. But the price can go up. I'm just not sure. {image}
are you talking about the resistance @74...I am waiting for the green light on H4, it's not there yet
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the cautious seldom err....C
  • #8,125
  • Mar 3, 2021 5:40am Mar 3, 2021 5:40am
Quoting pips29
{quote} are you talking about the resistance @74...I am waiting for the green light on H4, it's not there yet {image}
I didn't look that far). I was talking about the 0.7300 resistance area. If the price breaks, then the road will open up to 0.7400
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Trading has been and always will be, a hard way to make an easy living.
  • #8,126
  • Mar 4, 2021 3:50pm Mar 4, 2021 3:50pm
I think this is a good trade. I followed the H4. I entered the H1 convergence. a longer stop makes me more comfortable with random price fluctuations if I know where the train is going.
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Trading has been and always will be, a hard way to make an easy living.
  • #8,127
  • Mar 4, 2021 10:13pm Mar 4, 2021 10:13pm
Quoting Boobligoom
I think this is a good trade. I followed the H4. I entered the H1 convergence. a longer stop makes me more comfortable with random price fluctuations if I know where the train is going.{image}
This trade tooks 26 hours, so you can not monitor it, and sleep when the trade is open.
no, this is M15 chart, and the trade took about 5 hours.
  • #8,128
  • Mar 5, 2021 4:52am Mar 5, 2021 4:52am
NZDCHF H1, short when CCI enter -100, exit at ADR low. It seems to drop further. But I don't want the whole shark, I just want a piece of shark fin.
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  • #8,129
  • Mar 5, 2021 2:43pm Mar 5, 2021 2:43pm
In current template, !SM_ADR indicator has input --- ATRPeriod as 30. Other people use 14. It seems 14 is better.
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ATR 14 is more accurate in this case.

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  • #8,130
  • Mar 6, 2021 2:04pm Mar 6, 2021 2:04pm
Quoting dbsdsun
{quote} This trade tooks 26 hours, so you can not monitor it, and sleep when the trade is open. no, this is M15 chart, and the trade took about 5 hours.
I don't quite understand what you mean by this ... If you spend a little time, you will understand that this is H1.
Trading has been and always will be, a hard way to make an easy living.
  • #8,131
  • Mar 6, 2021 5:05pm Mar 6, 2021 5:05pm
Quoting Boobligoom
{quote} I don't quite understand what you mean by this ... If you spend a little time, you will understand that this is H1.
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and I also interested in how you monitor this trade.
  • #8,132
  • Mar 8, 2021 5:37am Mar 8, 2021 5:37am
Quoting dbsdsun
{quote} {image} and I also interested in how you monitor this trade.
Oh my God!!! You made me do it instead of you
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Trading has been and always will be, a hard way to make an easy living.
  • #8,133
  • Mar 8, 2021 4:29pm Mar 8, 2021 4:29pm
Quoting Boobligoom
{quote} Oh my God!!! You made me do it instead of you{image}
Thank you very much!
How did you monitor this trade? or just set to break even and let it go.
  • #8,134
  • Mar 9, 2021 4:47am Mar 9, 2021 4:47am
Quoting dbsdsun
{quote} Thank you very much! How did you monitor this trade? or just set to break even and let it go.
Yes. I set my target at the previous low (slightly higher). The stop has been set to BE. and just let him go.
Trading has been and always will be, a hard way to make an easy living.
  • #8,135
  • Edited 11:30am Apr 1, 2021 10:21am | Edited 11:30am
SL at BE , will it go lower? SL +10
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  • #8,136
  • Apr 1, 2021 11:33am Apr 1, 2021 11:33am
Quoting Giedrius
SL at BE , will it go lower? SL +10 {image}
1.2550 is the line in the sand
the cautious seldom err....C
  • #8,137
  • Apr 1, 2021 11:51am Apr 1, 2021 11:51am
Quoting pips29
{quote} 1.2550 is the line in the sand
you are dead right pips, I got 10pips!. A bit better as nothing
  • #8,138
  • Apr 4, 2021 1:07am Apr 4, 2021 1:07am
EURUSE stoped due to high volatility
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  • #8,139
  • May 11, 2021 8:13am May 11, 2021 8:13am
-17pips, before taking the trade I waited until 4hr. candle closed under 200ema, away from daily pivot,
thought will give more weight to go down, but did't work anyway. pips29 would you mind to break this trade for me please. Thanks!
If not no worries
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  • #8,140
  • May 11, 2021 10:09am May 11, 2021 10:09am
Quoting Giedrius
-17pips, before taking the trade I waited until 4hr. candle closed under 200ema, away from daily pivot, thought will give more weight to go down, but did't work anyway. pips29 would you mind to break this trade for me please. Thanks! If not no worries {image}
Giedrius, p.a has been difficult to read and choppy since the start of this week's trading..where you have taken the trade is not a high probability trade..when the market is trending you won't find a candle closing above the 34 ema after a 10/34 ema cross. In this case there was a candle close above the 34 ema just 4 candles earlier when you entered..playing the trend means having a trend with a strong momentum bias and when it happens the 34 ema will not be violated..Hindsight is easy ofc
the cautious seldom err....C
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