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Monthly Profit - Daily Trading using SMA

  • #11,781
  • Mar 12, 2021 1:28am Mar 12, 2021 1:28am
Quoting Paj
{image} Some good setups this week... bit early on USDJPY.
After the signal was confirmed on the daily, the weekly looks a bit like EURCHF and it will be interesting if the pin bar breaking Bollinger upper band is confirmed after the weekly close.
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I used to be indecisive but now I'm not so sure...
  • #11,782
  • Mar 12, 2021 3:05am Mar 12, 2021 3:05am
Quoting Filipo1
EURCHF sent a signal. The pair is retracing after reaching an important support/resistance visible on the weekly chart. On the daily the pair is back from overbought territory with a bearish divergence on RSI. {image} {image}
It may turn sour...
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I used to be indecisive but now I'm not so sure...
  • #11,783
  • Mar 15, 2021 5:17am Mar 15, 2021 5:17am
Quoting Filipo1
{quote} It may turn sour... {image}
Top down analysis across timeframes helps to gain vision.
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I used to be indecisive but now I'm not so sure...
  • #11,784
  • Edited 5:56am Mar 17, 2021 5:41am | Edited 5:56am
Quoting Filipo1
{quote} After the signal was confirmed on the daily, the weekly looks a bit like EURCHF and it will be interesting if the pin bar breaking Bollinger upper band is confirmed after the weekly close. {image}
We should always feel free to explore other indicators in search for a better perception of markets.
If I use this system mainly to screen potential signals I like to check what Ichimoku Kinko Hyo has to say.
And for USDCHF all timeframes point to bearish continuation.
Nevertheless FOMC should incite to patient prudence.
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I used to be indecisive but now I'm not so sure...
  • #11,785
  • Mar 19, 2021 2:27am Mar 19, 2021 2:27am
SP500 sent a signal with big bearish engulfing candlestick covering last 4 sessions and with an interesting divergence on MACD and RSI.
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I used to be indecisive but now I'm not so sure...
  • #11,786
  • Mar 20, 2021 3:28am Mar 20, 2021 3:28am
Quoting Filipo1
SP500 sent a signal with big bearish engulfing candlestick covering last 4 sessions and with an interesting divergence on MACD and RSI. {image}
I would have preferred price action to close below the Bollinger middle band in confluence with 38.2 Fibonacci retracement and below Tenkan-sen on Ichimoku where the Lagging span was unable to cross below past candlesticks. Long wick coupled with RSI remaining above 50 and lack of bearish crossover on MACD are neither really engaging. We’ll see.
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I used to be indecisive but now I'm not so sure...
  • #11,787
  • Mar 23, 2021 8:28am Mar 23, 2021 8:28am
Quoting Froggy
{quote} G'day, I have read most of the pages but either missed or the SMA 5 setting are missing. Could anyone help? thanks.
Hello
Sma 5,0 is the one being used.
All the best.
Oddbjørg
All the best to all of you. But don't follow me. I am a learner.
  • #11,788
  • Edited 5:30am Mar 26, 2021 4:33am | Edited 5:30am
Quoting Filipo1
{quote} It may turn sour... {image}
EURCHF trade is still alive according to the rules of this thread as stop-loss level has not been hit: high/low of the signalling candlestick +/-15 pips, represented with the golden rectangle in the chart below.
After the ranging rollercoaster seen on all CHF pairs recently it’s interesting to see how RSI is helping to filter out potential continuation patterns. Both March 16 and 22 bearish candlesticks closing well below Bollinger middle band have proven unreliable price action as RSI kept above 50. Now we just got an inverse signal but the rules defined on post #1 clearly discourage entering in position when the market is ranging sideways.

As we are getting close to month end a glimpse on the monthly Ichimoku chart is showing that the pair is retracing after hitting the former SSB line (upper cloud limit) extension.
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I used to be indecisive but now I'm not so sure...
  • #11,789
  • Mar 27, 2021 11:34am Mar 27, 2021 11:34am
Quoting Filipo1
{quote} We should always feel free to explore other indicators in search for a better perception of markets. If I use this system mainly to screen potential signals I like to check what Ichimoku Kinko Hyo has to say. And for USDCHF all timeframes point to bearish continuation. Nevertheless FOMC should incite to patient prudence. {image} {image} {image} {image}
So USDCHF finally made it’s way to 0.9390 supported by the 10Y Treasury yield. Important to note that this level represents a major support/resistance at 50% retracement from the bearish trend seen between June 2010 and August 2011 which matches on Ichimoku monthly the extension of the SSB level between August 2015 and October 2016. Bollinger middle band stands just above adding more resistance and neither RSI nor MACD are in bullish territory. So bullish continuation appears quite uncertain. Now looking at the daily chart we have two important signals: the pin bar breaking the upper BB coupled with a bearish divergence on RSI. I will therefore enter short at the opening adding another position on SMA5 confirmation.

All the best.
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I used to be indecisive but now I'm not so sure...
  • #11,790
  • Mar 28, 2021 1:11am Mar 28, 2021 1:11am
Bearish continuation likely for GBPUSD.
The pair just re-tested support/resistance line after breakout in reaction to contact with long term bullish trend line matching the weekly Bollinger middle band.
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I used to be indecisive but now I'm not so sure...
  • #11,791
  • Edited 3:56am Mar 28, 2021 3:44am | Edited 3:56am
Bearish signal sent by USDMXN.
SMA5 pointing down just below Bollinger middle band after Thursday’s bearish engulfing candlestick. Only challenge: breaking through the support/resistance line at last closing level.
Out of this thread’s rules RSI below 50 on daily and weekly charts, and some interesting trend lines at play across the timeframes.
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I used to be indecisive but now I'm not so sure...
  • #11,792
  • Mar 28, 2021 4:34am Mar 28, 2021 4:34am
Quoting Filipo1
{quote} I would have preferred price action to close below the Bollinger middle band in confluence with 38.2 Fibonacci retracement and below Tenkan-sen on Ichimoku where the Lagging span was unable to cross below past candlesticks. Long wick coupled with RSI remaining above 50 and lack of bearish crossover on MACD are neither really engaging. We’ll see. {image} {image}
Follow up on SP500. My doubts finally materialised with price action unable to close below Bollinger middle band after testing KS on Ichimoku. There again RSI did filter it correctly remaining in bullish territory above 50.
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I used to be indecisive but now I'm not so sure...
  • #11,793
  • Mar 30, 2021 2:42am Mar 30, 2021 2:42am
Hello everyone on this wonderful thread! Does someone know which is the correct answer to this question?
You enter into a long (buy) CFD position with a total notional position value of $6,000 and a $300 margin requirement. You have an account balance of $10,000. What is the maximum amount that can be lost on this trade?
possible answers - 0, 2000, 6000, 10000

  • #11,794
  • Edited 9:49am Mar 30, 2021 3:17am | Edited 9:49am
Quoting Filipo1
Bearish continuation likely for GBPUSD. The pair just re-tested support/resistance line after breakout in reaction to contact with long term bullish trend line matching the weekly Bollinger middle band. {image} {image}
Even better after rejection from Bollinger middle band.

Quoting Filipo1
{quote} So USDCHF finally made it’s way to 0.9390 supported by the 10Y Treasury yield. Important to note that this level represents a major support/resistance at 50% retracement from the bearish trend seen between June 2010 and August 2011 which matches on Ichimoku monthly the extension of the SSB level between August 2015 and October 2016. Bollinger middle band stands just above adding more resistance and neither RSI nor MACD are in bullish territory. So bullish continuation appears quite uncertain. Now looking at the daily chart we have two important...
So this USDCHF failed to get confirmed by this strategy. No signal.
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I used to be indecisive but now I'm not so sure...
  • #11,795
  • Apr 1, 2021 6:43am Apr 1, 2021 6:43am
Back to basics with EURJPY.
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I used to be indecisive but now I'm not so sure...
  • #11,796
  • Apr 1, 2021 11:08am Apr 1, 2021 11:08am
Quoting Filipo1
{quote} So USDCHF finally made it’s way to 0.9390 supported by the 10Y Treasury yield. Important to note that this level represents a major support/resistance at 50% retracement from the bearish trend seen between June 2010 and August 2011 which matches on Ichimoku monthly the extension of the SSB level between August 2015 and October 2016. Bollinger middle band stands just above adding more resistance and neither RSI nor MACD are in bullish territory. So bullish continuation appears quite uncertain. Now looking at the daily chart we have two important...
The USDCHF saga is not over yet.
The pair proved unable to rise up to the flat Kijun Sen on the monthly Ichimoku chart matching with 61.8 retracement of the big memorable drop that occurred on Jan 15 2015.
And if you look at the Dollar Index it’s currently struggling with the rising trendline now turned into resistance.
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I used to be indecisive but now I'm not so sure...
  • #11,797
  • Edited 4:08pm Apr 1, 2021 3:50pm | Edited 4:08pm
Signal on JP225 , first challenge shown on Ichimoku with Chikou Span both on Daily and H4.
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I used to be indecisive but now I'm not so sure...
  • #11,798
  • Apr 1, 2021 4:06pm Apr 1, 2021 4:06pm
Careful with this signal on NZDCHF.
First it might be rejected from bearish Bollinger middle band and so far the pair has been unable to break through SSB on Ichimoku H4.
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I used to be indecisive but now I'm not so sure...
  • #11,799
  • Apr 1, 2021 4:32pm Apr 1, 2021 4:32pm
2 days old signal but with safer perspective on NZDJPY.
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I used to be indecisive but now I'm not so sure...
  • #11,800
  • Edited 5:43pm Apr 1, 2021 5:29pm | Edited 5:43pm
Quoting Filipo1
Bearish continuation likely for GBPUSD. The pair just re-tested support/resistance line after breakout in reaction to contact with long term bullish trend line matching the weekly Bollinger middle band. {image} {image}
It has now sent a bullish signal, will price action break through Bollinger middle band? NFP tomorrow might give the answer.
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I used to be indecisive but now I'm not so sure...
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