Guppy's Multi-Moving Average (GMMA)
The trading year starts in earnest tomorrow. My focus will be on pinch trades and pullback trades. Pinch trades: I am watching a number of pairs (USDCAD, NZDCHF, NZDJPY, AUDUSD, AUDCHF and EURUSD). Some are still in the consolidation phase and the pinch is still to come (e.g. NZDCHF), while others (e.g AUDUSD) are already through the pinch phase, the required conditions seem to have been met so it's ready for a sell stop order. But on this one the breakout move was quite explosive so the pullback might continue upwards for a while longer. Also,...
{quote} Here's what my not-quite-perfect AUDUSD trade possibility looks like. None of the usual components of a good "pinch" trade setup are quite in place, or in the right place. Not much of a consolidation phase, the pinch isn't tight, price exploded down out of the pinch zone, leading to that big pullback. Nevertheless, there is a series of lower highs and lower lows, so the marked possible entry point *should* work. {image}
{quote} Looking promising {image}
Here's another opportunity (EURCHF), just not sure what's going to happen next All of the MAs and current price are packed into a very small area - a strong pinch, in other words. If my extensive backtesting over the end-of-year period is accurate, there should be a good breakout, but I'm hoping for a longer period of sideways movement, which seems to indicate a more powerful breakout. I hope it doesn't break downward because price is very low now - see monthly chart. {image}{image}
hi spudfan. just wanted to share my ongoing trade i took on monday.{image}{image} classical breakdown pullback continuation pattern, 50 % fib retracement, clear entry point. the color ma and rsi make it very easy visual identification of trend and entry as all out of money options expire worthless i expect to make a descent profit. also this is a passive trade. no need to monitor the screen. hope this helps.
