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Daily Chart w/ 10sma

  • #1,381
  • Jan 3, 2022 4:18am Jan 3, 2022 4:18am
Happy New Year all! Let's do some awesome trading in 2022!
Please ask questions and share your experiences with us all!
  • #1,382
  • Jan 4, 2022 8:41am Jan 4, 2022 8:41am
Quoting bkg102665
I pulled the trigger on this eur/usd trade yesterday so we will see how it progresses! Did anyone else take any trades based on the 10sma? {image}
This trade is not wanting to cooperate with my way of thinking. The trade has a pretty tight stop loss on it so I will let it run. It will probably get taken out especially with USA Fed minutes coming out tomorrow. I will stay out of any trades at this point until after the fed minutes tomorrow.
Please ask questions and share your experiences with us all!
  • #1,383
  • Jan 5, 2022 5:48am Jan 5, 2022 5:48am
Good morning everyone. I believe I will sit on my hands until the Fed minutes are released at 2 p.m. today. I believe price will pop down and then head back up for the next few days. We will see how it plays out.........stay tuned!

What are your thoughts or concerns?
Please ask questions and share your experiences with us all!
  • #1,384
  • Jan 6, 2022 5:43pm Jan 6, 2022 5:43pm
Quoting bkg102665
Happy New Year all! Let's do some awesome trading in 2022!

BKG, great to see you back on your forum! I humbly think the adding of the MACD is an excellent addition. Things are still pretty straightforward but with a very useful second piece of information (filter).

I hope your return may help those like me who check in occasionally to get back on-board with the 10 SMA. It is a net winning system.

FS
  • #1,385
  • Jan 7, 2022 3:38am Jan 7, 2022 3:38am
Quoting Forest-Sea
{quote} BKG, great to see you back on your forum! I humbly think the adding of the MACD is an excellent addition. Things are still pretty straightforward but with a very useful second piece of information (filter). I hope your return may help those like me who check in occasionally to get back on-board with the 10 SMA. It is a net winning system. FS
Good morning and glad to see you hanging around here. Please subscribe to the thread and add information and ask questions!
Please ask questions and share your experiences with us all!
  • #1,386
  • Jan 7, 2022 7:49am Jan 7, 2022 7:49am
It has certainly been an up and down morning! Don't let the market movement scare you out of a trade as long as what got you in the trade is still in place. I like trading the daily candles because it takes all the up and downs of the day out of play. I will only enter a trade on the close of a daily candle and will only get out based what a daily candle tells me. If I am in a short and my daily candles continues to close below the 10sma and the histogram is still in the negative I will ride it until my tp area.
Please ask questions and share your experiences with us all!
  • #1,387
  • Jan 7, 2022 9:02am Jan 7, 2022 9:02am
Quoting bkg102665
I like trading the daily candles because it takes all the up and downs of the day out of play. I will only enter a trade on the close of a daily candle and will only get out based what a daily candle tells me. If I am in a short and my daily candles continues to close below the 10sma and the histogram is still in the negative I will ride it until my tp area.
Winning playbook.
  • #1,388
  • Jan 8, 2022 5:30pm Jan 8, 2022 5:30pm
I love the idea of keeping things simple in trading AND using the daily chart for seeing potential trading opportunities so thanks very much for sharing your system .... I also like finding trade opportunities from the daily chart and I have found that the Waddah Attar Explosion indicator to be quite useful for confirming trade signals ... Im not sure if peopel want to try it in this system but I thought Id share this here just in case :-)
  • #1,389
  • Jan 9, 2022 4:59am Jan 9, 2022 4:59am
Taylor McGrath when you read this say hello!
Please ask questions and share your experiences with us all!
  • #1,390
  • Jan 9, 2022 6:52pm Jan 9, 2022 6:52pm
Take a look at the GCd. (Monday trading day) I would say it is at or very near a confirmed short. I would be a bit happier if the SMA 10 line was more clearly turned down, but . ..

MACD agreement.
  • #1,391
  • Jan 10, 2022 3:55am Jan 10, 2022 3:55am
I am not sure what GCd is.......GBP/CHF daily....?
Please ask questions and share your experiences with us all!
  • #1,392
  • Edited 8:42am Jan 10, 2022 8:16am | Edited 8:42am
Quoting bkg102665
I am not sure what GCd is.......GBP/CHF daily....?
Sorry, GBPCAD Daily.

Nothing on this yet, but we will see if it rolls over and down.

Quite possibly a day or so early. Still have higher highs and higher lows.
  • #1,393
  • Jan 10, 2022 10:46am Jan 10, 2022 10:46am
$GBPCAD
Divergance / Price and RSI 14.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD.png Size: 241 KB
  • #1,394
  • Jan 11, 2022 2:52pm Jan 11, 2022 2:52pm
After 2 days here's a updated chart for GBPCAD . Divergence of Price VS Rsi 14 comes into play. I'm not trying to hi-jack this thread but 10 day sma is too slow for my taste.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD1.png Size: 239 KB
  • #1,395
  • Jan 12, 2022 4:17pm Jan 12, 2022 4:17pm
Quoting Mac712
After 2 days here's a updated chart for GBPCAD . Divergence of Price VS Rsi 14 comes into play. I'm not trying to hi-jack this thread but 10 day sma is too slow for my taste.{image}
I always recommend trading what you see, not what I see. If the 10sma is too slow for you this may not be the right thread for you. I see this going back up based off what i see.
Please ask questions and share your experiences with us all!
  • #1,396
  • Jan 12, 2022 7:55pm Jan 12, 2022 7:55pm
RSI 14 and price divergence is the key. Look at any chart and you see RSI 14 and price divergence you can count on odds that price if fixing to change direction. And don't hate the messenger.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD2.png Size: 223 KB
  • #1,397
  • Last Post: Edited 6:54am Jan 13, 2022 6:44am | Edited 6:54am
Quoting Mac712
RSI 14 and price divergence is the key. Look at any chart and you see RSI 14 and price divergence you can count on odds that price if fixing to change direction. And don't hate the messenger.{image}
Hey brother I hope it goes your way. I am not in the trade because it is not a pair I normally look at. We all have things we like to see to get us in a trade, if RSI14 is your baby then ride it!
Please ask questions and share your experiences with us all!
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