The EURCHF trade I posted earlier is still hanging about, going nowhere slowly. But EURJPY took off and luckily I was on it.
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Disliked{quote} I remember this setup from your post early in January. I still like that channel concept. I see you use a method very similar to a video I happened to watch today. I wonder what you think of it (it's a bit long-winded so I used the right arrow quite a bit). https://www.youtube.com/watch?v=cvFvD3fNWvMIgnored
Dislikedso many ways fibo can help to know how healthy the trend is.{image} look at the last but 4 bullish candle. exact retracement to 61.8 % mark. still the close is out of the 10 ema channel. the rsi are still below one another and below 50. the next bearish candle opened at 61.8% resistance and closed well outside the 10 ema channel. this confirms a healthy downtrend. if the retracement starts crossing the 50% mark and approaches the 38.2% mark i ususlly get out of the trade irrespective of the profit or loss. it means the trend is not healthy. find...Ignored
Disliked{quote} I have never found the fibo very convincing - so many lines to choose from (23, 38, 50, etc), price has a high probability of reaching one of them.Ignored
DislikedYellow rectangle is no trade zone as price action is moving above and below Guppy LT EMAs The start of down trend is when the Long term guppy cross . ie 30 ema crossses 60 ema down. (red ema 30 crossing below magenta ema 60) At my entry candle : 1) all LT emas are evenly spread. this is the first criteria. if this is not fulfilled there is no trade. 2) the first candle to close below 10 ema channel.( if this is not fulfilled i consider it as a consolidation hence no trade) 3) rsi 6 should cross below rsi 12 at the same candle and both below 50....Ignored
DislikedYellow rectangle is no trade zone as price action is moving above and below Guppy LT EMAs The start of down trend is when the Long term guppy cross . ie 30 ema crossses 60 ema down. (red ema 30 crossing below magenta ema 60) At my entry candle : 1) all LT emas are evenly spread. this is the first criteria. if this is not fulfilled there is no trade. 2) the first candle to close below 10 ema channel.( if this is not fulfilled i consider it as a consolidation hence no trade) 3) rsi 6 should cross below rsi 12 at the same candle and both below 50....Ignored
Dislikedi have only 2 indices and 7/8 stocks on my MT4 platform ( active liquid instruments, low spread and low margin requirement). i scan through the charts 15 min before the end of H1 candle till i find a good setup. I keep H1 and D1charts open and take future trades on H1 on completion of the candle. I sell options mostly on D1 timeframe. if i see setup developing on D1 I sell options without waiting for candle to close. i trade only one instrument at a time. so no scanner and no alerts are required. none of brokers in india allow trading from mt4 so...Ignored
Disliked{quote} Thank you! This is interesting, because I find my attention spread between too many assets. So if I got you right, you only have 9-10 assets, but try to check them every hour 15m before the 1H candle close while the market is open? How many trades a week or a month do you find this way?Ignored
Disliked{quote} all my assets are from different sectors so i am in trade every day. in fact i miss a lot of them because i focus on only one trade at a time. trading is not my profession but i am learning as my retirement planIgnored
Disliked{quote} So you have about 10 assets from different sectors, which gives you about 1 trade daily? I'm in the same boat - working full time etc, but trying to fit trading into my daily routine.Ignored