Long AudUsd trade still running.
Interesting GBP/USD MA Crossover system 178 replies
If it works, it works... 3 replies
Need help with MA crossover system 15 replies
A "different" crossover system - 600 pips on Friday alone in EUR and GBP 48 replies
Scalping with crossover system 0 replies
Disliked{quote} Nice one, neilpryde. Could you perhaps talk us through how you identified this trade, how you chose your entry level and where you set your TP? Were there any concerns you might have had? Thanks AlistairIgnored
DislikedOn this GBPAUD trade the daily is bearish and the H4 has pulled back nicely to the EMAs, so I am now expecting it to fall in line with the daily. I entered at the base of the pinbar, which lies right across both EMAs, which is a good sign. Concerns: There are some support levels in that vicinity, but the main one is where my TP is. The H4 chart shows an "older" trend - it is currently beginning its 5th leg down. That alone almost made me walk away from this. {image}{image}Ignored
DislikedI missed the obvious entry possibilities soon after the EMA crossover - there was a decent pinbar and then a two-bar pullback as marked on the H4 chart. Both would have worked. So now I'll have to wait for price to pull back to the EMAs. The weekly shows that price has visited a key level and is now dropping away from there. The daily shows the beginnings of a possible reversal, but for now a decisive break below the 21 EMA, which will do. I will use a sell stop order during the expected pullback so that if price does continue its bullish direction...Ignored
Disliked{quote} Going better than expected and now moved to B/E. The TP is 120 pips, so I am 50% of the way there. {image}Ignored
Disliked{quote} The very good ADP non-farm employment result coming out of the US just over 30 minutes ago caused this trade to spike down to within 8 pips of the TP, but not enough to hit it . Price has now moved 60 pips away. What should I do? Hope the overall trend takes over or close now while I still have some money to bank? I'm not sure what is the best way to go.Ignored
Disliked{quote} I take it you have precise rules for this particular incident as it will happen (again and again). I only want to make you aware of the real chance that a W-formation could be forming (but probably you can see that anyway).Ignored