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Predicting Short-Term Direction and S/R Using Indicators

  • #141
  • Mar 25, 2024 4:53pm Mar 25, 2024 4:53pm
A trade off the USD/CHF Daily using the 15min chart for entry.

In at 0.89940
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFDaily1.png Size: 37 KB
  • #142
  • Mar 26, 2024 8:06am Mar 26, 2024 8:06am
Quoting moneymaker2
A trade off the USD/CHF Daily using the 15min chart for entry. In at 0.89940 {image}
Well, that was a bust. After the third failed attempt a breaking through support, it was time to leave.
Loss of a little over 10 pips, but the worst part was just having to be in the trade for so long with nothing happening.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF30m1.png Size: 36 KB
  • #143
  • Mar 26, 2024 4:37pm Mar 26, 2024 4:37pm
Well, I'm going to try this again...
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFDaily2.png Size: 36 KB
  • #144
  • Mar 27, 2024 3:07am Mar 27, 2024 3:07am
Quoting moneymaker2
Well, I'm going to try this again... {image}
91.000 incoming? Stochie popping on larger setting.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF.aDaily.png Size: 41 KB
  • #145
  • Mar 27, 2024 8:40am Mar 27, 2024 8:40am
Quoting FocusWinReal
{quote} 91.000 incoming? Stochie popping on larger setting. {image}
May very well be. I was looking for a quick retracement, not a reversal. The big resistance is on the mid-BB on the Monthly chart (~91.300).

But that many candles at the upper BB is a rarity, so I was expecting a dip. Still am, actually, as there are now 5 green candles at the upper BB, and you almost never see six. So I added to my position just a couple of minutes ago at 0.90707, which brings my break-even to 0.90529.

That's one of the problems of not being able to watch a trade to fruition. If I would have been at my computer, I would see how the 4hr chart couldn't penetrate the 5EMA, which means it's still moving up, so that's a flag to get out. I'm still confident it will make money, but I have to modify my position a little..

I'm just too old to trade options in the morning and throughout the day, do the yard work and errands during the day and evening, and trade past midnight on currency and catch the London open. That's one of the reasons I focus mainly on options now. I've actually traded more for this thread than I have the last year total, and the thread was started just to show those on the "Forex- A Negative Sum Game for Losers" thread just how wrong they were when they said no one made money in forex, especially those that use charts.
  • #146
  • Mar 27, 2024 10:13am Mar 27, 2024 10:13am
Quoting moneymaker2
{quote} So I added to my position just a couple of minutes ago at 0.90707, which brings my break-even to 0.90529.
Out at 0.90519 for a total of one pip.

Back in at 0.90590. I'm good for the day, now....I'll just wait for it to go down.
  • #147
  • Mar 27, 2024 5:12pm Mar 27, 2024 5:12pm
Quoting moneymaker2
{quote} Out at 0.90519 for a total of one pip. Back in at 0.90590. I'm good for the day, now....I'll just wait for it to go down.
Out at 0.90390

That's good for 20 pips.

The way it is going, I may get in again.....
  • #148
  • Mar 27, 2024 5:17pm Mar 27, 2024 5:17pm
Back in off the USD/CHF Daily chart, using the 5min chart for entry.

In at 0.90517
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF5min1.png Size: 36 KB
  • #149
  • Mar 27, 2024 9:33pm Mar 27, 2024 9:33pm
Quoting moneymaker2
{quote} May very well be. I was looking for a quick retracement, not a reversal. The big resistance is on the mid-BB on the Monthly chart (~91.300). But that many candles at the upper BB is a rarity, so I was expecting a dip. Still am, actually, as there are now 5 green candles at the upper BB, and you almost never see six. So I added to my position just a couple of minutes ago at 0.90707, which brings my break-even to 0.90529. That's one of the problems of not being able to watch a trade to fruition. If I would have been at my computer, I would...
Thanks for your efforts in posting this thread recently MM2.
I get your point of view and finding what is best for us is sensible.
My point with my chart was the bigger picture possibility prior to Easter trading conditions kicking in.
Anyway, your scored pips and that's what matters.

Cheers..
  • #150
  • Mar 28, 2024 9:23am Mar 28, 2024 9:23am
End of the USD/CHF trade. Got out off the 1hr chart due to red flags on the 1hr, 30min and 15min charts with candles below the BB, all indicating a small move up. It may go down more on the Daily chart to hit the 5EMA, but it isn't worth it to stay for a few more pips. Time to take the profit and look elsewhere for another trade.

In at 0.90517
Out at 0.90137

38 pips
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF1h1.png Size: 41 KB
  • #151
  • Mar 31, 2024 10:47pm Mar 31, 2024 10:47pm
Possible RSI Divergence on the GBP/JPY 1hr chart. Won't know for about an hour and 15 minutes.....
Attached Image (click to enlarge)
Click to Enlarge Name: GBPYEN1hr1.png Size: 39 KB
  • #152
  • Mar 31, 2024 10:49pm Mar 31, 2024 10:49pm
Pretty much the same on the EUR/JPY 1hr chart, also.
  • #153
  • Mar 31, 2024 11:42pm Mar 31, 2024 11:42pm
Quoting moneymaker2
Possible RSI Divergence on the GBP/JPY 1hr chart. Won't know for about an hour and 15 minutes..... {image}
Nope, not this time....
Attached Image (click to enlarge)
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  • #154
  • Apr 3, 2024 11:31am Apr 3, 2024 11:31am
A trade off the GBP/JPY 1hr chart.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPYEN1hr3.png Size: 35 KB
  • #155
  • Apr 3, 2024 11:42pm Apr 3, 2024 11:42pm
Added some more to the GBP/JPY trade at 191.950 that was finally hit, so my breakeven is now 191.850.

I'll add some more if it goes up another 20pips, and take profit when it goes down 20 pips.

But it's bedtime for an old man....
  • #156
  • Apr 4, 2024 8:24am Apr 4, 2024 8:24am
Quoting moneymaker2
Added some more to the GBP/JPY trade at 191.950 that was finally hit, so my breakeven is now 191.850. I'll add some more if it goes up another 20pips, and take profit when it goes down 20 pips. But it's bedtime for an old man....
Busy morning today. Added more at 192.015, moved breakeven down to 192.000, got out at 191.935 for just over 6 pips. Got back in at 191.953 going up off the 5min chart, got out at 192.111 for just over 15 pips. Just shorted at 192.230 off the 1hr chart.

Sorry no screengrabs, haven't had time....
  • #157
  • Apr 4, 2024 8:30am Apr 4, 2024 8:30am
Out at 192.130 off the 5min chart for 10 pips.

Done for now, gotta go trade some options...
  • #158
  • Apr 8, 2024 11:54pm Apr 8, 2024 11:54pm
Quick EUR/AUD trade off the 30min chart.

In at 1.64233
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD30min2.png Size: 41 KB
  • #159
  • Apr 9, 2024 12:08am Apr 9, 2024 12:08am
Quoting moneymaker2
Quick EUR/AUD trade off the 30min chart. In at 1.64233 {image}
Got out off the 5min chart....couldn't break through resistance after 3 times, so time to get out.

Out at 1.64286, a little over 5 pips.

I'm done for the night....
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD5min2.png Size: 39 KB
  • #160
  • Apr 9, 2024 10:33pm Apr 9, 2024 10:33pm
A trade off the EUR/AUD Daily chart. Indications of an upward move enough to make some pips relatively quickly.

In at 1.63737
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDDaily5.png Size: 40 KB
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