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Finding the trend

  • #221
  • Jul 28, 2024 3:42pm Jul 28, 2024 3:42pm
Quoting OAPDave
{quote} Hi Any particular reason you have restricted me from sending you a P.M ps So does that mean that you would like me to refrain from posting on the thread as well ?
I don't understand. I don't know how to restrict people other than ignoring and you are not ignored.

I will try and subscribe to you. I were subscribing to you earlier, until you said you would delete all your posts in the thread. But I never ignored you or anything else.
MetaTrader 4 - so many advantages.
  • #222
  • Jul 28, 2024 3:43pm Jul 28, 2024 3:43pm
Quoting OAPDave
{quote} Hi Any particular reason you have restricted me from sending you a P.M ps So does that mean that you would like me to refrain from posting on the thread as well ?
I am going to sleep now. My trading starts in 2 hours from now.
MetaTrader 4 - so many advantages.
  • #223
  • Jul 28, 2024 3:58pm Jul 28, 2024 3:58pm
Quoting RiskFighter
An example - look at this guy. Reveiled at the MultiWPR screen, that this par has been in a steep trend on the Daily for the whole of July. Then going to H4, H1 and M30 - still a nice trend which should have given tons of pips. Will it continue today? I bet on it. Might lose, but that is part of the game. If I am right, then there will be some profit fot me. {image} {image} {image} {image} {image}

I totally agree with your analysis with the EURNZD, it seems and according to my strategy I would continue with a buy operation looking for a 1:2 risking .5% of the account, although on the daily level the Currency Strength Indicator shows a small weakening in EUR, maintaining good risk management will probably get a few pips.

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  • #224
  • Jul 28, 2024 4:11pm Jul 28, 2024 4:11pm
Quoting RiskFighter
{quote} Hi Jaime I use the meter to see what is trending right now - in this exact moment. I do not use the Cross as you do, allthough I acknowledge, that it is a fine strategy. So everything that is outside the green and red lines is interesting. This is reality TV. I love it. This meter is better than other takes where only the digit value is shown, because you can see what happen in real time. If the value is beyond #2 but pointing down, then it is not time to trade. Here is what I did friday. The pairs that I had chosen for the day were doing...
I'm glad that this indicator is also working for your strategy, I will continue testing and probably when I have a little more free time I will try some Scalping strategy.
I found it right here on ForexFactory in this thread which is much more extensive and complex. It will probably help you, like me, to expand your trading by following trends: https://www.forexfactory.com/thread/...ngth-dashboard
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  • #225
  • Jul 28, 2024 4:29pm Jul 28, 2024 4:29pm
Quoting RiskFighter
An example - look at this guy. Reveiled at the MultiWPR screen, that this par has been in a steep trend on the Daily for the whole of July. Then going to H4, H1 and M30 - still a nice trend which should have given tons of pips. Will it continue today? I bet on it. Might lose, but that is part of the game. If I am right, then there will be some profit fot me. {image} {image} {image} {image} {image}
The higher the price goes, the more likely it is to fall soon. When this happens, I generally expect the price to start consolidating in some area for several days until it subsequently falls. There are probably entries for Scalping, but for Swing, as I operate, it is already too much of a journey.

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For example, this is something I notice in GBPUSD. According to my strategy and analysis, I would go for a sell position with good risk management, especially due to some fundamental news that affects the entire UK economy and the USD is getting stronger.

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  • #226
  • Jul 28, 2024 5:15pm Jul 28, 2024 5:15pm
Quoting OAPDave
{quote} Hi Any particular reason you have restricted me from sending you a P.M ps So does that mean that you would like me to refrain from posting on the thread as well ?
I remember now. We had a conversation on PM. We could not really use the tool because we could not add files. Furthermore it is an amateur User Interface, which I cannot use to have many daily conversations. So I switched of the PM function. Not towards you - that cannot be done, but in total. Nobody can PM me.

I can switch it on for a short time, but it will be switched off again. I just don't like the function.

It is a little like on public homepages when you have to fill in some text, then you get a little field at the size of a stamp. That is because silly programmers find that smart. Well, I have been a software Project manager for 25 years, and I can assure, that those small stampfields never survived in any of my projects.
MetaTrader 4 - so many advantages.
  • #227
  • Jul 28, 2024 5:24pm Jul 28, 2024 5:24pm
I saw all your post Jamie. They need a little thinking which I cannot do now - I am setting up my charts. Later.

So I have today 11 chosen charts. I must say, that July have been very well trending. But nothing is happening as the currency meter tells. So I watch the meter and is ready to trade the selected pairs which will be active on the meter.
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MetaTrader 4 - so many advantages.
  • #228
  • Jul 28, 2024 7:41pm Jul 28, 2024 7:41pm
Quoting JaimeAlejan
{quote} I'm glad that this indicator is also working for your strategy, I will continue testing and probably when I have a little more free time I will try some Scalping strategy. I found it right here on ForexFactory in this thread which is much more extensive and complex. It will probably help you, like me, to expand your trading by following trends: https://www.forexfactory.com/thread/...ngth-dashboard {image}
WOW. That is a good thread. Look forward to go deep into it.
MetaTrader 4 - so many advantages.
  • #229
  • Jul 28, 2024 7:47pm Jul 28, 2024 7:47pm
Quoting JaimeAlejan
{quote} The higher the price goes, the more likely it is to fall soon. When this happens, I generally expect the price to start consolidating in some area for several days until it subsequently falls. There are probably entries for Scalping, but for Swing, as I operate, it is already too much of a journey. {image}{image} For example, this is something I notice in GBPUSD. According to my strategy and analysis, I would go for a sell position with good risk management, especially due to some fundamental news that affects the...
It is a bit ranging now, but that can as well be part of the normal structure.
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MetaTrader 4 - so many advantages.
  • #230
  • Jul 29, 2024 2:10am Jul 29, 2024 2:10am
Quoting OAPDave
{quote} Hi Any particular reason you have restricted me from sending you a P.M ps So does that mean that you would like me to refrain from posting on the thread as well ?
This is how my PM has been set.
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MetaTrader 4 - so many advantages.
  • #231
  • Jul 29, 2024 2:30am Jul 29, 2024 2:30am
Quoting RiskFighter
{quote} This is how my PM has been set. {image}
Hi
No Problem
Understood
  • #232
  • Jul 29, 2024 2:47am Jul 29, 2024 2:47am
Quoting RiskFighter
{quote} It is a bit ranging now, but that can as well be part of the normal structure. {image}
We trade in slightly different ways
but who care's as long as we are profitable
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  • #233
  • Edited 3:18am Jul 29, 2024 2:58am | Edited 3:18am
Here is how I can use the Currency Strength Meter (CSM)
Example: My WPR analysis told me, that AUDCAD have a nice trend on H4 to the north. So I should be trading AUDCAD Long today.
However looking af CSM on the Daily TF - I can see that:

  1. AUD and CAD lies both below the -2 line and next to each other. This indicates that there are no strength condition for the time being wich can help to predict the direction. It rather tells about possible ranging conditions.
  2. Both lines are pointing down. So no sign that one of them will begin to pull off.

So - AUDCAD has been trending nicely on H4 for a time, but there is no power in any of them.

As I found 14 trending pairs using the WPR, then there is a possibility to narrow the field using this methode. Today I excluded 3 pairs.

Then another way to use the CSM. Forget the WPR. Use only the CSM. The curves for yesterday show, the EUR had the most power and were continuing AUD and NZD had low power pointing down. So presumelly best pairs for trading today should be EURAUD and EURUSD in Long direction. This strength difference has been going on for 3 weeks. So if you only want to trade a few pairs, those could be the choice for now.

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MetaTrader 4 - so many advantages.
  • #234
  • Jul 29, 2024 3:19am Jul 29, 2024 3:19am
Quoting OAPDave
{quote} We trade in slightly different ways but who care's as long as we are profitable {image} {image} {image}
And your way is absolutely a profittable way.
MetaTrader 4 - so many advantages.
  • #235
  • Jul 29, 2024 8:19am Jul 29, 2024 8:19am
Just a little ramble
Trend Direction is a must
Trend Strength is a must
We have seen a few ideas how to find Trend Direction
So what are our thoughts when we get a good entry in the correct Direction
What are our expectations in pips
This is just MY OWN view as I am UK based hence I never see the Daily start as in bed sleeping
When I open my charts, I want to see how much ADR as already been used and how much is left
In general this means I look for pairs with decent ADR Ranges
These examples should give clues and show when average ADR as been reached and perhaps which pairs to jump on,
when I am at my post ready to trade
End of ramble
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  • #236
  • Jul 29, 2024 10:55am Jul 29, 2024 10:55am
Quoting OAPDave
Just a little ramble Trend Direction is a must Trend Strength is a must We have seen a few ideas how to find Trend Direction So what are our thoughts when we get a good entry in the correct Direction What are our expectations in pips This is just MY OWN view as I am UK based hence I never see the Daily start as in bed sleeping When I open my charts, I want to see how much ADR as already been used and how much is left In general this means I look for pairs with decent ADR Ranges These examples should give clues and show when average ADR as been reached...
Is ADR = Average Daily Range?
MetaTrader 4 - so many advantages.
  • #237
  • Edited 1:06pm Jul 29, 2024 11:53am | Edited 1:06pm
Quoting RiskFighter
{quote} Is ADR = Average Daily Range?
Yes
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  • #238
  • Jul 29, 2024 6:45pm Jul 29, 2024 6:45pm
Quoting OAPDave
{quote} Have a play with this ? {file}
ok. Thanks. What are the rules? Explain please
  • #239
  • Jul 30, 2024 12:14am Jul 30, 2024 12:14am
EURNZD is starting to push lower, I'm trading with very low risk while I wait for my credentials from the funded account from the challenge I passed last week. This month will be interesting, now with the Real account I will be managing the risk better and looking for trends to join and get some pips...
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Below you can see a slight push in the currency strength indicator on daily charts, and on H4 charts you can see that NZD has some strength, looking for some pips to sell
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  • #240
  • Jul 30, 2024 12:30am Jul 30, 2024 12:30am
I just found this very interesting pair. NZDJPY, after several days of consolidation, is starting to break the bearish trend to rise a little. These types of structures are my favorites. They are generated a lot in the EURAUD, one of my favorite pairs, after days of consolidation, it takes off strongly in one direction for DAYS.

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Currency Strength in H4 shows currency crosses and in the Daily chart it shows that the two currencies are at extremes. I also like to analyze fundamentals, it is often heard that the Yen will not be able to withstand the capital injection that was made without suffering a significant setback, we do not know but this type of manipulation by central banks tends to correct itself.
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