- #1,422
- Aug 21, 2024 10:15am Aug 21, 2024 10:15am
- Joined Jan 2013 | Status: Trader | 4,386 Posts
MA provides the market's current direction and strength.
- #1,424
- Aug 21, 2024 10:28am Aug 21, 2024 10:28am
- Joined Jan 2013 | Status: Trader | 4,386 Posts
MA provides the market's current direction and strength.
- #1,425
- Edited 4:25am Aug 23, 2024 3:22am | Edited 4:25am
No trades yesterday. I had GU but closed it before news as wasn't feeling very good about it but it would have won. Perhaps should have just left it.
Today is a textbook setup according to the strat of this thread. Again GU.
Monthly: HIGHLY bullish
Weekly: HIGHLY bullish
Daily: Pause candle yesterday with a slight pullback which make longs today highly likely.
The key here is the weekly candle and the proximity to the monthly/weekly highs.
When zoomed out it seems obvious that price is heading for Weekly/Monthly high to the left. Once that level is touched, I will look for short term shorts as a pullback is due.
Entry was a little late unfortunately but still decent. If this gets stopped out, I will just look for re-entries. First M15 bullish candle was the perfect entry IMO.
Update: TP Hit!
This was a VERY strong trade.
Today is a textbook setup according to the strat of this thread. Again GU.
Monthly: HIGHLY bullish
Weekly: HIGHLY bullish
Daily: Pause candle yesterday with a slight pullback which make longs today highly likely.
The key here is the weekly candle and the proximity to the monthly/weekly highs.
When zoomed out it seems obvious that price is heading for Weekly/Monthly high to the left. Once that level is touched, I will look for short term shorts as a pullback is due.
Entry was a little late unfortunately but still decent. If this gets stopped out, I will just look for re-entries. First M15 bullish candle was the perfect entry IMO.
Update: TP Hit!
This was a VERY strong trade.
- #1,426
- Edited 4:32am Aug 23, 2024 4:12am | Edited 4:32am
EA
Was waiting to see what price would do at H4 demand. After the initial reaction it engulfed back down signalling shorts.
Entry on M5 when it came back to supply. Once price shifted the zone down I moved the SL to the high which should hold.
Very little risk left on the trade.
Monthly: Big wick after taking major LQ.
Weekly: pushing down
Daily: Although we are pushing up the rest of the timeframes signal shorts so this is just a retrace.
H4: The key here was the H4 Engulf down. It could just be coming to H4 demand (which can't be seen on my post but it's one more candle to the left on H4) but unlikely after the engulf.
@Hasib and @pusztafie - let's post explanations like this with our trades.
Update:
TP HIT
Was waiting to see what price would do at H4 demand. After the initial reaction it engulfed back down signalling shorts.
Entry on M5 when it came back to supply. Once price shifted the zone down I moved the SL to the high which should hold.
Very little risk left on the trade.
Monthly: Big wick after taking major LQ.
Weekly: pushing down
Daily: Although we are pushing up the rest of the timeframes signal shorts so this is just a retrace.
H4: The key here was the H4 Engulf down. It could just be coming to H4 demand (which can't be seen on my post but it's one more candle to the left on H4) but unlikely after the engulf.
@Hasib and @pusztafie - let's post explanations like this with our trades.
Update:
TP HIT
- #1,427
- Aug 23, 2024 4:15am Aug 23, 2024 4:15am
- Joined Jan 2013 | Status: Trader | 4,386 Posts
MA provides the market's current direction and strength.
- #1,429
- Edited 8:23am Aug 23, 2024 6:01am | Edited 8:23am
XAUUSD
Monthly: Bullish
Weekly: Engulf Up - bullish
Daily: We do have an engulf down but looks more like a retrace
H4: Engulf Up
Basically we are up and I don't see signs of shorts.
We can see break and re-test and engulf confirm for longs.
Also very nice retrace into the wave and engulf up.
Let's see.
TP was adjusted slightly as it was higher than my 1.5R I go for.
Update: TP HIT
Monthly: Bullish
Weekly: Engulf Up - bullish
Daily: We do have an engulf down but looks more like a retrace
H4: Engulf Up
Basically we are up and I don't see signs of shorts.
We can see break and re-test and engulf confirm for longs.
Also very nice retrace into the wave and engulf up.
Let's see.
TP was adjusted slightly as it was higher than my 1.5R I go for.
Update: TP HIT
- #1,430
- Aug 23, 2024 6:34am Aug 23, 2024 6:34am
- Joined Jan 2013 | Status: Trader | 4,386 Posts
MA provides the market's current direction and strength.
- #1,431
- Aug 23, 2024 6:41am Aug 23, 2024 6:41am
- Joined Jan 2013 | Status: Trader | 4,386 Posts
MA provides the market's current direction and strength.
- #1,433
- Aug 23, 2024 6:53am Aug 23, 2024 6:53am
- Joined Jan 2013 | Status: Trader | 4,386 Posts
With the directions of the ema Join 2 fractals and trade the TL break out. simple {image}
MA provides the market's current direction and strength.
- #1,434
- Aug 23, 2024 7:01am Aug 23, 2024 7:01am
- Joined Jan 2013 | Status: Trader | 4,386 Posts
MA provides the market's current direction and strength.
- #1,436
- Edited 8:25am Aug 23, 2024 7:14am | Edited 8:25am
GU
All the same as before.
It seems price needed a pullback after taking the previous daily high, got lucky my TP got hit on previous trade.
That engulf down looked fake on M15 to me. Took a little risky entry but I still maintain that weekly/monthly level "should" get taken before any shorts come into play.
Original SL was below that wick down but I've moved it slightly. Normally not something I do but will watch that low and close the trade accordingly if it comes back in a way I don't like.
Very good momentum so no need to overthink this too much. It either will work or not and time of day is perfect with fake engulf as well if I'm correct.
Update:
Closed Position around original SL
Looks like the move I'm looking for will happen next week or maybe after news but I'm out and no re-entry for today as if it does go up then it's a very messy move and best to stay out.
All the same as before.
It seems price needed a pullback after taking the previous daily high, got lucky my TP got hit on previous trade.
That engulf down looked fake on M15 to me. Took a little risky entry but I still maintain that weekly/monthly level "should" get taken before any shorts come into play.
Original SL was below that wick down but I've moved it slightly. Normally not something I do but will watch that low and close the trade accordingly if it comes back in a way I don't like.
Very good momentum so no need to overthink this too much. It either will work or not and time of day is perfect with fake engulf as well if I'm correct.
Update:
Closed Position around original SL
Looks like the move I'm looking for will happen next week or maybe after news but I'm out and no re-entry for today as if it does go up then it's a very messy move and best to stay out. 
- #1,438
- Aug 23, 2024 9:13am Aug 23, 2024 9:13am
- Joined Jan 2013 | Status: Trader | 4,386 Posts
MA provides the market's current direction and strength.
