Efranco exactly what I was looking for! Thank you so much for sharing my friend!
4 Hour Strategy Macd+other Indicator 21 replies
DislikedAre you in any trades right now JimTatum?
Ugh, so upset with myself.Ignored
DislikedThought I would drop in for a sec between mosquito bites and bad busses. Hey Unlv, I am sorry for your loss. I have no idea what the charts are reading right now, but wanted to encourage you and myself to remember that trading is a process. One step at a time. DionIgnored
Know Phillip already answered w/zero break criteria but I also think it is important to look at the MA's and how they are all closely knit together (not really a very good trading environment). Your trade, however, was a nice range play w/MACD direction (look at the levels of MACD signal too -- pretty weak -- all less than the .0015 level -- shows little interest in pair). I did something similar -- playing the range, but exited at 2.0570 (upper part of lower range). We can thank the CAD surprise rate cut for helping us get the down move (imho) -- maybe some thought BOE may do same? You've moved to BE + a few pips in your favor, eh?
Infact I was very nervus today there wasnnt any movement today for the GBP .. any how I got out from it with zero pips
have anice trading
DislikedYou know that jittery feeling you get after drinking way way too much coffee? If you have that feeling before a trade, you may consider not trading and get profesional help. JK, keep working forward bro.Ignored
DislikedThis post is in regards to U/J. Why are we forcing the trades? Yen Pairs are a bit tempermental and require a bit of practice (imho). They seem to follow their own set of rules due to the carry trade environment. We haven't seen a good rhythm really develop for the upmove yet -- so why would we want to risk some pips at this stage betting on a bounce? Why not wait for better confirmation? Also, the MACD is in negative territory & price is below the 21 & 8 ema's right now. Price can still go anywhere at the moment, but there isn't much room up to the 8/21. & the current price action provides a resistant line @ ~110.15 (down line meets up line here -- and is near the MA). Personally, I would want to see price peirce this level w/strong upward conf. from MACD before going long or see price bounce from~109.41 w/upmove confirmed. (the irony is I don't trade U/J very often (I'm a G/J E/J trader -- & their price action is diverging which means the yen pairs are acting independently of one another, which is unusual..but I'm bearish on G/J), so I wouldn't take the trade either way...just sharing what I see). I do think price will eventually reach the 200, just not sure how or when it will get there. Have I confused you guys? Yikes!! The good thing about the longs is your stops can be pretty close..
We are only in the beg. of the month and have many days to trade. No need to force it on the second trading day of the month (especially during Dec.).
Hope the trades go way positive for you all!
why to bother if stops are close or not? What kind of MM do you use? If you use fixed amount of % risked in any trade it is not a difference if stops are close or not - in case of failure you loose the same amount of $.
Just of my curiosity.
DislikedCould you show me more details? I know that daily pivot point has s1 s2 s3 r1 r2 r3 these point, how could you use them as r/s line or profit target?Ignored