My Euro daily showing price between 21 and 89. 4hr showing pin touching resistance level. No short signal yet. I am looking for trend continuation signals only.
hi all,
i have been reding this thread for 2 weeks, which is when i first discovered it and have so far been trying my best to get a good understanding of the system. i am still in the process of reading all the pdfs and listening to the lessons.
at first i made a mistake of only looking at the macd the signals but have realized these should be used in conjunction with other factors like price action, range etc... so looking at the current eur usd chart it seems as if the price has broken the trendline (conecting the high of the 23rd arp and 6th and 9th of may).
as per phil's 14613 it seems that since the price has closed above the 21 ema there could be a potential long position, but maybe not just yet as there is still no macd signal, but would you also interpret this as a tail end of the recent price action, with a possibility to fall back under the recent trendline, hence a possible short.
from my understanding, or lack of, since there is no clear indication i should wait for a macd signal to determine whether this is a long or short.
would be greatful if you could let me know where you stand on the current position and if i am reading the system in the right way.
thanks for this system, i can see it can be very profitable but takes patience and commitment to understand.
thanks!!!
just had another look...do you see a higher high or the macd touching the 0.15 macd level and going back...i.e. the first giving abuy and the second signal a sell. i am confused.
thanks again
Ignored
Just my Opinion ,i think euro will be up BUT we must wait till the price come down and then price up we wait for signal TC,eu h4 make Lower low become Higher low may be euro/usd will be reversal.thanks
EurUsd
Very interesting as for the second time in a row it closed above the 21ema, pulled back to it and did not go to 89sma. The previouse one turned around midway and this one turned around. Will be interesting to see what is going to happen. No signal yet. RT R:R not OK
GbpUsd
Those 2 purple roundings is very interesting. MACD has given a TC. Bottom trendline to close for R:R to be OK. I will wait for the breakout below the TL and then treat is as a breakout trade as indicated by the green line. I like those two purple rounding. If a 3rd one is formed the chances of a breakout short is very high.
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Joined Jul 2007
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Status: Macroeconomic trader
|498 Posts
I have shorted GU already @ 1.9470, 1 tp with 20 pips, sl is 1.9510, There are some support line down there, and also a divergency I am a little worry aobut.
What a pity my 1 tp was missed with 1 pips. I don't know how to handle this situation
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Joined Jul 2007
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Status: Macroeconomic trader
|498 Posts
I have quit alwready with 15 pips lose. It seems that the trend has changed already.PS: A damn telephone call and my bad platform made me not have the time to set my sl with BE, I think I must change a borker.
Sorry about that Saka.
Usually when it finds resistance one pip from TP, I just take 1 less pip. Happened to me on Friday.
GBP bounced pretty hard off lower trend line. Good chance 8 MA will continue to provide resistance.
Sorry about that Saka.
Usually when it finds resistance one pip from TP, I just take 1 less pip. Happened to me on Friday.
GBP bounced pretty hard off lower trend line. Good chance 8 MA will continue to provide resistance.
Ignored
My plat form is a little from yous which is a little lower at 1.9420. I think if the price falls back to the enter point. It means that a tail with TC has formed. Whether we should entery this?
I took 5 min trade on Euro below the low of the previous day for +18........thats the good news, nice easy fast trade........but it didnt reach my target so i waited. HHhhmmmm, it retraced for -3. Never look a gift horse in the mouth!
There was definitely a trade on for that Euro, even if it wasnt the 4hr, +26 minus expences and slippage. But the low of the previous day was the obstacle, and it has now returned to it as resistance for the moment.
, but still OK. You know what I mean.
