Yesterday I've closed the trade with +52 pips profit but now I'm thinking it's an uptrend continuation pattern forms in H4 MACD. The time to go long again?
Ben
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DislikedI think it's gona be good Short trade from here on cable
1st target for me 1.9610
waiting for some ons till me am I rong or what?
any comments from you will helpIgnored
DislikedI think it's gona be good Short trade from here on cable
1st target for me 1.9610
waiting for some ons till me am I rong or what?
any comments from you will helpIgnored
Disliked25 pips between ma's, still above first ma to hit (not bad, but close to no trade by my rules now), and the current candle has an upward tail. The MACD looks like maybe a round (looks a little bit rough on my chart?), and it seems to be hitting a lot of resistance right now. No big news coming out to affect it. I would look to go short, but definitely wait for the candle to close for confirmation (only 1 hour to go), and maybe check the 45 minute chart for confirmation too.
Those are my thoughts...anyone else.
Update - don't forget about retracement.....Ignored
DislikedYesterday I've closed the trade with +52 pips profit but now I'm thinking it's an uptrend continuation pattern forms in H4 MACD. The time to go long again?Ignored
Disliked25 pips between ma's, still above first ma to hit (not bad, but close to no trade by my rules now), and the current candle has an upward tail. The MACD looks like maybe a round (looks a little bit rough on my chart?), and it seems to be hitting a lot of resistance right now. No big news coming out to affect it. I would look to go short, but definitely wait for the candle to close for confirmation (only 1 hour to go), and maybe check the 45 minute chart for confirmation too.
Those are my thoughts...anyone else.
Update - don't forget about retracement.....Ignored
DislikedWhat a nice system. Suits my trading style perfectly. Would the be possible short on G/U ?.Round top at strong resistance. Can anybody comment please? Hope the picture uploaded lolIgnored
DislikedI agree about going short. My only concern is that we're sitting on the 89 SMA which has been acting as support also. I would want to see a close below this on a smaller timeframe to confirm short. A close below the 60 trendline would do this for me. I have a price projection around 1.9630 based on my 60 trendlines. the 200 sma is about 1.9610Ignored
DislikedJust started looking at this method. Just wondering right now. How do you apply the moving averages: apply to close, open, high, low, median price, etc. Thank you.Ignored
DislikedI noticed that often times a small round top (like about halfway below 15 level) results in continuation rather than reversal. Would you comment on that, please, Phillip.Ignored
DislikedHi phil,thanks for sharing your system! can i also check with u whats the worst drawdown with this system(in pips) and do u have a filter for the drawdown? thanks!Ignored
DislikedGBP/USD showing the making of a head and shoulders? Thoughts on direction and how far?Ignored
Disliked10:22 GMT
Hi Phillip,
Is there any trade when MACD crosses zero line as it is done in EUR/USD a couple of bars back? Just plain crossing, nothing else. It is very tempting to take a position when this happens.
-ChandraIgnored
DislikedYou are absolutely right. That is why I said this morning that with support of 89SMA on the Gbp and also on the Eur we must wait for a possible trend continuation. The down move must be confirmed even if it takes another candle. The move is up between two trendlines therefore a continuation pattern was on the cards.
This the actual posting this morning for the Gbp. The same apply to any pair.
The setup starts to look promising. We are however just above the 89SMA which can turn out to be support. I will rahter wait for the continuation pattern for a long to occur or another down candle will confirm the downmove. There are plenty of chances. Be patience.Ignored