Damonl Wave Trading

Do we have a new downward move pending? Or will it be a larger up move?

We already have a lower low and a lower high...will be keeping an eye on this to determine and will post when I know more.

am susan williams am new in forex trading i like your strategy but i still want you to help with step by step to use this strategy.Here is my email: [email protected]

Hello Susan....

Thank you for your kind words about my system. Forex is certainly a lot of work. Nothing comes easy.

Unfortuanately, I am not able to tutor you privately. It would be not only best for you, but educational for others if I was able to do my best in helping you right here on this thread.

Please feel free to post anything that you wish and I will do my best to help you in any way that I can. You will also find many other helpful people here as well.

Look forward to working with you...

In post #23 above. I mentioned that there as a short entry pending (one I closed because I needed to go to bed) based on the rules of the system. However I was mistaken. It was not actually a place to put a pending order.

Why? Because that trade which is the Double Break and Go trade you need to have a few consecutive inside wave patterns that we did not have here. So...this was an invalid set-up.

Consequently, had i taken it and left it in, I would have lost about 20 pips on the trade overall, so not the end of the world.

I was asleep when this trade hit, and so did not take it. The result...a small loss, but as you can see, it might really have been the start of a nice move up...but alas it wasn't.

Maybe there were places to get out with a small profit like a close back down below the pivot, but that would have not been part of the technicals of the trade and I am trying to stick to those.

Here is that trade set-up in chart form.

The 2 "thumb's-up on the chart....the first was where my initial stop was placed and the 2nd is where I moved my t/s to based on the Alligator giving me a solid red bar. Ultimately then, this is where I got stopped out.

We had both a lower high and a higher low form which means that we were in consolidation mode. Now all we needed was a CCI cross and a non-solid red gator bar. We got that at downward arrow. This trade would have remianed active until the CCI crossed back against our trade, which it never did and so this trade tirggered where the "x" is. Which is also the same bar where we would place our s/l.

Where the "thumb's up" are located, is how we moved our s/l as the trade moved in our favor, finally closing us out for 117 pips in profit.

A very nice systme in deed. tight stops with high probability moves coming out of consolidation.

Have a nice week of trading.