The RSI Trade

Nice trade Grant, Welcome and thanks for the post.

Here is another one in which I stayed longer. Again divergence work very well of the 5M.

Hard day to trade! I glad I made my pips early in the morning.

'Morning.

Sitting on my hands, having just missed a fairly obvious triple break long .

I've changed my Ninja charts to look more like TS8. RSI is my hybrid 21 RSI + LWMA + 45 / 50 / 55 lines (as no StepRSI coded for Ninja yet).

Price chart has simply 9 period Donchian, 34 EMA, horizontal lines at the 00 and 50 levels + weekly HiLoMid. No fibs, no trendlines (well, maybe a little of that on my TS charts...). 1200ema for TS only...

Morning Jtrade.
Have you got your eye on the m15 chart. Big longer term trendline there that might get broken down soon. I am in ready for it about 10 up at the mo, but only because I had some good points last night. I might be in too soon yet, we'll see.
Are you using the 1200ema for a trailing stop?
Andy

Hi, andy,

Yes, I draw trendlines on the 15 and 240min charts, and I always look at the Dailies first thing. I entered EU short very late just now, came within 1 pip of being stopped out, didn't take +15 because I thought it would make +18, stopped at b/e.. what am I on this morning !? Proper entry would have yielded +20 no problem... woudda, coudda, shoudd etc etc...

"Special sauce 1200ema" now on the Ninja chart as you can see .

Thought you were going to sit on your hands.
I too didn't take +12 convinced it was going lower. lost 10 there, but got 80 more overnight than I had planned by staying up late and moving my stop loss to lock in my target and letting it run down to 1.2818 so don't mind too much. Only small stakes at the mo while I try and take bigger targets. Still putting 20 in my tin first and that could have been halfway there. Are you getting problems with ff loading screens today?
Andy

Yes... and yesterday... and quite a lot recently, in fact.

Congrats on the +80 .

Cheers for that. Don't tell anyone but it was actually 206. locked in 126 and went to bed with tp at 2818. I was just about to take 30 coming up to midnight and it just went south. Shame it was only £1 a point.
Such a move in the asian session is causing this stagnation now perhaps.
Andy

Nice one, Andy.

So, not wanting to miss my second triple break of the morning, I placed a stop limit order at 1.2918'5 (based on a level I had drawn earlier on my 240min chart and to allow almost +20 into the break itself*, in case it rejected) and... boom, price blew straight through my level unfilled....grrrrr . VERY unusual with Interactive Brokers not to get filled.

Back to sitting on my hands...

* the best trader I know taught me to buy into critical break levels, even if only by 6 or 7 pips (much more if possible), rather than, for example, a 1 pip break of a round number like everyone else, whch gets you into trouble if there's a false breakout > reject.

I'm getting fed up with this site. Just typed a message and then tried to submit it and it's gone.

the site has been playing up for 10 hours today

VERY annoying, I agree...

still in your trade,jtrade,i got in at 1.2938 will it test 1.3000

Nice trade Andy...way to go.
Her is what missed last night. Was asleep.

Kareem - all those horizontal lines are making me dizzy..:nerd:

My first trade....lets see

I know man....I thinking dropping some of these lines.

+12 and still moving...my stop is at BE. It's a no risk trade now.

Out + 15

Hi Kareem. thanks for that. It was worth staying up late for, and a nice start to wake up to. I think the quick short you had has brought the rsi down to a longer trend line on my rsi14 that started at 2am mt4 time (gmt+1). Its taking a little bounce up again but the price is running into pivot point and daily open above. That said the rsi is till reading 61 so could go either way I feel. I had 1.2934 and hit my limit at 1.2994. I would have moved my limit but was chatting and didn't realise. Wouldn't here myself right now and would have probably got stopped out, so another lesson learnt - take it when you see it.
andy