DislikedJust entred long on usd chf. My first trade according to this system. Let us see how it goes.Ignored
That looks like a good entrance in hindsight.
I would be looking for TP around 11423 area.
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DislikedJust entred long on usd chf. My first trade according to this system. Let us see how it goes.Ignored
DislikedHi Holmes,
In answer to your question I would wait for another valid signal before I would enter again.
Also in regard to stops it is always good to look at other s/r as potential stop points as long as they are int he vacinity of the low of the indicating candle.Ignored
Dislikedhi acartwright, just a general question. when looking for s&r, what's the best time frame chart to look at? cos am still not confident in own s&r levels. tks.Ignored
DislikedI tend to use 1 hour time frame.
I simply zoom out so I can get a clearer picture of where the s/r points are likely to be.
This is in conjunction with also using trendlines.Ignored
Dislikedhi acartwright. just seeking your opinion in euro.
on 1 hr euro, there is dmi crossover with macd line above signal line....just awaiting adx to increase from previous bar to signal entry.
adx has declined from high of 44 to now abt 34 & euro traded today to low of 1.3212 & recovered to trade near 1.3400.
from your experience, if adx does increase afterwards to say 35 (high value) ....would you be hesitant to enter trade? or look at entry bar to see what kind of range it has? tks & sorry for the trouble.
am not good with s&r but from glance...Ignored
DislikedHi holmes,
I am always careful when ADX turns from a high position - this is due to the ADX only having a certian amount of room to increase.
In regard to the eur/usd it is currently at what I would call a resistance point at 13385.
Also ADX has not turned round as yet.Ignored
Dislikedjust fyi....on euro 1 hr bar, -dmi>+dmi 23 vs 14.3, adx rose just modestly to 22.11 from 21.91 after declining from highs of 30s. entry short 1.3338 stop 1.3357 (1 pip above entry bar high). was stopped out within half an hour. maybe shld have placed stop higher near res level 1.3388-93? or maybe shldnt have entered cos euro ppi looming.Ignored
DislikedHi holmes,
It is hard to say whether or not to enter on this set up.
There is support around the 13325 area - also the overall trend is up so it could have been a retracement of notable value that changed the indicators to show a sell signal.
It is just one of those that loses unfortunately.
Keep an eye out for a long set up on this pair.Ignored
Disliked1 hr euro, dmi crossover....+dmi>-dmi, 27.6 v 15.5. adx also increased but just modestly from 27.5 to 27.6 (after declining from 43). macd line also above signal. entry 1.3359 stop 1.3309. however, range of bar is almost 65 pips. so not taking trade yet. maybe if it retraces to 1.3335/40 level.Ignored
DislikedHi holmes,
I looked at this one but stayed out as price was coming to the 13375 area and noticed some resistance at thispoint..Ignored
DislikedHello Acartwright,
Thank you for sharing your trading strategy. I am currently looking at the GBPUSD chart and there seems to be a valid sell signal. Please confirm. This will allow me to see if I understand your strategy. Thank you.
fxpilotIgnored
DislikedHi fxpilot,
There did seem to be a signal generated on the GBPUSD.
However the candle that gave the signal had a higher high and a higher low so I would be staying away from that one.Ignored
Dislikedhi acartwright,
does a higher hi & higher lo means buying momentum still strong?
most of the time, with your method, it's buying in a rally for further strengthening & selling in a sell-off for further exhaustion....is observation correct?
tks....Ignored
DislikedHi holmes,
This comment was in a response to the system showing a sell on GBPUSD.
The indicating candle has a higher high and a higher low which would represent the start of a move long.
As a result I would not have taken the sell signal the system produced.Ignored