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Weekly Trend Trading Method

  • #421
  • Dec 2, 2009 1:45pm Dec 2, 2009 1:45pm
Quoting lgtj
According to where you placed your vertical lines, I'm assuming that those were your valid signal candles. After looking at the charts I noticed a couple of things.
Eurjpy - I would consider that a risky trade because the previous four candles did not close below that resistance level that turned into support.

Eurusd - Although the trade went in your favor, you entered one candle too early because the 20 slope line was still blue at the close of that candle.

I want to make sure that every trade that you take is a high probability...

thank you i appreciate your comments and will be more carefull about setups next time i take a trade, in fact i might close the ej trade since its going against me if it closes above the slope and above the second resistance. thank you

regards
  • #422
  • Dec 2, 2009 1:54pm Dec 2, 2009 1:54pm
what do you think about gu? the indi's are all getting in line on 1h tf just 2ma crossover missing.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gud.gif Size: 23 KB
Click to Enlarge Name: gu1.gif Size: 20 KB
  • #423
  • Dec 2, 2009 2:43pm Dec 2, 2009 2:43pm
Quoting Maklla
what do you think about gu? the indi's are all getting in line on 1h tf just 2ma crossover missing.
I would not take a trade this late. Besides, price is ranging between those resistance levels according to your chart. Can you post that pivot indicator that I see on your chart? I like it.
  • #424
  • Dec 2, 2009 3:12pm Dec 2, 2009 3:12pm
Thanks for the reply about the monthly pivot, lgtj.

pipsacker
  • #425
  • Dec 2, 2009 3:22pm Dec 2, 2009 3:22pm
Quoting pipsacker
Thanks for the reply about the monthly pivot, lgtj.

pipsacker
You're welcome.
  • #426
  • Dec 2, 2009 3:36pm Dec 2, 2009 3:36pm
thanks for your thoughts.here is the indi
Attached File(s)
File Type: mq4 Fibonacci%20Pivots.mq4   5 KB | 420 downloads
  • #427
  • Dec 2, 2009 4:18pm Dec 2, 2009 4:18pm
hello lgtj,

what about this trade ?
short usdcad ?
R1 not touching..
macd red, sloope red, rsi<50..
Attached Image (click to enlarge)
Click to Enlarge Name: trade0312.jpg Size: 112 KB
  • #428
  • Dec 2, 2009 4:32pm Dec 2, 2009 4:32pm
and this one audusd for a long .. ?
perhaps the green bar macd is to far from the signal ligne..
Attached Image (click to enlarge)
Click to Enlarge Name: trade0312audusd.jpg Size: 115 KB
  • #429
  • Dec 2, 2009 5:42pm Dec 2, 2009 5:42pm
Quoting Maklla
thanks for your thoughts.here is the indi
Thanks!
  • #430
  • Dec 2, 2009 5:44pm Dec 2, 2009 5:44pm
Quoting bourseok
hello lgtj,

what about this trade ?
short usdcad ?
R1 not touching..
macd red, sloope red, rsi<50..
Draw your trend lines on the weekly chart first so that I can see where price is in relation to the trend lines. I'm still at work. I'll be leaving shortly.
  • #431
  • Dec 2, 2009 5:45pm Dec 2, 2009 5:45pm
Quoting bourseok
and this one audusd for a long .. ?
perhaps the green bar macd is to far from the signal ligne..
This one is not valid because the green macd bar is not touching or above the signal line.
  • #432
  • Dec 2, 2009 7:41pm Dec 2, 2009 7:41pm
Quoting bourseok
hello lgtj,

what about this trade ?
short usdcad ?
R1 not touching..
macd red, sloope red, rsi<50..
Look at these weekly and daily charts of usdcad. On the weekly, there is a sell arrow, the 20 slope is red for now, the rsi is below the 50, but the macd is green and above the signal line which is a buy signal. This is a sign that price is ranging. On the daily, price is ranging between resistance 1.0586 and support 1.0320. Although there is a sell signal on the daily, the weekly confirms that price is ranging on the daily. Personally, I would pass on this pair for now.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad weekly.gif Size: 31 KB

Attached Image (click to enlarge)
Click to Enlarge Name: usdcad daily.gif Size: 33 KB
  • #433
  • Dec 3, 2009 12:13pm Dec 3, 2009 12:13pm
Hello,

a question about this trade for 04/12/2009 (long eurusd)

slope is ok (green)
macd is ok green, above the signal line

what do you think about this trade and do you see an other pair with a valid signal (on the 12 others..)

thank you..
Attached Image (click to enlarge)
Click to Enlarge Name: trade0412eurusd.gif Size: 33 KB
  • #434
  • Dec 3, 2009 12:45pm Dec 3, 2009 12:45pm
Quoting bourseok
Hello,

a question about this trade for 04/12/2009 (long eurusd)

slope is ok (green)
macd is ok green, above the signal line

what do you think about this trade and do you see an other pair with a valid signal (on the 12 others..)

thank you..
Although there is a valid buy signal, look at the previous candles. Price really isn't moving after that long breakout candle a few days ago. Price is ranging right now. The macd bars are about the same height and the rsi is sort of flat which is a sign of ranging. I would stay away from this pair for now.
  • #435
  • Dec 3, 2009 2:18pm Dec 3, 2009 2:18pm
hello everyone here's the trade i took today on gu.i've just closed it for 89pips.
i like the system more every day i trade it.
thanks lgtj
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 22 KB
  • #436
  • Dec 3, 2009 2:33pm Dec 3, 2009 2:33pm
Quoting Maklla
hello everyone here's the trade i took today on gu.i've just closed it for 89pips.
i like the system more every day i trade it.
thanks lgtj
This was a perfect set up with perfect results. Great job!
  • #437
  • Dec 3, 2009 5:52pm Dec 3, 2009 5:52pm
Hi Maklla,

Nice trade! Did you compare the 1H chart to the Daily or 4H before entering?

pipsacker
  • #438
  • Dec 3, 2009 6:32pm Dec 3, 2009 6:32pm
Quoting pipsacker
Hi Maklla,

Nice trade! Did you compare the 1H chart to the Daily or 4H before entering?

pipsacker

hello
as you see on the 1H chart there is a divergence and a trendline broken of the resistance where the signal appeared for short.and on the daily chart you can see that the 1,6660 zone was a hard resistance from june. and on the othere daily chart you can see the resistances and monthly pivot res1.
this was my view.but im still in the learning process.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 22 KB
Click to Enlarge Name: gud.gif Size: 21 KB
Click to Enlarge Name: gud1.gif Size: 22 KB
  • #439
  • Dec 3, 2009 6:45pm Dec 3, 2009 6:45pm
Quoting Maklla
hello
as you see on the 1H chart there is a divergence and a trendline broken of the resistance where the signal appeared for short.and on the daily chart you can see that the 1,6660 zone was a hard resistance from june. and on the othere daily chart you can see the resistances and monthly pivot res1.
this was my view.but im still in the learning process.
Good analysis!
  • #440
  • Dec 3, 2009 7:05pm Dec 3, 2009 7:05pm
Thanks for the explanation, Maklla.

pipsacker
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