Price has just arrived to it`s border line. Break of it would be welcome to euro bulls and not breaking just a continuation of down trend, which stil is in place for now. Just some foughts for myself.
Price has just arrived to it`s border line. Break of it would be welcome to euro bulls and not breaking just a continuation of down trend, which stil is in place for now. Just some foughts for myself.
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No no no it is just a little bit more it needs to climb. It also needs to break the daily trendline, which is usually broke when price break the average and then the next coming swing(acording to my rules). It looks like I am fiting my strategy to the market and usually it is not a good thing. But I will add this to the rules.
So when the trend line is broken with a daily bar, you close your shorts? Right?
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Yes, but I look first for average and the next coming swing to be broken. The trendline is as confirmation in this case. And sometimes it can be broken earlier then the swing and in that case I would wait for the swing. I added the trendline only now to the rules. But it seems very naturaly to fit in and also very important.
average , swing and the trendline is broken now so it is an oficiall change of long term sentiment from bears to bulls now. And a long position for IInd mode of my long term strategy.
The last trend did not last very long and my strategy again says sell sell sell. The previous uptrend if to follow the rules and to use only one initial position brought only 70 pips of profit(it was over 700 pips in profit). Thats becose I go for much bigger profits. Now we have the daily candle closed below the swing low after the price crossing the ema and it is oficially a confirmed start of the daily down trend.Let`s see what it brings after some months or maybe years...or days.
The last trend did not last very long and my strategy again says sell sell sell. The previous uptrend if to follow the rules and to use only one initial position brought only 70 pips of profit(it was over 700 pips in profit). Thats becose I go for much bigger profits. Now we have the daily candle closed below the swing low after the price crossing the ema and it is oficially a confirmed start of the daily down trend.Let`s see what it brings after some months or maybe years...or days.
Thanks for support, much apreciated. I am going to add something in to the trading rules very soon, it will not change the old ones just I will be adding more in to the trend when it developes.
The last bear trend didn`t managed to develope and now it is again time for bulls. Last initial position was closed for 182 pips loss, also I had some another smaller positions I added at some moment. Anyway it didn`t work out as well. But it is just a small losses compared to what a trend can and will bring sooner or later.. BTW I never know what I will get from the market when I start opening positions, but I like this time signal becose you see there is a higher low before the price closed above the swing, very classical picture HL HH .
So bulls didn`t give up and are here again at this resistance, I do expect it to pass through this time more seriously, after this temporary drawdown.. but never know, anyway I am bullish until the oposite is prooven.
So bulls didn`t give up and are here again at this resistance, I do expect it to pass through this time more seriously, after this temporary drawdown.. but never know, anyway I am bullish until the oposite is prooven.
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I like when the market does what it says, looking forward for a good trend to develoup and to add to it farther, but who really knows how long it will last... so I can only follow it.
I just wonder where price is heading on a higher time frame. That descending trendline could be very realistic, when we see this strength at the moment. But really who knows?
Even though I hold the positions as long as the trend is in tact, I desided sometimes to manage some part of my positios(1/4- 1/3) more actively. So as price couldn`t go through the 1.4 level I closed 1/3 of my positions and profits, and will try to reenter at a better price if it comes more down. I closed at 1.3926. Somehow I didn`t expect this level (1.4)as strong resistance even though such round numbers usually are. 1.4200 could be much stronger when/if it breaks above 1.4 . At least to retest 1.4 for.
btw this trend is amasing, my positions already was over 300 persent in profit.
Hey Saintsurfer good to see you here. I spoke with you on the trend thread. I trade very simular to you I use the 30 and 50 sma as a channel to guide me as to direction. I use 4 hour and daily charts mostly although the channel works on all time frames. IF it below 30 then no longs if it is above 30 then no shorts.I look for bounce from 50 both ways. Look at the thread for Hector I think his handle is WTD. He is a full time trader and sells a small course for newbies. Are you still bias long? regards MR D
Hey Saintsurfer good to see you here. I spoke with you on the trend thread. I trade very simular to you I use the 30 and 50 sma as a channel to guide me as to direction. I use 4 hour and daily charts mostly although the channel works on all time frames. IF it below 30 then no longs if it is above 30 then no shorts.I look for bounce from 50 both ways. Look at the thread for Hector I think his handle is WTD. He is a full time trader and sells a small course for newbies. Are you still bias long? regards MR D
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Hi Mr D. yes I am still to the up side and no signs to close the main part yet. But I am planing to close one third of the positions at 1.4200 and to open again at a better price if posible, if not not. The previous closing and opening at a better price worked I would say ok. I opened at a better price at 1.3850 and 1.3800 but a little bit smaller amount. In count of profits it is like I haven`t done anything, just lowered the risk a little bit.
HI Saintsurfer, I have been more of a swing trader and am trying to become more of a position type trader. I exited my 2 day old trade yesterday but re entered last night with a smaller risk so I can possibly follow the market and add to it as pull backs occur.It finally broke out well above 1.400. I will use a re cross of the sma as my exit. good luck my friend MR D
Hi Mr D. yes I am still to the up side and no signs to close the main part yet. But I am planing to close one third of the positions at 1.4200 and to open again at a better price if posible, if not not. The previous closing and opening at a better price worked I would say ok. I opened at a better price at 1.3850 and 1.3800 but a little bit smaller amount. In count of profits it is like I haven`t done anything, just lowered the risk a little bit.
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Now that price didn`t managed to get to 1.4200 and retraced from the 14100 level, I am not going to cloce anything if/when price do come to the 1.4200 level. As it probably may go much easier through it if it goes higher. Just my thoughts for now.
I closed about 20 persent of my exposure as for now I only see weekness on the chart. Also some smaller part,- about 10 persent will be closed out if market goes some more down.Anyway the main part will be left as long as the trend is up. But if/when it breaks up the 1.4100 level(as it seems hard to break through) a good and sudden move up could happen, which wouldn`t surprise me at all. Now I am lowering the risk nothing else.
I closed about 20 persent of my exposure as for now I only see weekness on the chart. Also some smaller part,- about 10 persent will be closed out if market goes some more down.Anyway the main part will be left as long as the trend is up. But if/when it breaks up the 1.4100 level(as it seems hard to break through) a good and sudden move up could happen, which wouldn`t surprise me at all. Now I am lowering the risk nothing else.
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Saint...this is sweet...thanks.
Have you tried this on any smaller time frames? Also, on any other pairs?
