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Simple Simon Balance Line Trading

  • #41
  • Jun 7, 2011 5:21am Jun 7, 2011 5:21am
No worries - stick around. I have a trade open just now and will post as I progress through it. USDCHF - moving REALLY slow today!

Quoting 4Xfactor
I hope by now that I can identify a trend But I was just a little confused by your correction/counter trades I suppose, in light of your earlier statement, that is.

Anyway, thanks very much for the clarification.

Regards,
  • #42
  • Jun 7, 2011 6:41am Jun 7, 2011 6:41am
Strong support at .8326. Trade bounced off support and closed at BE. Hunting for new entry opportunity!
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 35 KB
  • #43
  • Jun 7, 2011 7:44am Jun 7, 2011 7:44am
USDCHF looks to bounce off the blue line here. I like this because of the very large downward trend.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 37 KB
  • #44
  • Jun 7, 2011 8:27am Jun 7, 2011 8:27am
Price broke the blue line going north - I am deleting pending sell stop.

Quoting Colostarr
USDCHF looks to bounce off the blue line here. I like this because of the very large downward trend.
  • #45
  • Jun 7, 2011 8:34am Jun 7, 2011 8:34am
Simple, yet effective trading strategy. Placed buy trades on GBPUSD and GBPCHF today. Both trades closed for + 25 pips each a total of 50 pips. Signing up.
  • #46
  • Jun 7, 2011 8:47am Jun 7, 2011 8:47am
Quoting Colostarr
Price broke the blue line going north - I am deleting pending sell stop.

Hi Colostarr,

Like the simplicity. Even though USDCHF in in a major downtrend, on 1 hour chart if current candle closes above the Balance Line... would you buy?

Keeping it simple. However, looking at the big picture there is 4 & 1 hour divergence. This will further support a buy should USDCHF hourly candle close above the Balance Line. What are your thoughts?

www.forexnetworth.blogspot.com
  • #47
  • Jun 7, 2011 8:55am Jun 7, 2011 8:55am
Hey Colostarr,

do you have special trading times or would you enter a trade at anytime?

Cheers,
Olarion
  • #48
  • Jun 7, 2011 5:32pm Jun 7, 2011 5:32pm
usdcad closed short
Attached Image (click to enlarge)
Click to Enlarge Name: abo.gif Size: 13 KB
  • #49
  • Jun 7, 2011 6:37pm Jun 7, 2011 6:37pm
colostarr,

i put in ma cross color bars, so as to see clearly eurusd hourly uptrend, buy when price crosses above balance line. of course, you never know when this pattern of upward movement will end.
Attached Image (click to enlarge)
Click to Enlarge Name: abo.gif Size: 18 KB
  • #50
  • Jun 7, 2011 6:46pm Jun 7, 2011 6:46pm
colostarr,

same here with usdchf, but looks like we're running into some congestion here, possible correction forming.
Attached Image (click to enlarge)
Click to Enlarge Name: abo.gif Size: 19 KB
  • #51
  • Jun 7, 2011 6:52pm Jun 7, 2011 6:52pm
colostarr,

nice run on eurgbp. it looks like your balance line holds trends well on the hourly.
Attached Image (click to enlarge)
Click to Enlarge Name: abo.gif Size: 21 KB
  • #52
  • Jun 7, 2011 7:13pm Jun 7, 2011 7:13pm
Do you have the ma cross indicator, and could you share it?
  • #53
  • Jun 7, 2011 8:20pm Jun 7, 2011 8:20pm
Quoting jrushing
Do you have the ma cross indicator, and could you share it?
i'd be happy to post this indi, but i need to know how colostarr feels about posting other indi's on this thread.

colostarr, what are your thoughts on this?
  • #54
  • Jun 7, 2011 9:54pm Jun 7, 2011 9:54pm
Awesome - the intent here is post your charts with the result of your trades as they happen! Welcome aboard!

Quoting forexnetworth
Simple, yet effective trading strategy. Placed buy trades on GBPUSD and GBPCHF today. Both trades closed for + 25 pips each a total of 50 pips. Signing up.
  • #55
  • Jun 7, 2011 9:56pm Jun 7, 2011 9:56pm
I actually did take the long - got 17 pips from it! Thank you for the input

Quoting forexnetworth
Hi Colostarr,

Like the simplicity. Even though USDCHF in in a major downtrend, on 1 hour chart if current candle closes above the Balance Line... would you buy?

Keeping it simple. However, looking at the big picture there is 4 & 1 hour divergence. This will further support a buy should USDCHF hourly candle close above the Balance Line. What are your thoughts?

www.forexnetworth.blogspot.com
  • #56
  • Jun 7, 2011 9:59pm Jun 7, 2011 9:59pm
If the volume is low I won't enter. Another good aspect to look at is the angle at which price approaches the blue line. If the angle is steep and volume is high, I almost always enter. If the angle is low (like riding just above or below it) I ignore it.

Hope this helps!

Quoting Olarion1975
Hey Colostarr,

do you have special trading times or would you enter a trade at anytime?

Cheers,
Olarion
  • #57
  • Jun 7, 2011 10:01pm Jun 7, 2011 10:01pm
Pipdude,
Thank you for all of your contributions. Thank you for asking about posting indicators in this forum. I have no problems with indicators, just don't like EA's. Post away brother!

Quoting pipdude
colostarr,

i put in ma cross color bars, so as to see clearly eurusd hourly uptrend, buy when price crosses above balance line. of course, you never know when this pattern of upward movement will end.
  • #58
  • Jun 7, 2011 10:03pm Jun 7, 2011 10:03pm
It also holds trends well on the 4H. Great observation!

Quoting pipdude
colostarr,

nice run on eurgbp. it looks like your balance line holds trends well on the hourly.
  • #59
  • Jun 7, 2011 10:13pm Jun 7, 2011 10:13pm
I've had 1 order trigger (USDCAD) and another order, which is kind of iffy, on GBPUSD. Both are posted

USDCAD currently down 10 pips in at .97930
GBPUSD pending - stop order placed at 1.6398 (iffy)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 41 KB
Click to Enlarge Name: usdcad.gif Size: 38 KB
  • #60
  • Jun 7, 2011 11:15pm Jun 7, 2011 11:15pm
Down 15 pips, hanging on that support

Quoting Colostarr
I've had 1 order trigger (USDCAD) and another order, which is kind of iffy, on GBPUSD. Both are posted

USDCAD currently down 10 pips in at .97930
GBPUSD pending - stop order placed at 1.6398 (iffy)
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