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Simple Simon Balance Line Trading

  • #881
  • Jun 21, 2011 5:44am Jun 21, 2011 5:44am
I hate stating what should be the obvious only to have price action prove me wrong! I was thinking the same thing -

Quoting Titch
I know but fingers crossed it is just a retrace to the congestion the go back with us.
  • #882
  • Jun 21, 2011 5:45am Jun 21, 2011 5:45am
Quoting Titch
I know but fingers crossed it is just a retrace to the congestion the go back with us.
Looks like it is only retesting this mornings low. Looks like a standard breakout pullback continuation pattern
Happy trading all. Titch
  • #883
  • Jun 21, 2011 5:56am Jun 21, 2011 5:56am
This is what "the edge of your seat" was built for - Yes?

Quoting Titch
Looks like it is only retesting this mornings low. Looks like a standard breakout pullback continuation pattern
  • #884
  • Jun 21, 2011 6:05am Jun 21, 2011 6:05am
Quoting Colostarr
This is what "the edge of your seat" was built for - Yes?
Thats why I stopped for lunch mate and went in the back garden to have a play with the dogs. I hate the nail biting stuff.
What did you think of my trade plan I posted this morning mate?
Just sending chart now.
Happy trading all. Titch
  • #885
  • Jun 21, 2011 6:28am Jun 21, 2011 6:28am
Loved it! I printed it and have one sitting right next to me here on the desk! Appreciate it!

As for the check list - you place the rules of any system you are using in the "System Requirements" block and follow them by that check list - yes?

Example: Simple Simon
1. Did price close above the blue line for a Buy Stop?
2. Was the closing price of the candle close to the blue line?
3. Was price in a short term trend before approaching the Blue Line?
4. Did price approach the blue line at a steep angle?

Quoting Titch
Thats why I stopped for lunch mate and went in the back garden to have a play with the dogs. I hate the nail biting stuff.
What did you think of my trade plan I posted this morning mate?
Just sending chart now.
  • #886
  • Jun 21, 2011 6:33am Jun 21, 2011 6:33am
Quoting Colostarr
Loved it! I printed it and have one sitting right next to me here on the desk! Appreciate it!

As for the check list - you place the rules of any system you are using in the "System Requirements" block and follow them by that check list - yes?

Example: Simple Simon
1. Did price close above the blue line for a Buy Stop?
2. Was the closing price of the candle close to the blue line?
3. Was price in a short term trend before approaching the Blue Line?
4. Did price approach the blue line at a steep angle?
Correct mate
I don't do a single trade without filling one in. Then at the end of the day I go through all of my trades and have a look what worked and what didn't. You will start to see patterns of what does and does not work.
Happy trading all. Titch
  • #887
  • Jun 21, 2011 6:41am Jun 21, 2011 6:41am
Just triggered in long to the AUDUSD from the 1H
  • #888
  • Jun 21, 2011 6:46am Jun 21, 2011 6:46am
EURAUD keeps testing that support level and bouncing up. Maybe if it could JUST push through it, it would tumble
  • #889
  • Jun 21, 2011 6:52am Jun 21, 2011 6:52am
Looking for AUDUSD to break today's and yesterday's high, which are almost identical.
  • #890
  • Jun 21, 2011 7:07am Jun 21, 2011 7:07am
Another look at GBP JPY trade on the 1H. I do believe I spot a pretty nice "Head and Shoulders" pattern. Anyone else see it??
  • #891
  • Jun 21, 2011 7:08am Jun 21, 2011 7:08am
Quoting Colostarr
Just triggered in long to the AUDUSD from the 1H
Hi, I am new to this thread, I just wanted to ask about trade set up, do you wait for both indicatosr to turn green the AO and AC? or is it enough with just one to turn green?

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: audusd h1.gif Size: 75 KB
  • #892
  • Jun 21, 2011 7:12am Jun 21, 2011 7:12am
Nice head and shoulders pattern

Of course now that I post it, price will go the other way and wipe it out
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 38 KB
  • #893
  • Edited 7:28am Jun 21, 2011 7:17am | Edited 7:28am
Quoting Colostarr
Another look at GBP JPY trade on the 1H. I do believe I spot a pretty nice "Head and Shoulders" pattern. Anyone else see it??
There is an inverse head and shoulders on H1 and a strong SR at 130.30. Price rejecting to go below today's pivot at 129.80. Since there is absolutely no momentum on USDJPY, its move totally depends on GBPUSD. When US markets are opened in an hour (approx.), we may see some momentum.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-h1.jpg Size: 122 KB
  • #894
  • Jun 21, 2011 7:19am Jun 21, 2011 7:19am
Quoting Colostarr
Another look at GBP JPY trade on the 1H. I do believe I spot a pretty nice "Head and Shoulders" pattern. Anyone else see it??
Hi, i see it too. shoulders at 130.35.
  • #895
  • Jun 21, 2011 7:47am Jun 21, 2011 7:47am
I actually did see the larger picture inverse head and shoulders before I saw the more immediate one. Appreciate the contradiction.


Quoting Blackeagle
There is an inverse head and shoulders on H1 and a strong SR at 130.30. Price rejecting to go below today's pivot at 129.80. Since there is absolutely no momentum on USDJPY, its move totally depends on GBPUSD. When US markets are opened in an hour (approx.), we may see some momentum.
  • #896
  • Jun 21, 2011 7:50am Jun 21, 2011 7:50am
H&S

Quoting Colostarr
I actually did see the larger picture inverse head and shoulders before I saw the more immediate one. Appreciate the contradiction.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 39 KB
  • #897
  • Jun 21, 2011 7:51am Jun 21, 2011 7:51am
Flat top triangle forming on the 1hr. Dancing around the balance line.
Happy trading all. Titch
  • #898
  • Jun 21, 2011 8:08am Jun 21, 2011 8:08am
Quoting Titch
Flat top triangle forming on the 1hr. Dancing around the balance line.
Yes, as long as price stays below 0.8455-60, bias is definitely down.
  • #899
  • Jun 21, 2011 8:14am Jun 21, 2011 8:14am
Quoting Blackeagle
Yes, as long as price stays below 0.8455-60, bias is definitely down.
I will only jump in if it breaks this mornings low.
Happy trading all. Titch
  • #900
  • Jun 21, 2011 8:47am Jun 21, 2011 8:47am
Have I mentioned I hate days like today?
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