Simple Simon Balance Line Trading | Page 61 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

SIMPLE EA for a simple method needed!! 2 replies

Trading is this Simple? Finally Explained simple and clearly! 46 replies

My way of trading by Using trend line , BL line & febo level 76 replies

Simple Horizontal Line Trading H1 87 replies

Programmers: Simple SendMail Line. Please Help 15 replies

Attachments: Simple Simon Balance Line Trading
Exit Attachments

Simple Simon Balance Line Trading

  • #1,201
  • Jun 24, 2011 1:13am Jun 24, 2011 1:13am
EU - let's see if 50 MA holds this fall
  • #1,202
  • Jun 24, 2011 1:16am Jun 24, 2011 1:16am
got short signals showing on my M15 and H1 charts now
  • #1,203
  • Jun 24, 2011 1:17am Jun 24, 2011 1:17am
perhaps I'd better change back to traditional candles otherwise above post may be meaningless to everyone else
  • #1,204
  • Jun 24, 2011 1:19am Jun 24, 2011 1:19am
Hi Rick, here is the chart where EUR/USD is forming head and shoulder.
Let'see how is it gonna turn out.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 23 KB
  • #1,205
  • Jun 24, 2011 1:20am Jun 24, 2011 1:20am
Concur - Daily pivot point at 1.4240. I set my sell stop 6 pips below pivot (1.4234)

Quoting handy148
got short signals showing on my M15 and H1 charts now
  • #1,206
  • Jun 24, 2011 1:23am Jun 24, 2011 1:23am
Southbeach - good stuff. I am glad you posted a chart because I couldn't find it.

Not a traditional head and shoulders (at least not from my opinion!) but I think an argument could be made that you are on the right track!

Thank you!

Quoting southbeach
Hi Rick, here is the chart where EUR/USD is forming head and shoulder.
Let'see how is it gonna turn out.
  • #1,207
  • Jun 24, 2011 1:26am Jun 24, 2011 1:26am
I get Sive Morton's analysis everyday. Click the link below. Good stuff

http://www.forexpeacearmy.com/forex-...24-2011-a.html
  • #1,208
  • Jun 24, 2011 1:28am Jun 24, 2011 1:28am
Quoting Colostarr
Southbeach - good stuff. I am glad you posted a chart because I couldn't find it.

Not a traditional head and shoulders (at least not from my opinion!) but I think an argument could be made that you are on the right track!

Thank you!
Well, if it crosses the resistance line"green line on top" after balance line, then it is not what I have in mind. : )
  • #1,209
  • Jun 24, 2011 1:28am Jun 24, 2011 1:28am
GU triggered short 15tf
  • #1,210
  • Jun 24, 2011 1:30am Jun 24, 2011 1:30am
Its anyone's guess brother. If we all knew without a doubt which way price is going 100% of the time, I think we would all be bankers!!

Quoting southbeach
Well, if it crosses the resistance line"green line on top" after balance line, then it is not what I have in mind. : )
  • #1,211
  • Jun 24, 2011 1:38am Jun 24, 2011 1:38am
GU stop moved to Break even
  • #1,212
  • Jun 24, 2011 1:41am Jun 24, 2011 1:41am
EU triggered short off the daily pivot
  • #1,213
  • Jun 24, 2011 1:44am Jun 24, 2011 1:44am
whooo that's a big red M15 candle
  • #1,214
  • Jun 24, 2011 1:45am Jun 24, 2011 1:45am
German Ifo Business Climate news release at 0800 GMT. Lets hope it is inline with the daily bias!
  • #1,215
  • Jun 24, 2011 1:46am Jun 24, 2011 1:46am
and it closed just below the daily pivot

Quoting handy148
whooo that's a big red M15 candle
  • #1,216
  • Jun 24, 2011 1:47am Jun 24, 2011 1:47am
Good morning everyone

today morning i was so excited as I saw the balance line dashboard. so many pairs were close to the BL. I placed many stop orders in short time. After normalizing my emotions and reanalyzing the charts I realisized that all the orders I placed donīt fullfill the conditions in the first post. Thank God no one of them was triggered.

To avoid such a too hasty actions in the future I think the idea of a trade plan from Neil would help. So here is the list of all requirements. If someone thinks that one requirement is missed on my list, feel free to add to. (sorry if my english sounds somehow weird or unpolite, not my purpose, im not a native speaker and was bad in school, hope you understand what i mean)

So now here is the list of all requirements

 

  1. Price crosses Balance Line and closes above[below] it. Possible Setup for buy [sell].
  2. The Closing Price is close to Balance Line: < 10 pips
  3. The angle is steep.
  4. Balance Line is not flat.
  5. There is a short term trend.
  6. The 50 sma is below [above] the Balance Line.
  7. No critical Support and Resistance Levels on higher timeframe in the near
  8. No News

  • #1,217
  • Jun 24, 2011 1:47am Jun 24, 2011 1:47am
Morning Rick
Both e/u and G/u triggered for shorts, but London opens in 15 mins and without sounding too cautious, Would it be better to wait to see if that has an adverse effect?
Ihave put so many trades on in past before Lon and saw them reverse so many times, am I just too anal lol
hope you well brother

Tom
  • #1,218
  • Jun 24, 2011 1:49am Jun 24, 2011 1:49am
Next resistance from the GU is the 1H fib level 0.0 (1.5936)
  • #1,219
  • Jun 24, 2011 1:50am Jun 24, 2011 1:50am
That is completely up to you brother. Currently have stop at BE for GU, watching EU

Quoting booktimes
Morning Rick
Both e/u and G/u triggered for shorts, but London opens in 15 mins and without sounding too cautious, Would it be better to wait to see if that has an adverse effect?
Ihave put so many trades on in past before Lon and saw them reverse so many times, am I just too anal lol
hope you well brother

Tom
  • #1,220
  • Jun 24, 2011 1:52am Jun 24, 2011 1:52am
Good Stuff Rick,
german ifo at 9.00 UK time, not 8.00
you trade like silk my friend

Tom
0 traders viewing now