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Simple Simon Balance Line Trading

  • #1,781
  • Jun 30, 2011 3:15pm Jun 30, 2011 3:15pm
what is wrong?
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  • #1,782
  • Jun 30, 2011 4:37pm Jun 30, 2011 4:37pm
GBPUSD, possible setup on H1, right?
  • #1,783
  • Jun 30, 2011 4:54pm Jun 30, 2011 4:54pm
Eur/Aud looks solid as a bounce trade on the hourly timeframe. I think I'll start posting potential setups that I see 5 to 10 minutes before the hour closes up.
I dream, therefore I become.
  • #1,784
  • Jun 30, 2011 5:01pm Jun 30, 2011 5:01pm
I figures that since major resistance is already below it will move higher.
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  • #1,785
  • Jun 30, 2011 5:39pm Jun 30, 2011 5:39pm
earlier trade on 15m, eurusd long exit +30, closed +0.
  • #1,786
  • Jun 30, 2011 7:06pm Jun 30, 2011 7:06pm
Taking trades on 1H TF only (Live acc).
OK busy day ... have taken the earlier trade on GU Long , got out off that one on moved SL + 7pips for which I am glad because since that turn it did "tanked".
Now I am angry at myself because I missed the nice set up on GU - if I'd been here just 15min earlier (got stacked in highway traffic hehe).
Well I missed it and I was not going to chase it.
Don't that make you guys angry when you miss a perfect set up?

Hmmm - my work in "Paint" is not gonna end up in some art gallery that is for sure, sorry just not use to using it so I'm not sure what I'm doing.
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  • #1,787
  • Jun 30, 2011 7:28pm Jun 30, 2011 7:28pm
Quoting paul56
Taking trades on 1H TF only (Live acc).
OK busy day ... have taken the earlier trade on GU Long , got out off that one on moved SL + 7pips for which I am glad because since that turn it did "tanked".
Now I am angry at myself because I missed the nice set up on GU - if I'd been here just 15min earlier (got stacked in highway traffic hehe).
Well I missed it and I was not going to chase it.
Don't that make you guys angry when you miss a perfect set up?

Hmmm - my work in "Paint" is not gonna end up in some art gallery that is for sure, sorry just...
I saw that trade too but passed on it. It was too close to call IMO. BUT...I just started with this system so I'm a little green.
FxRex Fact #143: I can run really fast.
  • #1,788
  • Jun 30, 2011 8:51pm Jun 30, 2011 8:51pm
EUR/USD 1H and 15min.
We may have potential bounce trade developing.
On 15min if price continues "hugging" the trend line and later closes above Blue Balance Line (consider position of lime green 50ma at that time) we may get a valid Bounce Trade Signal. Let's see what happens.
This is low volatility time as well so it's anyone's guess. Not exactly in line with rules so definitely I would not set trade based just on 15min TF action.
Or am I just "seeing things"?
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  • #1,789
  • Jun 30, 2011 9:42pm Jun 30, 2011 9:42pm
The 1 hour chart looks good for a long setup.I will enter my buy stop and see what happens.
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  • #1,790
  • Jun 30, 2011 9:43pm Jun 30, 2011 9:43pm
Hi Colostarr,

In 15M TF the EU is bouncing south from the Blue line and at the same time in the 1H TF it is approaching towards the blue line. Already in the previous 1H TF, candle pierce through it but closes above the blue line. In this scenario long or short is ideal or to wait for the close of the current candle.

Thanks in advance.
  • #1,791
  • Jun 30, 2011 9:45pm Jun 30, 2011 9:45pm
Quoting mgs1f
I figures that since major resistance is already below it will move higher.
Now that I have profit I have set a stop below resistance. Still holding target and trade. Will sell when upper resistance is formed.
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  • #1,792
  • Jun 30, 2011 11:47pm Jun 30, 2011 11:47pm
eurusd short entry closed -5, long entry on 15m
  • #1,793
  • Jul 1, 2011 1:04am Jul 1, 2011 1:04am
Anyone else looking at a long GBP/AUD on H1 setup?
  • #1,794
  • Jul 1, 2011 1:35am Jul 1, 2011 1:35am
Quoting pipdude
eurusd short entry closed -5, long entry on 15m
Hi Pipdude,

Are you trading with the same rules as per post 1 on 15 min time frame if so could you please let us know the outcome. Iam interested on how this strategy goes with smaller timeframes.
  • #1,795
  • Jul 1, 2011 1:54am Jul 1, 2011 1:54am
well for what it's worth I've given up on M15 other than for a scalp. Too much noise which is always the problem with lower timeframes.
  • #1,796
  • Jul 1, 2011 2:42am Jul 1, 2011 2:42am
Quoting netwatchpips
Hi Pipdude,

Are you trading with the same rules as per post 1 on 15 min time frame if so could you please let us know the outcome. Iam interested on how this strategy goes with smaller timeframes.
will do...roger that, there was a 60m long triggered as well, i don't use the 15m to scalp, just to get in a little earlier.
  • #1,797
  • Jul 1, 2011 4:06am Jul 1, 2011 4:06am
15m eurusd long, 1/4 exit +30, 1/4 exit +40, 1/4 exit +0, reentry long on 15m
  • #1,798
  • Jul 1, 2011 4:39am Jul 1, 2011 4:39am
balance line holding support on eurusd 60m

closed out 15m positions +0
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  • #1,799
  • Jul 1, 2011 6:26am Jul 1, 2011 6:26am
Good afternoon everyone! Sorry for my absenteeism but I've been a little busy!

What have I missed?
  • #1,800
  • Jul 1, 2011 6:28am Jul 1, 2011 6:28am
Hi Colo - well you've come back to find a red candle right on the balance line on H1
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