Daily Chart w/ 10sma | Page 39 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

10sma on Weekly Chart System 40 replies

Trading with a 10SMA 4 replies

What is the difference between an "interday" chart and "intraday" chart? 2 replies

1 bar in 1H chart = how many bar in 5min chart? 3 replies

gbpjpy tick chart difference with 5m chart 0 replies

Attachments: Daily Chart w/ 10sma
Exit Attachments

Daily Chart w/ 10sma

  • #761
  • Mar 4, 2012 11:13pm Mar 4, 2012 11:13pm
Too much resistance on the GU trade.

Decided to close and look for a better trade.

+17.3 pips

Cheers,
Miike
  • #762
  • Mar 5, 2012 1:27am Mar 5, 2012 1:27am
HI Miike,

Hopefully, not my disturbance to make you close it.

Since this thread is on daily candle, besides i learned many times "plan the trade, trade the plan"

A close during the middle day would be a bit hurry from my point of view, IMHO.

This would make me to ask again, BKG, will you please mind to summarize an exit guideline? This would be a great help to the common level trader like me.

Thanks in advance!

B.R.
Raymond


Quoting miike
Too much resistance on the GU trade.

Decided to close and look for a better trade.

+17.3 pips

Cheers,
Miike
Outcome is not important at all, but correct technique is what only matters
  • #763
  • Mar 5, 2012 2:33am Mar 5, 2012 2:33am
Quoting szpowerx
HI Miike,

Hopefully, not my disturbance to make you close it.

Since this thread is on daily candle, besides i learned many times "plan the trade, trade the plan"

A close during the middle day would be a bit hurry from my point of view, IMHO.

This would make me to ask again, BKG, will you please mind to summarize an exit guideline? This would be a great help to the common level trader like me.

Thanks in advance!

B.R.
Raymond
Thanks for the consideration...

Decision was based on further analysis and a strong support holding up. Decided it was best to close in profit than hit my stop.

Waiting on a better opportunity.

All the best!

Cheers,
Miike
  • #764
  • Mar 5, 2012 5:41am Mar 5, 2012 5:41am
I know this is a bit earlier, not close yet.

But can we assume it would be closed below 10sma?

66.65 is a big support in weekly, if you enter now, you have to take the risk for short at support

However, looks like deserve a try, 1st target: 65 2nd target 63.5
Attached Image (click to enlarge)
Click to Enlarge Name: nj_d.gif Size: 10 KB
Outcome is not important at all, but correct technique is what only matters
  • #765
  • Mar 5, 2012 7:04am Mar 5, 2012 7:04am
Quoting szpowerx
I know this is a bit earlier, not close yet.

But can we assume it would be closed below 10sma?

66.65 is a big support in weekly, if you enter now, you have to take the risk for short at support

However, looks like deserve a try, 1st target: 65 2nd target 63.5
DO NOT enter this trade until the candle closes. There is no reason to go short here. Chances are price will back up closer to the 10sma. PATIENCE!!
Please ask questions and share your experiences with us all!
  • #766
  • Mar 5, 2012 7:52am Mar 5, 2012 7:52am
Quoting szpowerx
I know this is a bit earlier, not close yet.

But can we assume it would be closed below 10sma?

66.65 is a big support in weekly, if you enter now, you have to take the risk for short at support

However, looks like deserve a try, 1st target: 65 2nd target 63.5
I would like to echo what BK has said. Keep to the system. All the yen pairs are reversing and you most certainly will get a better price if you wait. If 'risk' comes into the market who knows you might want to pass on this trade. The candle must close before any trade decisions are made. If you have another system that says sell then by all means sell. But this thread's system is giving just the amber light not green to sell...

Olu
If you think you can or cannot do it you are correct
  • #767
  • Mar 5, 2012 7:59am Mar 5, 2012 7:59am
Yes, thanks BKG.

Too risk to open an entry before daily candle close. No need to take this kind of risk at all.

And keep to the system is important, thanks Olu.

B.R.
Raymond
Quoting bkg102665
DO NOT enter this trade until the candle closes. There is no reason to go short here. Chances are price will back up closer to the 10sma. PATIENCE!!
Outcome is not important at all, but correct technique is what only matters
  • #768
  • Mar 5, 2012 8:06am Mar 5, 2012 8:06am
Quoting miike
Too much resistance on the GU trade.

Decided to close and look for a better trade.

+17.3 pips

Cheers,
Miike
Mike where did you see the too much resistance that you were talking about
which made you close the trade
  • #769
  • Mar 5, 2012 8:32am Mar 5, 2012 8:32am
Quoting don555
Mike where did you see the too much resistance that you were talking about
which made you close the trade
This is traffic, resistance, consolidation, all the above. It may go below this area but it will struggle to do so probably. We must be able to recognize this on a chart.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd0304.gif Size: 29 KB
Please ask questions and share your experiences with us all!
  • #770
  • Edited 10:15am Mar 5, 2012 9:58am | Edited 10:15am
Quoting bkg102665
This is traffic, resistance, consolidation, all the above. It may go below this area but it will struggle to do so probably. We must be able to recognize this on a chart.
On your chart you have a major event area marked in blue 1.56801 which is about 150 pips away when you came out.
What I am trying to get at is why did you come out when you did.
I was in this trade also and came out not long after you.


bkg sorry I thought I was responding to mike but you can carry on explaining if you dont mind.

So if a 10sma cross is in a consilidation channel are we better to leave it well alone.
  • #771
  • Mar 5, 2012 10:29am Mar 5, 2012 10:29am
Quoting don555
On your chart you have a major event area marked in blue 1.56801 which is about 150 pips away when you came out.
What I am trying to get at is why did you come out when you did.
I was in this trade also and came out not long after you.


bkg sorry I thought I was responding to mike but you can carry on explaining if you dont mind.

So if a 10sma cross is in a consilidation channel are we better to leave it well alone.
I am going to take a guess here and say he saw something on a smaller time frame chart that he did not like. Here is a shot of a 1h chart that may have changed his mind.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd0304.gif Size: 25 KB
Please ask questions and share your experiences with us all!
  • #772
  • Mar 5, 2012 2:59pm Mar 5, 2012 2:59pm
BH or some one..i need your help... i believe i must have the charts open before i get the alert. i need the the pairs.your ind is monitoring PLease..........thanks texan
  • #773
  • Mar 5, 2012 3:52pm Mar 5, 2012 3:52pm
Really enjoying this thread thanks BKG for starting and sharing great stuff here are some trades I took last night on the open

EUR/JPY: closed below 10sma started as a good winner but retraced as has been mentioned obviously not liking the look of the candle now so may close this for small profit due to the correlation as well.

NZU/USD Long candle that closed below nearly a BEOB so could have looked for the retrace but got in short liked the fake out at the top as well looking to trade it down to the 200ma

GBP/USD - been discussed earlier hit support now gone in the red

AUD/USD - same as NZD
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AU.jpg Size: 285 KB
Click to Enlarge Name: EJ.jpg Size: 288 KB
Click to Enlarge Name: GU.jpg Size: 294 KB
Click to Enlarge Name: NU.jpg Size: 292 KB
  • #774
  • Mar 5, 2012 4:08pm Mar 5, 2012 4:08pm
got shot signal for AUDUSD today.
Follow me to the Promised Land
  • #775
  • Mar 5, 2012 4:49pm Mar 5, 2012 4:49pm
Anyone thinking of a long on USD/CAD? looks alright to me
  • #776
  • Mar 5, 2012 4:53pm Mar 5, 2012 4:53pm
Short entry on the above pair appears far too early. Support not cleared and a sideways 200 SMA.

Good luck, anyway!
  • #777
  • Mar 5, 2012 4:55pm Mar 5, 2012 4:55pm
Quoting cmmichaels
Anyone thinking of a long on USD/CAD? looks alright to me
I do looks very promising a 100 pip move up to 1,0050 resistance

swing it!
  • #778
  • Mar 5, 2012 4:58pm Mar 5, 2012 4:58pm
Quoting tomspin
I do looks very promising a 100 pip move up to 1,0050 resistance

good shout just on the 200sma I'm going in if we get the right close good luck mate.
  • #779
  • Mar 5, 2012 5:00pm Mar 5, 2012 5:00pm
Also GBP/CAD another 100 pipper in the making
Attached Image (click to enlarge)
Click to Enlarge Name: gbp cad.gif Size: 45 KB
swing it!
  • #780
  • Mar 5, 2012 5:02pm Mar 5, 2012 5:02pm
Quoting Chicajudy
Short entry on the above pair appears far too early. Support not cleared and a sideways 200 SMA.

Good luck, anyway!
Let me show you why I liked it there was a lot of chop but we had a fake out right at the top that cleared the highs of the range gives more of a bias to break the low of the range
Attached Image (click to enlarge)
Click to Enlarge Name: AU2.jpg Size: 265 KB
1 trader viewing now