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Daily Chart w/ 10sma

  • #821
  • Mar 7, 2012 7:49am Mar 7, 2012 7:49am
Thank you so much.

Judy
  • #822
  • Mar 7, 2012 8:13am Mar 7, 2012 8:13am
Thank you for chart loading instrx!
Rack in those pips!
Judy
  • #823
  • Mar 7, 2012 10:06am Mar 7, 2012 10:06am
Thanks to Erebus and tomspin for correlation tables
  • #824
  • Mar 7, 2012 12:40pm Mar 7, 2012 12:40pm
Hi BKG102665,

Maybe for the followers can you post your currencypairs that you follow.

then everyone can make the right decession in the pairs.

regards
Dutchsignals
  • #825
  • Mar 7, 2012 3:47pm Mar 7, 2012 3:47pm
Quoting dutchsignals
Hi BKG102665,

Maybe for the followers can you post your currencypairs that you follow.

then everyone can make the right decession in the pairs.

regards
Dutchsignals

If bkg could do that it would be a good idea as it would cut out the trial and error at present if we had recommended pairs to follow.
  • #826
  • Mar 7, 2012 3:58pm Mar 7, 2012 3:58pm
Quoting dutchsignals
Hi BKG102665,

Maybe for the followers can you post your currencypairs that you follow.

then everyone can make the right decession in the pairs.

regards
Dutchsignals
I will be glad to post the pairs I monitor but this set up should work the same on most pairs. I think I have 20 pairs I look at and will post them later tonight.
Please ask questions and share your experiences with us all!
  • #827
  • Mar 7, 2012 10:03pm Mar 7, 2012 10:03pm
Hi BKG and friends, last night I entered a short trade in the EURJPY. It seemed to be a nice set up because it bounced at the 108.00 Resistance and the candle crossed below the SMA10 and SMA200.

Now my trade is against the market... I didn't saw anyone taking this trade in this thread, so I wonder if I made a mistake in my analisys. Did anyone entered this trade too??

Please can you see my chart and tell me if it wasn't a good set up? If I made a mistake, I want to know it and learn from it.

Thanks.
Greg.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY.jpg Size: 65 KB
  • #828
  • Mar 7, 2012 11:16pm Mar 7, 2012 11:16pm
Quoting gregofx
Hi BKG and friends, last night I entered a short trade in the EURJPY. It seemed to be a nice set up because it bounced at the 108.00 Resistance and the candle crossed below the SMA10 and SMA200.

Now my trade is against the market... I didn't saw anyone taking this trade in this thread, so I wonder if I made a mistake in my analisys. Did anyone entered this trade too??

Please can you see my chart and tell me if it wasn't a good set up? If I made a mistake, I want to know it and learn from it.

Thanks.
Greg.
Greg

I thought you have prepared to invest 170 pips when shorting this pair... with R:R 1:2?

At this moment you are running until exit.

In trading there is no full proof trading methods / systems incl. bkg. Prices go UP and DOWN in every second.

Hope the above helps.
  • #829
  • Mar 7, 2012 11:36pm Mar 7, 2012 11:36pm
Quoting gregofx
Hi BKG and friends, last night I entered a short trade in the EURJPY. It seemed to be a nice set up because it bounced at the 108.00 Resistance and the candle crossed below the SMA10 and SMA200.

Now my trade is against the market... I didn't saw anyone taking this trade in this thread, so I wonder if I made a mistake in my analisys. Did anyone entered this trade too??

Please can you see my chart and tell me if it wasn't a good set up? If I made a mistake, I want to know it and learn from it.

Thanks.
Greg.
Hello Greg, the pair you have chosen was not the ideal fit for this method. The 10 day moving average did close over the price..however, there is a considerable distance between the MA and the close of the price. Try to find the pairs where the stem of the bar is in contact with the MA. I believe the NZD pairs are good examples for the night. (AUD/NZD and EUR/NZD). BKG, if i have made a mistake in explaining this, feel free to let me know.

Cheers, FaRa.
  • #830
  • Mar 7, 2012 11:58pm Mar 7, 2012 11:58pm
Quoting FaRa13
Hello Greg, the pair you have chosen was not the ideal fit for this method. The 10 day moving average did close over the price..however, there is a considerable distance between the MA and the close of the price. Try to find the pairs where the stem of the bar is in contact with the MA. I believe the NZD pairs are good examples for the night. (AUD/NZD and EUR/NZD). BKG, if i have made a mistake in explaining this, feel free to let me know.

Cheers, FaRa.
This is a good point. Also if it does close a long distance from the 10 SMA, wait for the pull back close to the SMA and there could be a possible reversal. This can be seen on the 8th of November. Hope this helps.
  • #831
  • Mar 8, 2012 8:04am Mar 8, 2012 8:04am
Quoting xTrammer
This is a good point. Also if it does close a long distance from the 10 SMA, wait for the pull back close to the SMA and there could be a possible reversal. This can be seen on the 8th of November. Hope this helps.
This is a good point and I think I read some other people fib the long candle and will wait for a retrace to the 50% level which is a good idea if you think there is a strong downward bias overall.
  • #832
  • Mar 8, 2012 8:12am Mar 8, 2012 8:12am
Looks like a nice 10ma setup is forming in the USDCAD, I'm already short this pair based on another method I trade, may add to the position depending on how the NY close looks.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 592 KB
  • #833
  • Mar 8, 2012 9:10am Mar 8, 2012 9:10am
Quoting jmpforex
Looks like a nice 10ma setup is forming in the USDCAD, I'm already short this pair based on another method I trade, may add to the position depending on how the NY close looks.
Quoting gregofx
Hi BKG and friends, last night I entered a short trade in the EURJPY. It seemed to be a nice set up because it bounced at the 108.00 Resistance and the candle crossed below the SMA10 and SMA200.

Now my trade is against the market... I didn't saw anyone taking this trade in this thread, so I wonder if I made a mistake in my analisys. Did anyone entered this trade too??

Please can you see my chart and tell me if it wasn't a good set up? If I made a mistake, I want to know it and learn from it.

Thanks.
Greg.
some pb shown up on last h4 on usd/oz/jpy pairs
would it possible the trend return to south?
let's see
  • #834
  • Mar 8, 2012 9:23am Mar 8, 2012 9:23am
Quoting sniperfxmy
oz and nz move fast but
it is 4th day, oz/cad is crawling

cheers
today she gone wild... knocking north and now south
this is trading !
Attached Image (click to enlarge)
Click to Enlarge Name: ozcad.gif Size: 19 KB
  • #835
  • Mar 8, 2012 9:30am Mar 8, 2012 9:30am
Hello everybody
First of all i would like to thanks Bkg for his very interesting method and for taking so much time to answer all the questions he has received. i am short on USDJPY from 81.06 with SL 81.94 and TP 80.09. BKG, do you think is a valid entry ? and whoever want to tell, i will be glad to see your comments.
Many thanks !
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 22 KB
  • #836
  • Mar 8, 2012 9:38am Mar 8, 2012 9:38am
Quoting jeronimo
Hello everybody
First of all i would like to thanks Bkg for his very interesting method and for taking so much time to answer all the questions he has received. i am short on USDJPY from 8106 with SL 8194 and TP 80.09. BKG, do you think is a valid entry ? and whoever want to tell, i will be glad to see your comments.
Many thanks !
Welcome to this fantastic thread mate!
According to BKG rules you should wait for candle to close so the best time to enter your trade should be tokyo open when next candle come up on your chart.
This strategy gives you unique way of trading so you don't have to spend hours in front of your pc, just an hour a day
How cool is that?

Also I started to trading live since yesterday using this strategy, allready
+ 70
Good luck
swing it!
  • #837
  • Mar 8, 2012 9:48am Mar 8, 2012 9:48am
Quoting tomspin
Welcome to this fantastic thread mate!
According to BKG rules you should wait for candle to close so the best time to enter your trade should be tokyo open when next candle come up on your chart.
This strategy gives you unique way of trading so you don't have to spend hours in front of your pc, just an hour a day
How cool is that?

Also I started to trading live since yesterday using this strategy, allready
+ 70
Good luck
Hi tomspin !
Thank you for you very quick answer and congratulation for the pips you earned !. i am sure this is a great strategy and very unstressed one.
I enter this trade yesterday night but it actually close under sma10 on 03/06, but i did wait for a better entry and did it 03/07 before closing time..so i guess i follow the rules (R not so far away+close under sma10)
  • #838
  • Mar 8, 2012 10:05am Mar 8, 2012 10:05am
Oh well I must have misunderstood something , if it's going well then its alright.
In case of making entry I also look at the candle formation, imo very important aspect.
More people coming to this thread which is great it is not as busy as the other ones but it doesn't have to.
Just follow rules and you'll be fine. You are also more then welcome to post your charts and entry signals, let's share and earn those pips!
swing it!
  • #839
  • Mar 8, 2012 10:45am Mar 8, 2012 10:45am
Quoting gregofx
Hi BKG and friends, last night I entered a short trade in the EURJPY. It seemed to be a nice set up because it bounced at the 108.00 Resistance and the candle crossed below the SMA10 and SMA200.

Now my trade is against the market... I didn't saw anyone taking this trade in this thread, so I wonder if I made a mistake in my analisys. Did anyone entered this trade too??

Please can you see my chart and tell me if it wasn't a good set up? If I made a mistake, I want to know it and learn from it.

Thanks.
Greg.
nothing wrong with your entry however the price had already moved down too much. you should have waited for a retrace before entering or entered with half the position.
  • #840
  • Mar 8, 2012 12:07pm Mar 8, 2012 12:07pm
Quoting gregofx
Hi BKG and friends, last night I entered a short trade in the EURJPY. It seemed to be a nice set up because it bounced at the 108.00 Resistance and the candle crossed below the SMA10 and SMA200.

Now my trade is against the market... I didn't saw anyone taking this trade in this thread, so I wonder if I made a mistake in my analisys. Did anyone entered this trade too??

Please can you see my chart and tell me if it wasn't a good set up? If I made a mistake, I want to know it and learn from it.

Thanks.
Greg.
In hindsight it is always easier to spot where a person might have gone wrong.
If you go back to the 19th of October there was at least 9 days from that time which had trouble with this level which maybe would have alerted you.
I find at times with the rush to get a trade on we are missing the obvious There was 9 days that bounced of this level if those days were more spread out they would have been taken as an event area.
Only once after that time did we get a cross in that time with a large pullback.
I hope this helps you Greg for the future.
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