If you think you can or cannot do it you are correct
- #583
- Mar 14, 2012 12:10pm Mar 14, 2012 12:10pm
An entry according to the rules stated in the 1st post.
But I'm not sure of taking this one. The overall trend is down, buit if we look to the left of the h4 chart, the last couple days look some sort of sideways. On the other hand, the down-momentum seems to be intact.
Another point is the time of day. Both, Frankfurt and London are closed, so there will not be too much action in this pair for the next hours. There seems to be some support a this place, too, but might well be, that it's gonna brake in this downmove. A lot of pro's and con's for this trade...
But I'm not sure of taking this one. The overall trend is down, buit if we look to the left of the h4 chart, the last couple days look some sort of sideways. On the other hand, the down-momentum seems to be intact.
Another point is the time of day. Both, Frankfurt and London are closed, so there will not be too much action in this pair for the next hours. There seems to be some support a this place, too, but might well be, that it's gonna brake in this downmove. A lot of pro's and con's for this trade...
- #585
- Mar 14, 2012 12:15pm Mar 14, 2012 12:15pm
- | Commercial User | Joined Feb 2012 | 3,770 Posts
tradewith60
- #586
- Mar 14, 2012 12:16pm Mar 14, 2012 12:16pm
it seems we are together in that one.
I'm still in the chf/jpy trade, after 60mm stated his thoughts... What about your eur/jpy? Looks nearly the same..
I apologize im sleepy.
Hello, i don't wanna clutter your topic, i just want to compliment to you, this is a really good way to trade!
Althrough i don't trade this method (ill sit on my own for now), i have something for you, hope you will appreciate it: OB Ident
Just manually backtested it on EURUSD 4h, GMT+1, Activtrades broker, have scored about 285 pips since jan 1 2012.. 12 Trades, 7W 5L.
Those results are in line with yours?
Or maybe i'm just completley wrong, it's really possible
Have...
Do you mind sharing your entries? I have backtested EURUSD as well (Fxpro - 1 jan - 13 march). I have spotted 29 trades, I guess the difference is because fxpro is GMT instead of GMT +1..
Thanks!
Great system 60mm! I'm backtesting it at the moment to get enough confidence. Only problem I have is determing the TP, but I have noticed that the 2nd candle after the trade is triggered, gives you an indication whether you will hit the tp or not.
- #592
- Mar 14, 2012 2:25pm Mar 14, 2012 2:25pm
- | Commercial User | Joined Feb 2012 | 3,770 Posts
tradewith60
