I am a new member of this discussion. First of all I have to say thank you for you guys to share your knowledge and experiences. I am interested in your system and I started to practice on a demo account. This morning I noticed a possible buy entry situation.
Please check the attached chart of Apple. What do you think? Is it a good chance to buy?
By the way, can you tell me please how can I paste the picture in my post? At the moment I can only attach the picture.
I am a new member of this discussion. First of all I have to say thank you for you guys to share your knowledge and experiences. I am interested in your system and I started to practice on a demo account. This morning I noticed a possible buy entry situation.
Please check the attached chart of Apple. What do you think? Is it a good chance to buy?
By the way, can you tell me please how can I paste the picture in my post? At the moment I can only attach the picture.
Thank you!
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Not sure what you mean by pasting? The attachment looks fine.
Although I don't personally trade stocks in this way that chart does look very nice. Have you read the updated system that is linked to from the top of the first post? We switched to using a dual timeframe system but the original method works fine too.
I just came across your interesting thread. I would like to ask if you usually check upper timeframe weekly and month before daily trades are considered.
GBPCHF daily for example actually has a monthly resistance running across it. Would this trade be considered or would you stay out in this case. From the looks of it this particular setup worked out in the end. I am just not sure if it was a lucky trade.
If I understand this strategy correctly, USDCAD is setting up for a short opportunity soon. Now we wait for 1H to trace back to perhaps where the arrow is and wait for stot to cross down and henki to change color?
I just came across your interesting thread. I would like to ask if you usually check upper timeframe weekly and month before daily trades are considered.
GBPCHF daily for example actually has a monthly resistance running across it. Would this trade be considered or would you stay out in this case. From the looks of it this particular setup worked out in the end. I am just not sure if it was a lucky trade.
Thanks.
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Hi hytten, we're not really trading the daily chart, we wait for the daily to set up and then move to the hourly to trade any trend that does follow.
If I understand this strategy correctly, USDCAD is setting up for a short opportunity soon. Now we wait for 1H to trace back to perhaps where the arrow is and wait for stot to cross down and henki to change color?
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Yes, usdcad looks nice. I would be a little wary today due to nfp coming out but looks good for this afternoon if it pulls back and turns well.
Thanks Hugh. I saw your post on EURUSD but I was "afaird" to trade it because of the weekly resistance just above it. But I can see it does has room for at least 50pips which it why I wonder if higher timeframe support and resistance is taken into consideration as welll.
Thanks Hugh. I saw your post on EURUSD but I was "afaird" to trade it because of the weekly resistance just above it. But I can see it does has room for at least 50pips which it why I wonder if higher timeframe support and resistance is taken into consideration as welll.
Thanks
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No, support and resistance holds half the time and breaks the other. The important thing to watch is the trend.
If I understand this strategy correctly, USDCAD is setting up for a short opportunity soon. Now we wait for 1H to trace back to perhaps where the arrow is and wait for stot to cross down and henki to change color?
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Usdcad still looking good for monday. It had a big reaction to nfp but is pulling back a bit now.
Eurusd doing fine. Gbpjpy pulling back quite strongly at the moment. Let's see what happens next week.
Usdcad still looking good for monday. It had a big reaction to nfp but is pulling back a bit now.
Eurusd doing fine. Gbpjpy pulling back quite strongly at the moment. Let's see what happens next week.
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Interesting, originally I thought that a "smooth pullback" should not be very steep. It seems that this pullback up on USDCAD is quite steep, but you still consider it as a smooth pullback, don't you?
Interesting, originally I thought that a "smooth pullback" should not be very steep. It seems that this pullback up on USDCAD is quite steep, but you still consider it as a smooth pullback, don't you?
Thanks!
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If it turns nicely it will be ok and the pullback is quite smooth but you are correct it is a little steep.
If it turns nicely it will be ok and the pullback is quite smooth but you are correct it is a little steep.
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Hi Hugh,
nice of you to share this system. I've noticed you posted few other systems as well. Which is your favourite?
Regarding USDCAD set up: Are you still waiting for the price to pull back closer to 100 SMA (on hourly chart) and for a red candle to enter short or you're already in?
Hi Hugh,
nice of you to share this system. I've noticed you posted few other systems as well. Which is your favourite?
Regarding USDCAD set up: Are you still waiting for the price to pull back closer to 100 SMA (on hourly chart) and for a red candle to enter short or you're already in?
Thanks
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My favourite is the Quick and Dirty EOD system. Very simple, very profitable. I don't actually trade the Swing trading with heiken ashi system myself at the moment as I don't have time to trade hourly charts but there are people discussing it on my site and trading it successfully.
It doesn't necessarily need to go all the way back up to the 100 sma. A nice looking turn here would be enough. It is approaching the congestion area before nfp which may act as resistance.
It doesn't necessarily need to go all the way back up to the 100 sma. A nice looking turn here would be enough. It is approaching the congestion area before nfp which may act as resistance.
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I was thinking about distance to the stop Hugh - as you mentioned in one of the posts, you prefer to put stop 20 points above 100 SMA (or 10 points above the 100 SMA high/low channel).
If you were still using this system, would you enter if there was a 'nice' turn some distance before it reaches 100 SMA (more than 30 points) so making the distance to the stop more than 50 points (more than 30 + 20 = more than 50), or would you dismiss it because of unacceptable risk?
BTW Stoch crossing indicator prints arrows for more than 90% of crossings, but not for all of them
I was thinking about distance to the stop Hugh - as you mentioned in one of the posts, you prefer to put stop 20 points above 100 SMA (or 10 points above the 100 SMA high/low channel).
If you were still using this system, would you enter if there was a 'nice' turn some distance before it reaches 100 SMA (more than 30 points) so making the distance to the stop more than 50 points (more than 30 + 20 = more than 50), or would you dismiss it because of unacceptable risk?
BTW [color=red]Stoch crossing indicator prints arrows for more than 90%...
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The inital stop doesn't have to be behind the 100 sma. If you get a good signal where it is then jump in with a 30 pip stop so you don't lose too much if it goes wrong and then just trail the stop behind the 100 sma as the trend progresses.
The inital stop doesn't have to be behind the 100 sma. If you get a good signal where it is then jump in with a 30 pip stop so you don't lose too much if it goes wrong and then just trail the stop behind the 100 sma as the trend progresses.
Swing trading with heiken ashi and stochs
