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Daily Chart w/ 10sma

  • #1,301
  • Oct 5, 2012 6:04am Oct 5, 2012 6:04am
Hi
Just found this thread, will practice and see.
  • #1,302
  • Oct 5, 2012 7:20am Oct 5, 2012 7:20am
Hi Bkg,

Can I ask you (or others) to let me know what you think of my S/R line decisions here?

Thanks
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  • #1,303
  • Oct 5, 2012 7:47am Oct 5, 2012 7:47am
Quoting fondofallthi
Hi Bkg,

Can I ask you (or others) to let me know what you think of my S/R line decisions here?

Thanks
They look fairly accurate to me.
Please ask questions and share your experiences with us all!
  • #1,304
  • Oct 5, 2012 7:58am Oct 5, 2012 7:58am
Thanks Bkg,

I find your idea quite simple to follow, so I hope I can make good use of it.

I will post some trades as we go. Please feel to suggest improvements to my S/R lines

I will post one I found a little trickier. Just one for your perusal. If you think this one is okay, then I will confident enough to move on

Edit: Forgot to add that originally I had the Support line higher up (around the 1.0079 mark) but as the candles broke through I looked for the next logical support point.
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  • #1,305
  • Oct 5, 2012 10:17am Oct 5, 2012 10:17am
My net trading yesterday wwas negative: -70 pips for the Z/$ & +32 pips for the gbp/Y. Live trades but just micro lots and I now have a profile set up with the 4 suggested pairs on one screen. I didn't trade today but will look hard at this strategy next week. Have a nice weekend all, p.
  • #1,306
  • Oct 5, 2012 10:23am Oct 5, 2012 10:23am
Quoting fondofallthi
Thanks Bkg,

I find your idea quite simple to follow, so I hope I can make good use of it.

I will post some trades as we go. Please feel to suggest improvements to my S/R lines

I will post one I found a little trickier. Just one for your perusal. If you think this one is okay, then I will confident enough to move on

Edit: Forgot to add that originally I had the Support line higher up (around the 1.0079 mark) but as the candles broke through I looked for the next logical support point.
I believe it was in this thread, but not 100% sure & I haven't gone back through it, where the originator ignores wicks & shadows but places s/r on the candle bodies. If so you would be at TP in the above pic. Good work.
  • #1,307
  • Oct 5, 2012 10:46am Oct 5, 2012 10:46am
Quoting fondofallthi
Hi Bkg,

Can I ask you (or others) to let me know what you think of my S/R line decisions here?

Thanks
Hi ya Fondo..

To make it easier for you to draw the S/R lines maybe change the chart to a line chart to help you mark up the areas a bit easier..

Also remember the S/R areas are zones a lot of the times, meaning not always to the pip with the levels and could easily have a zone range of 5-20pips at times..

Cheers,
Adrian
  • #1,308
  • Oct 5, 2012 11:08am Oct 5, 2012 11:08am
Cheers Guys.

Well for me I have the EUR/NZD and CHF/JPY right at res and the AUD/CAD at sup.

Interesting to see how things open on Monday.

Thanks again.

EDIT: Ramjet; Thanks Bud. Yeah the line chart makes it far easier to see what's going on
  • #1,309
  • Oct 5, 2012 12:06pm Oct 5, 2012 12:06pm
BK i will post them and a trick or two over thr weekend............texan
  • #1,310
  • Oct 5, 2012 9:28pm Oct 5, 2012 9:28pm
Dear Bkg102665,

I think "BKG_SuppRes41E.ex4" is an EA file not indicator.
I am not sure if anything wrong with my mt4,
2 auqa lines would not change day by day, I need to remove ex4 file and re-attached again.

If you could provide the ex4 source code,
it will be very helpful for modifying.

Thanks a lot.

Quoting bkg102665
Sure! When you grab a horizontal line off of the toolbar and drag it on your chart, right click on it and change the color to aqua.You can just add the attached indicator which needs to be loaded in your expert file and drag it on your chart and the lines will be aqua plus it has a support and resistance number attached to the line which is nice.You can move those two lines where ever you see as support and resistance.
  • #1,311
  • Oct 7, 2012 8:57pm Oct 7, 2012 8:57pm
i don't have any openings today. Anybody have anything they can see?
  • #1,312
  • Oct 8, 2012 12:13am Oct 8, 2012 12:13am
I have a short position @ AUD/USD.

Quoting fondofallthi
i don't have any openings today. Anybody have anything they can see?
  • #1,313
  • Oct 8, 2012 4:17am Oct 8, 2012 4:17am
I went long AUS/NZD - Up 25 pips at the moment. I admit I used a 4 hour chart to make that decision.
  • #1,314
  • Oct 8, 2012 6:28am Oct 8, 2012 6:28am
Quoting fondofallthi
i don't have any openings today. Anybody have anything they can see?
From Fri I am short the chf/jpy and plus 91 pips at the moment. About 30 minutes ago I shorted the eur/nzd, minus 5 pips right now. Both pairs are part of the practice four that Texan & the originator suggested.
  • #1,315
  • Oct 8, 2012 6:38am Oct 8, 2012 6:38am
I have GBP/USD short at 1.6123 with daily tf.
  • #1,316
  • Oct 8, 2012 6:40am Oct 8, 2012 6:40am
Quoting piprac
From Fri I am short the chf/jpy and plus 91 pips at the moment. About 30 minutes ago I shorted the eur/nzd, minus 5 pips right now. Both pairs are part of the practice four that Texan & the originator suggested.
Why did you short the eurnzd? I thought price needed to be below the 10sma to be short

Olu
If you think you can or cannot do it you are correct
  • #1,317
  • Oct 8, 2012 6:47am Oct 8, 2012 6:47am
Quoting Olu
Why did you short the eurnzd? I thought price needed to be below the 10sma to be short

Olu
You are absolutely right, I didn't follow the rules. The eur/nzd broke the 200 sma but not the 10ma which is indicating long at the moment. For the chf/jpy I traded a bounce off the 200ma. I will stick to the rules when posting future trades. As far as that goes it appears the gbp/usd follows the rules although it has already racked up some pips and today is a light trading day. I will just watch it and kick myself later wishing I had taken it.
  • #1,318
  • Oct 8, 2012 6:53am Oct 8, 2012 6:53am
Hi
The gbp/usd looks good for a short
Peter
  • #1,319
  • Oct 8, 2012 6:53am Oct 8, 2012 6:53am
Quoting piprac
You are absolutely right, I didn't follow the rules. The eur/nzd broke the 200 sma but not the 10ma which is indicating long at the moment. For the chf/jpy I traded a bounce off the 200ma. I will stick to the rules when posting future trades. As far as that goes it appears the gbp/usd follows the rules although it has already racked up some pips and today is a light trading day. I will just watch it and kick myself later wishing I had taken it.
I hear you piprac. I too consider the 200sma as a very serious sma to trade with. I just dont post those trades here. And you are right about the gbpusd you could have 'rac'ed up a lot of pips. Lets agree not kick ourselves too much

Olu
If you think you can or cannot do it you are correct
  • #1,320
  • Oct 8, 2012 7:21am Oct 8, 2012 7:21am
i only trade these pairs and use bk support and res expert edvisor....my gold is to make 200 pips a week..and i do... i use the swiss army ea to control my trades.
i use a 30 pip stop loss settings on the swiss army to trail the price by the 30 pip sl. now if the price moves in my favor 10 pips i only have a 20 pip exposer. the trade last night was the gpb/usd......... it has moved about 100.pips now i am locked in for 70 pip profit and has several hundred pips to hit bk support. i do not take all trades unless the s/r is about 100 pips away.. the swiss army ea has lots of settngs and i will post my presets if any one wants. i do not over trade my acount.....i am 77 yrs old and i have been trading for 10 yrs i dont think most traders can keep up with 10/20 charts and make money i know i cant... you can put fibs and lines on your charts if yu think it helps..but most only looks good and dont help much about making money.please dont take offence just my trading thoughts STICK wirh bk and you will be ok.. excuse my bad typing and spelling...have a great day /// Texan
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