lovely simple strategy, hope this thread isn't dying. it's one of the best
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Hey booktimes. I don't think this thread is dying. There just hasn't been too many trading opportunities of late. It's a really good method though, so be patient my friend and the pips shall come :-)
Most people have the will to win, few have the will to prepare to win
Hi Burnz
Yeah, been checking my charts every hour and day lol, patience is the watch word. I am not a trader for indicators they only confuse and contradict, all the big boys use price action and the bounce especially off the 200ema. lovely and simple love it
There's a bullish setup on H4 USD/JPY that completed just over an hour ago, but we should wait until after the US ISM Non-Manufacturing PMI at 1500 GMT, before thinking about an entry. Trading before major US figures is a risky business!
Most people have the will to win, few have the will to prepare to win
There's a bullish setup on H4 USD/JPY that completed just over an hour ago, but we should wait until after the US ISM Non-Manufacturing PMI at 1500 GMT, before thinking about an entry. Trading before major US figures is a risky business!
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so this candle isn't a good EP ? But if EMA200 breaks it is a good short setup on H1, isn't it ?
so this candle isn't a good EP ? But if EMA200 breaks it is a good short setup on H1, isn't it ?
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No man, for a couple of reasons:
We only enter long after a bullish momentum candle or short after a bearish momentum candle. That candle you pointed out on your chart is a bearish one (wrong direction)
It's best to wait after major news, affecting your cross, before making a trade.
I've just entered long because of the squeeze of all three EMAs on the H1 TF. This usually precedes strong breakouts. And since the trend on the H4 TF is bullish and we had a strong bullish momentum bounce from the 72 and intersect the 12 EMA a few hours ago, I thought this was a nice looking opportunity to go long with a TP at the double top level (82.65).
Most people have the will to win, few have the will to prepare to win
I've just entered long because of the squeeze of all three EMAs on the H1 TF. This usually precedes strong breakouts. And since the trend on the H4 TF is bullish and we had a strong bullish momentum bounce from the 72 and intersect the 12 EMA a few hours ago, I thought this was a nice looking opportunity to go long with a TP at the double top level (82.65).
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Made 20 pips on this. Anyone else take this move?
Also, a possible bullish setup on cable could be immininet. This market has been strongly bullish since mid-last month...
Most people have the will to win, few have the will to prepare to win
But, we haven't seen a full bar close over the PAC which I think we need? I am waiting and watching. 