a bullish pin in 4h at 1.53630 could be a nice buy signal in g/u
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That looks like upper wick double top to me. It did close green but thats not what I see as a bullish candle. We are in a GU sell still, lets see if we can push below 1.5370 ish where US session were buyers yesterday.
what would have prompted the sell in e/j was it the small pin in 1h 4 hrs ago?how do u deal with a trade if daily closed a doji like yesterday in e/j? am learning alot thenx
what would have prompted the sell in e/j was it the small pin in 1h 4 hrs ago?how do u deal with a trade if daily closed a doji like yesterday in e/j? am learning alot thenx
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The whole topping out process on D/4hr, 4hr divergence then had a small negative close, small 1hr shooting star/doji, lh on 15 min little/no lower wick.
Typo earlier not 130.60 but 130.40 sell missed out on.
Great post.. just put on my screen to read and read again....
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Cheers danc, trust you are well.
EJ keeps falling (Mrs V's general weapon of choice these days), GU going nowhere slowly. She has tightened stop to about 8 pips but hopefully we go lower from here.
This is a good system but I you position sizing and increase my risk amount by 10% every successful trade to make it more profitable.
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We look to increase position size in half lot moves. So if trading S1000 acc or $10000 acc it doesn't matter, we increase when +50% achieved on account.
Great , thanks for the quick reply. Do you trade this system full time?
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Was full time for about 4 years, back in family business Mrs V presses the buttons now. She has about 18 months experience. I am hoping that in 3 months or so also be back full time.
Hi Dave, Are you referring to this candle that closed at 06:30 GMT, if so would you trade it 1.5 hours prior to LO, or am I missing something? Regards Martin {image}
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We are prepared to trade earlier on Fri's as there are often moves. LO on a Fri can be a mess - sideways.
what would have prompted the sell in e/j was it the small pin in 1h 4 hrs ago?how do u deal with a trade if daily closed a doji like yesterday in e/j? am learning alot thenx
Hi Dave, Are you referring to this candle that closed at 06:30 GMT, if so would you trade it 1.5 hours prior to LO, or am I missing something? Regards Martin {image}
EUR - The 3 days last week where we could not move higher means we are in a range roughly between W M2 1.3038 and W M3 1.3123. 4hr has signaled lower so if the W pivot fails would expect a move down to W M2/the lows of the last few days.
GU - Moved up to the identified resistance level (see yesterdays blog post), 1.5383 during Asian session and sold off strongly. We'll see if the move below the W pivot 1.5328 can hold. If the current 4hr closes above the W pivot with a long wick that would suggest a false break. If it does go lower targets will be W M2 and W S1 the general areas of the last 4hr higher lows from last week.
EJ - Asian session had a strong move down and we reached the identified area 127.70-20 high from February (see yesterdays blog post). After such strong moves early in Asian session only time will tell if London open is sideways. The flow certainly switched lower but having reached the support level so quickly we can only watch and see the reaction.
Higher low, lower high system
