Trading is as simple as ABCD

Where's Mr capstone??

can't see any real target here before the next 25 level??

Trailed up a bit under 50 level and it pipped me out for 2.1 pips. Was trying not to get nothing out of the move but there you go...

Looks like the BOJ press conference must have started bit of JPY weakness creeping in..





Trouble is its a bit like news trading, never quite sure where its going to go next??

Lets have another go then, see what happens this time...

Lets try EURJPY

Took 21.9 pips off of the first run and managed to squeeze back in again, now where to close???

Where is Mr capstone??

Didn't get anything out of that last short but couldn't resist the HL it formed so took it and looking ok now..

Took another 14 pips out there as 3 points of resistance, a 25 level, the 5 min 35lwma and Mr Capstones 100% AB=CD target.

Up 20 % on my account this morning with not a single loser so a good start to the day...

Stupidly gave 10 pips back there. Don't know why I'm still trading EURJPY when its not in my top Trenders any more or even moving well, just get attached to a trade and keep going at it . Right well lets go look at the TTindy see whoose top of our list???

Well thats me done gotta get to work early today so I'll say good day, probably a good idea before I start giving it all back, catch you all tomoz same time same place...

I made it! Nice job today!

Clive - so far I think I like the 5-15 combo the best.

Can't trade M1 - too much noise for me.

Clive, AB=CD. Here it is in perfection on a M5 chart. Both legs were 31 pips.

Another one EURUSD M5. This one is only 5 pips different with AB = 46 pips and CD= 41.

Hey Capstone

What time was you up this morning??? Bet your knackered now aren't you???

Yep I really liked using your idea with the AB=CD got me out almost perfectly especially when it collated with another level. Did you see the exit on EURJPY this morning???

Anyway didn't know if you'd seen this tool which is available on most MT4 platforms, the Fibonacci Extensions or expansions as they call it. You might have to right click tool bar and choose customise to select it

Its got 3 points you can set A to B and then you can highlight point 3 and drag it down to C. Then it projects AB from point C. Also gives you a 61.8 extension and a 161.8 as well as the 100.0 which of course is the AB=CD.

What it means is once you know AB and C you can project D as your target. Heres an example of how to use it where D just falls short of 161.8 extension. Basically I'm going to stick it on every move and watch price at the three extensions and if I see faltering at any close it out. Would of worked like a dream on this move as didn't falter through first 2 levels then just failed to reach 161.8 so close it.



And here's the example on EURUSD 5 min chart you posted point D projected almost to the pip...

Hi Handy148

Yep stick with whatever suits you best, forex trading is a very personal thing and we all have to find our own path that suits our personalities, thats for sure..

If you get a chance can you post your charts it would be great to see how its working for you...

Here's one I prepared earlier GBPJPY top of 15 min TTindy and heres why.. hope you caught some of these Handy???



Looks even better using HA candles

Here's something interesting talking to Handy148 about 15 min TTs had me thinking and look at this GBPJPY 1 min chart of the same period as above look how cool the MA colour changes were on the 1 min chart??? How about identifying strongest 15 min trenders then just trade every slope change on the 100lwma on the 1 min chart??

here,s the 1 min chart below , see how the MA turns red for a great signal?? Sell the next 2 CCI sell signals??



Just to make it easier to see here's the same chart without the candles clogging it up...



Hmm making me think perhaps I should only trade the top 15 min trender and take every MA colour change in same direction of the 15 min trend???

I was up at 4 AM my time. I believe that is 9 AM your time. I showered to wake up and get ready for the day. Did the charts, took kids to school, worked until 6:15, dinner with the in-laws, now checking out things before bed. I am knackered! I really tired too!!

The fib extension tool is probably the correct one to use there. I used to use the fib retracement tool instead because I was faster at putting it on the chart. Here is the EUR USD I posted earlier using it. It goes to the same fib number of 161.8.

Morning folks a bit late today struggled to get out of bed today feeling a bit tired myself.....

Lets have a look whats going on ..

Finding it tricky to think straight this morning for some reason so bit wary of taking any trades yet even though GBP pairs falling heavily again but then there's an orange news release at 0800hrs so will wait till after that and have a look whats going on.

With GBP falling pre-news release I'd guess bad news and if I was a betting man I'd be selling GBP right now....

Should of been up earlier as like these pre news moves...

Positive news release so this sellings obviously nothing to do with any pre-news leak... Just gonna wait a bit see if theres a delayed reaction...

If not then look for a GBP sell position.