Whether you can or you can't, you are both right.
Have a look at this 3 usd pairs i've chosen.
Eurusd
Usdjpy
audusd
To me eurusd would be the relatively weaker pair as it has broken the swing low by a huge margin. Just look at the gap down, compared with au and usdjpy.
That being said i will be looking to short eurusd.
Next question, where?
Looking at the 4 hour, we see price respecting the 20ema.
One could try short a retracement towards the 20ema (red line) or look to trade a breakout towards the downside.
That's my thought process on how i would select a product to trade, and entries to get into the trend.
Does that help?
fartist
Eurusd
Usdjpy
audusd
To me eurusd would be the relatively weaker pair as it has broken the swing low by a huge margin. Just look at the gap down, compared with au and usdjpy.
That being said i will be looking to short eurusd.
Next question, where?
Looking at the 4 hour, we see price respecting the 20ema.
One could try short a retracement towards the 20ema (red line) or look to trade a breakout towards the downside.
That's my thought process on how i would select a product to trade, and entries to get into the trend.
Does that help?
fartist
Whether you can or you can't, you are both right.
Hey Fartist!
Thanks a lot for this system, i really appreciate this approach!
It seems that this strategy is very well suited for me and my current work life (it is hard to trade short term with a day job
)
I am currently in a few postitions, and want to know what you and the others on this thread think of it
i went short on eur / usd
on multiple occasions:
The first was @1.2559 because the Daily broke the MA50
The next was @1.2209 because the H4 hit the MA20 and was at a level of support/resistance
The third was @1.2159 because a level of support was broken
My last one was @1.2116 because another level of support was broken
I put all orders as pending orders, so i didnīt have to worry about entries at work.
So here comes my question:
What do you think of the adding to winning positions, if supports/resistances are broken?
PS: Thanks for the ATR indicator, isīt awesome
Thanks a lot for this system, i really appreciate this approach!
It seems that this strategy is very well suited for me and my current work life (it is hard to trade short term with a day job
)I am currently in a few postitions, and want to know what you and the others on this thread think of it
i went short on eur / usd
on multiple occasions:
The first was @1.2559 because the Daily broke the MA50
The next was @1.2209 because the H4 hit the MA20 and was at a level of support/resistance
The third was @1.2159 because a level of support was broken
My last one was @1.2116 because another level of support was broken
I put all orders as pending orders, so i didnīt have to worry about entries at work.
So here comes my question:
What do you think of the adding to winning positions, if supports/resistances are broken?
PS: Thanks for the ATR indicator, isīt awesome
Hey Fartist! Thanks a lot for this system, i really appreciate this approach! It seems that this strategy is very well suited for me and my current work life (it is hard to trade short term with a day job
Yes trend following on the higher time frame favors those who have a full time job.
I think your entries are fine. Eurusd is a pair i would prefer due to it's weakness.
You've selected a good pair.
With regards to your entry, i do trade pullbacks as well as breakouts so i'm not going to comment much either.
One thing to note is beware of scaling in too aggressively. You may want to let the earlier entries run further before scaling in.
Reason being if they're too near too one another, when price reverse your equity will reverse very fast.
But still great trade nonetheless!
fartist
Whether you can or you can't, you are both right.