When Price is UP, buy; when Price is Down, sell short...

yip, no doubt i am still in Losers Mode which is Trading not to Lose, because i closed out that last geppy trade for 36 pips whereas if i left it open the gains in pips would be at this time be around 46 pips...and i am still anticipating this pair to continue its bullish run north because i still have my BuyStop open since yesterday.

Trading not to Lose is the direct polar opposite of Trading to Win.

will do GBPUSD 4hrs in a minute with chart.

ok here we are...but first the EURUSD:

1. the Monthly Trend Indicator tf is still down AND its Signal Generating tf has given us a Short Signal on the Monday the 18th, so if u are in shorts hold them and lower your SL appropriately.
2. continue to stack short as per your usual strategy.
3. the Weekly Trend Indicator tf is still in an UpTrend despite the current bearish engulfing bar that is forming, so
4. should the 4hrs give a long probe, take it with an appropriate trade size, smaller than normal.

​GBPUSD

1. the same analysis is applicable to the Cable so i am posting only the 4hr chart below.

​

Pinocchio up to his tricks again

PS:

1. price closed above that 4hr LSL, illustrated in post 202 above, clearing the way for buys
2. possible buy in Dly.

Hi traders,

here are the AUDNZD charts, showing Mthly & the two Signal Generating Charts of the Mthly, one in candle format and the other in Line format to illustrate better what we trying to convey. i am using these specific charts as the trading tf signals show up better than my public account with fxprimus. {it's a give & take, sometimes one platform generates trading signals, whereas the other may not, just trade the signals that are clear & standout and avoid taking the same trade in the other one that doesn't show plainly.}

so i recommend that should u want more than 1 trading account then have them all with different brokers that have different daily open times and hold your trading money in different currencies.

The SL is as i recommend for the trading tf which in this case is 100 pips. Reasons for taking the short trade are on the charts.

shall we do some fx pair analysis ? what about GBPJPY, USDCAD & EURUSD ? in order to get some idea which way to trade for the coming week ?

EDIT: if there is no interest than i won't bother posting charts.

Hi sunshine,

I am interested, pls show GBPJPY, USDCAD & EURUSD charts.

Best Regards,
LearnAlways

Hello LearnAlways, welcome back...where have u been all this time, we missed u.

ok, thank you for your request, here are the 3 charts below, pls note the tf's are not all the same.

for the history on USDCAD, pls refer to page 8 post 145 of 10th May and my reply to duderoo in post 149 also page 8, to get some sort of continuity of this pair and why i am saying to be on the alert for a Daily -brb.

please read the comments on the charts.

Thanks for the concern,

I have been keeping track of the thread development, sunshine
Q) do u keep in touch with fundamental news? There's Britain exit on EU news over the weekend though the timeline is 2017. The GBPUSD close on daily, breaks the last Swing Low. But according to your system, GBPUSD monthly is up so look for long opportunity on D1. I mean will the GBPUSD affect GBPJPY???

Best Regards,
LearnAlways

you welcome
Yes, i do keep a watchful eye on what is happening in the rest of the world, both to the east, west and north of us. However, i will not not term it fundamentals, i prefer to look at the Macro developments concerning a region, continents/subcontinents and the interconnect between all these.

it is not correct to say that my system says that the GBPUSD Monthly is up...not yet at least...because the month of May is not yet complete by 5 trading days, therefore the current monthly direction is still DOWN.
...infact, the Dly tf generated a valid sell signal on friday.
...we can see from the Daily chart below that price is still above the Mthly LSL,{green Line} so price can close either way at the end of the month..
...please note the up trendline channel and the position of price in relation to it,
...the break of that trendline is not of major importance...that break just acts as an alert or headsup, and to be treated accordingly.
...no such signal was generated by the Geppy.

i do not know if the cable will affect the Geppy or the otherway round.

i'm posting the Dly tf below of the Cable with the Sell Signal.

Hi traders,

Due to several public holidays in 3 or more major currencies, i recommended not to open any new positions today because from experience a lot of churning usually occurs...meaning, price will move up and down and take out stops and then close the day almost where it opened, visualise a Doji.
see the image below from Forex Factory's Calendar page.

Attached Image

High Sunshine
Can you tell me if you stay close to your charts or do you go walkabout
The thing is I can't understand your entry, buy trade on AUD/JPY 95.65, it's almost like you entered
without giving it a thought ......... OH ! have you changed it to a sell now lol

........................................
I see now it was closed a few hours back, charts are slow showing information

you are correct in your observations, well done gopips,

i knew from memory that both Trend Indicator tf's are up so i just looked and 4hrs and saw that i missed the entry signal by several hours and around 50 pips below, so i thought ok, i am too late now but from the look of the chart patterns i could maybe get 50 pips, but i will monitor it intermittently because i have some other duties to execute. i was thinking i will make it to peep every 15mins to 30mins or so.
i was not prepared to sit through a prolonged retracement. after almost 3hrs of being in the trade {and price NOT advancing} i saw that price went nowhere....so i closed it. as you can see after my exit it dropped about 50 pips and at the time of writing it is still not up to my entry.
some days i can be around the charts and other days i just enter my trades, close the trading station and walk away...that depends on:

1. what strategy i am employing like London Open, and on
2. the timeframe i trade, for example; 4hrs+Weekly or Dly+Mthly
3. and whether i had an optimal entry or very close to optimal according my method.

​i hope that is clear.

hello traders,

for today, the GBPUSD looks very promising for buys, good luck.

i am not trading today.

EDIT:

1. u can trade the 4hrs which is about now, or
2. trade intraday long, or
3. trade the LO.

for the late comers to our thread or new comers to forex, i think i should explain what i mean by trading the different timeframes in my post about GBPUSD above,

by trading the 4hrs i mean:

1. a trading signal, like a buy entry signal, was generated in the 4hr time frame,
2. when u trade in this tf, u just enter your buy with your SL,
3. SL can be a few pips below the low of the entry bar signal or 50 pips.
4. once in the trade, u may now close your trading station and come back in about 4hrs to check on the trade progress. in other words, u are free to attend to one's daily duties outside of forex trading.
5. so after 4hrs when u come back to your trading station u can now raise the SL a few pips below the new 4hr bar that formed or to breakeven if price moved really well, then again, close the trading platform after u have done your trade management and be free to do other things until the next 4hr bar.
6. Take profit [tp] can be after the 1st 4hr reversal bar formed,
7. OR you may just raise your SL again a few pips below the low of this bar incase price moves north again after this breather.
8. lastly, one may close the trade after a few Doji's or indecision bars forms in 4hrs. that normally signals the end of the current up momentum.

​the 4hrs frees one from being glued to the screen all day long.

hello traders,

 

1. closed out a short probe entered on friday for a loss
2. and went long on confirmed 4hr LSH close.
3. SL just below the signal bar,
4. no set PT ? why not ? because Weekly Trend Indicator tf is still in up mode. (that is not the case with the Monthly.)

​2x4hr charts below, showing the LSH close as well as other chart patterns that caught my eye.

Hi Sunshine
perhaps as AUD/NZD has exceeded the Average Daily Range you should consider taking 50% of your profit

Hello gopips, i can see that u truly willing me to in profit AND stay there your concern is heartwarming.

that AUDNZD trade was taken off the Monthly TI timeframe on a buy signal in its trading screen therefore i will let it run its course. last month, the buys in the Cable & Geppy would have been very handsomely in gains if i followed my method
...reason i wasn't following my method ???
...answer: my mindset was inLosers Mode, Trading "Defensive", Trading NOT to LOSE, can't go bankrupt taking small gains...this may work for other people but not for me. and nowhere was this more evident as in my small tiny insignificant trade sizes, 0.01
...i mean, what was i thinking getting a move of 100 or more pips and banking AUD$10 ???

...how to rectify that Losers Mentality ? switch to Trading to WIN Mode...so i was thinking...i know my system is profitable and my strategy i have fine tuned optimally, i cant do any better
...SO ? stop pussy-footing around mister and trade your method and since my account is small to tiny, then trade at least 0.1 lot sizes or if expecting a possible retracement then enter 0.05 initially and once price has played out as anticipated then enter the other outstanding 0.05 lot size.

...lastly, this trade now has to run its course:

1. i have set the SL to breakeven plus a tiny buffer.
2. therefore, i have no more emotional involvement in this trade, should price retrace and activate the SL then so be it.
3. as price moves up day-by-day, the SL will be raised as per my strategy.
4. TP ? the Daily will determine that or if price moves really well north, i will hand over that trade to the Weekly tf.
5. any new trades initiated in that pair are just that, NEW...and must stand on its own parameters or be culled...i don't carry passengers or free-loaders.
6. the correct procedure from hereon was to enter long again {at least with half the initial trade size} at the close of yesterdays bar and to do that with each successive up day...i missed the closed but i have placed a BuyLimit order to enter on a retrace.

but why is ur profit by return graph is so negative even after 3 months using this system?

i like the whole idea of using multi-time frame analysis (MTFA), i used this system together with Heiken Ashi on W1,D1,H4 and H1 before i learn with the VSA method, but im still using the core MTFA for my trade setup.

hi Sunshine,
can you please do an analysis of EURUSD both on long /short term