When Price is UP, buy; when Price is Down, sell short... | Page 13 | Forex Factory

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

  • #241
  • Edited 2:53am Aug 31, 2015 2:07am | Edited 2:53am
Quoting sunshine
Just to remind me for this coming trading week, which way to trade...what to lookout for and which strategy to use...that's the function of the following 4hr charts ...feel free to contradict, agree and/or ask for explanations while i'm online. the first 3 charts are for the GBPAUD, EURAUD and the Loonie. note: nothing is random, each chart colour and x's and lines are all there for a specific reason, thus when i look at any one of these 4hr charts, it comes alive...it tells me a story. the last arrows on the chart shows anticipated trade direction...and...
[/color]

some pairs have gapped-up and others have gapped-down thereby confirming their specific higher time frame trends {read monthly trend as per this method}.
as such i find it prudent to wait until current 4hr bar close before deciding on trade direction. the yellow X's on the charts indicate anticipated direction.

thus far the Loonie looks good for longs.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD+EURAUD +USDCAD after 1st 8hrs 4hrs Mon31-08.png Size: 31 KB
  • #242
  • Aug 31, 2015 9:47am Aug 31, 2015 9:47am
hmmmm...i missed that piece of info....Bank Holiday today in the realm of the GBPUSD, only now starting to move.
  • #243
  • Sep 11, 2015 1:52am Sep 11, 2015 1:52am
Hi Sunshine, trust all is good with you.

I see you have a rough ride at the moment on the trading side
  • #244
  • Nov 1, 2015 3:19am Nov 1, 2015 3:19am
Quoting duderoo1
Hi Sunshine, trust all is good with you. I see you have a rough ride at the moment on the trading side
hello duderoo1,

yes i did, i'm still not back to carefree cruising, but in hindsight... i am very happy of that experience bcz it forced my trading focus sharply.
also, i started a 2nd reading of that all time classic by Edwin Lefevre on the trading life of Jesse Livermore... Reminiscences of a Stock Operator.
amazingly i found exact similar experiences to my own.

another amazing discovery i made in that book was the feeling of unease that i get that i should close a position now when there are no logical signs on the chart... that insight/intuition/feeling of dread i generally ignored to my loss, just as Jesse did. {the position at the time could be heavily in profit or marginally in a loss.}

in the process of my self inspection i made some tiny alteration to the strategies i employ with this trend-following method.

i hope your trading results are vastly better than mine.
  • #245
  • Nov 1, 2015 3:41am Nov 1, 2015 3:41am
Ok traders, lets get a move on for the month of November 2015.

Here is my intended trading direction of 4 pairs...all shorting candidates.

Attached Image (click to enlarge)
Click to Enlarge Name: Shorting candidates Nov2015.png Size: 32 KB
  • #246
  • Nov 1, 2015 3:47am Nov 1, 2015 3:47am
one more shorting candidate...EURAUD

Attached Image
  • #247
  • Nov 1, 2015 3:53am Nov 1, 2015 3:53am
and here are my buying candidates for the month of November 2015
Attached Image (click to enlarge)
Click to Enlarge Name: Buying candidates Nov2015.png Size: 31 KB
  • #248
  • Nov 1, 2015 3:59am Nov 1, 2015 3:59am
here are 2 more long candidates.
Attached Image (click to enlarge)
Click to Enlarge Name: BUYING candidates GBPAUD & CADJPY Nov2015.png Size: 20 KB
  • #249
  • Nov 1, 2015 4:22am Nov 1, 2015 4:22am
that makes a total of 6 buy candidates and 5 short selling candidates...

Question: ​what does all this translates into...?
Answer: it simply means,

  1. that price has a greater chance of moving in that one particular direction.
  2. in the case of the longs...price may end up higher at the close of month. and the other way around for the shorting pairs.
  3. that entry signals can be taken off the 4hr and Daily timeframes,

​Question: what about intraday trades or trades that are initiated during a particular trading session and closed before that market goes to sleep, such as the London Open ?
Answer: Yes, in that instance we look at the prior Daily bar [yesterday] and if it closed up [for mthly candidates] we buy and close out when London settles down for the day. the specific buy signal will be given in 30mins or 1hr tf's.

Question: is counter trend trades allowed ?
Answer: obviously yes, however, a Dly up close in the direction of the monthly enhances my confidence to enter long.

the above are just some of my strategies that i use...they may not suit u or your style or your trading philosophy.

  • #250
  • Nov 1, 2015 4:37am Nov 1, 2015 4:37am
i included 2 southern hemisphere currencies might as well include another one.
the AUDUSD pair falls into the buying category.
Attached Image
  • #251
  • Nov 1, 2015 4:40am Nov 1, 2015 4:40am
so now there are 12 instruments on my radar for this month, 7 buying candidates and 5 shorting candidates. i may or may not trade all pairs.
  • #252
  • Nov 1, 2015 4:53am Nov 1, 2015 4:53am
Hi Sunshine,
Thank you for all your hard work to help others with their trading.
I have one-fairly stupid!- question-- how can I view your performance since you started the thread on trade explorer?
  • #253
  • Nov 1, 2015 5:38am Nov 1, 2015 5:38am
Quoting gssintokyo
Hi Sunshine, Thank you for all your hard work to help others with their trading. I have one-fairly stupid!- question-- how can I view your performance since you started the thread on trade explorer?
hi gssintokyo,

you can't.
part of the reason why i made my TE private was not to feel beholden to any trading method or strategy because when i get that illogical feeling to close a profitable trade [whether hugely in gains or marginally] or the trade could even be marginally in a loss.... i don't want anyone to feel that i'm not sticking to my strategy...because should anyone ask me why did i close the trade i will not be able to answer logically from the charts.

i plan to re-open my TE once i have established a comfortable gain... a comfortable profitable cushion allows me to focus on trade setups and not their results.
  • #254
  • Nov 1, 2015 6:15am Nov 1, 2015 6:15am
here is a sample from one of my other accounts...all open trades. 3 trades currently in a loss [one marginally] and 2 trades with handsome gains.

the EURUSD sell trade that is marginally in a loss may turn out to be profitable.

Attached Image (click to enlarge)
Click to Enlarge Name: 3trades loss 2gains.png Size: 39 KB
  • #255
  • Nov 1, 2015 11:34pm Nov 1, 2015 11:34pm
we had gap openings in most of them, in the anticipated monthly bias monthly trading direction
  • #256
  • Nov 1, 2015 11:45pm Nov 1, 2015 11:45pm
in the following pairs buy setups are forming, not yet finalised...

  1. AUDUSD
  2. NZDUSD &
  3. GBPJPY

  • #257
  • Nov 1, 2015 11:48pm Nov 1, 2015 11:48pm
trade setups completed on the

  1. USDZAR &
  2. USOIL

but i didn't take those trades.

  • #258
  • Nov 1, 2015 11:53pm Nov 1, 2015 11:53pm
included in that list of trade setups forming is the EURNZD, this one also in it's recommended mthly trade direction which is going short.
  • #259
  • Nov 1, 2015 11:57pm Nov 1, 2015 11:57pm
i am ignoring all the GBP pairs for now bcz in a little over 3hrs some red news is expected. i noticed subdued movement in the cable thus far, maybe other traders also have the wait and see strategy for now.
  • #260
  • Nov 2, 2015 12:03am Nov 2, 2015 12:03am
ok, first probes in, all longs in the pairs i mentioned about 15mins ago, they are:

  1. Kiwi
  2. Geppy and the
  3. Ozzie

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