When Price is UP, buy; when Price is Down, sell short... | Page 15 | Forex Factory

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

  • #281
  • Nov 3, 2015 10:30pm Nov 3, 2015 10:30pm
on the economic calender: a day full of red news for the EUR, GBP, CAD &the USD
  • #282
  • Nov 3, 2015 10:38pm Nov 3, 2015 10:38pm
Quoting carbonado
"{quote}" may i ask why you bought gu .....if you use yesterdays candle to determine where to trade......by that i mean if yesterday closes as a bullish candle ,you look for a buy.....am just curious........
i forgot to mention that i'm in the process of weaning myself off intraday charts lower than 30mins, so when i do get a trade setup signal i will consult the price in the 1hr and 30mins and if one or both agree on the trade setup then i will enter.
  • #283
  • Nov 4, 2015 12:09am Nov 4, 2015 12:09am
by posting the chart below i only want to show main strategy of this thread....which is....

  1. when monthly is, up drop dwn to Dly and buy when a signal is present.

​it shows a gain of 64, 995 pips but its actually 649 pips. similarly on this specific pair the spread shows 60 but in reality i found is actually 6 ...
only the pilot tiny probe is still alive because the bigger sized entries i closed on the way up.
EDIT: different trading account

Attached Image
  • #284
  • Nov 4, 2015 12:56am Nov 4, 2015 12:56am
here is another thread related trade, showing Weekly>4hr strategy. the gains are about 270 pips.
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  • #285
  • Nov 4, 2015 1:14am Nov 4, 2015 1:14am
"[quote=sunshine;8573759]{quote} i forgot to mention that i'm in the process of weaning myself off intraday charts lower than 30mins, so when i do get a trade setup signal i will consult the price in the 1hr and 30mins and if one or both agree on the trade setup then i will enter.[/quot"

okay...get you....just sold eu though......
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 33 KB
  • #286
  • Nov 4, 2015 1:17am Nov 4, 2015 1:17am
just gu too 1.5422
  • #287
  • Nov 4, 2015 10:48pm Nov 4, 2015 10:48pm
Quoting carbonado
just gu too 1.5422
hello carbonado, i take u meant that u sold cable as well... weldone.
  • #288
  • Nov 4, 2015 10:55pm Nov 4, 2015 10:55pm
2x 30min charts below, i sent in a buy probe on GBPAUD pair as can be seen.

the Ozzie has a sell signal but i didn't take it because i have "feeling" that its just a fake. maybe i'm wrong and because of that i will await the next 30mins close and then make a decision.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUD+AUDUSD 30mins Thurs 5Nov.png Size: 23 KB
  • #289
  • Nov 4, 2015 11:08pm Nov 4, 2015 11:08pm
ok, not a good sign, the last GBPAUD 30mins closed red but im not cutting my loss yet...

why not ?
have a look at the hourly, it says we wana go up...so i'm giving it the benefit of doubt, i will wait

on the other hand, should the current 30mins of AUDUSD clse dwn then shorts rule.
  • #290
  • Nov 4, 2015 11:12pm Nov 4, 2015 11:12pm
so much manipulation-red news coming from the GBP side later today, so watch out for that spikes.
  • #291
  • Nov 4, 2015 11:23pm Nov 4, 2015 11:23pm
as an illustration and elaboration to make plain and clear... here is the hourly AUDUSD chart.

  1. there is a shorting signal currently present, which obviously indicates that shorts are permitted
  2. this signal is a very valid signal based on the methodology of this thread.
  3. however, because it is a strong sell signal, any cancellation of that strong signal will permit longs.

Attached Image
  • #292
  • Nov 4, 2015 11:26pm Nov 4, 2015 11:26pm
with about 5mins to go till end of bar, it looks like the sell signal will hold
  • #293
  • Nov 4, 2015 11:50pm Nov 4, 2015 11:50pm
EURUSD:

  1. everyone including me, is bearish on this pair and as can be shown on the charts, that belief is correct,
  2. when bearish sentiment is that wide spread then caution bells start to ring for me,... i consult my charts to see if my bias is still bearish
  3. so, looking at the higher tf charts i can see that they all say "shorts rule !"
  4. including the bigger intraday 4hr tf,
  5. now here is the thing... the 4hrs appears ripe for a "snap-back up"

4hrs:

  1. so what will signal a possible snap-back rally ?
  2. i am looking for a Double Bottom and/or a Higher Low,​
  3. it may happen today {which i doubt} but most probably tomorrow

​here is the 4hr chart...any contra opinions are welcomed...post your chart/s to illustrate and clarify your reasoning.

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  • #294
  • Nov 5, 2015 1:21am Nov 5, 2015 1:21am
"
Quoting sunshine
so much manipulation-red news coming from the GBP side later today, so watch out for that spikes.
"

Good morning sunshine......yes i sold gu yesterday...but have cancelled it...am on the side line till after the news....AU...to me is not bad for a sell...but also do not want to trade it becos their have some crazy news tommorow.....i fear that the market might not move wel till that time......i bought uj though....let see how it would play out.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM15.png Size: 34 KB
  • #295
  • Nov 5, 2015 5:52am Nov 5, 2015 5:52am
Quoting carbonado
"{quote}" Good morning sunshine......yes i sold gu yesterday...but have cancelled it...am on the side line till after the news....AU...to me is not bad for a sell...but also do not want to trade it becos their have some crazy news tommorow.....i fear that the market might not move wel till that time......i bought uj though....let see how it would play out. {image}
good morning to u carbonado,

what do mean by "cancelled it " do u mean that u closed your trade ?

yes the same reason i closed my long probe on the GBPAUD... too much whipsawing expected. i can't get a reason to play my normal trade size yet, i mean, to add to my probe a greater lot size so i terminate my probes when i see the momentum stalling.

from your 15min chart it appears that u made a good buy on the USDJPY, i hope it ends well/
  • #296
  • Nov 5, 2015 5:55am Nov 5, 2015 5:55am
Interesting Trend Trading always yields profit
  • #297
  • Nov 5, 2015 6:09am Nov 5, 2015 6:09am
"
Quoting sunshine
{quote} good morning to u carbonado, what do mean by "cancelled it " do u mean that u closed your trade ? yes the same reason i closed my long probe on the GBPAUD... too much whipsawing expected. i can't get a reason to play my normal trade size yet, i mean, to add to my probe a greater lot size so i terminate my probes when i see the momentum stalling. from your 15min chart it appears that u made a good buy on the USDJPY, i hope it ends well/
"..
yes i mean i cancelled it...
  • #298
  • Nov 5, 2015 6:15am Nov 5, 2015 6:15am
Quoting Bendz
Interesting Trend Trading always yields profit
thank you Bendz and yes it does but this year Trend Following has not been as rewarding as last year when trading the Weekly and Dailies and let it run for many weeks on end.
that is the main reason why i switched to taking trades and closing them within the same trading day., occasionally may let them ride. Anyone that have a trend following method on this pair would have find it extremely frustrating to accumulate and pyramid swing trade size gains. [huge gains
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Wkly Rangebound 2015.png Size: 17 KB
  • #299
  • Nov 5, 2015 6:19am Nov 5, 2015 6:19am
Quoting carbonado
"{quote}".. yes i mean i cancelled it...
ok, i was confused a bit because i saw that u actually took the trade and not placed an order that can be cancelled

the red news is apon us, just look at that moves
  • #300
  • Nov 5, 2015 6:22am Nov 5, 2015 6:22am
here is the chart of the GBPAUD long probe trade that i closed after +5hrs, got 44 pips there. switched to bar format for better visuals of Open & Close
Attached Image
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