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

u welcome chiru and i'm happy to be of assistance.

i will be away on a short holiday break here down the South Coast of my province with my wife and some of our married children and our latest grandson. so i will take a break from trading and charts as well and any related things and news.
my holiday starts today where i will join the family who is already there since monday morning.
therefore i will not update the weekly closings of the stock charts over the weekend.

PS: i'm thinking of adding a few more weekly stock charts especially those in the commodity sector and those who have their origin n my country.

hello bradu
yes u are 100% correct...theM+D combo is certainly down and because of that we were looking for shorts in Signal Generating tf. that signal was that very long down bearish daily bar that wiped out the previous 3 up days...that action told me clearly that the down trend is resuming.

look at that bearish bar below the white ?X? on the chart:

1. extremely bearish compared to the preceding daily bars,
2. it closed below the open of the previous 3 bullish.
3. this wipe out the 3 previous days were extraordinary because of the fact that red close of the last month, January, indicated more down months to follow,
4. but take a quick look at the monthly January bar... it formed a rather (1) small range (2) the complete January bar formed what is called an "indecision" bar, like a spinning top or doji...which is interpreted as price may go either way in the next month, Up or Dow. it so happens that it went up, and
5. this change was like an alert, an alarm bell, a siren that shouted clearly and unambiguously to me in the Daily price pattern.. "Watch out, this bearish dailybar was just a fake, i really want to go Up as u can see by my daily close after the extreme bearish bar !!!"
6. my reaction was like that of a slave to his Master.."i hear U and i obey..." no argument, no 2nd guessing, no delaying tactics...just follow the price.
7. but if u don't believe {in this method and this strategy} then tell-tale signals will pass u by.
8. at the time of this writing there is a combined pip gain of more than 470

​checkout the updated Daily chart below.
u will notice another valid M+D combo sell signal from 2 days ago, instead of shorting i bought again because this appears to be another fake.
..u will also notice that the SL of my 1st buy is still in its original place at the time of entering the trade...take a moment to calculate an enjoy the risk to reward should i close out the trade now, i'm not going to close it now but after this post to u i will raise the SL because i'm joining my family on a short holiday break later today and will not be looking or enquiring about any investment or trading market.

any further questions please feel free to ask, thank you.

Great hear that you are going on family vacation with grandchild. Happy vacation Sunshine.
Will wait for ur commodity charts!

thank you chiru

we are planning another holiday break for next month. this time we plan to go inland to our beautiful mountain areas, we all love horses so we intent to have a few outrides early morning and late afternoon, maybe slip in a gallop or two. with these majestic beasts.
the only problem is my sore backside and chaffed legs afterwards but will take some soft blankets, long pants and chapps with.

today is a bank holiday for the USD, so think about standing aside as well.

ok here are the Weekly stock charts: trends are basically still intact on all of them and on some there are breather signals and others have formed stacking and continuation signals.

Attached Image (click to enlarge)

Attached Image (click to enlarge)

ExxonMobil & SilverWheaton, commodity stocks taking off.

Attached Image (click to enlarge)

WesternDigital & Tesla... trend still intact.

GBPJPY 4hrs Sell Signal in the making.... this pattern is valid for some other Yen pairs as well such as AUDJPY, CADJPY & USDJPY
the W+4hrs is the basis of this alert should this shorting signal materialise.

...on the chart is visible 5 prior trades, 2 of which the SL's are visible.

EURUSD M+D combo short signal in play.
if u shorted then hold and look to add.
i still got a long trade open that may or may not be stopped out, i really should have shorted but since i was a bit late to the party i didn't take the short, i will look for re-entry signal.

plenty red news today; EUR ,GBP, CAD & NZD... so trade accordingly.

my favourite plays for today are;

1. GBPUSD for shorts &
2. EURNZD for longs

​

EURUSD:

 

1. ​Dly short signal still in effect, this may change after the red news, but until then...shorts rule...
2. if current 4hrs bar closes up then i may add to my profitable long that i'm still holding. i would like to see an equal up bar or engulfing bar.

GBPJPY:

1. M+D= dwn
2. W+4hrs = dwn
3. sell short as your strategy dictates.

Great thread Sunshine and fantastic approach to the market. I need to ask. How do you chose currency pairs which you will be trading? I know that you have fixed number of currency pairs that you trade, but how did you selected them?

thank you Scrabie, much appreciated...simplicity is the key.

i selected the current pairs because,

1. on average, they move great distances during the day with a beautiful structured low that my eyes can follow with ease
2. my trade size in general is tiny with as low as 0.01 but with multiple stacks in at least one pair but spread over 5 pairs...both long & short,
3. however, having said that, i may eliminate some fast moving high volatility pairs from my trading screens if their 4hr or Dly trends are no more beautiful to me, in favour of lower volatility pairs that pleases my eye...according to my strategy and method.
4. by structured moves and beautiful patterns i mean, they stop trending either in the Daily or the 4hrs even Weekly.
5. recently i added a few Yen pairs and dropped a few GBP pairs, but today these cable pairs are back in my favour only bcz they are starting to make predictable smooth pleasing Dly & 4hrs moves again, but i have loaded them lightly compared to the the main cable pairs as in GBPUSD & GBPJPY.
6. see my next post of 4hr charts for some of these new pairs and their trade direction for today, nothing fancy just price.​
7. lastly, once a trend is in place then make use of market orders, buy & sell limit orders & buy stop & sell stop orders.

yes, i took that 4hr buy signal but was stopped out for a loss, then went short based on the failure of that 4hr buy signal and i'm still in that short trade...i will leave its SL in place.

looking at the Daily chart below we can see that the current Dly bar is forming a very pleasing trend continuation signal BUT the day is far from done and many government sanctioned manipulators of the market has "news" releases coming out during the course of this day.
i may take another long off the 4hrs.

EDIT: the M+D combo short is still in play...!!! as pointed out on the chart of the break and close below of the LSH by the red bar that the green "X" is crowning.

ok Scrabie,

here are those Yen new additions that interest my trading fancy mainly because of their pleasing and well structured price bars {i use bars & candles & candlesticks & Japanese candlesticks to mean the same thing, even if the chart shows candlesticks i may say "bars"}

i do hope that the charts clarify and make plain what i mean, if not...then please do ask and point out my mistakes and/or your uncertainty.

Please take note of the following:

1. the highlighted items on the charts which indicates the trade signal clearly,
2. some charts are Dly and some are 4hrs,
3. ​the reason and rationale for the shorts are explained by the Trend Indicator Charts which are; Wkly for 4hr signals & Mthly for Dly trading and entry signals.
4. any questions are welcome.
5. price may reverse and activate the Stops, i have allowed for that eventuality.
6. in addition, some Stops are very wide to accommodate for the spikes of the market maker dealers and hot air banksters' and politicians lies & self importance grandstanding.

​

8 pairs on this 4hr tf mini charts from forexfactory sums up my trading bias for the day.
that trading bias is indicated by the last completed 4hr bar.

Hi Sunshine,
I couldn't manage to execute trades on forex demo account due to my day job which is going beyond day job!!!
Your method has improved my way of reading the charts, but i think I still need to work my part to manage and stick to good trades n leave out weak trades.

Have another Question, how do you determine to trade some pairs only among all the Pairs which already satisfy M+D1 Or W+H4? I think this is the most critical part of your trading, otherwise we would caught up with some pair which becomes choppy whereas some other pair becomes trending at the same time.

Thanks for your time.

I`m sorry for my late respond, had no time last week. Charts are very clearly to understand. Just to clarify, (please look at attached charts) you are adding postion after bullish bar in downtrend. Is it correct? In other words you are selling breakup from recent LSL?

Today I have started to use line chart instead of candlestic. It feels a little better, but still I have to hang around it to fully transfer from candlesticks to line. Whats your opinion on that? I know that you were using line charts on higher tf, but for lower tf it should still work great because we are going for breakup of last LSL anyway (in downtrend).