The first trade on CT entered on break of price level, second price level was tp but price blew through it, got out because price had started to roll over and thats a pretty good move for cotton.
Not much happening for me today 1 nice trade, that i stayed in longer than I might normally because my only other trade wasn't doing much. I'll post my other trade aud/nzd when i close.
May times I do not even bother to trade on days when ECB or FOMC announce their programs and rates. But today I did any way. I agree RP PA was different which is why I am on the side lines a lot on these days. But today turned out pretty good. I'm done though. One trade, I got up late and was not in a hurry to get to the computer.
Good trades RP, I did not catch any part of the JPY moves against any pairs. Looking under the wrong rock I guess. Good example when the Forex Power Indicator came in handy. The one really weak Currency was the JPY. Enjoy your weekend RP and everyone.
Yes that is when Forex Power Ind. works best when it shows 1 or 2 strong/weak currencies because it really narrow your focus. I'll be trading on Monday and Tuesday but then probably not again until Weds. the following week. My best friend of 57 years is coming for a week and we plan on raising a little hell.
1) Up trend was 4 hours old. so you are probably looking at retracement or consolidation.
2) AO has bearish divergence
3) If you go back and look at my entries you will see I rarely enter unless I get a complete bar above/below the price level.
One and done this morning, a little bit of a late start. 5 contracts on ZF. FX pretty flat today, so I'm staying out, there was a nice move on GBP/USD
earlier hopefully some one caught it.
This is my one trade so far. GBP/USD is one of my favorites, so I usually catch it when it moves. But 43pips. I had just sat down at the computer. Everyone have a good week. Good trade RP.
I had one losing trade on cadjpy, at london open time the cad was pretty strong and jpy pretty week on 4hr tf power meter indicator, so i thought that after the period of consolidation (on the left side of my entry) the price would go lower following the trend, but it was a fake breakout.
I don't know if any body using the winners edge power indicator has noticed that when you put cursor over a currency it gives number of pips movement for that time period. I don't consider a currency weak or strong unless you are showing at the very least double digit movement and preferrably at least 13-15 pips on the 4 hr.
Trading with range bars ichimoku cloud & awesome oscillator
