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Monthly Profit - Daily Trading using SMA

  • #2,941
  • Sep 18, 2016 10:37am Sep 18, 2016 10:37am
Quoting shimmering
{quote} Hi, I have read the first post, but I still have the question which I had asked you. Eg. does the candle have to only pierce the MA, or close beyond it?
Yes pierced (I used the term "crossed")
  • #2,942
  • Sep 18, 2016 10:37am Sep 18, 2016 10:37am
Quoting Ghibli
{quote} Main rules ,are that you are waiting for present daily candle to close ..if the pair was not in ranging/sideways/consolidation and the candle is closed beyound the SMA you are entering the trade..and about BB.. we don't want price to be close to the upper BB ( while you want go long ) and close to the lower BB ( if you want to sell ) ..also BB should be not very narrow at this time. You have to look out at the end of the day candle to not enter immediately ,when the spread is very big ( often after D1 close ,it is )
Yes, I got you, s[preads are high then. I am actually 7 hours ahead of NY time, so it is midnight, and I am usually in bed then, so maybe for me it would be better to wait for the morning, when it is about 1 a,m, in NY. And about the NZD/CHF chart, i see now that it had not even pierced the MA a couple of days ago, so my apologies for the other post.
  • #2,943
  • Sep 18, 2016 10:38am Sep 18, 2016 10:38am
Quoting shimmering
{quote} Hi Ghibli, have you tried it with just piercing the MA? I ask because looking at a few scharts, including your NZD/CHF, an earlier entry would have resulted, close to your trendline.
Sometimes , I was enetring when the candle was only touching the SMA , but that is risky..The main rule is that you see , that the candle is beyound the SMA for sure
Read 1st post , if you don't understand something , then , ask a question
  • #2,944
  • Sep 18, 2016 10:41am Sep 18, 2016 10:41am
Quoting Ghibli
{quote} Will give you an example below ..the candle closed beyound the SMA , lower BB - enough room , price was not in consolidation {image}
Do you mean the last candle on your chart? is that a pending trade then for going long tomorrow? And what pair is it?
  • #2,945
  • Sep 18, 2016 10:42am Sep 18, 2016 10:42am
Quoting Bk8
{quote} Yes pierced (I used the term "crossed")
Thank you.
  • #2,946
  • Sep 18, 2016 10:45am Sep 18, 2016 10:45am
Oh ok, I think we have clrearly mentioned that sideways should be ignored.. S&R is one of the ways to filter sideways, I agree some new traders are still confused, may be.. they started following this thread from the last page.
Post#1 has everything to get started without any confusion but I am not the best narrator so we have traders like you who feel happy to help them if required.
Thank you!

Quoting Heelfan23
{quote} Thank you, for the response. I wasn't asking for help though. I was just making a suggestion. It seems some traders are just entering trades because it crossed the MA, without looking to see where a pair might be, as far as S/R levels. I thought I would add my two cents. Just trying to help, if anything maybe get a better entry point. Please don't take it as negative, it is intended to be positive, and to possibly help.
  • #2,947
  • Sep 18, 2016 10:47am Sep 18, 2016 10:47am
Quoting shimmering
{quote} Do you mean the last candle on your chart? is that a pending trade then for going long tomorrow? And what pair is it?
Yes, I meant the last candle on this chart this picture was made today and it's CAD/CHF..but this is only an example, some of traders will take this trade/other don't - because of the S/R levels ..the choice is yours
Read 1st post , if you don't understand something , then , ask a question
  • #2,948
  • Sep 18, 2016 10:49am Sep 18, 2016 10:49am
Quoting Ghibli
{quote} Yes, I meant the last candle on this chart this picture was made today and it's CAD/CHF..but this is only an example, some of traders will take this trade/other don't - because of the S/R levels ..the choice is yours
I am thinking of allowing for a pullback on one other template I use, and then entering. By the way, are you in England?
  • #2,949
  • Sep 18, 2016 10:52am Sep 18, 2016 10:52am
Quoting Ghibli
{quote} Yes, I meant the last candle on this chart this picture was made today and it's CAD/CHF..but this is only an example, some of traders will take this trade/other don't - because of the S/R levels ..the choice is yours
IN fact , it seems that maybe a pullback close to MA would work, as a limit order. Have you tried that?
  • #2,950
  • Sep 18, 2016 11:00am Sep 18, 2016 11:00am
Quoting yonnie
number of votes so far what to buy/sell at market open (counted up to post 2896) buy A/CH 4 - A/N 5 - C/CH 3 - E/C 1 - N/CH 1 - U/CH 1 sell CH/J 1 - E/A 4 - E/C 7 - E/J 1 - E/N 1 - E/S 2 - E/U 1 - G/A 1 - G/C 6 - G/U 1 - N/J 1 will update around 2pm FF time if Bk8 hasn`t given his verdict yet. so chief, you`ll have a big job ahead of you weeding out the baddies
Hello.
Thank you very much. I have tried to learn to make prioritaions, so I kind of had 3 or 4 pairs left where I could make setups.
And, of course, I will wait for bk8's comments too.
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #2,951
  • Sep 18, 2016 11:16am Sep 18, 2016 11:16am
Quoting crimson89
These are the trades for me. Feeling the current candles don't have long wicks and looks like the previous candle have already hit their high and can't have a breakout from their high. I'm like selling all the way. Lol. Selling EA, EC, EN, GC, GA. Not sure if my analysis make sense? Comments please (: {image}{image}{image}{image}{image}
my comment is that E/A would be better than E/N, since A/N is a buy, so AUD stronger than NZD, against a weak EU.
  • #2,952
  • Sep 18, 2016 11:28am Sep 18, 2016 11:28am
Quoting shimmering
{quote} my comment is that E/A would be better than E/N, since A/N is a buy, so AUD stronger than NZD, against a weak EU.
  • #2,953
  • Sep 18, 2016 11:36am Sep 18, 2016 11:36am
Quoting shimmering
{quote} my comment is that E/A would be better than E/N, since A/N is a buy, so AUD stronger than NZD, against a weak EU.
As per rule, we will not be considering E/N due to late entry.
  • #2,954
  • Sep 18, 2016 11:46am Sep 18, 2016 11:46am
Quote
As per rule, we will not be considering E/N due to late entry.
bk8 my en entry have it's not good
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  • #2,955
  • Sep 18, 2016 11:57am Sep 18, 2016 11:57am
Quoting saranga
{quote} bk8 my en entry have it's not good {image}
Since you have already taken position so you are good.
My suggestion was for Traders who are considering for today's setups.
  • #2,956
  • Sep 18, 2016 11:57am Sep 18, 2016 11:57am
Hello. Can I ask yonnie - is it to late to go short? Is that why it is a no 4 on you list?
Thank you.
Oddbj.
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All the best to all of you. But don't follow me. I am a learner.
  • #2,957
  • Sep 18, 2016 12:00pm Sep 18, 2016 12:00pm
Quote
Since you have already taken position so you are good.
My suggestion was for Traders who are considering for today's setups.
thank
i am test indi

  1. Sideways pattern
  2. look s.shot nice

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  • #2,958
  • Sep 18, 2016 12:12pm Sep 18, 2016 12:12pm
Quoting Mathy
{quote} Please re-examine EC chart = both Daily and Weekly. There's no way that's a buy
I rarely trade this pair. If I trade, it would be buy. But, I might not trade this pair.
  • #2,959
  • Sep 18, 2016 12:13pm Sep 18, 2016 12:13pm
Quoting Oddbjorg
Hello. Can I ask yonnie - is it to late to go short? Is that why it is a no 4 on you list? Thank you. Oddbj. {image}
No. If it doesn't breach 1.50. It will stay 1.40 -1.50. You can sell. And SL @ 1.51.

I would not sell @ 1.51. Because it shows some bullish action.
  • #2,960
  • Sep 18, 2016 12:21pm Sep 18, 2016 12:21pm
Quoting Oddbjorg
Hello. Can I ask yonnie - is it to late to go short? Is that why it is a no 4 on you list? Thank you. Oddbj. {image}
Oddbjorg
it seems like to me you do not have enough confidence in your trading, until you do i would stop asking other traders whether you should or should not take a trade, the system as laid out by BK8 is very simple and straight forward, it could not be any easier, this is not gambling, no ways will i take a trade based on any one else's analysys, conclusion :
stop trading live if you are not sure what you are doing
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