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Monthly Profit - Daily Trading using SMA

  • #3,761
  • Sep 21, 2016 4:54pm Sep 21, 2016 4:54pm
Quoting umairsheikh2
{quote} There is a support on EU. Is still sideways, cant understand? {image} Yesterday EURCHF totally messed setup, it was a sideways & become profitable.
Scenario -1 if thats the case, it should have gone up yesterday as well?
Scenario -2 If it was waiting for News then it should have crossed the high of yesterday, isn't?

With that said, your guess could be still valid but we take decision as per rules..may not be 100% perfect but working for all of us somehow

Nobody can confirm 100% accuracy, even 5 pips...otherwise we could have made millions so far. So risk factor is a huge roadblock for us but same time it helps to survive when market goes against us.
  • #3,762
  • Sep 21, 2016 4:55pm Sep 21, 2016 4:55pm
Quoting umairsheikh2
{quote} There is a support on EU. Is still sideways, cant understand? {image} Yesterday EURCHF totally messed setup, it was a sideways & become profitable.
Hello.
I think it is sideways when 4 candles in a roll are in the same shape or place or how to say it.
What do you think? I am just learning my self, so I am not teaching or correcting you.
Just sharing.
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #3,763
  • Sep 21, 2016 5:01pm Sep 21, 2016 5:01pm
Quoting Bk8
{quote} Scenario -1 if thats the case, it should have gone up yesterday as well? Scenario -2 If it was waiting for News then it should have crossed the high of yesterday, isn't? that said, your guess could be still valid but we take decision as per rules..may not be 100% perfect but working for all of us somehow Nobody can confirm 100% accuracy about even 5 pips...otherwise we could have made millions so far. So risk factor is huge roadblock for us but same time it helps to survive when market goes against us.
True!

Quoting Oddbjorg
{quote} Hello. I think it is sideways when 4 candles in a roll are in the same shape or place or how to say it. What do you think? I am just learning my self, so I am not teaching or correcting you. Just sharing. Oddbj.
Yesterday, someone shared signal for this pair. It's looked totally messed but become profitable. BK8 right no one can predict...

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I Win, I Lose, It's my Job... And I Love it!
  • #3,764
  • Sep 21, 2016 5:02pm Sep 21, 2016 5:02pm
Still in four trades:

AUDUSD - moved SL to break even
EURNZD - moved SL to break even
EURCAD
NZDUSD

Closed EURAUD today because it hit my 1:3 target.

USDCAD is pending.
  • #3,765
  • Sep 21, 2016 5:04pm Sep 21, 2016 5:04pm
About EU one small hint. Look at the direction of the SMA and compare it to other trades we made which were profitable.
Maybe EU go up, but I don't expect more then 30 pips.

EU could be a nice sell setup for next week but atm it's not a good trade.

I could post a screenshot of my setup with S&R and other technical analysis but I think most people would be more confused then.

Only if Bk8 say it would be ok to post my point of view of EU I will post it and a possible trading plan for next week.
  • #3,766
  • Sep 21, 2016 5:04pm Sep 21, 2016 5:04pm
Quoting yonnie
{quote} zoomed out U/C on my chart......imo its not in a trend. its more sideways than an uptrend. before the 2nd of May, that`s what I call a trend, not after.
ya but, i m testing this strategy on a very different aspect, i added some MAS more to find major support/resistance and trend and back tested it on many pair for 8 to 10 years. Although the price actions says is sale. but i m using the logic which i have back tested and share u guys soon. my results.
that's how we can learn more with each other. Thanks.
  • #3,767
  • Sep 21, 2016 5:06pm Sep 21, 2016 5:06pm
Master BK8. Can you please give your opinion on CadChf. Looks good for long. Thanks
  • #3,768
  • Sep 21, 2016 5:09pm Sep 21, 2016 5:09pm
Quoting Oddbjorg
{quote} The reason why I sold uc is: Sma5 clearly gone through the closed candle. Close to upper bb, so there is space to run short. But just wait. This is why I took it. The teachers are around, so they will come with a real explanation. Oddbj.
Very good point Oddbj
  • #3,769
  • Sep 21, 2016 5:15pm Sep 21, 2016 5:15pm
Quoting Ghibli
E/C - If you will not cross that magical support line , I swear.. I will find you... haha .. live positions + 240..{image}
EC trade looks like it could still go aways. It's sitting in this open space dead mans land! Good zone is way below here.
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  • #3,770
  • Sep 21, 2016 5:17pm Sep 21, 2016 5:17pm
I am still in audnzd is a lot of space for a uptrend
  • #3,771
  • Sep 21, 2016 5:25pm Sep 21, 2016 5:25pm
Quoting Oddbjorg
{quote} The reason why I sold uc is: Sma5 clearly gone through the closed candle. Close to upper bb, so there is space to run short. But just wait. This is why I took it. The teachers are around, so they will come with a real explanation. Oddbj.
I agree. See the long bearish bar that cross the sma yesterday, it takes out the lows of the previous many bars that shows it wants to go down.A long bar like that is most convincing. But FOMC might surprise us.
  • #3,772
  • Sep 21, 2016 5:28pm Sep 21, 2016 5:28pm
S&R is part of our startegy so please go ahead.
I hope you will focus on D1 charts only. Thanks for your support, appreciate it!

Quoting Murksler
About EU one small hint. Look at the direction of the SMA and compare it to other trades we made which were profitable. Maybe EU go up, but I don't expect more then 30 pips. EU could be a nice sell setup for next week but atm it's not a good trade. I could post a screenshot of my setup with S&R and other technical analysis but I think most people would be more confused then. Only if Bk8 say it would be ok to post my point of view of EU I will post it and a possible trading plan for next week.
  • #3,773
  • Edited 5:46pm Sep 21, 2016 5:35pm | Edited 5:46pm
Since no one is sharing $$$ for sometime, let me do it
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  • #3,774
  • Sep 21, 2016 5:39pm Sep 21, 2016 5:39pm
Quoting Bk8
Since no one sharing $$$ for sometime, let me do it {image}
And the rest of the trades ? U/C from Today ..different broker ?
Read 1st post , if you don't understand something , then , ask a question
  • #3,775
  • Sep 21, 2016 5:41pm Sep 21, 2016 5:41pm
Quoting Ghibli
{quote} And the rest of the trades ? U/C from Today ..different broker ?
Thats correct.. I have 5 accounts
  • #3,776
  • Sep 21, 2016 5:41pm Sep 21, 2016 5:41pm
I missed the UC boat due to fast momentum, but I have set up 2 sell limit orders with the TP set for order 1. I'm ready to go if price retraces back to the zone tonight during Asia and Europe sessions! If not, it's a pass and I'll get the next one!
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  • #3,777
  • Sep 21, 2016 5:48pm Sep 21, 2016 5:48pm
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Read 1st post , if you don't understand something , then , ask a question
  • #3,778
  • Sep 21, 2016 5:59pm Sep 21, 2016 5:59pm
So here is my view on EU. Please ignore the TDI indicator on the bottom.

First a wider view to get the whole picture:
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If you look at the green channel you can see that we were in an up trend for a long time. But this week we broke out of the channel to the downside and a new smaller channel is forming with the potential to move the price down.

If we take a closer look:
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We will see that the two channels are crossing at around 1.12500 with a small resistance from previous candles, seen with the small dotted red line.
We also see the yellow EMA 200, the round number 1.12000 and the SMA 5 all in the same region.
Most times zones like that are called zones or areas of confluence. Which mark a strong zone where price is going to hold and/or into sideways for some time.

Maybe the price will go up a little bit but I'm not expecting more then 30 pips until the cross and the zone around 1.12500.

And here comes now what I like to see for the next week. Will it happens? We don't know yet. Could it happen? Yes, many signs are given that something like this could be possible.

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I like to see a little move up, to get some momentum to the downside. Then it should be bouncing in the channel between the round numbers until we will hit the huge round number 1.10000 were we have another confluenze zone.

If you like you can also play little bit with fibonacci numbers:

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Marked are zones where more than one sign of resistance or any other indicator comes together to form an area of confluence where most times the price wil come to an hold.

I hope this will help a little bit and it's not to confusing to you.

I personally won't take any trade this week on Eu but maybe next week a sell opportunity.
But we have to revaluate every day.
It could be possible that the breakout from the uptrend channel was a fluke and the price will go back up into his former uptrend. We will never know until we see what it wil be doing.
  • #3,779
  • Sep 21, 2016 6:01pm Sep 21, 2016 6:01pm
I know it has been said that E/U is sideways.
However, when you look at where it bounced from. This looks like a really nice setup.
Yellow is 200 SMA
Because of this I one I will take this trade.

Attached Image
  • #3,780
  • Sep 21, 2016 6:03pm Sep 21, 2016 6:03pm
Quoting Oddbjorg
{quote} The reason why I sold uc is: Sma5 clearly gone through the closed candle. Close to upper bb, so there is space to run short. But just wait. This is why I took it. The teachers are around, so they will come with a real explanation. Oddbj.
Hi Oddbjorg,

Appreciate the response. The reason I asked is that UC clearly closed through the SMA5 the day before so this trade was against the rules, but a number of people were taking it.
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