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Monthly Profit - Daily Trading using SMA

  • #5,701
  • Oct 8, 2016 12:57pm Oct 8, 2016 12:57pm
Nzd/cad long not good for me.
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  • #5,702
  • Oct 8, 2016 3:16pm Oct 8, 2016 3:16pm
  •  jmmn
  • | Joined Nov 2015 | Status: Learning while making money... | 648 Posts
Quoting Trucomallica
Short AJ, Long NC. 2% risk each.
NO short AJ because W is up
  • #5,703
  • Oct 8, 2016 3:22pm Oct 8, 2016 3:22pm
  •  jmmn
  • | Joined Nov 2015 | Status: Learning while making money... | 648 Posts
Quoting Filipo1
My selection for tomorrow opening: Long: NZD/CAD Short: AUD/JPY CAD/JPY CHF/JPY Due to cumulated JPY long exposure I will take ionly 1 position of each.
CHFJPY: Imagine that you are applying this same strategy with the weekly charts.

If so, you would start a long chfjpy position because SMA has just been clearly crossed up.

Would you go then short on this pair on a daily basis?

Trying to help with food for thought!
  • #5,704
  • Oct 8, 2016 5:17pm Oct 8, 2016 5:17pm
Quoting ola08
{quote} At the moment, GU has strong fundamentals around it -brexit and the aftermath- and a very strong downward bias. Don't attempt to buy it now. It will be synonymous with holding a venomous serpent by the tail. Only scalpers can jump in and out to take small quick profits on the short retracements. Smart scalpers will not even attempt to go long on GU at the moment. My 2 cents.
your correct, GU still in downtrend. i cut loss all my posisition. thanks
  • #5,705
  • Oct 8, 2016 5:28pm Oct 8, 2016 5:28pm
Quoting jmmn
{quote} NO short AJ because W is up
But Monthly is down, I'm so confused
It takes a lot for me to IGNORE you, but you can try.
  • #5,706
  • Oct 8, 2016 6:03pm Oct 8, 2016 6:03pm
EURAUD looks like good to going up (Daily TF)
Any comment on this pair?
Let Market Tell You
  • #5,707
  • Oct 8, 2016 7:09pm Oct 8, 2016 7:09pm
Suspicious entry due to the most recent 13 daily candles are in a congested sideways move. Personally, I would look for a better setup.

Good luck with your trading!
  • #5,708
  • Oct 8, 2016 8:32pm Oct 8, 2016 8:32pm
Quoting Monokl
EURAUD looks like good to going up (Daily TF) Any comment on this pair?
Sure, where were you 4 candles ago?

The way it see-saw, retracement entry is available
It takes a lot for me to IGNORE you, but you can try.
  • #5,709
  • Oct 8, 2016 9:44pm Oct 8, 2016 9:44pm
GBPJPY go still down!
I Think it will touch again there low. Moving average shows that still down what about your views that pairs?
Wait for GOOOOOD Time
  • #5,710
  • Oct 8, 2016 11:48pm Oct 8, 2016 11:48pm
Quoting FX-Flux
{quote} Don't take too much JPY
Indeed, and precisely for that reason I will take 3 positions in total rather two on one pair as recommended in post #1.
I used to be indecisive but now I'm not so sure...
  • #5,711
  • Oct 8, 2016 11:50pm Oct 8, 2016 11:50pm
Quoting mil19793
Nzd/cad long not good for me. {image}
Strange it looks perfect on my main broker''s chart
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I used to be indecisive but now I'm not so sure...
  • #5,712
  • Oct 8, 2016 11:55pm Oct 8, 2016 11:55pm
Quoting jmmn
{quote} CHFJPY: Imagine that you are applying this same strategy with the weekly charts. If so, you would start a long chfjpy position because SMA has just been clearly crossed up. Would you go then short on this pair on a daily basis? Trying to help with food for thought!
Ultimately I share your point of view however this strategy is about daily time frame and has proved to offer a high ratio of successful trades so before the next week ends eventually up we might still have some pips to collect with a temporary short position.
I used to be indecisive but now I'm not so sure...
  • #5,713
  • Oct 9, 2016 12:08am Oct 9, 2016 12:08am
Quoting jmmn
{quote} CHFJPY: Imagine that you are applying this same strategy with the weekly charts. If so, you would start a long chfjpy position because SMA has just been clearly crossed up. Would you go then short on this pair on a daily basis? Trying to help with food for thought!
P.S. pushing the analysis a bit further we can observe that the doüble top happened right on the 50% Fibonacci retracement of June 23 Brexit price action. Breaking the 61.8% S/R level where we closed would confirm the short entry.
I used to be indecisive but now I'm not so sure...
  • #5,714
  • Oct 9, 2016 12:09am Oct 9, 2016 12:09am
Quoting Filipo1
{quote} P.S. pushing the analysis a bit further we can observe that the doble top happened right on the 50% Fibonacci retracement of June 23 Brexit price action. Breaking the 61.8% S/R level where we closed would confirm the short entry.
Sorry forgot the chart
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I used to be indecisive but now I'm not so sure...
  • #5,715
  • Oct 9, 2016 12:11am Oct 9, 2016 12:11am
Quoting Erebus
{quote} But Monthly is down, I'm so confused

Choose a pair that shows uptrend on both weekly and monthly, as easy as that. Trend is your friend. I said it before one month back but was told to show my results before I speak
  • #5,716
  • Oct 9, 2016 12:19am Oct 9, 2016 12:19am
Quoting Filipo1
{quote} Strange it looks perfect on my main broker''s chart {image}
Nzdcad has massive resistance on weekly and monthly. Your risk reward wouLD be lopsided.
  • #5,717
  • Oct 9, 2016 12:35am Oct 9, 2016 12:35am
Quoting Monokl
EURAUD looks like good to going up (Daily TF) Any comment on this pair?
Euraud too late to entry, my entry on fibo 50 correction candle not actived :o(
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  • #5,718
  • Oct 9, 2016 12:46am Oct 9, 2016 12:46am
Quoting josephkee
{quote} Nzdcad has massive resistance on weekly and monthly. Your risk reward wouLD be lopsided.
Sorry but all I can see on my charts are weekly and monthly dojis and the ultimate monthly resistance stands a bit higher so again we could very well collect some 200-250 pips.
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I used to be indecisive but now I'm not so sure...
  • #5,719
  • Oct 9, 2016 12:51am Oct 9, 2016 12:51am
I think this is not a bad method, but a MA based strategy is only profitable, if you respect other basics.
After managed to find these basics, often is no need for MAs to get in profit.
I think for the beginning is this suitable to get in touch with the market, but make the homework and learn the hard way to understand price action.
Better to disable MAs from charts fast as possible.
Perfection is the enemy of good enough!
  • #5,720
  • Oct 9, 2016 12:52am Oct 9, 2016 12:52am
Quoting mil19793
{quote} Euraud too late to entry, my entry on fibo 50 correction candle not actived :o( {image}
Agree check post #5,567.
I used to be indecisive but now I'm not so sure...
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