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Monthly Profit - Daily Trading using SMA

  • #5,721
  • Oct 9, 2016 1:02am Oct 9, 2016 1:02am
Quoting Filipo1
{quote} 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. {image} {image}
Hi
As you have rightly drawn the monthly. The dojis shows there are rejections hitting the resistance. There are not enough room to go further up. Look at weekly, similar scenarios. That's my analysis and I could be wrong. Personally I would not trade this pair. Cadyen and chfyen seems more likely with weekly and monthly kind of agree. Not all yen pairs are in agreement on the weekly.
Thanks
  • #5,722
  • Oct 9, 2016 1:25am Oct 9, 2016 1:25am
Quoting josephkee
{quote} Hi As you have rightly drawn the monthly. The dojis shows there are rejections hitting the resistance. There are not enough room to go further up. Look at weekly, similar scenarios. That's my analysis and I could be wrong. Personally I would not trade this pair. Cadyen and chfyen seems more likely with weekly and monthly kind of agree. Not all yen pairs are in agreement on the weekly. Thanks
It makes sense but this the famous dilema of half-full vs half-empty glass.
I view these dojis rather as price action coming back up after having failed on their way down.
I used to be indecisive but now I'm not so sure...
  • #5,723
  • Oct 9, 2016 4:47am Oct 9, 2016 4:47am
pairs im watchin. i hope it doenst bother anyone macd is shown.

regards


EURJPY
NZDUSD
USDJPY
USOil
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPY D1 (10-09-2016 1342).png Size: 74 KB
Click to Enlarge Name: NZDUSD D1 (10-09-2016 1344).png Size: 77 KB
Click to Enlarge Name: USDJPY D1 (10-09-2016 1344).png Size: 54 KB
Click to Enlarge Name: USOil D1 (10-09-2016 1346).png Size: 78 KB
  • #5,724
  • Oct 9, 2016 6:09am Oct 9, 2016 6:09am
I will trade CADJPY, NZDCAD, and AUDJPY if the rules are met. There are no high impact news throughtout the week (atleast according to the calender). Anyone else watching these pairs?
  • #5,725
  • Oct 9, 2016 8:08am Oct 9, 2016 8:08am
Quoting MichaelSch
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.
I agree. MA is a good way to practice pulling the trigger and to strengthen self discipline.

I think in the long run the best results will be achieved if one only trades in the direction of the trend (Dow theory).
  • #5,726
  • Oct 9, 2016 10:33am Oct 9, 2016 10:33am
  •  jmmn
  • | Joined Nov 2015 | Status: Learning while making money... | 647 Posts
Quoting Erebus
{quote} But Monthly is down, I'm so confused
Hi, erebus. M is also starting to go up...
  • #5,727
  • Oct 9, 2016 10:37am Oct 9, 2016 10:37am
  •  jmmn
  • | Joined Nov 2015 | Status: Learning while making money... | 647 Posts
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.
Good luck, filipo1, and all the best!
  • #5,728
  • Oct 9, 2016 11:46am Oct 9, 2016 11:46am
What do you guys think about EJ today?
  • #5,729
  • Oct 9, 2016 11:46am Oct 9, 2016 11:46am
Quoting jmmn
{quote} Good luck, filipo1, and all the best!
Thanks Jmmn, same for you.
In the end it is not important who is right or wrong as long as we can keep on learning from each other.
I used to be indecisive but now I'm not so sure...
  • #5,730
  • Oct 9, 2016 12:38pm Oct 9, 2016 12:38pm
Hi: I found these pairs meeting the rules:
Long:
USDTRY
USDCAD (this one is pending because it is almost at the top of its range; therefore, if it breaks 1.345, I will go long)
US Equities (pending the result of Trump-Clinton debate; if Hilary wins, Equities up and vice-versa)
USDNOK
EURNZD
NZDCAD
Short:
DAX

GBP pairs:
Pound still has a lot of room to go down particularly if Carney dismisses from his post as head of BOE.
UK Equities, too!
GL! I will take only one or two pairs.
  • #5,731
  • Oct 9, 2016 1:47pm Oct 9, 2016 1:47pm
Quoting Rookiezw
I will trade CADJPY, NZDCAD, and AUDJPY if the rules are met. There are no high impact news throughtout the week (atleast according to the calender). Anyone else watching these pairs?
With you on those and also considering NZD/JAP.
Waiting for market to open and see what gaps there are before final decision.
Think the USD/CAD is pick of the bunch.
Cheers
  • #5,732
  • Oct 9, 2016 1:57pm Oct 9, 2016 1:57pm
So many JPY pairs..

SELL :

AUD/JPY
CHF/JPY

BUY :

NZD/CAD - but don't like that resistance..
Read 1st post , if you don't understand something , then , ask a question
  • #5,733
  • Oct 9, 2016 2:08pm Oct 9, 2016 2:08pm
Quoting Ghibli
So many JPY pairs.. SELL : AUD/JPY CHF/JPY BUY : NZD/CAD - but don't like that resistance..
Why not CADJPY ?
  • #5,734
  • Oct 9, 2016 2:18pm Oct 9, 2016 2:18pm
Quoting Ghibli
So many JPY pairs.. SELL : AUD/JPY CHF/JPY BUY : NZD/CAD - but don't like that resistance..
Thanks Mr Filip! Here are my recommendations
Short CAD/JPY and USD/JPY
  • #5,735
  • Oct 9, 2016 2:19pm Oct 9, 2016 2:19pm
Quoting Bestof27
{quote} Why not CADJPY ?
Hi , there are many JPY pairs..I can take U/J or C/J - all look very good..but I dont want to enter four trades on one currency
Read 1st post , if you don't understand something , then , ask a question
  • #5,736
  • Oct 9, 2016 2:48pm Oct 9, 2016 2:48pm
Hello. Audjpy short. Thank you. Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #5,737
  • Oct 9, 2016 3:24pm Oct 9, 2016 3:24pm
Mr Yonnie is missing today... I hope he will post his setups soon
  • #5,738
  • Oct 9, 2016 3:32pm Oct 9, 2016 3:32pm
Quoting Bk8
Mr Yonnie is missing today... I hope he will post his setups soon
cadjpy, seems good trade for today bets of luck
  • #5,739
  • Oct 9, 2016 4:09pm Oct 9, 2016 4:09pm
USD/JPY - Short
CAD/JPY - Short.
Let's see how they go.
  • #5,740
  • Oct 9, 2016 5:37pm Oct 9, 2016 5:37pm
Quoting arielcorp
USD/JPY - Short CAD/JPY - Short. Let's see how they go.
Same here, i took UJ and CJ too..
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