Simple and profitable trading style

For those who trade, using Stochastic Oscillator, we may have short trade sooner than later. It's already going oversold. Then I will be out with loss in my bullish trade. I will join the bears as soon as possible

Which means if the support is broken while Stochs oversold the we go short. There is already a near support.

Good morning everyone here. Here is the support line I said yesterday, though late. Here is the chart. You would see the support levels. And Stochs already going oversold. If the Stocks finally gets to oversold and at the same time the support is broken, then we can go short. Please always remember your SL. Don't drive a car with eyes closed just because you're in an express way.

I would have loved to use a "Sell Stop Order" at the same level of my SL so that as soon as my SL is triggered then the bearish trades picks up. I just have to be patience this time and allow the candle to trigger it and see whether the bearish candle that breaks the support level is strong enough.

I see great move on the way.

If it fails to break the support while the Stocks is oversold, there is no need to go short. And if it breaks the support and the Stocks has left oversold, there is no need to go bearish also. The two conditions must be met.

I hereby remind you that when Stocks is between 80 and 20 no one knows the direction of the movement, especially if you're not in the trade. All we need is patience.

What do you mean by oil chart ?

Are you using the green background on your charts for special effects?

No. That's the colour I chose to use. I love black and white candlesticks. It may not be good with white background. I tried other colours that may make clear of Fibonnaci when I decide to use it. The orange green is better for me. The only special thing I show is when I share my weekly and the daily charts. You would see red rectangle on the daily candle and blue on the weekly candle.

Yesterday and this morning I shared my AUDNZD daily, showing how we could have short trade base on daily support breakout supported by Stochastic. You would see that the vertical line was also red, indicating that the chart is daily.

What do you mean by Crude if I have not answered your question. Two of us don't seem to understand each other. Make your question so clear to me.

Crude oil is correct.

In your post 186 where you say that crude could be used to trade usdcad I was hoping you would explain how would you do this.

That's fundamentals part of trading. When Oil slides down CAD also keeps sliding down. Oil is the main export of Canada. Mainly good for news traders. I do not trade news. I focus more on technical - candlestick.

Some traders trade Oil, Gold and other commodity. As long as the trader uses bollinger band, the strategy can be used also.

EURAUD was really ready for breakout in obedience to the strategy yesterday. Am still waiting

AUDCHF was also moving deep. This correlated with EURAUD. I did not want to share the chart since am already bullish in EURAUD. The weekly breakout on the AUDCHF was still the same strategy. I feel it's too late now on AUDCHF short, except a continuation trade setup is made.

How far will the setup on CADCHF long trade setup go? This is a strong hammer with bollinger lower band breakout. This is one of the trade setups that make great move. The interesting thing about the setup is that the hammer succeeded in closing with bullish body. Let me summarize what makes the setup a good setup.

1. There was already a bullish move on the pair. Then there was a retracement. And so during retracement, price strongly rejected the lower band and formed hammer, with "bullish" body.
2. This hammer, apart from having bullish body, formed bollinger lower band breakout. This gives great opportunity to have good SL, right below lower band.

Happy new year to you all. We hope that some of our trade setups that have been trapped because of holidays may finally receive volatility.

GBPCHF has some similarity with CADCHF. There is so much uncertainty surrounding GBP right now as a result of Brexit. I prefer CADCHF long. The interesting thing about the two setups is that they give opportunity to have good SL on the daily instead of my usual method of using the weekly candle to set my SL.