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  • #221
  • Dec 31, 2016 2:38pm Dec 31, 2016 2:38pm
Apart from uncertainty surrounding the GBP, during retracement, none of the candles was able to even touch the lower band on CADCHF, unlike the GBPCHF.
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  • #222
  • Dec 31, 2016 3:07pm Dec 31, 2016 3:07pm
Irrespective of what shorter time frames traders have in mind, the interesting thing about trading the daily and longer time frames is that one can focus on many pairs. I have over twenty pairs I trade. EURCHF is such a funny pair. The signal is so unreliable.
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  • #223
  • Jan 1, 2017 12:05am Jan 1, 2017 12:05am
AUDCAD so far. There is a strong support below the daily. How will the support respond to the strong bearish move? Big question.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audcad-d1-fxpro-financial-services-aa.png Size: 36 KB
Click to Enlarge Name: audcad-d1-fxpro-financial-services-bb.png Size: 44 KB
Make all mistakes in demo and rain in pips in live account
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  • #224
  • Jan 1, 2017 12:08am Jan 1, 2017 12:08am
I told you here how Pepperstone and Axitrader closed my positions after a month of downloading their platforms and that I will still be following my positions. I have in them AUDUSD short, AUDCAD short, GBPCAD long. I still have them in my trade journal.
Make all mistakes in demo and rain in pips in live account
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  • #225
  • Jan 1, 2017 12:14am Jan 1, 2017 12:14am
There may be a strong retracement from the support, but may not be a threat to those who have been in when the daily closed below the lower band. Anyway. only the market can tell what would happen.
Make all mistakes in demo and rain in pips in live account
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  • #226
  • Jan 1, 2017 12:19am Jan 1, 2017 12:19am
AUDUSD chart
Attached Image (click to enlarge)
Click to Enlarge Name: audusd-d1-fxpro1.png Size: 36 KB
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #227
  • Jan 1, 2017 9:54am Jan 1, 2017 9:54am
STOCHASTIC OSCILLATOR TRADERS: AUDCAD short
For those who love and trade, using Stochastic Oscillator, we should be expecting strong trade setup on AUDCAD short. Stocks is already right on the oversold region and also there is a support that has to be broken while Stocks is oversold. There is already a near support. If it is broken when Stocks is oversold, then those who are not already in can join. It also offers opportunity to press your your trade by taking more positions.
Attached Image (click to enlarge)
Click to Enlarge Name: audcad-w1-fxpro-financial-servicesqqq.png Size: 41 KB
Make all mistakes in demo and rain in pips in live account
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  • #228
  • Jan 1, 2017 4:04pm Jan 1, 2017 4:04pm
Now that the monthly candles have closed I decided to check the new position, CADCHF. The monthly was able to close bullish with long shadow. I have shared the daily. The interesting thing about this pair is the positive swap, so great. CAD interest rate is currently at 0.50% while that of the NZD is at -0.75%. Even if the setup fails your positive swap helps, to some extent, reduce magnitude of the loss.
Attached Image (click to enlarge)
Click to Enlarge Name: cadchf-mn1-fxpro-financial-services1.png Size: 32 KB
Make all mistakes in demo and rain in pips in live account
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  • #229
  • Edited 4:51pm Jan 1, 2017 4:41pm | Edited 4:51pm
Sometimes using correlation helps to predict the next movement of the correlated pair. While the NZDCHF was bullish, NZDJPY was moving sideways. Apart from the strategy am using for backtest I felt the correlated pair NZDJPY would be bullish during breakout. Am still bullish on NZDJPY. Why am I bringing these two here? Though all currencies are correlated, the degree of their correlation is different. CHF and JPY share some degree of correlation. And so CADJPY had been strongly bullish. Therefore no surprised now about the CADCHF
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #230
  • Jan 2, 2017 4:44am Jan 2, 2017 4:44am
Quoting 9jatrader
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...
I got in late this morning. Some brokers opened too late. I thought this one was not going to open today. I was receiving " Market Close " each time I tried to enter my position.
Attached Image (click to enlarge)
Click to Enlarge Name: cadchf-d1-ifcmarkets-corp-2.png Size: 34 KB
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  • #231
  • Jan 2, 2017 4:55am Jan 2, 2017 4:55am
Always check your position/pair before entry-whether live or demo. Am short on EURUSD and long on EURAUD. These are not placed in one platform, otherwise I will be buying EURO and at the same time selling EURO. That's counterproductive. While one is making profit the other one will be making loss. Your account will be milling around in circle.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #232
  • Edited 6:10pm Jan 2, 2017 10:29am | Edited 6:10pm
I just lost out in AUDNZD long. Stochastic is already on oversold region for short trade setup. Also the pair was closing below lower band.
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd-d1-alpari-international-limited www.png Size: 44 KB
Make all mistakes in demo and rain in pips in live account
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  • #233
  • Jan 2, 2017 10:33am Jan 2, 2017 10:33am
If you have been following me you would know that I always wanted to get out of this position. The pair I entered with another strategy - Hammer with lower band breakout.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #234
  • Jan 2, 2017 6:12pm Jan 2, 2017 6:12pm
No setup on the AUDNZD for now. It failed to break the support and Stocks is leaving oversold region.
Make all mistakes in demo and rain in pips in live account
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  • #235
  • Jan 3, 2017 3:35am Jan 3, 2017 3:35am
One of the characteristics of daily and longer times traders is the great virtue of patience. If you trade daily and longer time frames you must always experience a situation that market moves strongly against your setup even before the setup obeys. Am trying to bring our mind here on the trade I shared, EURAUD long trade setup. That is the reason I always advocate using the weekly candle to setup the SL.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #236
  • Jan 3, 2017 3:44am Jan 3, 2017 3:44am
Quoting 9jatrader
WHEN STRONG SETUP IS FORMED AT THE WRONG PLACE: On Friday there was a strong bearish engulfing on CADJPY weekly. This is one of the pairs am following with my strategy. This is strong setup in itself. But it was formed at the wrong place and the wrong time. For five weeks the bulls have been in constant control. There has not been any exhaustion during the movement. Also the upper and the lower band are strongly separated, and the bollinger angle is strong. The movement may take it to the middle band on the weekly. I do not see any game changer...
We can see what happens when strong setup is formed at the wrong place. The bulls are still ready to fly. It has formed a consolidation around the middle band on the daily. Besides BOJ is happy with the weakness of Yen. They tried everything possible to weaken the Yen. Market was even expecting "Helicopter" money policy/practice, but they never did. All the same Yen is so weak right now.
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy-d1-alpari-international-limited opop.png Size: 30 KB
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  • #237
  • Jan 3, 2017 11:21am Jan 3, 2017 11:21am
EURUSD is struggling to break below the weekly strong support
Attached Image (click to enlarge)
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Make all mistakes in demo and rain in pips in live account
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  • #238
  • Jan 3, 2017 11:23am Jan 3, 2017 11:23am
The bulls have no strength to take over for now. Bollinger bands are already pointing down. It may end to sideways, before continuation trade setup forms again
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #239
  • Jan 3, 2017 11:34am Jan 3, 2017 11:34am
The last monthly candle was really strong
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-mn1-alpari-international-limitedqqq.png Size: 40 KB
Make all mistakes in demo and rain in pips in live account
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  • #240
  • Jan 4, 2017 2:10am Jan 4, 2017 2:10am
After strong movement by JPY pairs they're are now moving sideways. Who knows what's next. Some use the opportunity to move SL. I do not move SL, because it can get triggered before moving toward your direction again.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpy-d1-alpari-ll.png Size: 27 KB
Make all mistakes in demo and rain in pips in live account
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