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  • #361
  • Jan 12, 2017 11:05am Jan 12, 2017 11:05am
I though the daily strong hammer was ready to break the weekly resistance.
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  • #362
  • Jan 12, 2017 11:06am Jan 12, 2017 11:06am
Small profit better than none
Make all mistakes in demo and rain in pips in live account
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  • #363
  • Jan 12, 2017 11:23am Jan 12, 2017 11:23am
Tweezers Top
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  • #364
  • Jan 12, 2017 12:02pm Jan 12, 2017 12:02pm
I wish to update you on this pair later when market has closed
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  • #365
  • Jan 12, 2017 2:10pm Jan 12, 2017 2:10pm
hi 9jatrader, I don't normally trade with BB but i'm enjoying your thread.

Can you clarify re-entries for me.

In the weekly chart ChfJpy below we can clearly see that price went through the center line many weeks ago

Attached Image (click to enlarge)
Click to Enlarge Name: Atom8 MetaTrader 4 Terminal.png Size: 15 KB



Now on the daily the price has retraced. If the daily goes back up and closes above the upper BB would you re-enter? even though it has been going up for weeks. thanks

Attached Image (click to enlarge)
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  • #366
  • Jan 12, 2017 4:38pm Jan 12, 2017 4:38pm
Quoting kraven
hi 9jatrader, I don't normally trade with BB but i'm enjoying your thread. Can you clarify re-entries for me. In the weekly chart ChfJpy below we can clearly see that price went through the center line many weeks ago Atom8 MetaTrader 4 Terminal.png;2138064 Now on the daily the price has retraced. If the daily goes back up and closes above the upper BB would you re-enter? even though it has been going up for weeks. thanks Atom8 MetaTrader 4 Terminal d.png;2138068 {image} {image}
Thank you for joining us here. As you already known the main reason of this thread is to catch trend at the beginning. It's late now to join. We can get in/join if another trade setup- continuation setup is formed and it's strong. Also we can use Stochastic to join. If resistance is broken while the Stochastic is overbought we join/take another position.
Make all mistakes in demo and rain in pips in live account
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  • #367
  • Jan 12, 2017 4:47pm Jan 12, 2017 4:47pm
There are already resistance nearby. If the weekly is able to close above the resistance, while Stochastic is oversold. The weekly was not able yet.
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  • #368
  • Jan 12, 2017 4:50pm Jan 12, 2017 4:50pm
Weekly Stochastic is already leaving the overbought region. The daily is on 20 and so no clear new signal yet
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  • #369
  • Jan 12, 2017 4:53pm Jan 12, 2017 4:53pm
I have closed my CADCHF long position and am on the sideline on the pair. I wanted to use a sell stop, pending order. I decided to stay away now.
Make all mistakes in demo and rain in pips in live account
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  • #370
  • Jan 12, 2017 5:02pm Jan 12, 2017 5:02pm
Hi Kraven, still on the CHFJPY the bulls are still in control on the weekly, but the daily is forming Bollinger Bands Squeeze. Traders are closing their positions on the pair to collect their profits and they're staying on the sideline. There is higher probability that the bulls will return.
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  • #371
  • Jan 12, 2017 5:14pm Jan 12, 2017 5:14pm
On my daily chart chfjpy closed just below the lower bb. Is it possible to go short?
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  • #372
  • Jan 12, 2017 5:21pm Jan 12, 2017 5:21pm
Quoting Sanbernardin
On my daily chart chfjpy closed just below the lower bb. Is it possible to go short? {image}
No. The other conditions are not met: 1. It must be on ranging/sideways market. The daily and the weekly had been trending strongly. We can't go short now. 2. The weekly is not even near the middle band, let alone closing below the middle band.
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  • #373
  • Jan 12, 2017 5:24pm Jan 12, 2017 5:24pm
The upper and the lower bands on the weekly are strongly separated. And so it's difficult for the bears to take over from the bulls
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  • #374
  • Jan 12, 2017 5:28pm Jan 12, 2017 5:28pm
Uptrend is likely to resume. I have said in the past that when Bollinger Bands formed after strong trend, the breakout will more like in the same previous direction.
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  • #375
  • Jan 12, 2017 5:45pm Jan 12, 2017 5:45pm
Quoting 9jatrader
Hi Kraven, still on the CHFJPY the bulls are still in control on the weekly, but the daily is forming Bollinger Bands Squeeze. Traders are closing their positions on the pair to collect their profits and they're staying on the sideline. There is higher probability that the bulls will return.
thanks for replying.

I realize that at this moment CJ is not an entry. I am talking about IF the daily continues on it's long run up and closes above the upper band. IF this happens 9/10 the Stoc's will be overbought as we are hitting new heights. would you re-enter even though the weekly crossed over mid BB weeks ago?

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  • #376
  • Jan 13, 2017 7:53am Jan 13, 2017 7:53am
Quoting kraven
{quote} thanks for replying. I realize that at this moment CJ is not an entry. I am talking about IF the daily continues on it's long run up and closes above the upper band. IF this happens 9/10 the Stoc's will be overbought as we are hitting new heights. would you re-enter even though the weekly crossed over mid BB weeks ago? Atom8 MetaTrader 4 Terminal d.jpg;2138311 {image}
Yes, it would be an opportunity to join the bulls- if Stochastic is on overbought region. Also another opportunity on the pair is when the daily consistently reject the lower band. That is when the candles continue to refuse to close below the lower band during retracement. Joining at the rejection is because there is already an established bullish trend. But I will not be joining the bulls on CHFJPY because of the NZDJPY bullish position that has been doing great. I don't want to increase my risk. NZDJPY is currently trapped below the broken support, now acting as a strong resistance
Make all mistakes in demo and rain in pips in live account
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  • #377
  • Edited 10:35am Jan 13, 2017 8:20am | Edited 10:35am
When the weekly and the daily has closed during the weekend I have some review. I cannot say anything now until the weekly and the daily have closed. I will have them this weekend.
Make all mistakes in demo and rain in pips in live account
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  • #378
  • Jan 13, 2017 12:30pm Jan 13, 2017 12:30pm
After weekly close, can you look at cadchf short? It looks like it may be setting up.

EZ
  • #379
  • Jan 13, 2017 1:16pm Jan 13, 2017 1:16pm
EG looks promising on weekly but today not too strong
  • #380
  • Jan 13, 2017 7:36pm Jan 13, 2017 7:36pm
Hi Kraven and EZcurrency, it's surprising you guys already knew some of the pairs I was going to talk about
I have already shared the daily and the weekly setup on the EURGBP long on the day it was formed. Now the weekly has finally closed above the middle band. If you decide to join now it means you're more at risk than the day I shared the setup because of the retracement. Also you need the weekly candle to set SL now than before. I will never recommend daily now. Since the SL will be on the weekly, take small lot size to reduce risk.

CADCHF: This pair has formed Doji with bullish body on the weekly. I was expecting a better setup on the daily. As long as the resistance was not broken on both the daily and the weekly, it means that it has the higher probability to come down. Stochastic has already left overbought region. It's even better on the daily, with the last two candles away.

EURAUD: This pair is finding it difficult to break the support I pointed out earlier. Stochastic already crossing to leave oversold. I just need more information on the to join. Candles are already rejecting the lower band.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: euraud-d1sss.png Size: 40 KB
Make all mistakes in demo and rain in pips in live account
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