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A very simple system - trade with arrow

  • #1,921
  • Apr 11, 2017 7:33am Apr 11, 2017 7:33am
Quoting antonym
{quote} I see that price is rejected by 34ema. Are you expecting a breakout to the downside hence the tight stop?
this is a slow moving pair normally. I took a short because price was below the S/R (dark blue line) and also the rejection you mentioned.....Aud/Nzd would be better but I hardly trade that pair

EDit: triggered in on E/G
the cautious seldom err....C
  • #1,922
  • Apr 11, 2017 7:42am Apr 11, 2017 7:42am
Quoting antonym
{quote} Would you mind discussing a bit for the reasons of GU buy trade? I really have no clue, except that the entry is on the price breaking above 34ema on M15. I see that GU is facing some resistance now.
I am showing trades using this method..you can see price rejected the 200 ema on 3 ocassions and I entered on the 3rd pinbar candle which closed above the 34 ema with 1 min to spare. at the bottom you will find the HA candles on the 1 and 4 hour in the green as well...I will speak more later as it's my lunch time now
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD m15 (04-11-2017 1337).png Size: 46 KB
the cautious seldom err....C
  • #1,923
  • Apr 11, 2017 8:07am Apr 11, 2017 8:07am
Quoting pips29
{quote} this is a slow moving pair normally. I took a short because price was below the S/R (dark blue line) and also the rejection you mentioned.....Aud/Nzd would be better but I hardly trade that pair EDit: triggered in on E/G
Would you discuss a bit more on how the dark blue line is drawn?

To me, it is a higher TF s/r, and only a ballpark estimate. So lower TF PA is noisy around that s/r, and I would expect lower TF PA around this s/r to be more or less inaccurate, and I didn't expect M15 candle close below such a higher TF s/r would be predictive.

Good luck to E/G trade.
  • #1,924
  • Apr 11, 2017 8:15am Apr 11, 2017 8:15am
Quoting pips29
quite tricky to read pa on u/y...on the weekly the previous week was a doji (indecision) followed by another indecisive candle ,the hammer..the only good take from these are the clear indication of the rejection @110.10.,,,,,.the daily ended as a bullish candle (buob) after several rejection of the 110.10 level as shown by the wicky bottoms ... the 4 hour ended as a small doji after a big bullish candle..I am of the opinion that a buy within the blue zone would result in a profitable trade if price manages to come down..your thoughts?? {image} {image}...
I was triggered in with one entry a short while ago with another p/o further below..stop is just under 109.90...This is another method I use on the higher time frame with levels already marked out for entry/exit..mainly Ct and so traders with lesser experience it's better you just watch
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY H4 (04-11-2017 1409).png Size: 48 KB
the cautious seldom err....C
  • #1,925
  • Apr 11, 2017 8:18am Apr 11, 2017 8:18am
another CT method I often use is the 1-2-3 ..this short is taken on the 15 min with a tight stop of just about 10
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD m15 (04-11-2017 1416).png Size: 59 KB
the cautious seldom err....C
  • #1,926
  • Apr 11, 2017 8:23am Apr 11, 2017 8:23am
Quoting antonym
{quote} Would you discuss a bit more on how the dark blue line is drawn? To me, it is a higher TF s/r, and only a ballpark estimate. So lower TF PA is noisy around that s/r, and I would expect lower TF PA around this s/r to be more or less inaccurate, and I didn't expect M15 candle close below such a higher TF s/r would be predictive. Good luck to E/G trade.
this is how I drew the line on the 4 hour..sorry wrong chart..below is the kiwi chart
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSD H4 (04-11-2017 1422).png Size: 53 KB
Click to Enlarge Name: NZDUSD H4 (04-11-2017 1425).png Size: 52 KB
the cautious seldom err....C
  • #1,927
  • Apr 11, 2017 9:13am Apr 11, 2017 9:13am
let's see if we can get a nice pinbar rejection off the S/R... a nice candle would be one that reaches near the brn( 1.42) and closed below the level (S/R)...just wait 50 mins and we'll find out
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD H1 (04-11-2017 1509).png Size: 58 KB
the cautious seldom err....C
  • #1,928
  • Apr 11, 2017 9:28am Apr 11, 2017 9:28am
taken partial profits and locked in at b/e
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD m15 (04-11-2017 1527).png Size: 45 KB
the cautious seldom err....C
  • #1,929
  • Edited 9:54am Apr 11, 2017 9:33am | Edited 9:54am
lower entry was also trigerred...might get stopped out....let's see EDit: damn stopped out
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY H4 (04-11-2017 1531).png Size: 49 KB
the cautious seldom err....C
  • #1,930
  • Apr 11, 2017 9:35am Apr 11, 2017 9:35am
Quoting pips29
another CT method I often use is the 1-2-3 ..this short is taken on the 15 min with a tight stop of just about 10 {image}
1-2-3 did not work out...stopped out -8
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD m15 (04-11-2017 1534).png Size: 56 KB
the cautious seldom err....C
  • #1,931
  • Apr 11, 2017 9:44am Apr 11, 2017 9:44am
I am out of cable when my smallish target got hit..however I do have exposure on sterling with Eur/Gbp
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD m15 (04-11-2017 1542).png Size: 47 KB
the cautious seldom err....C
  • #1,932
  • Apr 11, 2017 9:50am Apr 11, 2017 9:50am
Quoting pips29
let's see if we can get a nice pinbar rejection off the S/R... a nice candle would be one that reaches near the brn( 1.42) and closed below the level (S/R)...just wait 50 mins and we'll find out {image}
as expected price did hit 1.42..let's wait another 10 mins to see if rejection happens or not. No rejection and closed below S/R no short for me
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD H1 (04-11-2017 1551).png Size: 51 KB
the cautious seldom err....C
  • #1,933
  • Apr 11, 2017 10:06am Apr 11, 2017 10:06am
taken 1/2 off and balance locked in at b/e+
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP m15 (04-11-2017 1604).png Size: 50 KB
the cautious seldom err....C
  • #1,934
  • Apr 11, 2017 11:03am Apr 11, 2017 11:03am
Quoting pips29
taken 1/2 off and balance locked in at b/e+ {image}
Hi pips29,
Would you mind discussing a bit on the EURGBP trade? I really have no clue. I see that this is a trade of 34ema but are there any larger TF picture reasons you are looking at for this trade?

Also, is it now a good idea to sell EURAUD? A bearish engulfing on H1.

Thank you.
  • #1,935
  • Apr 11, 2017 11:11am Apr 11, 2017 11:11am
Quoting antonym
{quote} Hi pips29, Would you mind discussing a bit on the EURGBP trade? I really have no clue. I see that this is a trade of 34ema but are there any larger TF picture reasons you are looking at for this trade? Also, is it now a good idea to sell EURAUD? A bearish engulfing on H1. Thank you.
I just switched off the laptop as it's getting hot and slow
Will reply in 3o minutes
the cautious seldom err....C
  • #1,936
  • Apr 11, 2017 12:05pm Apr 11, 2017 12:05pm
Quoting antonym
{quote} Hi pips29, Would you mind discussing a bit on the EURGBP trade? I really have no clue. I see that this is a trade of 34ema but are there any larger TF picture reasons you are looking at for this trade? Also, is it now a good idea to sell EURAUD? A bearish engulfing on H1. Thank you.
the daily down to 15 min is showing a downtrend with the 10ema below the 34 ema and price was below the 34 ema..Take a look at the 50 cci..it's below 0 for bearish..the trade was a pending sell on the 15 min...the 50cci has not crossed down below 0 but I thought if p/o was to be trigerred and when it did the cci would have dip below the 0 line. It sure did but the next candle brought it back up..As the trend on both 1 and 4 hour was pointing down the entry was in line with the htf . I have moved my stop down to have a r;r=1:1
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBP m15 (04-11-2017 1804).png Size: 42 KB
Click to Enlarge Name: EURGBP H1 (04-11-2017 1809).png Size: 44 KB
the cautious seldom err....C
  • #1,937
  • Apr 11, 2017 1:40pm Apr 11, 2017 1:40pm
gone short..will enter higher up near 1.42 should price decides to make a LH there
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD H1 (04-11-2017 1937).png Size: 54 KB
the cautious seldom err....C
  • #1,938
  • Apr 11, 2017 1:55pm Apr 11, 2017 1:55pm
That is quite a nice way, thanks for sharing it here. I would like to try it myself. Thanks a lot.
  • #1,939
  • Apr 12, 2017 2:39am Apr 12, 2017 2:39am
gone long for bullish continuation
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD m15 (04-12-2017 0838).png Size: 41 KB
the cautious seldom err....C
  • #1,940
  • Apr 12, 2017 3:08am Apr 12, 2017 3:08am
Quoting pips29
gone short..will enter higher up near 1.42 should price decides to make a LH there {image}
I added a second entry in a hurry not waiting for the candle to close . A better entry would have been at close or near close of the previous candle. Anyway, I am hopeful price will trending down looking at the pa...let's see
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD H1 (04-12-2017 0908).png Size: 51 KB
the cautious seldom err....C
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