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A very simple system - trade with arrow

  • #2,001
  • Apr 17, 2017 11:24am Apr 17, 2017 11:24am
Quoting pips29
{quote} Rob, it was based on S/R and those wicks were telling me not to short...I have to decide whether to go long and weighing out the odds I took the move...Please note the wicks were not telling me to long BUT only Not to short...I was actually waiting for price to be nearer the bottom of the box I drew but on many ocassions when I did that I missed the entry and the trade altogether..in this case I decided a 20 pips stop instead of a 10 pips if entry was lower..by the look of it price should hit .76 (brn) {image}
I mentioned price should hit 0.76 and it did..I am showing the 1 hour chart
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD H1 (04-17-2017 1723).png Size: 47 KB
the cautious seldom err....C
  • #2,002
  • Apr 17, 2017 9:04pm Apr 17, 2017 9:04pm
Quoting pips29
{quote} I mentioned price should hit 0.76 and it did..I am showing the 1 hour chart {image}
Hi pips29,

I have a question that's been intriguing me for a while. If an s/r is broken, can I simply assume that price will move on and touch the next s/r? Is there any consideration behind your judgment that 0.76 will be hit?

Thank you.
  • #2,003
  • Apr 18, 2017 1:49am Apr 18, 2017 1:49am
Quoting antonym
{quote} Hi pips29, I have a question that's been intriguing me for a while. If an s/r is broken, can I simply assume that price will move on and touch the next s/r? Is there any consideration behind your judgment that 0.76 will be hit? Thank you.
yes, that's normally the case when you see continuation,in this case (A/U) a bullish move.....below is the 4 hour chart of the geppy..Atm I see some resistence but I believe this will be overcome with the bullish continuation towards the next level up..the levels marked are approximates so give and take say 15 pips..I will not be able to trade this morning as I will leave the house in 30 mins and back afternoon..just to let you know I do have a long in geppy
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY H4 (04-18-2017 0749).png Size: 41 KB
the cautious seldom err....C
  • #2,004
  • Apr 18, 2017 2:00am Apr 18, 2017 2:00am
Quoting pips29
{quote} I mentioned price should hit 0.76 and it did..I am showing the 1 hour chart {image}
price is now at this level...will it hold or will price go lower to the next
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD H1 (04-18-2017 0759).png Size: 45 KB
the cautious seldom err....C
  • #2,005
  • Apr 18, 2017 2:03am Apr 18, 2017 2:03am
Quoting pips29
{quote} yes, that's normally the case when you see continuation,in this case (A/U) a bullish move.....below is the 4 hour chart of the geppy..Atm I see some resistence but I believe this will be overcome with the bullish continuation towards the next level up..the levels marked are approximates so give and take say 15 pips..I will not be able to trade this morning as I will leave the house in 30 mins and back afternoon..just to let you know I do have a long in geppy {image}
I see. Thank you.

I see that the GBPJPY H4 candle hasn't closed yet and you seem to anticipate that price will break and close above this resistance level. I agree with this reading of PA as price does look very strong on M15, very shallow retracement.
  • #2,006
  • Apr 18, 2017 2:09am Apr 18, 2017 2:09am
Quoting pips29
{quote} price is now at this level...will it hold or will price go lower to the next {image}
I think it's more likely to go lower, at least to 0.7530, judging from the bearish flag and the three very bearish M15 candle at 3:45. But I could be over-reading the PA.
  • #2,007
  • Apr 18, 2017 6:11am Apr 18, 2017 6:11am
Quoting pips29
{quote} this is pattern trading and not the 10/34 ema trend trading method...took 2 entries today, one with the TL in mind...let's see if the shampoo play out..I traded this off the 1 hour chart {image}
I had taken one position out yesterday for an average of +45 and left another for price to play out the shampoo. I am now taking 1/2 out and moved stop to b/e...on another note I am so frustrated with the geppy as I was stopped out for +20 as I moved the stop up.Price is now destined for the next level @138.20 +,- 15 pips..I am now at home and will have to look for a trade shortly...any potential trade guys?
Attached Image (click to enlarge)
Click to Enlarge Name: USOil H1 (04-18-2017 1211).png Size: 48 KB
the cautious seldom err....C
  • #2,008
  • Apr 18, 2017 6:22am Apr 18, 2017 6:22am
I mentioned on the TMS thread in response to fellow trader Maloney a few days ago, that cable will probably reverse and hit 1.2700...it's becoming a reality now
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD H4 (04-18-2017 1219).png Size: 40 KB
the cautious seldom err....C
  • #2,009
  • Apr 18, 2017 6:24am Apr 18, 2017 6:24am
Quoting antonym
{quote} I think it's more likely to go lower, at least to 0.7530, judging from the bearish flag and the three very bearish M15 candle at 3:45. But I could be over-reading the PA.
yes, antonym, price is bearish and I look forward to shorting...let's see if an entry is available on the 15 min
the cautious seldom err....C
  • #2,010
  • Apr 18, 2017 6:29am Apr 18, 2017 6:29am
the loonie looks good for an upmove and I will wait for a reaction @ 1.3320 or thereabout
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD m15 (04-18-2017 1227).png Size: 47 KB
the cautious seldom err....C
  • #2,011
  • Apr 18, 2017 6:33am Apr 18, 2017 6:33am
gone short with a p/sell higher up ..stop @.7566
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD m15 (04-18-2017 1232).png Size: 48 KB
the cautious seldom err....C
  • #2,012
  • Apr 18, 2017 6:37am Apr 18, 2017 6:37am
Let's see if the 1 hour S/R on E/U can be broken easily or not
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD H1 (04-18-2017 1236).png Size: 53 KB
the cautious seldom err....C
  • #2,013
  • Apr 18, 2017 6:41am Apr 18, 2017 6:41am
Quoting pips29
I mentioned on the TMS thread in response to fellow trader Maloney a few days ago, that cable will probably reverse and hit 1.2700...it's becoming a reality now {image}
Traded GU long around LO. Moved to BE after rejection of BRN. Out at BE now watching the rally towards my 2nd TP.
Attached Image (click to enlarge)
Click to Enlarge Name: GU.png Size: 60 KB
Your trade order needs to be in the right place at the right time.
  • #2,014
  • Apr 18, 2017 6:49am Apr 18, 2017 6:49am
Quoting Islandfx911
{quote} Traded GU long around LO. Moved to BE after rejection of BRN. Out at BE now watching the rally towards my 2nd TP. {image}
oh, such luck but you could have entered at the close of the bullish candle that came back up and closed above both the 10/34 ema..Next time when you see the cci drop below the 0 level and moved up so sharply above the 0, price momentum must be very strong
the cautious seldom err....C
  • #2,015
  • Apr 18, 2017 6:59am Apr 18, 2017 6:59am
If you use the 15 min, there was an entry where I drew the vertical blue line and also an entry on the next candle (spinning top) when price rejected the 34 ema and closed above the 10 ema...either entry is good for nearly 100 pips...unfortunately I wasn't around..I am still feeling a bit of discomfort after my morning at the hospital
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png Size: 52 KB
the cautious seldom err....C
  • #2,016
  • Edited 7:12am Apr 18, 2017 6:59am | Edited 7:12am
Quoting pips29
{quote} oh, such luck but you could have entered at the close of the bullish candle that came back up and closed above both the 10/34 ema..Next time when you see the cci drop below the 0 level and moved up so sharply above the 0, price momentum must be very strong
Hi Pips,
Thanks for the input. Much appreciated.
Edit: My trades are taken off the 30 min TF at the moment as this is what I have back tested and traded successfully for the last couple of months. I am monitoring 15 min setups along side my 30 min entries and will start trading them soon when confident to do so.

Hospital visit does not sound good. Back playing up again?

Regards
Rob
Your trade order needs to be in the right place at the right time.
  • #2,017
  • Apr 18, 2017 7:07am Apr 18, 2017 7:07am
Quoting pips29
Let's see if the 1 hour S/R on E/U can be broken easily or not {image}
price did break the S/R on the 1 hour but ended with an upper wick off this level...not so impressive..will monitor for a possible short ,if not I will just not trade it..
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD H1 (04-18-2017 1304).png Size: 48 KB
the cautious seldom err....C
  • #2,018
  • Apr 18, 2017 7:17am Apr 18, 2017 7:17am
got these lines on the daily of the swissy
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF D1 (04-18-2017 1316).png Size: 48 KB
the cautious seldom err....C
  • #2,019
  • Apr 18, 2017 7:48am Apr 18, 2017 7:48am
Quoting Islandfx911
{quote} Hi Pips, Thanks for the input. Much appreciated. Edit: My trades are taken off the 30 min TF at the moment as this is what I have back tested and traded successfully for the last couple of months. I am monitoring 15 min setups along side my 30 min entries and will start trading them soon when confident to do so. Hospital visit does not sound good. Back playing up again? Regards Rob
That's what I notice . just carry on doing what you're comfortable with since you have found success on the 30 min..It wasn't my back..I had a colonoscopy done and it's really a tremendous pain in the arse literally speaking
the cautious seldom err....C
  • #2,020
  • Apr 18, 2017 7:50am Apr 18, 2017 7:50am
Ouch !!!
Your trade order needs to be in the right place at the right time.
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