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A very simple system - trade with arrow

  • #2,181
  • May 2, 2017 4:07am May 2, 2017 4:07am
stopped out for 3 pips..was up 30 earlier
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the cautious seldom err....C
  • #2,182
  • May 2, 2017 4:10am May 2, 2017 4:10am
Quoting pips29
gone long chf/yen {image}
at b/e+25
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the cautious seldom err....C
  • #2,183
  • May 2, 2017 4:18am May 2, 2017 4:18am
gone long the kiwi
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the cautious seldom err....C
  • #2,184
  • May 2, 2017 4:28am May 2, 2017 4:28am
short with 10 pips stop
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Click to Enlarge Name: USDCADM15.png Size: 62 KB
the cautious seldom err....C
  • #2,185
  • May 2, 2017 4:31am May 2, 2017 4:31am
decided to take profit 10 pips ahead of target
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the cautious seldom err....C
  • #2,186
  • May 2, 2017 4:44am May 2, 2017 4:44am
Hi Pips29,

what is your target on the USD/CAD trade? 1.3636 ?
  • #2,187
  • May 2, 2017 4:46am May 2, 2017 4:46am
I just took a look at a skype group upon an invite but I can't see the person who invited me..he must have given me the wrong link..anyone in a skype group? gonna take a short walk bb soon
the cautious seldom err....C
  • #2,188
  • May 2, 2017 5:41am May 2, 2017 5:41am
Quoting pips29
gone long the kiwi {image}
Hi pips29,

Would you discuss a bit about the reasons behind the short for USDCAD? Is this a counter trend trade? Both H1 and H4 have 10 above 34.

Thank you.
  • #2,189
  • May 2, 2017 6:02am May 2, 2017 6:02am
Quoting bigfoot2018
Hi Pips29, what is your target on the USD/CAD trade? 1.3636 ?
target 1.36185 and stop 1.36682 entered at 1.36582
the cautious seldom err....C
  • #2,190
  • May 2, 2017 6:11am May 2, 2017 6:11am
Quoting antonym
{quote} Hi pips29, Would you discuss a bit about the reasons behind the short for USDCAD? Is this a counter trend trade? Both H1 and H4 have 10 above 34. Thank you.
I entered when price rejected the 34 ema and closed below the 10 ema on the 15 min, on H1 the price dropped below the 34 ema and yes on H1 and H4 the 10 ema is still above the 34 ema. In addition the trade was taken when price was below the 10 ema on the 4 hour..as the htf is still uptrend I put a small stop of 10 for 40
the cautious seldom err....C
  • #2,191
  • May 2, 2017 6:22am May 2, 2017 6:22am
https://www.forexfactory.com/showthr...p?t=345586..go to this link to learn more about the 10 ema
the cautious seldom err....C
  • #2,192
  • May 2, 2017 6:26am May 2, 2017 6:26am
stopped out , minor damage..htf rules
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Click to Enlarge Name: USDCADM15.png Size: 60 KB
the cautious seldom err....C
  • #2,193
  • May 2, 2017 8:46am May 2, 2017 8:46am
Hi Pips,
What R:R are you aiming for with your trades. 1:1, 2:1 or greater?
Regards
Rob
Your trade order needs to be in the right place at the right time.
  • #2,194
  • May 2, 2017 9:08am May 2, 2017 9:08am
Quoting Islandfx911
Hi Pips, What R:R are you aiming for with your trades. 1:1, 2:1 or greater? Regards Rob
risk:reward usually 1:2 not less than 1
the cautious seldom err....C
  • #2,195
  • Edited 6:32pm May 2, 2017 9:37am | Edited 6:32pm
Quoting pips29
https://www.forexfactory.com/showthr...p?t=345586..go to this link to learn more about the 10 ema
Hi pips, I have studied the thread before. And I have learned the following.

1. The numerical conversion between 10ema on different TF, e.g. 200ema on H1 = 10ema on D1
2. Price position with respect to 10ema would suggest bullish/bearish condition.
3. 10ema sometimes act as s/r and when price react to it, such a reaction can be a signal to trade.

I am not sure if I get this correctly. So the decision was made because price below a 10ema would suggest bearishness? Where I find conflict is that although price is below 15-min and H4 10ema, it could be above 10ema on H1. Would you suggest if my understanding is correct and how to make decision when there are conflicting evidences? From your experience, what would be the correct way to use 10ema?

Thank you.

Edt: I think the post is too long and the writing is a bit unclear. In short, if price is crossing above 10ema on H1 and M15 around the same time (as you did in the kiwi trade), would you consider it as a good buy entry point?
  • #2,196
  • May 2, 2017 11:06am May 2, 2017 11:06am
I did say I will do trend following trades but I really have to take this...this is one candlestick pattern that I learn first and whenever I see something like that I just have to take the trade regardless especially after a strong run with the adr exceeded..I am not looking for much and a small retracement will do me nicely
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM15.png Size: 55 KB
the cautious seldom err....C
  • #2,197
  • May 2, 2017 11:52am May 2, 2017 11:52am
Quoting pips29
I did say I will do trend following trades but I really have to take this...this is one candlestick pattern that I learn first and whenever I see something like that I just have to take the trade regardless especially after a strong run with the adr exceeded..I am not looking for much and a small retracement will do me nicely {image}
let's see if I can get lucky this time as the previous entry cost me -9 pips...take care , logging off soon
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM15.png Size: 55 KB
the cautious seldom err....C
  • #2,198
  • May 2, 2017 6:05pm May 2, 2017 6:05pm
Quoting pips29
gone long the kiwi {image}
one entry was hit with some +ve slippage when red news were announced. I closed the other entry manually as I need to get some sleep..I reckon I will sleep soundly tonight ..keep hunting dem green pips
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDM15.png Size: 53 KB
the cautious seldom err....C
  • #2,199
  • May 2, 2017 6:28pm May 2, 2017 6:28pm
Quoting pips29
{quote} one entry was hit with some +ve slippage when red news were announced. I closed the other entry manually as I need to get some sleep..I reckon I will sleep soundly tonight ..keep hunting dem green pips {image}
Hi pips29,

Congratulation on the green pips. I hesitated on this one because I didn't see much previous price action.
  • #2,200
  • Edited 2:00am May 3, 2017 1:43am | Edited 2:00am
Good morning, currently long 3 positions on the GJ, entry off previous weekly resistance turned support and the 200ma with a strong uptrend in my favor. Price also broke through monthly resistance yesterday and is now heavily rejecting it as support on 1H.

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