A very simple system - trade with arrow | Page 111 | Forex Factory

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A very simple system - trade with arrow

  • #2,201
  • May 3, 2017 3:45am May 3, 2017 3:45am
all 3 positions closed, 22 pips, 36 pips and 33 pips respectivly, easy pips!
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  • #2,202
  • Edited 7:17am May 3, 2017 4:05am | Edited 7:17am
3 long positions opened on the DAX, we have rejection from the 200 ma and previous resistance turned to support, there is also hidden divergence. The 2 things i dont like is how price has gained momentum as this retrace has progressed and we have the weekly resistance just above (but just enough room for me to get a little more than a 1:1RR) so i will take this into account as im managing the trade.

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EDIT:

Not looking too good, but didnt quite reach enough profit to B/E on that push up

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EDIT 2:

Survived getting taken out by 1 pip

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EDIT:3

All trades closed for about 9 pips total, price was struggling to move higher so moved to b/e early after my narrow escape before and also we have non-farm news coming soon

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  • #2,203
  • May 3, 2017 4:51am May 3, 2017 4:51am
gone long looking for 1.3790
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the cautious seldom err....C
  • #2,204
  • May 3, 2017 8:27am May 3, 2017 8:27am
just got back from shopping duties, etc2 and now in a good position with e/y..I took 2 positions and target was hit with one earlier..locking in the 2nd one at b/e+....U/cad taken this morning is in the green too by 10 pips atm
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the cautious seldom err....C
  • #2,205
  • May 3, 2017 8:49am May 3, 2017 8:49am
Quoting pips29
just got back from shopping duties, etc2 and now in a good position with e/y..I took 2 positions and target was hit with one earlier..locking in the 2nd one at b/e+....U/cad taken this morning is in the green too by 10 pips atm {image}
I was watching this set up thinking that it looks like it could be a really nice trade, but i missed it as i was busy watching the dax. How many pairs do you watch? I have 8 open accross 2 screens which is a bit much, im thinking about buying a 3rd, because i only have 1 pairs charts open on each screen so theres alot of going between tabs.
  • #2,206
  • Edited 9:38am May 3, 2017 9:11am | Edited 9:38am
I have only one laptop open and that's enough for me...I scan thru' about 14 pairs very quickly as I have 6 yen pairs and by looking at 2 pairs, I can tell more or less what the other yen pairs look like..I have just chopped off my ucad for a loss of 6 pips as I feel n/u and a/u drop are a bit o/done...I am only keeping 1 trade ie e/y EDit: profit just taken, flat now
the cautious seldom err....C
  • #2,207
  • May 3, 2017 9:13am May 3, 2017 9:13am
Looking to sell this if we get a good bearish close on GU M15, but 4 min to go doesnt look like it
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  • #2,208
  • May 3, 2017 9:24am May 3, 2017 9:24am
Fomc in under 4 hours so trade carefully..I am looking to buy the commodity currencies...only when the price is right
the cautious seldom err....C
  • #2,209
  • May 3, 2017 10:16am May 3, 2017 10:16am
Pips29 when you see a move like this will you try to get entry on the 10 EMA or go down to a M5?
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  • #2,210
  • May 3, 2017 11:01am May 3, 2017 11:01am
Quoting lehmann
Pips29 when you see a move like this will you try to get entry on the 10 EMA or go down to a M5? {image}
I use pa at S/R to get in as it's a ct trade. I put on trendline
, fibs and look at candlesticks patterns. I would suggest splitting entries into 2 or 3 as getting the right timing is very difficult. The other option is to wait for the 10 to get above the 34ema .There will be some lost pips
the cautious seldom err....C
  • #2,211
  • May 3, 2017 4:32pm May 3, 2017 4:32pm
Quoting pips29
{quote} I use pa at S/R to get in as it's a ct trade. I put on trendline , fibs and look at candlesticks patterns. I would suggest splitting entries into 2 or 3 as getting the right timing is very difficult. The other option is to wait for the 10 to get above the 34ema .There will be some lost pips
i mean what will make you sell this, will you trade a bounce of the 10ema or just say its a missed opportunity and move on?
  • #2,212
  • May 3, 2017 5:19pm May 3, 2017 5:19pm
Quoting lehmann
{quote} i mean what will make you sell this, will you trade a bounce of the 10ema or just say its a missed opportunity and move on?
Yeah. ,sell when price pierce the 10 ema and closed below forming a upper wick is better than a bounce
Both are entry signals
the cautious seldom err....C
  • #2,213
  • Edited 2:25am May 4, 2017 1:18am | Edited 2:25am
Trying this EG


EDIT: Moved to BE
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  • #2,214
  • May 4, 2017 2:35am May 4, 2017 2:35am
DAX
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  • #2,215
  • Edited 3:05am May 4, 2017 2:38am | Edited 3:05am
Quoting lehmann
DAX {image}
That was quick, took half of and at BE now

EDIT: Closed last at 50 pips
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  • #2,216
  • May 4, 2017 3:29am May 4, 2017 3:29am
EG Stopped out at BE
  • #2,217
  • May 4, 2017 9:07am May 4, 2017 9:07am
not an easy day so far..this trade took unusually long to give me some green pips..
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the cautious seldom err....C
  • #2,218
  • Edited May 5, 2017 4:02am May 4, 2017 9:51am | Edited May 5, 2017 4:02am
Quoting pips29
not an easy day so far..this trade took unusually long to give me some green pips.. {image}

Picked up +20 on a similar type set up as yours.
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Your trade order needs to be in the right place at the right time.
  • #2,219
  • May 4, 2017 3:20pm May 4, 2017 3:20pm
Touchë
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  • #2,220
  • May 5, 2017 4:27am May 5, 2017 4:27am
the 4 hour candle that closed 25 mins ago...beeb on both ecad and eaud...will look to sell..any thoughts?
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the cautious seldom err....C
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