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Simple Trading Thread

  • #1
  • First Post: May 17, 2017 2:43am May 17, 2017 2:43am
This trading system based on 200 SMAs in weekly, Daily and 4 H Charts with a little mix of stochastic oscillator. Rest using structure and various PA tools like trend line, channels, S/R levels. Lot of discretion is being used as PA is the basic tool used for decision making.
  • #2
  • May 17, 2017 2:45am May 17, 2017 2:45am
Trade entered in EURGBP
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  • #3
  • May 17, 2017 4:08am May 17, 2017 4:08am
It's good to see my homeland expert.

Can you please also mention the reasons of your expectation? As a newbie trader, it looks like bullish continuous flag to me.

Aaz
  • #4
  • May 17, 2017 4:29am May 17, 2017 4:29am
[quote=aazishhunain;9876602]It's good to see my homeland expert. Can you please also mention the reasons of your expectation? As a newbie trader, it looks like bullish continuous flag to me. Aaz[/q
Its just nothing, except the rejection from 200 SMA in Daily chart viewed in lower TFs. Moreover during the formation of this bull flag, it got rejected three times and every time the previous high of the flag formation was violated which means to me all earlier traders were flushed out.
now price is below daily 200 SMA but above weekly and 4 H 200 SMA, which means at the moment trned seems confused. this trade was taken in two parts. profit target hit for part one and now SL is to BE and target in place. now this risk free trade.
and i am looking for next trade
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  • #5
  • May 17, 2017 4:35am May 17, 2017 4:35am
It all depends upon how someone approaches and makes his own perception about market. It looks to me that you are interested in price patterns and breakout patterns.
  • #6
  • May 17, 2017 4:50am May 17, 2017 4:50am
My Opinion about GBPCHF
Its just my opinion, market can just defy any logic,any times regardless of the quality. so to me the only surviving option is to place SL and let it be hit once placed.
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  • #7
  • May 17, 2017 11:06am May 17, 2017 11:06am
This to my opinion seems Short trade as EU seems banging against the down trend line, i will wait and see and then will take only short trade if feasible in the next day to come
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  • #8
  • May 19, 2017 2:17am May 19, 2017 2:17am
Waiting for trade to setup properly
will take long position
Attached Image (click to enlarge)
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  • #9
  • May 19, 2017 3:20am May 19, 2017 3:20am
considering GBPJPY long position as it seems above the short term trend line and has completed 38 % re tracement of current trend. Just my opinion please
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  • #10
  • Last Post: May 19, 2017 3:23am May 19, 2017 3:23am
Still considering short on EURGBP, looks quite promising due to repeated failures at same levels
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