Long term trend is bullish, we had a back test, but now it’s again a bullish trend channel.The price is stopped by the lover site from the channel together with SMA200. We can try a long position here with SL 0.8525. Target is 0.9050. I did not opened this position, because it’s friday, and Angela Merkel and Nicholas Sharkozy didn’t agree in the fixed euro exchange rate.
We’re on the end this back test by Fibo50 level. On the daily chart is a beautifull head and shoulders format. I’m gonna wait
for falling the SMA200 after that we can try a short position. Best place for SL is Fibo50 level,courageous peoples can try
top of right shoulder+15pips.Target 0.7825
we’re now in a back test, allready over the SMA200 line.If this
strong consistency level by 0,8000 falls, we open long trades
at Fibo61,8 level. I think Fibo61,8 and SMA100 is gonna be
on the same price, and they can stop the price.SL: 0.7840,
TP: Fibo61,8, size: halved position!
Hy everyone.
I will open a long position just like on the picture. That’s only a safety thing about the early openings.if a candle is closed over a level, a wait for the next candle to get the highest or lovest price of this “trigger candle” and there i’m opening my position.
We’ve a narrow channel between Fibo38.2 and Fibo61.8. If these lines falls we can open orders.If the trade is gonna be long
the target is Fibo61.8, if short Fibo0.
If You missed the entry for AUDUSD by the resistance level by 1.0375, we have the wave now. RSI 14 shows for us on the
2 hour chart a divergence. So, we can place long orders full size. SL:1.0270, TP: 1.0780
Hi, can I ask what your Entry was for your original AUD trade? You mentioned a TP of 1.0750 with a Stop of 1.0090. If your Entry was around the 1.0375 mark (which I think it was from your original chart, but do tell me if I am wrong there!) that is around a 1:1 trade. If so, do you often take that sort of R:R for such large moves? I am finding that sort of ratio less effective, recently - I took this same trade off the same move, but with a slightly tighter Stop so I could get out earlier still with a decent profit. Just interested to know whether I am reading your approach correctly.
Interesting thread - good to see someone else monitoring a lot of Pairs! (I scan 22 Pairs a week).
Here is a picture about my entry in AUDUSD.
My entry was a simple P2 signal with 4 touches.This means the resistance level by 1.0370 falled.I was a little bit late and i opened my long trade by 1.0441. My TP was 1.0760 and my SL is 1.0276 by Fibo61.8 level (together with SMA100).
Risk is: 165 pips
Reward: 319 pips
That’s about 2/1 RR. But sometimes, if the trade is really good and the signal is nice and strong, the chart is clear, i open
trades with 1,5/1 RR.
If you’ve more questions, just tell me!
I think if somebody can monitor only 3-5 pairs, they better can stop with trading. You’ve to know monitoring more charts. You just do your TA every day, draw the resistance and support levels, mark the possible orders, and after that you just have to check the charts in 2 x your time frame. i mean, i’m trading in H4, i check my charts every 4-8 hours. If you trade in 30M you have to check you charts every hour.
Which trading platform you use?
I close my week like this with opened trades. So i don’t close the trades only move the SL closer to the price, and i hope that sunday 0:00 we don’t have a big gap and the price keep going to the good way
Is this thread still active - I notice that Forexclubusa has been banned, do you know why? Your charts appear similar, so will you take up the baton and continue the thread as originally envisaged, with the same trading style? I was interested to follow (although I don’t know what Forexclubusa did to incur the wrath of the mods).