Your basic technical set up looks very similar to the one advised & recommended by the professional traders who ran the Technical Templates threads on here.
I’ve been using exactly that framework to assist with my entry, trailing stop & exit positioning in tandem with the directional bias of Captain Currencies (Andy Perry) 3 Ducks template & I couldn’t be happier with the approach.
It seems to me that anything which mirrors such a simple, yet effective approach as that will certainly help new traders establish good habits & practices.
Looks great! I would definitely look at this each morning. As mentioned above, would love to know your thoughts on where you feel the market is heading for the day along with major announcements posted on the forecasting chart Thanks and keep up the great work!
Great setup on the Day Open (DO). Hope ya’ll caught that!
As I said, this thread will focus on PAST price action. By looking at the past, we can create trading strategies that can possibly work in the future. We can study how EUR/USD, for instance, reacted to the previous day low after the non-farm payrolls was released. Or perhaps we can take a look whether the Day Open is something we should keep an eye out for.
If you’re interested in predictions or trade setups, then this thread is not for you. You can head on to my main blog, Pippin’ Ain’t Easy, for that!
Great response for the people asking for predictions! I agree that this thread is better served as a way to see current and past price action as a group, instead of showing where to put an entry. Causing each trader to create their own trade ideas, instead of just piggy-backing.
Thanks Big Pippin!
BigPippin: On your weekly values, do you include the Australian/Asia open on Sunday?
On your daily values, what timezone/session do you use for the open/close (or does it not matter)?
