LONG OR SHORT : LONG EUR\USD H4
Profit Target/s:1ST LEVEL IS 1.2450 AND 2ND IS 1.2500
Risk percentage: 2%
Indicators used:BOLINGER BANDS,RSI,AND STOCHASTIC
Trade Rationale: I AM USING 3 BASIC INDICATORS....NOTHING EXTRA
Trade Adjustments:MOVE STOP LOSS LEVEL ACCORDING TO THE PRICE UPWARD MOVEMENT
hi friend......thank you for your advice........
even i am also thinking the same..
at the time i posted this this is appropriate..... but after the news released...everything has changed........and you know what.....now there is a chance (not sure....because....i am also new trader...) to drop the value up to 1.2150......
any how i am very happy....to meet you.....have a great day........
and can you tell me the moving average which you used?
I use the system I learnt here in babypips called "Cowabunga" or the the amazing crossover involving the use of
1. 5EMA and 10EMA with different colors.
2. Stochastic set at 10,3,3
3. RSI set at 9 with one level at 50.
Sometimes I add MACD set at default ie 12, 26,9.
MACD is excellent in spotting divergence also.
The new one I am using as MA now is strictly DiNapoli. I am still testing it.
Last week I used it and bag some pips. It's called Displaced Moving Average (DMA).
There is nothing special about it.
It's the same as MA but differs by adding a number on the "shift box"
I think from what I learnt It can predict future price when you add a number on the shift dialogue box.
I am trying these set up with it.
The first is for short term, the second for medium and the third for long term trade if price breaks them
The SMA3X3 and 7X5 can server as crossover too.
Your overall settings could be like this H4 EUR/USD Chart:
Please I may adjust this pending order as I am suspecting a long upward Retracement. Try and analyze your
before entering. Crossover is in play except RSI that will give me a clear appetite to hit my button. A break above 7x5
(Blue MA) will also make me go long too.
Secondly, I add Fibonacci levels to know the area of my Entry and Exit.
Again I use trend lines and channels too just like today.
Market has been moving on rising channel within a range.
Please I am not an expert or pro, I am still learning and will try to learn from you too. Forex is so wide and a lot need to be covered.
I am glad to meet you here too.
Last edited by 4xpipsense; 07-09-2012 at 03:21 PM.