Trying to find my way

[Airborne]

#7 We took a short off the 1h chart @ 1.9871 with R1 37 pips away. Should this trade work we will evaluate tgt, but for right now we are looking for a R1

[dobro]

Originally Posted by didjerdu

Hi Airborne,

Between you and me (and tens of hundreds of others) I don't care for the Cowabunga system. Not against him or his method; I don't care for the time he trades. He frequently misses MANY good and substantial trades. I've been following for many months now. And I'm sure he makes some money..I don't know where he lives. Perhaps that is his only timeframe or window to trade.
I've been using the PSAR/Bollinger system casually called IcyCloud. It uses longer time frames, keeps you unglued from the computer and takes some of the guesswork out of trading. I've been successfull so far. Have a look at the thread.
Good luck. Looking forward to your progress.
S.

I agree regarding IcyCloud's strategy, it's getting me back into the black. d

[Airborne]

#7 got stopped in overnight trading. I had the general direction right but stop might have been to tight.

#1 +30 R 1.25
#2 -35 R- 1
#3 +118 R+1
#4 +8 R+.02
#5 +10 R +1
#6 +20 R+1 and +20 R+1
#7 -37 R-1

[Airborne]

Third observation as per the OsMa. Notice what happens when price moves to extreme levels. Once the OsMa bars begin to decrease look what normally happens after about the 3rd bar. This also is in agreement with overbot/oversold conditions as per sto's.

[Airborne]

Here is a 15m chart for example

[Airborne]

#8 was a 15 min signal with 20 pip risk for 20 pip gain or R1




#1 +30 R 1.25
#2 -35 R- 1
#3 +118 R+1
#4 +8 R+.02
#5 +10 R +1
#6 +20 R+1 and +20 R+1
#7 -37 R-1
#8 +10 R+.5

[Airborne]

When I see a fractured set up across the time frames. I do not stick around long when taking a trade of the 15m.

[Airborne]

Well I just don't see anything here to trade. To much chop. Anyway we managed to land in the black this week. I will study the charts over the weekend and look for new plays next week.

[Airborne]

Longer term perspective on the gbp/usd

Well things are starting to show improvement from a weekly time frame perspective. Notice the ASI has climbed over last high. Price currently needs to confirm and break resistance here. The STO is trying to turn the corner from oversold. The ema’s are not in proper order yet but they seem to be trying to turn up.


The Daily:

This one is tricky and in fact I think currently it is in a wait and see mode. We have a few possibilities here as I see it. First we have the looks of a triple bottom. Then we also might have a double top. STO is in overbot condition and Price has not yet confirmed ASI move above resistance. We also do not yet have a higher low in place yet to confirm or deny current bullish move. I have not a clue where this goes from here and so I put the daily in caution mode to both the long and short side.

[Airborne]

Well having looked closely over my charts I think going into next week I will mainly focus on the 4h and daily time frames. This will mean less trades will take place. If prices break out to the upside I will hope to get involved on a possible new uptrend. The lower time frames have been choppy as of late suggesting I should change gears.