JL Method in honor of ForexPhantom

Jay, will you take a look at EURCAD? I believe that price is reacting to a weekly trendline now. You may wanna watch that pair for next week?

Regards,
Kelvin.

Indeed there is a weekly trendline there! Very good job! Price has broken below the trendline on my chart though on the weekly chart ( it could be different for you depending on what timezone you use for your candlesticks ). So i would wait for price to close above the trendline ( if it did close below for you too on this week ) on the daily chart, then i would look for entries. But well done spotting the trendline, it is a good pair to keep a eye on for the week ahead, it will be on my radar!

Problem how whether stock, markets the market. And help market real economic involves the new stock, forex has things?

I’m sorry Adamcs, I don’t quite understand the question?

Yes it close below for me too. Are you looking to long or short if that is the case? Because it seems like the MAs are gonna crossover to the long side

I will look to long only once price closes above the trendline on the daily. Then I’ll look to long on the MA cross. A short looks riskey at this point in the game.

hi all , i have read both forex phantom and sniper threads , tried this amazing strategy 2 weeks and the results are great , may i join here :smiley:

Absolutely 10pips! Happy to have you with us! Welcome to the thread! How is it going thus far?

thanks jayboii , nice monday for me ,i hold some positions from friday to this monday ,monday is alway a busy day for me, so i set a short T/P because i can’t watch charts during my day job time , and here is the result :slight_smile:


Very good 10pips! Are you using it by just the crossover, or how are you going about it? You’re off to a great start!

Thanks jayboii478 :slight_smile:
Here is my workflow
First , i will zoom out to see a clear picture about the trend , then identify S/R , draw some trendlines if ineed , so the idea is "believe the trend if its trending until it touch the next S/R " . about the S/L and T/P, IMO , there is no strict rule about S/L and T/P , it will depend on S/R and the swing points . See my example below
just my opinion , share your ideas and help me improve the strategy , hope we will have each other to build the best strategy :slight_smile:
1st pic : a clear picture about the trend
2nd pic : after that , i will find a short term S/R , why ? , because if it can break out the short term S/R , it will go ahead to the next S/R , if not , close your position and take the profit :smiley: . On this trade , it cant break the short term S/R so i close the trade and got 45 pips :smiley: , 3 red lines are entry, S/L and T/P
how about your trades jayboii478



Well done 10pips! I use a similar strategy, I use S/R level on daily/weekly chart, trendline on daily/weekly chart and FIBONACCI. I look for a area on the trendline that intersects with major S/R and 50-61.8% FIBO level. Then once price enters this area I look to enter the trade on the crossover. My SL is dynamic as of now, usually go for levels below the next FIBO mark. My TP is dynamic I usually use recent highs.

My advice is be carful of ranging pairs, If a price is hitting the same lows and highs for over a month without making higher highs or lower lows, its stuck in a range is how I play it. If it is making higher highs or lower lows, it’s in a trend. You can get a trendline to fit on ranging pairs, but usually its less accurate.

This is the EURAUD notice, it is hitting the same highs and lows for over a month and just moving sideways, its in a range right now i’d now.


This is the USDCAD, see how it is making higher highs consistently, besides the past week, it is in a uptrend.


Happy to help!
Feel free to ask many more questions!

Happy trading

Jason

Hi 10pips

welcome and certainly. the more the better.

love it when you guys speak foreign.

joking, looks really good. guess if you want to be more accurate you have to put in the time folks.

Foreign… you mean foreign forex?? Haha! If you have any questions, we will answer!! :stuck_out_tongue:

Hello people! Any pairs u guys are watching this week?

For me, GBPJPY is heading towards a S/R area and I’m looking to short from there at the moment.

I also entered AUDNZD long but it seems like its on a short term bearish movement. Well, I will just let the trade play out for now.

Lastly, welcome to the thread 10pips!

I haven’t seen to to much this week, it’s a lot of bank rate announcements and other important factors this week. Also some pairs are looking like they may be starting new trends, they are making lower lows and breaking out of major S/R levels. But the GBPJPY does look good for a short I do agree!

Jason :43:

Does anyone else see a potential up movement in GBP/USD ?

I see a short term short entry once price touches a key S/R zone around 1.5331.

Got stopped out on my AUDNZD trade. Life goes on…