Entered short trade EURUSD 1.3275 on the Daily TF. Lets see what happens
on daily EURUSD timing didnāt even break 4 level, that entry was not confirmed, be aware of this
Can i ask what is your SL?
Monthly pivot MS1 (10274)
Do you change your TP if blue line moves?
yes !
Unfortunately my EURAUD stopped out, but long on AUDUSD with the rest of us
AUDUSD H4: Deeply āoversoldā on timing indicator, bounce off weekly pivot S1, hammer candlestick - PERFECT setup
Came with a couple pips of my S/L for me, juuusstt made it through.
Iām also long on NZDUSD, handsome setup on H4
Made 20pips, I see what you mean as stated in the first post it needs to be ābetweenā the 2 lines (Green / Red) to indicate a clear signal. And also with the rest of the indicators for confirmation
Same here, but I was wondering, how do you guys feel above these strongly correlated trades? From what Iāve learned the ācleverā guys always say not to enter trades like thisā¦
Either way, I didnāt listen and am long NZDUSD as well haha!
Congrats man! Your stop was placed better than mine
From what I have learnt with currencies that are strongly correlated you can make double the trades and profit but also double the lossesā¦more or lessā¦so it is almost like doubling the lots on a single currency correlation. But the flip side to this is even though they are correlated they might not always both have a trade at the same time or only one might have a solid trade.
Pfft you flatter me, it was just luck haha. Iām pretty new at this but Iām hoping to learn.
What you say is right, but many times correlated pairs dont mvoe with the same amount of pips, so in order to maximize profit, i traded both of the pairs, isntead of doubling the lots on one.
generalizing the concept: When to take advantage of correlated pairs? When the correlation fails
Althoguht this is not the thread to discuss about it, for anythign about it PM/skype me
Have a good one
Only a brief example of this correlation fail thingy, regarding what we are seeing right now on the traded pairs (AUDUSD - NZDUSD)
I highlighted what is going to happen and an second example of what already happened, to make it more clear and remarkable
Hope it helps!
itās all about divergences guys haha !
Called it like a pro, thanks! On H4 you can see clear as day divergence on Stochastics as well on both pairs, Iāll train myself to keep an eye out for it.
The trades have started moving, Iām getting popcorn and enjoying the show.
this system seems to be a good one. Iāve tried it today on aud/usd. Just right on its falling. I just wonder, did I miss smth or is there an EA using this system?
No EA iām sorry