SanMiguel
Doesn’t seem in any hurry to break that upper channel line does it.
I think I sold when the 3LWMA was still intwined with the 9LWMA but looked like it was going down again.
SanMiguel
Maybe we could try the brealout boys strat and place a trade above current high and just below whats now suppport? :D:D:D
went long at 1.65438 when I got up. But by now, I don’t know if that’s the right thing to do or not.
hmm… and I’m a Master Contributor… you would think I would know what I’m doing by now hahaha
Explain your thinking behind that and then we’ll see…
it’s been in an uptrend since about 3am GMT, all the red MAs were pointed up, the green MA was above the reds. I exited though because price seems to be turning horizontal and just touching the center bollinger.
I need to live in a timezone where London open is around 6 or 7pm local time. What would that be… Hawaii maybe?
It really depends on how many pips you were going for. If going for a scalp, then that was probably fine off the 5min charts but your quote above is the exact reason I wouldn’t have expected many pips.
You want to get in at the beginning of the trend or the beginning of the counter trend not the end of it. Alternatively, buy the dips - retraces to the red lines and a candle pattern.
I have a 15min chart below. 2 black circles good points to buy, green area where you bought. See how the MACD is showing the slowing of the trend and converging of the MAs.
Alternatively, you could have waited for the candles to return to the 9 or 14 MA and buy there as it might have found support on those lines. Also, on the 1hr chart, do you see the downtrendline? Makes a long risky, unless going for a scalp.
Also, you bought when price was right in the outer section of the top half of the bollinger (overbought area). Need to buy on support in the middle or go the opposing way from the outer edges.
Anyway, that’s my thinking - obviously it’s easy to say with hindsight and what do I know, I’m down 11 pips so far
It’s got to either break the trendline (resistance) or break the support line soon.
TALOND
For what its worth, I think were just into a down on the 1h. %m and 15 mas are nicely over the top. Har and how long? I’m up so far 6 pips on a short.
Sorry, meant 5m and 15m ma’s are down. Must learn to type! 
I think if it goes past the earlier bounce today (1.6500ish) I hold on but otherwise I’m getting out in that region. Anyway, at breakeven now so will see what develops.
R Carter
Do you exit on the higher timeframe MA?
For example, timed entry on the 5min chart but exit according to MAs on the 15min or 1hr to avoid all the noise…or is it a bit of a mixture of everything?
I know many usually set their targets according to the higher timeframe.
Doesn’t look like it wants to go below 1.6500
Edit: broken 1.6500 now
Stopped out for +20, which is a little early I think, pity as I was just about to move my stop a few pips higher around the middle of the band on the 5min chart. Anyway, I’m not getting back in now unless we have a little retrace to the 5min bollinger band.
SanMiguel
Sorry, was away doing something else!
I guess a combination of all three charts. I look at where price is at on the 5m for a small trade, 15 for slightly more and 1h for a 50 pip plus trade. Entered on the 5m and stayed in so far. Looks good for even a bottom boliinger on the 1h? Up 30 plus so far.
Oh well… I can dream can’t I? Still got a solid 40 pips before the bulls went on a stampede!!!
Short again from the trendlinea and 5min bollinger bounce. There is a 1hr up trendline on the chart as well - has to break out of one of those eventually.
Does cas trade the Asian session? Lately GU has been moving about as much as GBPJPY - lot more volatile.
hi,
am new here but have been following this thread for quite a while, i am using the bollinger bands, macd ,rsi and waddah for a while. I really enjoy learning from this thread as u discuss on the entry and exit, which i found still lacking in me …
keep it up guys …
regards,
mike
Welcome - hope you enjoy it.
Anyone else trade that wonderful move down? That was a beautiful thing.
Of course, I just turned the platform on for the first time today and saw what I just missed. I am doing my patented in-too-late “let’s see what I can get” strategy. Everything looks pointed down, so I’m hoping it will walk the lower Bollinger down a bit more to get me some 10 pips or so.
…
sell high, buy low.
buy low, sell high.
be careful selling after that big a down move or be prepared to get your SL in the right place
I reckon you will get a retrace after a move of that many pips.
Fingers crossed for you