Bollinger band trading with MAs

maybe someday when I become one of the big boys like you.

You can have Level II with IG, I believe there are a few other brokers that use it - you’d have to check whether it is the direct market from the exchange or their own system though - I use it for stocks but not for anything FX related.

Any views on EJ and EG for this week?
Does look like the trend is flattening but I have a hunch EJ will move down for a day or two at least next week if the stock markets retrace.

You closing out the shorts on these then at end of day?
Isn;t the lower 2LWMA much lower in both cases?
0.819 and 108.5

Yep will close out at NY close for the weekend.

I’m wondering the same thing SM. Must be one of his many strats :p. Or something simple I’ve just overlooked lol. And I’m pretty sure he’s closing out at the end of the day that’s what he usually does.

EJ is a difficult one because of it’s current link with the stock markets and the stock market is at a critical turning point over the next week or so: either a proper break to the downside or on up we go - you can see the flattening tunnel on the weekly.

Ya I see what you mean SM. Not sure what I’d do, well actually not being sure makes it certain that I simply wouldn’t trade it lol. Linking EJ with the stock market is beyond me, I’m keeping things simple for now:D. I think that ICT guy used the stock market in his trading as well. Either way, goodluck if you’re gonna trade it:p.

EG:

Break this trendline AND the resistance and then we can think about covering the short.


When did you enter your short SM? Looks like if you got the good entry you’re near +900 pips:D

Oh, and what made you decide to enter short?

Nah, not the good entry but an ok one :slight_smile:
If you look on this chart, you’ll see the obvious downtrend, I entered short on the touch of the 50MA and also the trendline (2 reasons), exited 75% at the support line, held on a bit and got out fully around 0.8200.
I’m now looking to reshort, another hit of the 50MA, near trendline, and near resistance (3 reasons) plus the £ is looking quite strong fundamentally at the moment.

I’m sure if you look at the weekly LWMAs roundabout the same time, it might give a similar view of the trend.


Ya that is still a nice entry SM :p. The possible short you’ve pointed out looks good as well.

RC
How often do you find price comes close to the LWMA but doesn’t quite touch then moves away?
If you switch to candles, I can see a number of times where price came within 10 pips or so and then moved off.
Take GU as an example in the recent uptrend:


I am not trading strictly based off the weekly time frame RC but I do look at it to help me pick direction. I am seeing the same thing in terms of likely direction as you . I have a short NZD/USD and AUD/USD in play both are negative and I decided this afternoon to let them ride over the weekend. We’ll see how it goes next week. I am also long on silver that trade is doing well. all of these trades are much smaller size then I usually trade I have not had the time to watch the charts so I have been trading small and letting it ride:D.

Yes I was looking at the weekly TF so there will need to be wriggle room for those trades. I’ll wait until Sunday/ Monday before taking any positions and for me on the weekly a 0.1% bal trade at that. :smiley:

EURCHF - any thoughts?
Tunnel is flattening a bit…

Too early to tell for me but daily TF has two day long bars so could be setting up for a break out long?

When trading you daily 2 lwma hi/lo strat how do you classify a trend? Under what circumstances do you think the trend has ended and begin taking range trandes or counter trend trades?

Thats an easy one to answer. When you have HA candles on the daily the trend up will one colour and down another. Take a look at the daily USD/CAD (up one colour down the other) reverse for NZD/ JPY. Possible trend change occurs when you get one or more candles change colour.

Trades taken with the trend at the oppsing trend hi or low 2 LWMA. If into a successful trade and the daily candle I’m trading changes colour I bail out. :slight_smile:

EDIT: Currently long on CHF/JPY bounce off the oposing LWMA at 83.180 as an example.

I should have seen that coming lol. Very simple RC.