I sold at 1.6029 tonight, going well so far. We’ll see what happens…
dang that’s a lot of pips, my best so far, maybe I should quit while I’m ahead?
[B]RED EAR[/B]
Absolutely no idea about other currencies? I [B]only[/B] trade GU. I dont know how some guys on other threads can keep an eye on 20 plus charts and all related news etc. 
Why not give it a go in demo on a few others?
Night all. 
Well, whadda you know, almost all the way to 1.59.
I’m glad you got some pips…during the Asian session…ahem 
I would have been worried about selling into possible support in that area but I guess it bounced nicely off the 1hr MAs and it was the 3rd test of that area.
Looks to be a bit slow this morning after all that mayhem.
Tricky decisions today:
- last Friday of month so profit taking could occur
- PA looks to have bounced off that old support line round about 1.6030 (now resistance)
- 15min is still in an uptrend.
- 1hr MAs point upwards
I think most are getting the hang of Bollingers and ma. But I would like to share another tactic that can be added to increase the chances of getting more!
I use average price line for this but candles work just as well but can lead to you second guessing your judgement. This system combines the use of all three charts. The 5m, 15m and 1h.
Bollingers set to the usual 2 std dev 20 period on all three charts. Broadly speaking a boll band can be devided into two distinct areas. Upper centre line is Bull, lower center line is Bear.
Taking the 1h chart first. If PA is in the upper section of the bollinger then longer term sentiment is Bullish. Looking next to the 15m chart. Exactly the same again, if PA is in the upper section, medium term sentiment is Bull’ish.
Now how to trade the 5m chart for a quick 10 - 30 pips with a high probability trade. Wait until PA is in the lower section of the bollinger. When PA crosses the center line place a trade in this case long and take at the upper bollinger line. If trade falls back before upper bollinger band either wait for upper bollinger band or exit at BE on or around the center line of the bollinger. Wait till next set up and have another go.
This is a very high probability trade.
And stop loss at the bottom of the bollinger in this case?
So, you are essentially going with the trend of 1hr and 15min and trading it on the 5.
Any dangerous points to stay out of, say when the 1hr has just crossed the centre bollinger like now?
[B]SanMiguel[/B]
This is of course a variation on our boll bouncing strat. Except that instead of only using boll bouncing when PA is ranging within a flat bollinger we can use this effectively when PA is moving in one direction or trending.
I’ve seen a lot of posts where people have missed the longer term trade ‘boat’ for various reasons. Or you can use it on top of the longer term trade. As its a strat that goes hand in hand with the longer term trade direction.
Yes at present your right, were just at the cross on the 1h chart. A 50/50 risk at present.
Stop loss. I tend to favour a 10 SL TP20 or an even split of 15 SL TP 15.
Do you think a short is setting up at present?
Resistance line on the 1hr and although MAs were moving up, they look to be rounding over now.
A proper retrace after that move might head to around 1.61 again.
[B]SanMiguel[/B]
I honestly can’t call it? Its a Friday right. 
The 1h looks flat to just marginally down. 15m is upwards and 5m is either coming over or flat.
[B]SanMiguel[/B]
I know the 4h boys are in a holding pattern. Holding already open trades and not entering new ones. 4h suggests a likely break to the North but when?
Well I went for it and sold at 1.6005 based on another 15min MA crossover down. Closed half at +40 (effectively a guaranteed 20 pips) and I’m just gonna let the other half run until any MAs start giving the impression of price slowing down. That will probably be me done for the day.
[B]SanMiguel[/B]
Good call! Took my eye off the ball on that one.
[B]SanMiguel[/B]
Just switched back to my mixed ma’s and all became clear!
Current settings now on 15m, 1h and 4h are 3/6/9 LWMA (all one colour) and SMA 7/21 (same colour).
Won’t miss another trade.
yep, good trade. Me, I’m not trading today, did so well yesterday I don’t want to screw up my high on a Friday lol
have a great weekend everyone
[B]TalonD[/B]
PA broke through and ma touched the center line for a possible cross over and fell off. Back to the drawing board.
are you refering to our 1h idea? I’ve got priceline on that and on my chart it’s so close it’s hard to tell if it touched or actually crossed.
with the candle I can see it actually crossed but my price line I think it connects the close price. so during that candle it would have crossed. Still we would have closed but gotten back in on the cross down again.
[B]TALOND[/B]
Thats what I’m referring too.
Still well get a good cross later or maybe next week.
Well, price retraced to hit my stop so I only got +20 of the many available on that last trade.
[B]RC[/B]
With those 5min crossovers in line with the trend, would you wait for a 5min close of the candle or just trade it as soon as price crosses?
I like that as a way of adding to a position and it seems safer than some of the counter trend trades, which I have so far found need to be entered at ideal points to get the most R:R from them.
[B]Have a good weekend all - hope you got some pips this week :)[/B]
[B]SanMiguel[/B]
I made my pips today on an entry outside the bollinger at that previous low bounce on second candle colour after the wick. It was a counter trade but hey ho it was good for lots of pips this time.
Yes as soon as price crosses the center line.
RCarter, you mentioned your son in an earlier post. just wondering what MAs does he use to get that +20 pips a day? And only trades london open untill NYC open?
Is this Briish summer time still? what GMT time does London open right now?