Ok to answer you questions:
I pretty much only take trades that are going with the trend unless it’s a pullback trade and I know I can make at least 2:1 reward to risk.
Yes, price gernerally retraces back to Kijun-sen because when price is at Kijun-sen it is considered “equilibrium” and when price is far away it is “inequilibrium”…so yes, you could definitely wait for a Kijun-sen pullback after the crossover happens. It rearely hits my sl on pullbacks seeing as I havent yet moved my stop to breakeven.
The alert on the QQE is optional. if it sounds, I would still check to see if the crossover has happened AND price is above tenkan-sen/kijun-sen (in an upward crossover) or below both lines (in a downward crossover).
To exit there are a few different ways:
-trailing sl
-crossover in the opposite direction
-profit target of your choice (daily s/r, 100 pips, cross in opposite direction)
the Daily s/r levels usually are relevant the duration of the trade. If the round number isn’t solid there are 2 other ways to exit. The idea is to learn to trust your judgment and let the trade run to your target is hit…or trail, etc.
Thank you for all of your questions. They were VERY good questions and I appreciate you taking the time to do so!!
thanks for the answers digitalgypsy
so when I check the QQE crossover, what if the blue line is like on the 50 line or really close. do I have to wait for the blue line to make a substantial cross?
Thanks for taking the time to help a newbie
Well, normally I would enter when the QQE is about 50.5-51 unless the recently closed candle was a strong candle which in that case I would just enter even if it was just 50. I won’t enter long if it’s below 50 though…and won’t enter short if it’s above 50.
And you’re welcome. We all need help at some point so if I’m able to then I definitely will!
Actually I made a trade yesterday on the USDCAD although it wasn’t with the daily trend, but the daily looked like a retrace was due so I took the trade
Sounds good. Friday’s I try not to trade. I usually give back all my gains that day so I dont usually trade it. Monday’s, yes but maybe with a smaller profit target.
I dont like to hold trades over the weekends because anything can happen. I always think of the worst case scenario. FOr example if Im long the Aussie and over the weekend and something really bad happens in China then that would be a HUGE gap open against me lol. Probably wouldnt happen, but if it did I wouldnt want a big dent in my account
