Im also short the eur/usd @1.35934, I will probably exit my position if the rising trendline can not be broken and closed below and if a reversal signal initiates
ok try these:
4hr TF
http://img543.imageshack.us/img543/6263/screenhunter05feb102105.gif
1hr TF
http://img213.imageshack.us/img213/4863/screenhunter04feb102104.gif
Cool, I could see the first chart. I have that TL drawn as well, showing major weakness and openness to much selling at least to 1.3400, being careful of 1.3430-35.
Being careful of 1.6000 on this short. Short @ 1.6102 Stop @ 1.6116, TP @ 1.5660
Uh oh looks like a bullish divergence on the 1hour…I bailed on my position for a small profit at 1.3585
http://img812.imageshack.us/img812/1725/screenhunter06feb102131.gif
eur/usd trade net +8.4 pips…Im going to wait to sell a correction due to the rsi being in the oversold territory and the divergence to clear up
GM raging, just closed my shorts. GU for +45pips with higher low created on the support at TL just above target 2, and closed EU for +67pips at previous demand zone at 1.3528, just above 30M target 3.
http://img143.imageshack.us/img143/6695/imageaj.png
http://img823.imageshack.us/img823/9427/imageqs.png
GBP/USD 30M Short Re-entry Point- Resistance of lower high candle. Support @ 1.5936 to be watched.
Entries @ 1.6052 and 1.6050 Stops @ 1.6073
http://img703.imageshack.us/img703/3811/imageec.png
EUR/USD 30M Re-entry below previous demand zone. Support @ 1.3508, 1.3436
Entry @ 1.3526 Stop @ 1.3548, Early Breakeven
http://img189.imageshack.us/img189/975/imageht.png
Interim Targets on 30M and H1, wave towards bigger DAILY targets (best take profit zones)
gm bank, unfortunately I turned off my alarm clock and didnt get up in time to see the next move down in gbp/usd and eur/usd, however I feel as there has to be a correction into reverting back to $ selling as that has been the theme all week prior. You got in some good trades before the weekend congrats.
I thought of adding a 50day ma to help visualize the trend, if price is above look for longs and vice versa, also good as correction plays to revert back to the mean, i.e. the 50day ma
Hey raging, sometimes the body just needs rest. Yes I am watching some key areas on GU and EU with these shorts. Looking to close out in another hour to two. Not carrying anything over this weekend. Possibly there could be reversal zones looming near. The only MAs I use are the 200 and 68SMA. Post some charts with the 50 over the next week or so and lets see if it improves filtering.
Still holding shorts…raging what timeframe do you use the clouds on?
I like this indicator
I usually trade the 1hr TF however its best used on the 4hr TF and above for stronger signals. I usually look to the 4hr and wait for the 1hr to line up as the 4hr (if price is both above/below the clouds)
The way I trade is if there is a push down and price has for example closed below, I wait for a pullback and sell the correction as normal with our approach to swing trading…
However the ichi has drawbacks, the clouds are formed by past present and future MA’s so they do lag on you. But the pro really is that it will catch a big trend if you allow it to move.
however as of lately I have not been using it because im trying a different style of trading with less indicators (they all lag). Im trying to go naked as much as possible, so to speak, only using a 50MA, rsi for OB/OS conditions, S/R levels and fib levels for my trading. I feel as its a much better approach because clutter on your charts leads to mistakes or getting in late on moves
Thanks raging! I was just observing on the H4 chart. I will need to do a bit of reading. But it seems to be a good guide for major moves when combined. Certainly the correction after breakout is the better lower entry risk. Thanks very much for sharing!
I appreciate that, that is pretty much how I currently trade. This appears interesting though if placed on a bigger time frame like daily or weekly to guide the lower time frame entries. But I have gotten much better results trading just price without indicators.
my friend, check out nial fuller through google and some of his vids on youtube, does his trading look familiar? lol
He’s got some good ideas and a seems to have good credibility through some members on here… check out the thread topic price action trade setups started my trader2000 not a bad thread
Hey raging, I just searched google and saw the vid you referred to. This is a basic pattern, trading swing lows and swing highs. One of the first things I learnt in S & R trading. A little different from how I trade now, even though you will always trade swing highs and lows as an S & R trader. I also just checked out Trader2000. He/She seems to be trading Pin bars. Most price action trading is based on candlestick patterns and s&r.
I agree there are some technical differences, im just a eternal student, I love to learn different approaches and ideas you never know if it sparks a lightbulb lol
Indeed raging!