Price blew out the existing highs on USDCHF to make a new high. Will see if an entry unfolds with this new high in place, so still here sitting on my hands.
stopped out of all save NZD/USD.
Hi everyone,
Hope you caught some of those nice short setups. Thought I would share this one on the EUR/USD monthly. Looking like will see strong buying here. Let’s see how market reacts. A close below will give entry for selling continuation.
Hi all, i’m watching the following 4hr charts carefully: AUDCHF, NZDCHF for shorts. EURUSD, GBPUSD for longs. Setups could potentially occur later tonite or early tomorrow.
EURUSD long triggered at 1.2485, GBPUSD long triggered at 1.5620
Its best to trade setups in the direction of the trend until strong confirmation of reversal.
NZD/USD short triggered.
Trades closed: NZD/USD +60pips, EUR/USD +112pips
Bank ur right. I generally trade in the direction of the trend but thought we would have seen buying interest here at these levels. Both were stopped out at -50pips each.
Hey swallow, I am watching the EUR at 1.2400 thereabout, all in all I anticipate reversals but good confirmation structure needed after all this selling.
Hunting for longs in GPDAUD and EURAUD…
Also hunting for shorts in AUDCHF and NZDCHF. Bank, what are your thoughts?
Hey swallow. Sorry about the delay. Wrapped my trading week yesterday and have been offline. Yes the CHF shorts looked good. Sure they are after the fact now. Also looks like your AUD longs triggered already. Good trades. GBP/AUD may continue downwards from current price though. I would like to see what things look like after NFP though, especially that we are at the end of the month.
Currently:
GBPAUD: +55
EURAUD: +85
NZDCHF: +19
AUDCHF: limit sell order was not triggered.
Great trades swallow.
Been a while since we’ve heard from Bank and the other regulars. Would be good if we could resume the sharing of ideas again.
Hello all, have been through this thread a few times and would appreciate it if there is anyone else out there who would like to share ideas using this method of trading. I’m about a year into my trading now and at a good break even sort of stage, found this thread as I had already worked out a system similar to this myself through trial and error. Have tweaked my trading with the extra gems of info here and have started to see an improvement, paper backtesting looks very promising too, so would love to bring this back to life if there’s any interest out there.
I’m up for it T9, would be good to revive the thread. I trade mostly the majors and a few crosses, so i’ll be posting analysis on those.
Thx for the reply ST, be nice to bounce ideas around. With wife, baby, dog and two jobs I only get time to place trades before Asian session on dailies, majors and a few crosses myself. Took me two complete read through’s to get it straight in my head how this method is applied, think I’m there now but bear with me if I make schoolboy errors at this stage. Been a while since this thread started but looks like there is still plenty of validity in the setups, you still getting success with the pivots and fractals?
I have had major success with this method and i have found that it works best at or near key support and resistance levels. I primarily use the 4hr charts and focus on daily and weekly charts for the current trend.