Thanks for the advice I already downloaded the app of FxPro.
But I’m not so lucky with the time zones and my office time , in my zone the US market open at 6:00 AM and when I’m out of the office Sydney is open but there is not a lot of movement at that time.
I will use my mobile and set up alarms just to spot when a crossover may be imminent.
You can, of course, watch the 4H 200 MA on a 4H chart, but if you are primarily watching the 1H chart you can place a proxy 4H MA by using a 1H 800 period MA. It is not the same as it updates hourly but is close enough to “remind” when price draws near to it.
But some platforms also have a parameter alowing you to select the TF. This means you can select a 200 SMA on a 1H chart with the 4H TF ticked (or any other TF). This then draws the 4H line superimposed onto the 1H chart. It will only “officially” update once every 4 hours but in the interim will project ahead hourly.
Either method is close enough for trading purposes since the 200 SMA highlights an area rather than a specific value.
Hellooooo! Happy Tuesday guys! I hope you all had awesome weekends!
Anyway, I was watching my indicators since this afternoon and I’m currently long for GBPUSD @ 1.31426. Right now, I’m still 15 pips up so I’m hoping for the best! Haha.
I took more or less the same long GBPUSD as you this morning and another long position on CADJPY. Both have produced fine and I’ve closed both out now simply because it is month end and I like to finish a month on a positive note
I hope you all had a satisfactory July. Mine was somewhat mediocre, but then it has been a holiday month and I’ve been more interested in collecting blue berries and red currents rather than green pips!
Glad to have caught this! I almost missed it if it weren’t for the notifications. Haha. Thanks for that tip again Manxx! I might close my positions before I go to bed tonight just so that I could also start August with a fresh start. Haha.
My July was pretty interesting since it’s this month that I started this journey with the HLHB system. It’s certainly better than what I used to do lol I hope we all have a PIPful and productive August!
Hi guys
to filter out bad signals it would be beneficial if we take signals in the direction of the previous move. if price is moving upward, wait to retrace then take the new signal
any comment ?
Hmmm. I’m not really sure tbh. Huhu. I just really go with what the indicators are saying. I’m not yet very well versed with any deviation from the system. Huhu. Let’s see what the others think!
Don’t forget that we have US Fed interest rate decision today and UK Bof E interest rate decision tomorrow - might be rather erratic/meaningless moves until then…
Ohhh! Thanks for looking out for me @anon46773462! I’ll just closely monitor my charts tomorrow then. I’m waiting for my EU trade to close. I’m kinda tempted to close it myself while I still have some green pips.
In principle, this is a good practice in any method. Even if the trade goes wrong it means you were in at a better level. If one trades with pre-set targets and stops,then this also brings the target nearer and the SL further away for the same pip amount.
The only risk is when the market does not actually pull back at all before taking off…
This is also a very good practice whenever the signal comes with a single large candle move - very often the price will retrace by around 50% over the next few candles before resuming the move (if it does…)
Yeah. I guess that makes sense. I remember Manxx also said that there are events happening today that might produce erratic moves, so better just wait it out I guess. Thanks for the tip!
Hi guuuuys! I don’t have any open positions today but I’d just like to share how my charts look at the moment.
For GBP, I probably would’ve opened a short position upon seeing the RSI go below 50. But, it’s good that I’ve been warned about the likelihood of erratic moves. Better safe than sorry.
This is a good lesson learned: Not forget to set up the correct stop loss.
All the indicators of the HLHB were pointing to go short in GBPUSD and with combination of (BoE) I was pretty sure that this was the correct decision.
But my stop loss was too tight therefore I was out of the trade when a candlestick goes some pips up but the HLHB system was correct. I lost a plenty of green pips
I think the last day was a good opportunity to go short in GBPUSD due to some fundamentals like the interest rates (FED & BoE) and HLHB system indicators are showing that is time to go short at least in the short trend.
Aww! Thanks for sharing this @Alberto.GP! This is really a learning opportunity. Sometimes, I also find myself setting really tight stops because I’m afraid to lose so much, especially while I’m asleep. I guess we just need to be more strategic about it or just really go with the ones dictated by the system.
Hmmm. My experience with the system is that it’s not super good with short trends yet (at least for the TP at 100 pips). If you don’t mind, how many pips do you usually go for to secure a winning trade on short trends? Thank youuuu!