yes, I hope so, but approaching peak holiday season
with low volatility. extreme caution in august
The weekend starts here!
A nice 78 pip winner. It looked to be reversing and I
didn’t want things going wrong over the weekend
so I cashed in just before the market closed for the
weekend
but the market didn’t close, its only Tuesday!
a careless mistake but no harm done
this time
A Synopsis of strategy #1
price bounces off MA50 white arrow
bounces off HTF 20 orange arrow
bounces off MA20 once blue arrow
now seems to be reacting to MA50 again white arrow
No guarantee of anything but the odds are in
favour of price moving down from 50
win or lose, this is basically how the strategy works,
although we wouldn’t go in at every arrow as this
is a trend following system
Stochastic at the bottom of the “bound”… massive resistance zone dating back as far as June 2016…
Trying to breakout?.. Be very surprised if it goes far below here… the only way is up…
I would agree. I’m looking for 28 pips to Breakeven on scout
and x3 position
I may have confused the issue by referring to Strategy #1
as a trend following system when it isn’t really. In other words
the trend isn’t my friend until the end
Maybe it would be more accurate to call it ‘Scalping in the
direction of the trend’.
If the price closes above 50, my strategy is null and void
and I would have to assume your prognosis is correct
However, I wouldn’t go long because neither of my
strategies are giving a Long signal.
On your H1 chart I have a railway track and stochastic signalling
a short signal. However, I don’t trade H1
but 7 more pips and I’m out hopefully
it all stated to look bullish on H1 with pin bar candle pattern
so I got out for - 0.30
Confluence
The cross of Stochastic with ADX exhaustion seems
perfectly confluent = price upward bound whilst
down move exhausted
I really like this. The signal screams out at you.
It might lose but there is no ambiguity here
Are you supposed to quote yourself?
anyway, nothing bearish but everything bullish
PA, price retracing and body resting on fib 50
confluent with stoch and all MAs crossing each
other to the upside
under construction
July first ten days now 1.56
You can’t get excited by daily or weekly results
if you can come out ahead most months you
are doing better than 98% of traders
If I end the month around 2.0 I will be quite pleased
Previously, where I may have recorded a string of winners,
what you don’t see is the many open trades in serious DD
so, it is refreshing, maybe for the first time, and for a
Monday morning, to show a profit mid way through the month,
with no DD on any of the open trades
I upload screenshots in the anticipation it may never happen
again )
I opened a sell trade on EURGBP in expectation of
price going down. I still hold to that, however I could go into
serious DD before that happens
@Jerome32, Where did I mention arrows, I was strictly trading the Stochastic… (See Below)
AUDJPY… 85+ pips in the last 6 days… it just works… nice and simple…
Similar attitude, different indicator. but the arrow can extend indefinitely
whereas stochastic at worst recalculates during the period of the current
bar which is hardly repainting.
There could be some mileage in this
When price is trending, Stochastic confluent with an engulfing pattern.
Seemed to work on H1.
I was short on D1 and got out for a small loss. price never really
went up or down, just consolidation
As you can see on second screenshot, DiNapoli Stochastic
indicated Long but nothing happened
There has to be supporting price action, This is no magic
indicator. Obviously I wish it was
I have no idea of direction now on D1
I think I need the simplest strategy only, I have never
found complexity to be profitable in trading
Hi @Jerome32, As I have showed you in a previous post… your periods are far too tight… you still have uptrends showing in Red… Not sure how you got the Stochastic Indicator to display so erratically…
Your Chart looks like you’re trying to generate a scalping signal… this is a setup for failure…
AUDCAD Daily Chart
DiNapoli Stochastic 6, 3, 2, same settings I showed you here (2 weeks ago) so, no curve fitting here…
Combined with a Colour MA over the Signal Line.
I have also allowed for any lag by moving the change of direction forward 1 day as confirmation.
Similar discussion about using the DiNapoli (MT4) on the D1 with @frandlost on this thread…
I have no affinity to the DiNapoli Indicator … it just works… nice and simple…
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