Though it seems to be a good setup. It is bit far from the MA’s and being a weekend and also news on sunday could pump it either ways. just my thought.
Hi Evermore,
I’ve entered AUDUSD trade after breaking the resistance - 1.0000. I long @1.0020 based on high of IB 4hr bar, the trade is still in progress. My potential target is 1.0200 - the last support turns resistance. Stop loss was initially @0.9960 and now moved BE.
Regards,
Toyogo
Yes, I use the 1H chart for reference. As DnB puts it “Daily chart is king”.
I did the same! Are you copying my trades?!!! LOL.
I’m already long NZD/USD which is highly correlated to this pair, but this trade was a no brainer and I know I’ll feel horribly if I let it pass, so I moved my SL to BE on the N/U trade to reduce my risk. Just to figure out what you are doing, why you moved your SL?
Hi Evermore,
DnB has said that most major pairs are in consolidation this week and now is Friday. With such a weak market and weekend, I’ve decided to move my SL to BE (free trade now)!
Indeed, I found that the exit strategy is so much more complicated to learn than entry point!
Regards,
Toyogo
the AUDUSD IB is a lovely trade but I thought that trading IBs on a 4 hour chart wasnt something that dnb did…?
Hi,
I usually follow weekly/daily chart PA from dnb. However for this trade, I see a breakout of 1.000 Resistance on 14Jun(Thu) which is very significant as 1.000 is called parity value. Furthermore on the following day (Fri), the Asia equities including AORD were all up by mid-day Asia timezone. Thus I am more bullish on AUSUSD pair (as compare to EUR, GBP, CHF… pairs). Then I see a 4hr IB, so I decided to jump in!
Regards,
Toyogo
Hey guys, who is excited too see what happens at market open, anybody have any trades open over the weekend?
Just to answer a few posts
I am pretty sure I’ve answered this but I trade all the major currency pairs and their crosses, commodities like gold silver oil & copper, and the major stock indexes like the DOW & S&P
The EURNZD Inside Candle trade that was pointed out is not something that I would of taken. It was in line with the trend which is good, closed in the direction of the trend yeah… that bull candle before it puts me off. This is just me personally giving my take on the setup, I see it did sell off anyway so good work.
As for 4 hour inside bars well what can I say… You will find a lot of h4 inside bars, but which ones are the good ones? I’ve just never seemed to find an edge with the h4 IB’s although I must admit I haven’t given them proper testing or tried to work out a way to trade them better. The h4 and the h1 chart is a whole different battleground, it requires different approaches and tactics. I am happy to just to stick with the daily signals but if you guys work out a nice edge for the h4 I’ll be happy to hear it.
Here is a setup on the EURCAD Daily chart that I’ve been looking at
However due the predicted volatility the markets probably won’t be tradeable… but here it is anyway
You won’t see me use trend lines very much, only when they are displaying significance from the daily charts point of view. See how every time price has reacted with this trend line there has been a sell off. Now we have a bearish rejection candle signaling a sell right off this trend line.
BTW…where is the IB Indicator available pls, l think its a freebie isn’t it? Thanks.
Nice thread too…so many thanks for that too!
Hi DnB,
The EURCAD (indeed most of the major pair) has gaped up and broken the downward trend line during early Asian trading hour. Do you think the EURCAD bearish rejection candle setup will still be valid?
Regards,
Toyogo
Im long N/U, G/A and A/U. Got stopped out on E/J, though.
I hate metatrader. Metatrader should be killed with fire… or shotguns.
Im long N/U, G/A and A/U. Got stopped out on E/J, though.
4 trades ? Damm… Overtrading?
The EURCAD (indeed most of the major pair) has gaped up and broken the downward trend line during early Asian trading hour. Do you think the EURCAD bearish rejection candle setup will still be valid?
The original setup that I talked about is not valid anymore since price gapped over it. But for all those cunning intraday traders, there is a nice bearish rejection candle on the 4 hour. When I look at signals on the 4hour, which isn’t very often at all, I want them to be clearly defined like this.
No at all, N/U and G/A have weeks open. I’ve won 1% only in carry interest!
The GBP/AUD will be earning you negative interest lol.
No, in fact is the one yielding the highest positive interest.
Selling = positive interest
Buying = negative interest