Just as a follow up at end of session… it could end up as an inside bar signal to sell :
Trend is down, S/R level & a bounce off 50EMA, comments please
wafik
very nice looking to be a nice trade setup indeed
I am so sorry for the repetition of 3 of the same chart, it just went by mistake… sorry
Wafik
EUR/AUD is not looking good. What do you guys think about this USD/CHF IB setup?
Another one. This time NZD/JPY
I also like the EUR/GBP some one mentioned a few posts ago.
Its a tempting set-up in some ways BUT the EUR although hesitating does still looks strong…having said that it is nestled just under the 50sma and at the top of the downward channel…but l’m still going to wait for the next candle; plus l’m in the AUDJPY long trade l posted yesterday.
Hi DnB,
I took this trade EURNZD 4H, inside bar signal to sell as indicated on chart based on the followings:
- Trend is down
- S/R level, bouncing off 50EMA, and retrenchment off fibo 50% level
I went for R/R 1:2 with trailing stop (of same pips risked), it turned out a breakeven.
I would like to know please what are other weaknesses or misjudgment, that I was not aware of, which could have led to this result in this trade. Thanks.
Wafik
oh, all looking in daily frame ,current trade eur/aud shorted yesterday.
eur/jpy look good and good news is euro weaken with all.
Hi Wafik,
The daily EURGBP set-up you flagged up is looking good.
The rest of your charts seem to be 4hr charts and unless l am wrong the focus of this thread is mainly set-ups on Daily charts so l am not sure if you’ll get many comments as many of us view the 4hr as far less reliable than daily charts.
Please correct me if l am wrong Dnb.
Just my thoughts that its nice to have a daily charts threads as most forums seem to focus on intra-day trading and l personally like the more laid back approach of this thread.
Comments welcome.
Did anyone get in on the gold trade today? I think there was a nice bullish reversal bar setup there, any comments welcome.
Hey guys,
wafikjabra I don’t trade Inside bars on the 4 hour chart nor do I use the 50 ema. So I can’t comment on your trade sorry.
The EURGBP setup you posted was nice. The only trade I’ve take is AUDNZD long after that bullish outside bar. I am looking at EURNZD to short it, not sure though have to see if the lows get broken.
DnB,
Thanks for this thread. There is a lot of PA threads lately in the forum, but not much on the daily TF.
Most traders don’t have the patience for the Daily TF, they want to sit at their computer screens and be filled with adrenaline trading from 15 min price movements lol.
I just took a momentum candle short trade on the EURCAD. Remember the momentum candle idea of mine I spoke about. Lets see how it turns out.
it seems it’s broking, i’m in…
Usually i’ll wait for a minimun 1h bar close to confirm, but what the heck, i’m in also…