Thank you.
Hi CloudNinee,
Are you still using this startegy? or did you do any tweaking for its improvement please? I didnāt find good signals or maybe, I missed.
Regards,
Of course, this is my daily strategy, but that doesnāt mean I enter into trades every single day. You need to be very disciplined and only trade the good signals to be profitable in the long term.
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I believe that your signals are very subjective and probably only can be read by you, which is a good thing. I think they are mainly candle formations plus the information you gave about understanding what price is doing at the various BB levels.
This leads to me researching Bollinger Bands and have found several Double Bollinger Bands strategies.
Here is a chart of the CHFJY daily that you used to show that run of successful trades; not as many signals with the BB v2 system but I have found it to be an excellent indicator on 1-Hour and 4-Hour charts.
BB v2 is the BB set at 1.0, so rather than some strategy that looks at the crossing of the centerline, or a bounce from outer lines, checks the movement at the 1.0 levels.
Hope that helps somebody
Excellent observation for any trading approach which involves a discretionary element.
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Technically it is a valid trade setup however you need to be very careful here. I have decided to stay out of the GU market for now as I have been stopped out at BE way too often here due to whippy price action.
The closer higher high and higher low indicating exhaustion of the bulls, while higher highs and higher lows are still being created of course we still favour BUY in this market but on the daily timeframe, we need to see more momentum and bigger swings to trade profitably and comfortably.
Why that candle; should be the Pin Bar the day before?
I was waiting for a confirmation candle
I would say that is a doji, so need to wait for following candle for confirmation
What is the confirmation?
Another up candle?
And then you ask random people on a forum?
I think you need a trading plan.
Well, heās not exactly asking random people on a forum, itās called learning from others and supporting each other. Especially when heās trying to learn and apply a strategy learnt FROM HERE.
Okay, each to their own but if you donāt find the joy in helping others and being nothing better than showing terrible attitude and being condescending, Iād suggest for you to leave. If you are already trading better than many of us here, then whatās the point of you being here?
If you are here to help and support, then show it in your writing/action.
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Hi everyone, I have another trading strategy that I wish to share with you all that is based on 3 moving averages (itās not a cross-over strategy, so donāt worry - haha).
It should be up in a few hours so feel free to check it out as well to see if it might be a better fit for your trading. If you find it hard to find entries with this current strategy here with the bollinger bands, the moving averages strategy will be better for you as the rules are simpler.
While itās still nice to know price action, it could be a good place to start even if you are a beginner.
An even better thing is, it will work even if you are a scalper or a swing or a position trader.
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Looking forward to it Cloud, all the best
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Calm your tits.
You asked why I didnāt enter after the pinbar/doji candle and Iāve told you that I was waiting for a confirmation candle, part of my setup/entry rules, so I called this a trading plan.
As for the question, Cloudninee has highlighted the reason Iām asking this here.
@Cloudninee Hey there, I read this whole thread and I find it very interesting. I for one have always been interested in trading from the daily chart alone as it gives you a lot of time freedom. Could you perhaps shoot me a DM on your currency pairs and I do have some more questions regarding the strategy as well? Thanks in advance man.
Being a trader for the last few years, I have tried several strategies. It took me around one year to ensure that the price action strategy works great in accordance with my trading style. I apply it with nearly all my brokers and have never faced any issues.
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been trading this strategy on a demo account for about a month and a half now and so far so good. account is up 9%. Itās been taking VERY LITTLE effort to spot new trades and has been just as easy to manage the open trades. Really hoping it continues this way because this would make trading an absolute dream. Thanks again cloud. hope all is well with yourself.
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That is lovely to hear. Wishing you all the best.
The little effort requirement is what makes the strategy so good because you have so much more freedom. Iād rather do this over watching charts hours on end.