Right, flat or angled down for shorts.
According to my charts it’s angled up. The 50 SMA is the yellow one. Ignore the others, that’s something else I’ve got in the works. 
By all means take it if you want… Don’t let me discourage you from taking the trade. I was just voicing my opinion on the matter. I’m certainly not an expert on the Rubber Band Method!
I agree with jadd. I ended up not entering any of the Chf pairs cause they all were angled up. Best one now in my opinion is cad/jpy even though it’s only about 50 pips away from sma
[QUOTE=“jadd806;628556”] Right, flat or angled down for shorts. According to my charts it’s angled up. The 50 SMA is the yellow one. Ignore the others, that’s something else I’ve got in the works. 
<img src=“301 Moved Permanently”/> By all means take it if you want… Don’t let me discourage you from taking the trade. I was just voicing my opinion on the matter. I’m certainly not an expert on the Rubber Band Method![/QUOTE]
Gotcha … I respect your opinion.
I am surprised your charts show angle up and mine (fxcm) show down.
I took the trade
A 50 sma angled in the direction of your trade is always the best Rubber Band Trade. They are not as abundant as the 50 sma being just flat.
We can find probably 2 a week that are flat. And maybe 1 or 2 a month that have an angle in the direction of your trade.
The recent GBPNZD sell is the best example of a really strong Rubber Band Trade. It was actually 2 Rubber Band Trades for a total over 300 pips.
When you find any pair that looks like this … Trade it.
My experiment entering a trade on the 1 hour as I explained higher up on this page on the gbpchf did not go as planned.
I am still in the trade , down 32 pips. It is still a good range trade I think. So I need to stick with this mistake. The sma was not even flat.
See what happens when you fool around …haha
rjmah319
Explain to me, the 50 sma angled in the direction of your trade.
In this case, the NZD/CAD is a good trade, NZD/JPY also?
So, you recommend flat or angled in the direction of your trade. How you decide when to enter the trade?
The chart above of the gbpnzd . You can see the price is above the 50 line and the 50 line is angled down, thats a good trade.
Use price action, a pin bar or whatever you think is best to enter the trades. I try to use price action at support or resistance on the daily chart. You can use whatever you think is best for you.
You can find the trades on the daily chart and enter on a smaller time frame if you wish.
According to Mr. Burns video it is advisable to include an oscillator as stochastic to confirm entries. Do you use it, and if so, what setup is recommended?
Thanks for your support
What do you guys think of nzdcad. Any tips?
The MA is in the right direction but support looks to be at .935. So it may push lower and do a false break of the support before heading higher. I’ve got it on my watch list but I’ve gotta see some convincing price action before I enter.
I try to use price action at support or resistance to enter trades. Sometimes I check an indicator , sometimes a trend line break on a smaller time frame. The ways of entering a rubber band trade are many. Use what you think is best. But price action at support or resistance seems to be the best way.
I agree with jadd, it looks good , here is my nzdcad daily chart. Unless fridays candle made a higher low and it is going to head toward the line, it may go lower.
If you do enter just after the open today you need to place a stop below .9326 the low of the candle on 5/9 about 50 pips or so.
Make sure your chart is on the “bid” side.
Unfortunately, I came home a few hours after seeing this and then by the time I was back it had went up 30 pips so I stayed out of it especially with all the news for the loonie coming out this week. I just checked my charts and so far nothing seems to be ready for a trade 
Yeah gotta be patient. It seems like there is 0-2 set-ups per week with this method. But it’s better to wait for the good ones than take mediocre trades.
You can look for set-ups on smaller time frames, too. I had a successful Rubber Band on the EUR/USD 5M chart today.
In other news, I’m switching from FXCM to FinFX. I’ve been doing a lot of scalping lately and FXCM’s spreads are killing me. FinFX has less than half the transaction costs.
How many trades have you had in the 5M chart? And what was your success rate? Are you using the same 50 SMA or is it a different period?
I see three setups that look good right now. GBP/AUD, GBP/NZD, AUD/JPY. All of them are ready, but GBP and JPY news tomorrow. Will wait to see how those affect the charts.
Gbp/nzd - big rubber band trade or a breakout to the upside already under way?
Looks good, but don’t you wait for that PA to actually happen at the key s/r areas, highlighted here on my chart?
