You are a good price action trader. All you need is what we have been doing from the start of this thread.
The daily chart
Support and resistance
and a 50 line
The money will come with the set ups. And the set ups do come, sometimes many all at once.
You dont need 1000 pips a month to make a lot of money.
It all goes back to patience . Right ?
True, but thereās a limit to how fast you can safely grow your account when trading only a couple set-ups per month. Even if the Kelly Criterion says I could risk 20% of my account per trade with this method, thereās no way I would do that on a five figure account balance. No matter what the statistics say, it just isnāt psychologically sustainable for me.
If we accept that the markets are fractal in nature, then we accept that the market can be exploited on [I]all[/I] time frames if it can be exploited on any single time frame. It is a logical necessity. If you watch price ebb and flow on the M5 chart, you can see a ton of valid rubber bands. But they are inaccessible to us due to spread cost. Even though itās a valid winning trade by the methodology, we have a negative expectancy because the amount of pips we gain doesnāt cover the spread.
If you remove the label and the price/time scales, chances are you wouldnāt be able to tell which time frame you were looking at if one was clicked randomly.
I find it odd that the default delineation is of price as a function of time, especially when we use such an arbitrary scale. Waiting for candles to ācloseā and such. It really shouldnāt have any impact on our decisions as price [B]action[/B] traders. Time must necessarily move forward for a price movement to occur, but it doesnāt make sense to me to express it as a [I]function[/I] of time because the true relationship is trivial at best.
Past my bedtime, rambling now lol. Maybe not. Thereās a good point in there somewhere. Iāll continue thinking about that in the morning.
Any one going in for AUD/JPY?
Will await the flattening of the dma. And a compelling rejection of the 96.10 level.
Its on the watch list.
I am presently short UCAD. It has confluence of the 50 SMA + a pullback to the 61,8% fib (not part of this system though).
Iām already in this one since yesterday morning. Itās just ranging!! Not hit a stop loss or take profit. Doesnāt seem to like 95.70. Iām in from 95.81 with a SL of 96.15
Hope it works out for you.
Iām in USDCAD as well - I think it should continue with the SMA and trend downwards.
However, be aware of any news events that might affect the currencies that you trade. Itās quite easy for news to wipe you any unrealized gains that you might have had prior to the news release.
Its not even ranging, lol. Its crawling. 
Itās not even funny! Iām losing more on swap than price action. Iām looking for an easy close at this point. I should give everybody the signal because everyone knows that when you close the trade, that is when the price goes as you expected and not a minute before Apologies to those in a trade with AUDJPY, it is my fault it is not going lowerā¦
Maybe it will come down with the next news release. Price has not been going above 95.91 for the past 2 days. So Iād hang in there.
Where would we best place our entry point on this one? Bottom of inverted PB 95.572? TP 95.140?
AUDJPY pair.
Hi all,
Does anyone see the PB on the 4H GBPUSD as a good RBT?
Personally I think that this chart is now stale as it no longer is producing a chart for entry with the Rubber Band Trading rules.
On Friday, the 50MA was flat with a doji candle on the 1D TF. I opened Sunday night.
If you look at yesterdayās data, yes there was a reversal candle at close but the 50MA was not quite flat, even though it was almost flat it had slight inclination.
If you look at the 50MA now, it is rising, breaking the Rubber Band Trading rules.
Therefore if you are following a strict rule of Rubber Band Trading as per original post, there is no signal on the AUDJPY to enter a trade yet on this pair.
Hi all,
Anyone fancy the 2BR on the SGDJPY pair, angling down and good RR?
Depends what daily close time your broker uses as the SMA is flat on my chart. Many other reasons for you to hold and I was in the trade not long after you, though nothing to do with the rubber band trade. More due to the AUD and JPY in relation to the USD. You already have a stop set which is quite close (mine is 96.2), use it! You have a very good risk reward ratio and the price is sitting at a trend line resistance.
Have faith! 
Lots of talk about this pair. It is almost ready to sell down to the 50 line. The line is flat and the price is near a resistance area. Just wait for the right entry candle and target the line.
Keep an eye on this pair . Its been in an uptrend for over a year so we will be trading with the trend. 175 pips to the line from the current price. Maybe next week this will be a good trade.
You can see the 2 previous Rubber Band sell trades on this chart. 1 was 13 days ago for 250 pips and the other just 6 days ago for 70 pips.
Keep an eye on the news. There is aud and jpy news tomorrow and gbp news next week
Well, I took the trade (AUD/JPY) at 96.08
There are major market moving news coming along the next two days, the AUD employment and JPY interest rate.
So I think it might be good.
I was losing hope as I saw the AUDJPY rage like a bull this morning.10am hits and it peaked and plummeted! Good news for us bears. Good entry Irfann! I wish I entered a tad higher than my 95.81
