Depending on your time of entry, the 5-Minute-Low might have ben broken and you got stopped out anyway.
Hi,
I dont think you should have entered when the market was ranging, 3 Ducks is most effective in a trending market
I just took Andyâs 3 ducks 1 on 1 course⌠Wow oh wow!! I learned a ton!! I recommend anyone to take this course. Andy made it easy to undertand and kept it simple. I canât wait to start this week off with the advanced 3 ducks! Thanks Andy!
The market wasnât ranging on H1 and H4 at this time. On M5 it was just the normal movement you can often observe at this time on europe and US involved pairs. As long as H1 and H4 are trending, I canât see something wrong with placing a trade at this point. With that, you might catch a nice breakout.
I understand your logic and, yes h4 and h1 show the trend, but the m5 chart posted shows it had been ranging for 10 hours and since we use m5 to pick our entry point that would have put me off.
Ive not taken the course but perhaps someone who has could tell us both if it covers events like this
Get the direction correct: UP or DOWN and youâre halfway there Duck Hunters!
A quick market scan and it looks like our First Duck (H4) would favor:
UP, buying set-ups on:
Usd.Cad
DOWN, selling set-ups on:
Aud.Usd
Eur.Usd
Gbp.Usd
On the side ⌠the value of oil has dropped this week and this ainât too good for Canada - should help the Usd.Cad up-trend go further north. Bulls will be wanting to push price even higher over the coming sessions, that April 2015 high of about 1.2835 must be where Bulls are heading âŚ
Good trading to you all in the coming sessions,
Andy
Captain Currency
Anyone else looking for USDCAD longs this morning?
Keeping in mind that the Bank of Canada will issue its interest rate statement this afternoon.
However, CAD is looking poised for a continuation higher. 3 ducks confirms, with the 4hr and 1hr SMAs aligned for bullish trades. Letâs see if we get some momentum.
I went long yesterday evening
a question for the capân about picking the high or low to place the pending order. here is a picture to explain:
Work you way in from the right, so Iâd say the most recent high.
Got riksy today and I have a pending order on the AUDUSD to go short, even though It is making new lows even on the weekly chart! USDJPY USDCAD EURUSD EURJPY AND AUDUSD are all coming up on monthly support and resistance levels, and making new highs/lows on the weekly charts. Out of those pairs I chose the Aussie.
I will post results tomorrow if trade gets triggered.
Ahoy there Pips Ahoy,
Looks like either level would do the job, donât forget to check out page 7 of the 3 Ducks eBook | Entry.
Andy
Captain Currency
Fundamentally Iâd be thinking the pressure is on the Aussie Dollar.
Technically Iâd be curious Jayboii to see will the recent rally up be met by sellers and if not will it then be up to the 0.7500 area of resistance to kick in and act as a âBear Containerâ.
The next few sessions should be interesting to see if Bearish pressure resumes, hopefully you can bag a few pips!
Andy
Captain Currency
Hey there Captain!
I trade only off of technical side, i get lost with fundamentals! But Iâm curious to see if we can push lower on the aussie and hit the 7300 zone that hasnât been touched in some time. Letâs see what we get.
Looking forward to talking soon Captain Currency
Jason
Really nice Captain?. Your technical really insteresting. How many dollar in each trade you can gain??
another question for the group
i notice in this and some other systems that use htf maâs that the entry chart is exponentially lower in resolution than the higher timeframes. for example:
h4 to h1 is /4 resolution. then h1 to m5 is /12 resolution
whereas if entry chart was m15, then resolution would be /4 between each chart
what is the reason for the drop in resolution between the htfâs and the entry chart? what type of difference would be made if all time frames kept a /4 to /6 resolution instead?
GbpNzd may be one to watch.
This pair had a big drop on Wednesday following the RBNZ rate cut but is currently moving into a âbuyâ on all 3 time frames.
If you do go in, and I will wait for it to break 2.3600, this pair moves a lot so I will have a very wide stop but will look for 100 -200 pips profit
EurUsd also moving into play, Iâm waiting for a break below 1.0900 on this one
Pipsahoy, donât pay too much attention to the ratios of timeframes. Itâs not a rigid system and discretion is encouraged.
If you make sure the 4h and 1h are on the same page you canât really go wrong. Use the 5 min, 15 min or even 3 min for your entry, doesnât really matter as long as the 4 and 1 h are in place.
Greetings and salutations Duck Hunters,
If that Aud.Usd is on your shortlist youâve got the thumbs up from me!
First Duck: the trend is down and technically price is trading below the sma on the 4 hr chart. Fundamentally there is little to help the Aud go up, so sticking with the trend and looking for the selling set-up should be the best way to go.
0.7200 is where we could see a downside break to and Iâd be hoping we get this swing lower sooner rather than on the Aud.Usd.
Good trading to you all in the coming sessions,
Andy
Captain Currency