LOL Clint and CarlosRay, even to give us a mention would’ve been a nice gesture ehhh …
Have a great weekend,
[B]Andy
Captain Currency[/B]
Been doing some manual back testing with dax and ES mini with the Ducks set up and some added use of looking at volume ( though not essential) and my paper results look very impressive. I will trade live these markets over the next few weeks and post live trades. I like to add VSA principles as that’s my background but its probably not essential to.
Greetings Duck Hunters,
Just had a look at the charts and this is the read I’m getting.
Eur.Usd
Bearish bias, technically 1st Duck (4hr chart) favours short set-ups.
Thoughts on Eur.Usd: sideways, not a lot of price action over the past 3-4 days. A break and hold below 4hr support is needed to get things going again for the bears otherwise we could see more of the same (sideways action) or even a swing higher which would likely see bulls back in control and calling the shots.
Aud.Usd
Bearish bias, technically 1st Duck (4hr chart) favours short set-ups.
Thoughts on Aud.Usd: I’d reckon there is a leg lower coming in the sessions ahead. Price recently moved up but held below the sma on the 1hr chart, a potential retracment. Would really like to see this pair come under some selling pressure, taking out hourly support and then going on to take out 4hr support levels too.
Usd.Jpy
Bearish bias, technically 1st Duck (4hr chart) favours short set-ups.
Thoughts on Usd.Jpy: Not a pair I want to short at the moment, I think the bears are struggling at current levels and bulls are looking to come in and spoil the 4hr downtrend. I could be wrong, a break and hold below the major support level (110.10) on the 4hr chart would keep bears in control.
Trade well,
Andy
Captain Currency
Hah look at me go, those are the three I was looking at! I’m so glad I have you on Twitter Andy, makes it easy to reply straight away. Thank you for sharing such an amazing way of trading with us! In regards to these pairs, since they all involve the USD, how do you generally trade around the FOMC?
Ahh you’re welcome Phluxxed
Nearly sure I did a short post on something similar (pre-FOMC, pre-NFP, what choices you have), must be on this thread somewhere if you want to go digging for it or if one of the other members have a link they might re-post it.
Andy
Captain Currency
Here is a link to one such post by the Captain: [B]How to position yourself pre-FOMC … Get Comfy![/B]
PS! There may be other posts on the subject, so do a [I]Google[/I] search with the added filter text “[I]site:forums.babypips.com[/I]” to help find them!
Thank for providing your trading system! I hope I get to try it out someday.
Thanks FMIC and Andy, I completely forgot about that post! I may have to read the entire thread again Haha
Thank you so much! I i’ve one question, which are the pairs your’s have been trading currently?
Well I closed out 3 trades at the start of the week NZD -7 pips EU +57 and Aus +65
The pairs on my list for this week are JPY EU GB Eu/GB Nzd Aus and Chf.
Magic, sounds like you caught the last leg of the recent downtrend on Aud.Usd. Nice to bag +65 pips on the way down, well done Donovan!
Eur.Jpy would have been a very good pair to trade over the last 2 - 3 weeks, very nice (smooth) down-trend!
Cheers FMIC, I like this post too: Just a few options you’d have pre-rate decision #FOMC #Rates #NFP
Best wishes on your forex journey Ibxjollier.
No problem Speedy Gonzales …
Trade well,
Andy
Captain Currency
thanks again Captain for the helpful examples.
Idem, where do you get your figures, please? I can’t line them up with anything. Cheers Bantam.
just thought i’d share how part of my system works. Basically I combine what I got from ducks and what I got from babypips– spotting mini range breakouts and mini reversals within 4h trends.
See pic for my typical setups with initial stop loss placement. Got a positive result in my backtest but first forward test was about 0 to -5R (if done better about 0R), which surprised me (after 13 trades). I think it was just bad luck…hope so.
Pic shows typical initial stop losses. For range breakouts it’s just a little outside the breakout level. For reversals it’s the nearest swing point. if the stop isn’t at least 20 pips, i’ll pick another fractal so it is. On average seem to get about 30 pip stops.
It’s encouraging to see captain’s live results on twitter. For about 2 months no gains but then they keep coming. That’s reality from time to time. A newby might not get that straight away.
if anyone thinks my system is flawed let me know…thanks
link might help with viewing :
https://app.box.com/s/puxgkce6fl2bre8o89x8du4hide29alt
I’m worried about your graphic designer Harpoon, has he been drinking too much coffee …
Good trading for the week ahead.
[B]Andy
Captain Currency[/B]
haha… you know i do drink coffee 2-3 times a day (cutting down from 4). but i’ve always been messy. it’s just the way some people are. leads to higher productivity i guess :57:
i just took usd cad. normally my stop is closer to the breakout level (say 20%, but maybe 50% or outside the range bottom is better) see what happens. this is a "1h consolidation duck breakout " . duck breakouts galore tonight ! haha.see what happens with this system…
Hello Captain and Anyone Else Who Can Help,
On May 30, you sent out an email that contained the following: “The 3 Ducks Fund (ticker symbol: TTD). Call it a “micro-fund” Norman that’s now open to small investors who can join and then automatically take similar trades to me, a clever bit of kit!”
I am very interested in looking into the details of the fund as I may decide to join! Only problem is, I don’t know what “ticker symbol: TTD” means or what media to look for it in, and I don’t know where to read the official info or otherwise be informed. Please help. I’d really like to find out. How can I join?
This may be too much to ask, Captain, but if you’re able, please tell me how I might contact you by email.
Thanks,
Norm
Go into his profile & click on his home page. Contact details are available there.
Failing that simply send him a private message.
Greetings Trend Traders,
Fundamentals could decide where price goes in the coming sessions, we might have to leave our technical analysis hat at the door for the moment …
Later on today (Wed) there will be a Fed meeting and on Friday we’ll get Non Farm Payroll numbers. The question I’m asking myself is: will trends keep there current direction after the news has been released and digested? I can’t honestly say, it is a wait and see game.
Beware of False Breakouts! During these times (on a run-up to large fundamental announcement) please be aware that pairs can do false breakouts especially if they are trading at their highs/low and maybe moving sideways within a tight 50-60 pip range, a bit like Eur.Usd at the mo (see chart below)
Sure, price could blast through resistance and move +100 pips without us but buying breakouts pre-news might get you into a lotta trouble …
Safe trading guys,
Andy
Captain Currency
Thanks Kyle. I’ll do that.
Norm