Hi everybody I enjoy trading the forex - sometimes I win and maybe more then sometimes I lose. I always appreciate feedback - good or bad. I play multiple time frames as my indictors are fairly consistent. The main idea of the trade is to wait for price action to cross above either the Triangular MA and hit the regression slope above - or in reverse. Usually if price crosses one indicator it will typically hit the other indicator. I use the 75WMA as the guideline. Fibs I place typically or atypically on any power bar which I cannot figure out which way price action will go - or for stops and targets. Euro chart below is on the 30 min.The blackline is the guide 75MA. The green and light blue are the TriMA and slope lines. If price action runs beyond the indicators I stay in trade till price action calms down and touches one of the indicators or 75, 100, 200MA. If the price action jumps into this indicator zone and back out, I usually find price will usually double top or double bottom and continues back into the indicator. Sounds complicated, but it really is not.
Okay so what went wrong with the system(jeesh). On the 30 min on the open it crossed below the indicator and below the 75ma, anytime entering above the indicator, price was pushed back by the mid bolly band. So the 75MA still holds - trade remains short
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40 pip win with euro to 1.2458. There may be a double bottom at 1.2440 if not the bottom daily bolly is at 1.2422 - which would be my target - but I would watch that 1.2440, may bounce up
I like the Kiwi, however if this channel is correct then should see price movement bounce off the purple line, TriMA, till closer to the top trend where NzdUsd whould fall below and head towards its neckline at .7554
UsdCad is well supported on the 4hr above the 75ma - I always keep a tight stop on euro when playing for quick profits up - UCad looks like it is building up a bull run again into the 1.03 range
UCad above 1.0235 remains bullish - capping euro to 1.2485 - 1.2498 range. If UsdChf starts rising in the short term - euro will fall back down. Guard any quick long profits on euro
If euro falls below 1.2471 on 5min, it will test the 75ma at 1.2465, if falls below it will go to bottom of indicator at 1.2450 where it will test the low of the day again
Careful euro did not close below the 5 min at the beginning of the hour. Want a clear break down below the 1.2464 mark
Still looking for the 5min 75ma cross below 1.2464. If the TriMA holds price at bay - should see a good move down
Okay so the regression slope crossed the 75ma, but I am still cautious - looking for 1.2445 down to 1.2400 as price brackets broken - happy pippping everybody. Remember this is stone soup, feel free to contribute a carrot indicator - systems only get better with more help
I never like the obvious because it is never what it appears to be - okay Euro breaks trend falls down to 1.2384, seems obvious - but I have my doubts
Revisiting NzdUsd on the 8hr - top trendline has remained intact with targets still in place - unless it starts to channel - need a break below the bottom .7850
