Doji star reversal with follow through, things could change tomorrow but for now, it looks bullish
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Yes I agree with you Dennis, looks like CHF slightly ahead of CAD for bottoms spot. I have abandoned my sell positions against the Yen and are now buying EURYEN. The EUR has remained constant for about 5 week’s now, so as the Yen progresses to bottom some profits should come.
After the advice to watch not only win rate, I notice that in some occasions the swop costs can be significant relative to the profit. Are these based on one’s size of the trade(plus some differences between brokers) or are there other factor’s involved? Enjoy the day
As the market rotates we see the number contracting, Newest Top Trade GBPCHF* was down as much as 50 pips today, a nice start for a short position
looking at the daily action of the GBPCHF
We had a nice reversal doji during the 7am hour, if you had shorted it after the close to the doji candle you could have road the next 4 down candles and hopped off on the first blue candle for a quick +60 pips.
Now, what if you had shorted GBPCHF at yesterdays close, would you have panicked when that doji was a solid blue candle looking like it would never stop going up. Think of the market as a game of poker, that doji was the market trying to bluff you into folding your position
Another allusion: That doji was the pin that burst your balloon if your stops were too close.
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I don’t call them Stop Loss Orders, but Guarantee Loss Orders
I remember reading that, long ago, you were gravitating toward wider stops.
Are you of the opinion now that “no stop loss” is the best stop loss?
Engulfing Candle forming on the Weekly Chart in both the DOW and S&P, This is a very powerful bullish signal. if we get a good close Friday look for a retest of May 1st high. this supports our outlook for a decline in the Yen
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It all depends on what type of trading you are doing, having a stop loss for long term investments may not serve you well, but for the short term trades maybe. I am cool with a break even stop , better yet a sell stop set above current price to take advantage of spikes in the market
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Thank you for the feedback.
Similar quotes caught my eyes a couple of times in FF, but this time i took a screenshot.
Thank you Dennis for the thread and all the tips included in it, it does help 
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Strong weekly price action signals in stocks combined with trade deals with Mexico should point the stock market upward with Yen and US dollar weakening. For the past week while CHF holds the #1 spot it was NZD with the strongest weekly move.
If your strategy is to play the pullbacks then current Top Trade GBPCHF* is giving you some golden setups. Just like on Thursday we had a sharp price pullback and look at how our favorite trade signal the 200 ma on the 1hr chart gave you a golden short trade signal
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Not much happen today
I’ve entered a short position today on the pullback to the 200sma on the 1hr time frame. GBPCHF.
Cheers.
I would love to hear how you managed the trade, looks like it started off good but then gave us a double pullback
a day of pullbacks and consolidations
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Just posted the link below for somebody else on another thread and then this thread popped up.
Here you go. May be of help.
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I am in it too, and it is exactly flat right now. I missed entry on the first 2 pullbacks to the 200 1hr, by a few pips each time, with sell limit orders. This was v frustrating. I have a stoploss at 1.2675. If price gets below the 200 1hr I expect it to go and test the low, and I will take profit half at 1.2555, if it works out.