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Well, US might be on hols but in the UK its verbal warfare in the house of commons… as the commoners go head to head with the government… ie, the commons MPs (the citizens representatives for the government) vote on how to get past the Brexit deadlock. There is pressure growing for a second (or technically; third) EU referendum. If the referendum passes as an option there is good chance that the Brexit could be called off. personally I’m going long on the pound, being doing loads of research on this one. Anyone else bullish or bearish on the pound? Also taken a long position on the EURUSD as per the discussion last week: Weekly Discussion [Week of January 13 - 19, 2019]
Already taken one small position at first sign of respect of this lower trend line but possibility of increasing the position if price breaks past the right resistance as indicated by the blue arrow:
Yes, I was early (still trying to work on my jumping the gun tendencies), however I made a very small trade. I’m looking for a PA break of the (short term) trend resistance (orange down slope trend with blue arrow), similar to your 21 HMA to put a further small trade. This is a counter-trend trade I’m setting up, so quite risky as the trend is currently down. DXY is still bullish, but my momentum studies are signalling early weakness with divergences, again this is a riskier type of trade I’m doing, so the position is small and the stops are quite small and I have risk mitigation in play. On the fundamentals I think the risk of the US government extending the current impasse is quite a lot larger than has previously been factored in, therefore I’m also adding this fundamental aspect into my analysis.
Quad, I don’t trade with indicators, but I do use the TVC chart for show and tell, once a trader is planned
I will drop down in time frames or not but I wait for the next candle to confirm my plan unless that has already occured and then I will wait for a pause to jump into the price action. Is it perfect? no but I do have over an 80% win ratio.
Quad, That is correct only a few patterns and candles, on my trading charts I do keep a 21 HMA and 200 HMA on it to maintain the horizon.
I’m a bit lazy so I use the same strategy from 5M to 1D however on the higher time frames I will review S&R for the white space on the lower time frame I keep position in with a view of the major trend ERGO I stay heavier on the trend side than on the reversal/minor trend. I used to have a much higher win ration but relaxed to trade longer term and allow more winners longer by increasing my stop loss.
