Just would like to give you a heads up that my next signal will be a Sell Stop again…
Considering the current strong bullish trend and also factoring some seasonal February pattern of the metal, we will most probably not going to see even a single daily retracement until end of the month…
The signal is very mechanical, there is no discretionary in its calculation and conclusion… So, if you wish to trade it, do it with your discretion and you need to monitor the price action very closely; watch out for reversal. If you wish not to, be my guess.
It has happened back in August’12. The detailed pattern certainly do not look exactly the same with today’s, but we can see after Candle crossed SMA 200 in Feb’12 scene, one green candle was still sticking afterwards. Then, it was followed by retracement of red candles before price continued the bull trend again.
I’m not saying that what will happen again in the near future; but it is one probable scenario because it’s not every week Price crosses SMA200.
RRR: Risk Reward Ratio
• For first timers, please read my post #1here to see the information about me, my signals, and my disciplines. For regulars, kindly also check it every now and then as a reminder. I may also have made a number of revisions after.
• Please read the DISCLAIMER below.
• To protect capital, it is advisable to trade only with the STOP Pending Order, with tactic as follow:
(a) Current Price is AT LEAST 200 pips BELOW the OP (for a Buy Stop Order); or
(b) Current Price is AT LEAST 200 pips ABOVE the OP (for a Sell Stop Order)
• Put all three price levels in AlertFx.com for convenience. (Registration is FREE)
• Good or bad past performances of the past are no guarantee of good or bad performances of the present and the future.
• Risk LESS THAN 3 % of Today’s Equity. Place trading at the Lot Size that represents that Risk level.
DISCLAIMER : Transactions in Forex Trading have risk and have the same potential between losses and gains. All of your transactions are fully your own responsibilities as a Trader and / or the Owner of your Capital.
I hate to break the party so early, but few minutes after I published the signal, still early in the morning, [B]our SL ($1323.85) has already been hit[/B]. So by my discipline, the signal is already expired now. I suggest you go with the trend again today.
As you could see, we’re having down movement now. And also currently being challenged with SMA 50 in H1.
In post #163, the yellow and blue line are EMA 5 and SMA 8, used for showing price direction only. The big lines are SMA 50, 100 & 200. So nothing fancy, but often proves to be very useful in giving actionable information for my trades.
RRR: Risk Reward Ratio
• For first timers, please read my post #1here to see the information about me, my signals, and my disciplines. For regulars, kindly also check it every now and then as a reminder. I may also have made a number of revisions after.
• Please read the DISCLAIMER below.
• To protect capital, it is advisable to trade only with the STOP Pending Order, with tactic as follow:
(a) Current Price is AT LEAST 200 pips BELOW the OP (for a Buy Stop Order); or
(b) Current Price is AT LEAST 200 pips ABOVE the OP (for a Sell Stop Order)
• Put all three price levels in AlertFx.com for convenience. (Registration is FREE)
• Good or bad past performances of the past are no guarantee of good or bad performances of the present and the future.
• Risk LESS THAN 3 % of Today’s Equity. Place trading at the Lot Size that represents that Risk level.
DISCLAIMER : Transactions in Forex Trading have risk and have the same potential between losses and gains. All of your transactions are fully your own responsibilities as a Trader and / or the Owner of your Capital.
The FOMC minutes showed the Fed are likely still on course to continue with the Tapering. Before, Buyers still hoped that soft economic data so far this year might cause the Fed to reconsider.
RRR: Risk Reward Ratio
• For first timers, please read my post #1here to see the information about me, my signals, and my disciplines. For regulars, kindly also check it every now and then as a reminder. I may also have made a number of revisions after.
• Please read the DISCLAIMER below.
• To protect capital, it is advisable to trade only with the STOP Pending Order, with tactic as follow:
(a) Current Price is AT LEAST 200 pips BELOW the OP (for a Buy Stop Order); or
(b) Current Price is AT LEAST 200 pips ABOVE the OP (for a Sell Stop Order)
• Put all three price levels in AlertFx.com for convenience. (Registration is FREE)
• Good or bad past performances of the past are no guarantee of good or bad performances of the present and the future.
• Risk LESS THAN 3 % of Today’s Equity. Place trading at the Lot Size that represents that Risk level.
DISCLAIMER : Transactions in Forex Trading have risk and have the same potential between losses and gains. All of your transactions are fully your own responsibilities as a Trader and / or the Owner of your Capital.
Past two trading days been mentally challenging and tiring, yah… Price went up and down…
I mentioned our SL got hit first before it went up (20/02). Then, at end of that day our TP almost got hit. The next day (21/02), price went down until it got rejected by SMA 50 and going up again. And almost hitting TP again, until it finally hit the TP.
Would love to call this a Big-banks conspiracy against my trade, haha… :18:
I guess my NEW learning from Post #175 above–other than the 200 pips trigger level–is to open my Pending Stop Order only AFTER Euro Session starts; after all it’s when MOST of the actions begin.
I’m currently working on a ‘[B]New Rule for Signal Production[/B]’. I think I might have cracked a new method to identify a new kind of High-probability Setup (HpS). Of course this needs to be tested in live trades first.
So the next time I publish a signal with this logo ( [B]BETA SIGNAL[/B] ) on top of it, it’ll mean the signal is the product of that New Rule. Like any beta products, please treat it as one. I myself would only trade it in my demo account first. I’ll make another announcement when I’m confident that the New Rule has created consistent accuracies. On the contrary, if the accuracies are low, I’ll declare that I will neglect the New Rule from then on.
Actually, today I supposed to publish that [B]BETA SIGNAL[/B]. But I wasn’t convinced yet, though I’ve seen 4 consecutive accurate beta signals before. Until I am seeing today’s beta signal’s TP is almost got hit as I’m writing this post.
Note:
About the idea of opening pending order only during European Session, I would need to rethink it and get more samples before making it as one of my trading rules. SL got hit first (though TP got hit later) is just the kind of risk that we could not completely avoid.
