Search results

No, don't trade oil and much reduced trading during 3 weeks of holidays quiet period. Working on the never ending problem of solving for trend spotting and getting on board those winners.

Look at this, any Trend Meter long signal above the 30 SMA or any sell signal below the 30 SMA o_O

An indicator called Trend Meter on Tradingview say "I concur"

The signal on 4-hour, below the 30 SMA, so far profits denied if entered, still anything could happen on Friday.

And there is the retracement on Daily, possible weekly high made on Wednesday.

An example, here is a pair clearly in down trend, weekly, blanked out this week's price

I should have put the demo trades on here this morning, but I had periodontist appointment and other distractions. There was a bit of inside bar there too, so plenty of opportunities to enter.

Current sell signals on AUDUSD, and EURUSD. Just going to watch the daily close and then strength meter.

An update on the previously mentioned USDGBP short trade, the arrow is the original signal from last week, X is where I placed it, suffered through consolidation, and draw down since then, now looking good, will move the Take Profit down to the ADR for Thursday if it continues, go USD.

I took this USDCAD long yesterday, demo, and got lucky on news spike, also holding a GBPUSD short but that was an Inside Day so anything can happen there.

So many inside weeks and inside days after last week's big trending moves. Some JPY longs look good but the risk of BoJ intervention of the YEN. Except NZD, continues weak on bad news. Patience is the order of the day.

Watch this video, understand what he says about making the high or low of the week on Tuesday or Wednesday, then check your charts, especially the 4-Hour. The Weekly Bias - Excellence In Short Term Trading

If anyone is reading this, did you notice the 4 opposite entry method signals on the last 4-Hour chart were also excellent trades, as shown here - But the catch is, there was no way to determine that the trend for the week would be long, so it's only a win for hindsight.

Another example, EURNZD was an Inside Week, look how the Price Action went. Hint, trend is your friend until the END. Onto the Daily, bounced off the 200 SMA, watch for the Tuesday / Wednesday reversals, can't make this up. And the 4-Hour where the magic happens; one day I will get this in...

Here is what I'm thinking and looking at now, the 30 SMA on 4-Hour, using the 4-Bar Fractal as a guide because the Close price is the most important, that is, where is it? So, sticking with some guide as higher time-frame trend, best if Daily is below the 200 SMA, then looking for the early...

No problem, not doing much this week, market is in turmoil, trends may change, bank holidays, WAR, and I go hospital for procedure today, Tuesday, so probably take it easy for a week. Cheers.

Update: Week of October 2 - 6, 2023, no trades entered, no confidence in any of the trends. Many expert analysts are writing about a USD reversal, it will take a long time to shift the EMA's, and now Israel is at war. Week Ahead: King Dollar Stalls

Check this out, if we believed in the major trend, taken smaller, fixed size positions, no stop loss, they would all be in profits now!

I have GBP weakest with USD and NZD strongest, so they are best options for trades this week, depending on news of course. This is the price action of yesterday; using a stop loss of 85 pips, the 2 circled trades of Friday would be losers, and the next 2 would be winners as shown by the Fibo...

Here is the chart as I normally look at it with the 200 EMA and FX Power showing the longer-term strength and weakness. On the GBPAUD you can see the AUD is not as strong as we would like it to be, but it came back; can it continue this week is the question. Now, for the AUDCAD, we can see...