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#Post#: 142--------------------------------------------------
Re: TA Forex Trading
DIR By: kermit42
Date: January 8, 2017, 8:34 am
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Week 2:
Account: $60.30
Goal: $63.32
Pair: GBD:USD, long
(Under ideal scenario: account $63.00, Goal $66.15)
Week 1 was a disappointment, but not a disaster. My trades were
all green but for negligible amounts of money, mostly because I
rode out retraces and gave back profits.
I looked at 3 pairs this week—EU, GU, and NU.
EU weekly chart attached. Last week, the EU broke a double
bottom and pulled back to test the support turned resistance.
The week ended with the pair sitting right at the support line,
whether it holds or breaks should indicate the next move, but it
hasn’t held or broken yet. So that’s a wait and see.
NU daily chart attached. NU gives the clearest signal across
charts, but there’s very little volatility, so never mind.
GU daily chart attached. GU was down, then up, then down again
this week, finishing on strong down move (the dollar finished
strong because of Fed statements concerning 2017 rate hikes).
The daily engulfing candle suggests it has more drop in it.
GU is not as clear as the NU, but I’ve been playing it for a
while so I’ll be looking for a short entry around 1.231
Caveat: As Pennies noted last week, GU is due for a strong
correction on the longer charts, so I will keep my eyes open for
signs of it starting.
#Post#: 143--------------------------------------------------
Re: TA Forex Trading
DIR By: jwilsontrade1878
Date: January 8, 2017, 8:35 am
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Nah, not really a holy grail per se, Kermit. But it is very
systematic. It produces losses and wins but the wins far
outweigh the losses. Basically, you lose during consolidation
(or make small gains) and you bank big time on trend runs. The
big thing that stands out is that you never change the strategy
regardless of whether or not the trade wins or loses. It
probably could be coded easily by an MT4 programmer. I dabbled
with coding for a while but never really stuck with it...takes a
while to learn.
Sent from my LGL62VL using Tapatalk
#Post#: 144--------------------------------------------------
Re: TA Forex Trading
DIR By: javalin
Date: January 8, 2017, 12:47 pm
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Well i'm all ears Pennies
#Post#: 145--------------------------------------------------
Re: TA Forex Trading
DIR By: javalin
Date: January 8, 2017, 12:48 pm
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Kermit-what moving averages are those 3 lines
#Post#: 146--------------------------------------------------
Re: TA Forex Trading
DIR By: kermit42
Date: January 8, 2017, 1:19 pm
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Hi Jav. They're EMAs 144, 169, and 196 (12, 13, and 14 squared).
It's the tunnel from an early Simplegreen post that has formed
the backbone of my charts for years. The shorter trend line is
the EMA 12.
#Post#: 147--------------------------------------------------
Re: TA Forex Trading
DIR By: javalin
Date: January 8, 2017, 1:34 pm
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Thanks Kermit-i need to addthose again to my charts-
#Post#: 148--------------------------------------------------
Re: TA Forex Trading
DIR By: javalin
Date: January 8, 2017, 1:39 pm
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Kirmet can't get my emas lined up with your on NU daily-i'm
using emas on the close not simple -what are your settings on
thos MAS
#Post#: 149--------------------------------------------------
Re: TA Forex Trading
DIR By: kermit42
Date: January 8, 2017, 7:04 pm
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I trie to upload my chart template, but couldn't--unrecognized
file type.
I trade with Oanda, but XM's platform works on Mac, Oanda's does
not. One possible issue--XM charts do not include the weekend.
Some charts do, leading to different trend lines. I've always
wondered what affect that has on the tech. Especially shorter
time periods, where it makes a huge difference early in the
week.
I'll try to do better, but might not be able to until
tomorrow--gotta put the little one to bed right now.
#Post#: 150--------------------------------------------------
Re: TA Forex Trading
DIR By: javalin
Date: January 8, 2017, 10:46 pm
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yea that probably makes a difference-can't wait to see what
Pennies has up his sleeve now lol always good
#Post#: 151--------------------------------------------------
Re: TA Forex Trading
DIR By: Heavyweight
Date: January 9, 2017, 12:15 pm
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NU seems to be forming a 79 pip cup and handle pattern on the
15min. Just waiting for the break of the rim then she should be
off topside.
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