Thread: Consistent trading

Originally Posted by ;

Good Luck for this pip I'll be watching with fantastic intrest. .

Due Seabreeze. Really like the Seabreeze name. I live in Australia and shore is the thing. There's a thing about the cool ocean breeze!!

Originally Posted by ;

Thanks . Love the name. I live in Australia and shore is the thing. There's a thing about the sea breeze!!

Yes I love the costline too. The air is always fresh and clean. . .You are so lucky to live in Australia, it's a very lovely part of ther world. .

Morning,

I Search for trades right after the NY close. If a pattern has finished, it should have finished at this moment. My charts are GMT charts though, so there's a fantastic possibility they may not match what you have. For consistency sake, charts could be assessed across at http://www.barchart.com. I do that some times.

I Will Record my views in the following manner:

Market - Bias - EB (yes/no) - Long/short @

AUD/USD - Short - No EB - No Trade
EUR/USD - Long - No EB - No Trade
GBP/USD - Long - No EB - No Trade
NZD/USD - Short - No EB - No Trade
USD/CAD - Short - No EB - No Trade
USD/CHF - Short - No EB - No Trade
USD/JPY - Long - No EB - No Trade
Gold - Short - No EB - No Trade
SP500 - Long - No EB - No Trade

Okay, so no Actions today then!

Cheers,

Pip.

Couple of things I wish to clean up before I proceed ahead:

1. I am well aware of the correlations involving currency pairs however I see currency pairs in their virtue, therefore pick of major currency pairs only.

2. The engulfing pattern I am looking for is not technically correct, however it might be at times. Basically I am looking for trend continuation with momentum.

A few exciting one's this Day:

Market - Bias - EB (yes/no) - Long/short @

AUD/USD - Short - EB - Short @ 1.0301 (-5) Stop @ 1.0465 ( 5)
EUR/USD - Extended - No EB - No Trade
GBP/USD - Extended - No EB - No Trade
NZD/USD - Short - EB - Short @ .8167 (-5) Stop @ .8263 ( 5)
USD/CAD - Short - No EB - No Trade
USD/CHF - Short - No EB - No Trade
USD/JPY - Long - EB - Extended @ 82.99 ( 5) Stop @ 81.55 (-5)
Gold - Short - EB - Short @ 1639 (-2) Stop @ 1681 ( 2)
SP500 - Long - No EB - No Trade


Cheers,

Pip.

Kiwi and Aussie picked up!

In the 4 recognized yesterday, 3 orders have been picked up.

AUD,NZD and Gold open.

USD/JPY to be cancelled if not opened at 00:00 GMT.

View of the markets this morning:

Market - Bias - EB (yes/no) - Long/short @

AUD/USD - Short - No EB - No Trade
EUR/USD - Short - No EB - No Trade
GBP/USD - Extended - No EB - No Trade
NZD/USD - Short - No EB - No Trade
USD/CAD - Extended - No EB - No Trade
USD/CHF - Extended - No EB - No Trade
USD/JPY - Extended - No EB - No Trade
Gold - Short - No EB - No Trade
SP500 - Extended - No EB - No Trade

Open Trades
AUD/USD - Short - EB - Short @ 1.0301 (-5) Stop transferred @ 1.0322 ( 5)
NZD/USD - Short - EB - Short @ .8167 (-5) Stop moved @ .8182 ( 5)
Gold - Short - EB - Short @ 1639 (-2) Stop moved @ 1648 ( 2)


Cheers,

Pip.

OK, NZD Ceased for 15 pip loss

View of the markets this Afternoon:

Market - Bias - EB (yes/no) - Long/short @

AUD/USD - Short - No EB - No Trade
EUR/USD - Short - No EB - No Trade
GBP/USD - Long - No EB - No Trade
NZD/USD - Short - No EB - No Trade
USD/CAD - Short - No EB - No Trade
USD/CHF - Long - No EB - No Trade
USD/JPY - Long - No EB - No Trade
Gold - Brief - No EB - No Trade
SP500 - Long - No EB - No Trade

Open Trades
AUD/USD - Brief - EB - Brief @ 1.0301 (-5) Stop @ 1.0322 ( 5)
Gold - Brief - EB - Brief @ 1639 (-2) Stop moved @ 1633 ( 2)


Cheers,

Pip.
https://www.forexforum.co.za/cryptoc...k-indiors.html

Trend can mean various things to different people. Someone using 200 MA is able to observe the current tendency as bullish, where as someone using 50 or even 20 MA can see it as bearish.

And then there is trend within timeframes, can be bullish on daily but bearish on 1 hr.

I've often wondered, what's the appropriate way to judge trend? Series of high high's does that make it a bullish trend? Is the MA at a 45 degree angle? Is the MA flat?

How can I make certain I'm with the correct set of traders that are making their choices based on the 'current trend'.

What is current trend?
I figured it out a while back and have used it occasionally as well. Was I successful with it? A few times. It is no different to using 50 MA as a trend filter.

It has been discussed a few times at the ”DIBS” forums and at the 'Building an Equity Millipede forum too.

No indiors are required; we only need to be familiar with introductory price.

If current price is over open, the sentiment is bullish.
If current price is below receptive, the sentiment is bearish.

I do not want to leave 50 MA, just discussing how logical is the preceding to determine trend?

Let's discuss a scenario:

A inventory ABC, opened trading day at $45.00. That's because there was equilibrium between buyers and sellers at the beginning time.

The price then proceeds to proceed northwest, $45.10, $45.20, $45.30.... Etc, we are aware that buyers are accumulating stock. Simple!

Now if price was supposed to shirt at $45.50, we all know that as a balance point between buyers and sellers. Now price drops to 45.15 and then proceeds to $45.25 (lets just imagine we have an engulfing bar), this would be our signal to go long as it signalled preceding open.

What exactly about trading on a daily time frame? For daily time frame, monthly available is more appropriate. Weekly can be used, but consider it as a more compact term MA. Paying attention to the monthly open is likely not a bad idea.

Cheers,

Pip.