Thank you, Smikester. How can you determine your entry? Which timeframe?Originally Posted by ;
Thank you, Smikester. How can you determine your entry? Which timeframe?Originally Posted by ;
I chose the consolidation area. I put some brief entries this morning 8 - 10 am gmt following the bearish hourly bar, with the stop loss just above the consolidation at 1.2913. There was an hourly bar that closed securely at 1.2863 yesterday afternoon and I was planning to have a brief off that amount but I liked this morning r/r ratio. Sounds a bit basic, I know.
extended usdjpy 1h @86,84, r=52, missed 1/2 tp for a few pips, place to be
short usdcad 1h @1,0426, r=78, missed 1/2 tp for a few pips, place to be
edit:
cad took 1/2 tp above 100 percent fib mark
edit:
uj sl be
eu short order @1,2879, 50 percent fib markers, r=88
edit:
price went via large, order cancelled
coming back into my own diary with another marketrhythm idea
introducing the doublewoody cci, which on my own setup uses the 89sma as fad cci and 34sma as entry cci
as in almost any trading the cci signs should not be taken too seriously, but they help detect trend and entry within marketrhythm fundamentals
if 89cci is over 100 we are at a relatively strong trend up-trend
if 34cci comes down but then slopes up again, then it reveals a trendcontinuation bounce off 34sma
when the bounce goes over 100 degree, then we can presume an overreaction and might not enter
when the cci signs correspond with price action around 8/21ema then we'd have a good tc entrance
countertrend entries are those when entering short while 89cci is still over 0 and 100, while 34cci has crossed 0, as it might happen soon on the actual eurusd example chart
for a reminder, it's better to take tc's just, but all of us want to gamble ever now and then...
I wouldn't take signs if 89cci goes inbetween 100/-100 for it indies a trend with little momentum, possibly sideways motion
since my time is limited I won't be able to trade tf any lesser than 4h, however that I will attempt to post some transactions... and keep to elaborate trademanagement
long 4h eurusd @1,3919 trading tc cci signal
experimenting with 21 atr, so 1/2 pos contains sl 70 pips and tp 140,
1/2 pos sl 170 pips (last low) without a tp