Quote:
Originally Posted by hoss
I appreciate you posting your trades. It definitely helps with recognizing the patterns and for confirmation. This may have been asked earlier, but how man pairs are you watching and how many different time frames? I prefer 4 hour and above but I notice there are some nice ones on the 1 hour chart.
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1-Hoss,thanks for your comments..PAIRS:I watch all the higly volatile pairs..AUDJPY,AUDUSD,EURAUD,EURJPY,EURUSD,GBPJPY,G BPCHF,GBPUSD,GBPAUD..plus Crude Oil,Gold,and a few Indexes,mainly SP500 and Dax..everything is correlated(Check late correlation between EURJPY and DAX and you will be intrigued,to say the least
),so,having a sell signal on gbpjpy while having a buy signal in audjpy and sp500 tells me that something doesn`t ring true..while having a buysignal on audusd and,at the same time having buy signals at audjpy,gbpjpy and Gold(aud has a positive correlation both with Gold and metals and with gbpjpy trough carry trade,usd has negative correlation with Gold ..so the trade is supported on both legs aud&usd))tells me the trade has potential..timeframes..D1 to m15.
2-Short EURJPY trade closed,at 6 pips profit ,154.52,reasons why:Protecting the trade..1-there was an m15 bar that moved above the previous 3 highs,approaching our entry price,so,no need to wait for price to touch our entry price(it did)..2-The move happened after a previous low penetration was rejected(red line at the chart),creating a buy 2B signal on m15 that opposed our open trade direction....see attached chart.
Regards
Simba