Daily Only Currency Charts

[trojoh68]

I'm Long on CJ. Entry on the H4.

I think that I see your set-up.
Do you have a target in mind?

[aliassmith]

Tip:

One advantage of Currencies is that multiple orders are not averaged together.
To take advantage of this and get around FIFO put multiple orders in with different sizes.

So order 1 would be 1.00
order 2 would be 1.01
order 3 would be 1.02

The advantage with this is you will be able to close orders when you want without FIFO
being and issue.

Now that you are using different order sizes you would be able to scalp around long timeframe
trades. If you took a trade off of the Daily chart and you see something in the same direction
on the 15 minute timeframe you can trade that short timeframe trade and leave your longer trade
run.

[trojoh68]

Tip:

One advantage of Currencies is that multiple orders are not averaged together.
To take advantage of this and get around FIFO put multiple orders in with different sizes.

So order 1 would be 1.00
order 2 would be 1.01
order 3 would be 1.02

The advantage with this is you will be able to close orders when you want without FIFO
being and issue.

Now that you are using different order sizes you would be able to scalp around long timeframe
trades. If you took a trade off of the Daily chart and you see something in the same direction
on the 15 minute timeframe you can trade that short timeframe trade and leave your longer trade
run.

Very good to know. Thanks alias!

[forexjpn]

Tip:

One advantage of Currencies is that multiple orders are not averaged together.
To take advantage of this and get around FIFO put multiple orders in with different sizes.

So order 1 would be 1.00
order 2 would be 1.01
order 3 would be 1.02

I don't have that problem here in Japan, but.....so simple yet so brilliant!

[LeMercenaire]

I'm Long on CJ. Entry on the H4.

I think that I see your set-up.
Do you have a target in mind?

Sorry, just saw this. Yes I have set a fixed target and SL as I am on holiday and not logging in to the trade computers.

I have no idea what the trade has done. I'll probably be able to check it tonight or tomorrow at some point.

Once I do that, I can walk through my thought processes on it.

[trojoh68]

What I'm watching for this week. I'm looking for price to retrace to the shaded areas and will watch the price action on a lower time frame.






This one may already be running away.

[TygerKrane]

What I was thinking when I attempted some trades against my trading plan this week.

The last 5 candles on the chart are Mon - Fri.
I made these observations on Wed (3rd to last candle; pink)

1. Saw the strong downward move with candles both ①closing over the previous candles' extreme, AND ②each candle closing within the lower third of the candle range.
2. A PullBack Long as a possible zero-ing out, and then what looks like a descending channel to me.
3. Trade idea of going Short when price reaches the top of the descending channel (light green box).

Screenshot_20190727-131856_Gallery.jpg (120.29 KiB) Viewed 3913 times

and here is a blank chart in case the peanut gallery wishes to comment

Screenshot_20190727-133325_TInterceptor.jpg (86.3 KiB) Viewed 3913 times

[TygerKrane]

D1 charts aren't my main analysis focus, so 36 D1 candles are enough for me.
But in case you need more candles to make your analysis, here are 61 candles:

Screenshot_20190727-140110_TInterceptor.jpg (86.2 KiB) Viewed 3910 times

[trojoh68]

I haven't posted on here in awhile. I took a lot of losses last month in my effort to trade longer time frames. Taking some cues from DojiRock, I am slightly adjusting my strategy and will see how it goes this month. I am watching D1 candles --- and D2 to W1 occasionally --- for directional changes, then using lower time frames for entries.

Here is my first trade for this week on the H12 chart...




...and the same trade from a H6 chart.

[TygerKrane]

Continuing...

Screenshot_20190805-114739_TInterceptor.jpg (89.22 KiB) Viewed 3756 times