I usually place a position on major news announcements.
In this case the NFP came out Friday - when it leveled off, I placed for the retracement that usually follows those types of reports.
that said - I do show a buy signal @ 2115 for EUR/USD the bar (30m) starts at 0530 GMT open is above EMA 50 with SToch in Green open is at 2115.
We hat today the following signals:
GBPUSD level 1 long 1.7458 at 11:30cet, made shortly afterwards a high at 1.7467, should be stopped out at 1.7424 after 17:00cet or some pips earlier because of the opposite signal. >> -34 pips (ex. spread)
GBPUSD level 1 short 1.7420 at 17:30cet, made a low 1.7375 after 19:00cet >> +45 pips max. range (ex spread)
USDCHF level 2 long 1.3015 at 14:30cet, made a high at 1.3058 after 18:30cet >> +43 pips max. range (ex srpead)
difficult day today
Hi Angel, hi moneyline,
because of questions from you both I'll show the signals again on the chart.
Description of the afternoon signal in cable:
So the second signal in cable I called therefore level 1 because of there was a crossing at 15:30cet of the price before (only 1-2 pips). Then 3 candles later the histo step turned red first. Even aNina had more an ON line than a real crossing - but at that time it seemed to be a crossing on opening of the candles. --> short
(The type of signal you got in this case is very depending on the dataprovider because of the signals were very slightly on/at ema50. At your provider perhaps this only was a level 2 signal because of no real crossing of price/ema50.)
Remember: Price and histo step do not need to cross at the same time. There could be a time difference. The more closely the better signal.
Description of the afternoon signal in USDCHF:
There was no real (end of candle) crossing of price with ema50, price resists above ema50, histo turned from red to green --> level 2 long
nice study. Additionally for level 1 HistoStepMAStoch should turn colour (before the price crossing or afterwards) --> in your explanation above
- short scene: Histo turns from green to red
- long scene: Histo turns from red to green
reaction on cable because of news: 08:30 UK ECON: Feb Trade Deficit GBP 6.5bn, Much Bigger-Than-Expected]
January"s trade deficit has also been upwardly revised to GBP 6.5bn, from GBP 5.7bn.
heres alittle somethin
ATR Support 1..2 and Resistance 1..2 levels..
ADX BARS I like those the best for coloring Bars
Harold4x; MIBL and whoever may be interested: Try the 169-EMA as your initial target (I don't use limits) and see how often the price stops against the 169-EMA such as was the case yesterday @ 09:00 CET. As far as Murrey_Math is concerned, I alos believe that it is a winner.
Harold4x, your strategy with the 3 step_stochs is a worthy one.
I was looking at it and within 5 minutes it seemed like the bottom would never come. I mean, it had some big time selling activity!
thanks for this hint. I'll take a look at it for the next time.
I will also take a look at it.
@ --> Mibl
I looked at your chart and noticed how small the difference was. No wonder I couldn't see it on my chart. BTW, what platform do you use?
PS: About the graphics: I just wanted to do something simple to get the point across. I'm sure there are many more nuances than what the graphics show.
you'll always have differences between the providers. Sometimes this will influence your decision - even on narrow slight signals. Nevertheless forex is not one "exchange". It's worldwide, distributed and there are differences between the brokers.
Yesterday I made a fault and took this first signal on cable - althought my trader's stomach told me "do not buy", I bought the catfx signal and loose money. Trend was still going downwards and there was no real pressure to the upside. I had luck in taking the other later signal too and absorbed my lost nearly.
Ok, that's life. Because of that it is very difficut to trade in realtime, on real platfrom, with real money, making fast realtime decisions, over the whole time. Sometimes the decisions are wrong...
The most powerful trader's tool is not an indicator. It is the ability to make realtime decisions on "when to hear on your stomach" and "when to avoid to be emotional".
PS: My charts are based from Northfinance.