CatFx50 - page 327
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Hi Nina-
The level 1 signal of USDCHF came between EMA 50 and EMA120 resulting in a loss. Do you suggest to wait till the price closes beyond EMA 120 to join the trade assuming confirmation of other indicators?
Best.
- SukhenHi Sukhen,
I think it is not good to wait until the 120 ema is crossed because of you miss a lot of other good trades and that is shrinking your potential profit.
It is good to have less amount of loss trades, but you must dissociate from the imagination that you will only have winning trades with any system. Loosing is a part of the game - you "only" must see to have more winning trades of the same category (pips-amount, risk). But this "only" in this sentence is the problem....
Hey mate, you can never predict the future, but you can watch the chart action. I know that is stressful, but it's money we want to earn here and that is not easy. IMHO that is the only way to become a successful trader and will help you to filter out signals which are contrary to the market.
If you see like here in the case of the usdchf long loss trade from yesterday there are some other issues which could us prevent from trading this signal. To see as a "filter":
1.) There was an upmove from over 90 pips in the preceeding hour before. That is no indication that there could not be more, but the probability of a retracement is getting high.
2.) Trend of usdchf is down. We have both ema's with a negative gradient and ema50 is unter ema120
3.) Price could not hold above em120 it retraced back.
Watch these 3 point additionally in cable - you'll see they fit here too.
I know that's easy to say afterwards. You are a good trader if you can see and feel these situations in realtime each time and not only to follow a system blindly.
mibl
Hi!
What I suggest is to look at what's going on and trade accordingly. I mean: we should not trade blindly. If the right buy signal is, lets say, 5 pips below EMA120, common sense says "wait".
Going up, EMA120 is resistance and going down is support.
Nina
Current view on signals
EURUSD: no signal yet - price and HistStepMAStoch ok, but aNina has no crossing
GBPUSD: 8:00 cet: Formal signal at Level 2 short @1.7867, made a current low @1.7806 (>10:30 cet)
more secure entry would have been @1.7856 one hour later (9:00 cet) after price overstep ema120.
//news at 10:30 UK GDP was as expected at 0.6%
USDCHF: 9:00 cet: Level 1 long @1.2693, made a current high @1.2715
(price and HistStepMAStoch give signal before, but confirmation of aNina was first at 9:00 cet)
mibl
Hi!
About the importance of EMA120:
Can you please look at EURUSD chart?
Can you tell me where did EURUSD stop?
THX.
Nina
signals?
Anyone seeing any signals so far today?
I see alot of movement, but no clear direction at the moment on any of the pairs.
Hi!
About the importance of EMA120:
Can you please look at EURUSD chart?
Can you tell me where did EURUSD stop?
THX.
Ninaadditionally....
Got a buy signal on EUR/USD, but the CHF is showing long as well.
Additionally, the U.S. Durable Goods Orders report is due in about 30 minutes, so I'll wait and see what happens.
Did anyone take the Long signal in EUR ?
USDCHF and EMA 120
Mibl and Nina-
I thank you guys so much.
I used StrategyBuilderFx chart and the candle (4/25 15:00 Hrs) closed beyond both EMA 50 and EMA 120. I was thinking probably the announcement produced enough potential for the price to go even higher and the upper shadow (20 PIps) was probably due to profit taking. I am sorry about my confusion. Again, it was no NFP and 90 PIPs was too big in so short a span. That could have prevented me from taking this trade. I want to know if I am thinking in the right direction.
About the strength of EMA 120, I have absolutely no doubts. In fact, had I waited a little more, I could see the price fell back below EMA 120 pretty quickly.
Thank you guys again very much for explaining the things clearly.
Bests
- Sukhen
anyone get back in eur long level 2 2421 for a quick 20
anyone get back in eur long level 2 2421 for a quick 20
Kind of keeping clear right now - hit the News Straddle on the EUR and made some pips - then followed it back down for some more, but the fact that the CHF and the EUR are out of sync has me worried