Forex Trading With Simple Setup - page 19

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goldenequity:
Hi Ramdas, The reason you post charts "after the fact" is very clear and very cool.

Hi goldenequity,

Thanks for your comments.

I always read your signature which is at Bottom of your post.

it is "You never know.....until you find out!"

This is powerful message. I love this sentence.

Best Regards

Ramdas

 

Curious

Ramdas,

Why should we take 3 instead of maybe 1 or 2

Files:
cable_01_17_07.jpg  116 kb
 

Also, how would you have traded this, GBPJPY and why?

Files:
gbpjpy_1.jpg  113 kb
 
sarama001:
Ramdas, Why should we take 3 instead of maybe 1 or 2

Hi sarama001,

With referance to post 184

I asume you are talking combination of about three SMA at third arrow in your chart.

SMA5 is like line chart and it is just used as line chart.

sma50 and sma150 are important here.

What is situation at third arrow when price has gone above sma150 and SMA50 and touch down SMA50 where we see UP pattern formation ?

here we see clear indication as Now price want to go up and touch sma300 to sma600. where we have to exit.

here suporting point's are price is above 150 and we have potential till sma300/sma600. or till reversal patern formation.

and with further price action you can see price has taken pause at sma600.

Now regarding second Down arrow

do you see Fall pattern formation here ?

price has touch sma150 and fall back below sma50.

but did not fall below just nearest low.

good fall pattern is when price fall below sma50 and then fall further below nearest low, and then again retrach and touch sma50. which has not happen. in this case.

Now regarding your first UP arrow.

here price has gone above sma50. then touch down sma50

But do you see any potential here...since nearest sma150 is just 8 to 10 pips away ? so this buy point has less potential. so avoide.

These are my comment's

Best Regards

Ramdas

 
sarama001:
Also, how would you have traded this, GBPJPY and why?

Hi sarama001,

Your referance post 185.

Regarding GBP/JPY. Today is asume to be choppy day for GBP/JPY since tommorow JPY rate decission is awaited.

But if we look at chart. then when price has rejected from sma600 and again gone up. above sma50. then it is surly buy spot when price has again touch sma50.

But looking at tommorow event it is better to avoide such currency since profit booking is expected before event and during such period price becomes choppy.

Best Regards

Ramdas

 
ramdas:
Hi sarama001,

Your referance post 185.

Regarding GBP/JPY. Today is asume to be choppy day for GBP/JPY since tommorow JPY rate decission is awaited.

But if we look at chart. then when price has rejected from sma600 and again gone up. above sma50. then it is surly buy spot when price has again touch sma50.

But looking at tommorow event it is better to avoide such currency since profit booking is expected before event and during such period price becomes choppy.

Best Regards

Ramdas

Hi sarama001,

with continuation of your referance post 185.

I have attached today's GBP/JPY chart

I have shown two chart of same currency.left hand side is how chart looks like when UP pattern is under formation and where we have to buy.

right hand side is after fact..and how it looks like after movement has happen.

Just look at chart before fact (left hand side) , we can see price has rebound from sma150 and gone above sma50, and again touch sma50 & sma150 spot. this suggest as price has intention to go UP.

On right hand side chart i have also put Picture of UP pattern.

you can see How price has gone up.

Best Regards

Ramdas

Files:
gbp_jpy_02.gif  62 kb
 

Price action

Hi Ramdas,

I really enjoy your words about price action.

Please continue explaining this, how price movements work and how to get the best probability. The charts in combination with your explanation are great.

I would like to understand more about the expected price UP or DOWN action. It's not that obvious to me yet....

Thank you very much.

 

USD/JPY UP pattern formation.

Hello everyone,

USD/JPY UP pattern formation.

Attached chart shows Current UP Pattern form. We can see How price has gone above sma15, sma300 and again touch SMA50.

Arrow mark is Buy spot at 121.20. SL is just 10 pips below this spot.and first lot exit is at yesterday's Top. and other lot exit till reversal pattern formation.

Best Regards

Ramdas

Files:
usd_jpy_up_signal.gif  28 kb
 

USD/JPY UP pattern formation. Continuation, Exit

ramdas:
Hello everyone,

USD/JPY UP pattern formation.

Attached chart shows Current UP Pattern form. We can see How price has gone above sma15, sma300 and again touch SMA50.

Arrow mark is Buy spot at 121.20. SL is just 10 pips below this spot.and first lot exit is at yesterday's Top. and other lot exit till reversal pattern formation.

Best Regards

Ramdas

Hello everyone,

USD/JPY UP pattern formation. Continuation, EXIT

As you can see in attached chart. price has gone above atlest 7 pips, But No further follow-up is seen,

At initial stage price has cross initial Resistance of sma300 which is at top,

Also we see price has done severial attempt to cross above sma300.

But With lack of further strength, we see up movement is getting weak.

Do not wait for Stop loss to hit. it is better to exit at entry point or at breakeven if possible. with Spread loss.

Do not tade with Hopes.. or Ego.

Market always gives next chance ..so it is better to wait for next chance.

Best Regards

Ramdas

Files:
usd_jpy_up_signal_02.gif  26 kb
 

Good article on moving average

Hello Everyone,

Here is good article on Simple Moving Average.

http://www.investopedia.com/articles/forex/06/movingaverageexplosion.asp

Best Regards

Ramdas

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