Forex Trading With Simple Setup - page 3

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newt:
i'll follow this thread tomorrow

Hello newt,

You are wellcome to thread.

Pl feel free to post observations/comments.

My effort is to share what i learn. it is great to learn from each other...that help everyone.

Best Regards

Ramdas

 

GBP/USD Chart.

Hello everyone,

Here is GBP/USD Chart. look at circle mark area . Bottom ellips is UP patern formation. and look at top mark where price has touch sma2400

This is Resistance spot. You can observe what happens at this resistance spot.

Best Regards

Ramdas

Files:
gbp_usd_11.gif  18 kb
 

Screen snap of my setup.

Hello everyone,

I have attached screen shoot of my setup.

Pl refer post 1 for parameter of each SMA.

This way you can monitor 6pairs at one glance for pattern formation

The reason I am not looking at Candle. is i only look at price patern and SMA Resistance/support

Best Regards

Ramdas

Files:
setup_02.gif  65 kb
 

can you post the rules?

what timeframe?

what pair?

etc

thxs

 

GBP/USD Chart

ramdas:
Hello everyone,

Here is GBP/USD Chart. look at circle mark area . Bottom ellips is UP patern formation. and look at top mark where price has touch sma2400

This is Resistance spot. You can observe what happens at this resistance spot.

Best Regards

Ramdas

I have attached continuation chart

sma2400 resistance is taken out easly...if you are long at spot where up patern has form then and exit at sma2400 touch then you can go long again above sma2400 and follow daily resistance..also there are some spot like figure 50 figure 80, 00 where price can face resistance. this figures are simple price Dynamic where normally profit booking expected.

other care has to be take at sma2400 touch is ..wait for price action before seling at this spot. and one has to consider how much currency has move.. typicaly gbpusd can move 160 to 180 pips. and can extend up to 220pips ..and if you are short at sma2400 then one has to exit trade if it moves 10 to 15 pips against you. don't trade with ego..you can get BAD hit.. Market gives you lot of chances... wait for good chance. to avoide drawdown.

Best Regards

Ramdas

Files:
gbp_usd_12.gif  15 kb
 

up pattern formation

ramdas:
I have attached continuation chart

sma2400 resistance is taken out easly...if you are long at spot where up patern has form then and exit at sma2400 touch then you can go long again above sma2400 and follow daily resistance..also there are some spot like figure 50 figure 80, 00 where price can face resistance. this figures are simple price Dynamic where normally profit booking expected.

other care has to be take at sma2400 touch is ..wait for price action before seling at this spot. and one has to consider how much currency has move.. typicaly gbpusd can move 160 to 180 pips. and can extend up to 220pips ..and if you are short at sma2400 then one has to exit trade if it moves 10 to 15 pips against you. don't trade with ego..you can get BAD hit.. Market gives you lot of chances... wait for good chance. to avoide drawdown.

Best Regards

Ramdas

Hi ramdas,

Thanx for charing with us ur system, i have a q regarding the 12/19/06 trade where u mention an up patt formatio, Do u defined it based on candlesticks behavior or do u defined it based on sma crosses ??

Thx 4 ur attetion

 
GUSDINSALVOFOREX:
Hi ramdas,

Thanx for charing with us ur system, i have a q regarding the 12/19/06 trade where u mention an up patt formatio, Do u defined it based on candlesticks behavior or do u defined it based on sma crosses ??

Thx 4 ur attetion

Hello GUSDINSALVOFOREX,

if you observe my chart you will see there is no candle stick displayed. chart is compress in such a way on 5min chart as only i see as bars.

if you look at candles then you will notice price form green candle and then suddenly red candle wonder what happen ? initialy i has lost many$ on this candle behaviour. on this setup if you look at candles then you will fear to short at top of green candle and fear to buy at bottom of red candle. that is what candle color influance your trade decision.

just think why other trader buy at bottom of Red candle. what they are looking at ??..

i do not look at sma crosses. i already tried many crosses stratergy and got bad hit due to late entry. i use sma as support and resistance and observe price pattern. but you can look at direction of SMA that is important.

if you find some good sma cross logic of behaviour on this setup pl feel free to share it.. we all can learn.

Best Regards

Ramdas

 

price patterns

ramdas:
Hello GUSDINSALVOFOREX,

if you observe my chart you will see there is no candle stick displayed. chart is compress in such a way on 5min chart as only i see as bars.

if you look at candles then you will notice price form green candle and then suddenly red candle wonder what happen ? initialy i has lost many$ on this candle behaviour. on this setup if you look at candles then you will fear to short at top of green candle and fear to buy at bottom of red candle. that is what candle color influance your trade decision.

just think why other trader buy at bottom of Red candle. what they are looking at ??..

i do not look at sma crosses. i already tried many crosses stratergy and got bad hit due to late entry. i use sma as support and resistance and observe price pattern. but you can look at direction of SMA that is important.

if you find some good sma cross logic of behaviour on this setup pl feel free to share it.. we all can learn.

Best Regards

Ramdas

hi ramdas

i was looking for plain entry signals from the beginning of this thread

i guess you are much wiser - 'no crosses'

i'll observe price patterns around sma

hopefully will get the picture

cheers

 

GBP/USD Uptrend formation chart pattern.

azman818:
hi ramdas

i was looking for plain entry signals from the beginning of this thread

i guess you are much wiser - 'no crosses'

i'll observe price patterns around sma

hopefully will get the picture

cheers

Dear azman818,

Wellcome to thread.

I am not much against cross, Instead with this setup one get best entry point looking at price pattern. crosses are form after price movement, and then we enter and get late entry and till that time price has already move 40pips and other smart trader start booking profit who has already enter at begining of movement.

I am attaching two chart of GBP/USD i have also pasted up trend pattern on both chart. on first chart i have hide up movement and only begining of up trend pattern is visible. check yourself is this is a Up trend forming pattern ? is the currency forming up pattern ?

in second chart check once again is this is correct.

Best Regards

Ramdas

Files:
gbp_usd_14.gif  35 kb
gbp_usd_13.gif  34 kb
 

EUR/USD Uptrend formation chart pattern.

Hello everyone,

Here is EUR/USD Uptrend formation chart , i have attached pattern on chart.

I am posting these chart to show how patterns are form and which is the best entry point.

Best Regards

Ramdas

Files:
eur_usd.gif  33 kb
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