XO_Method REVISED - page 56
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I left my stop @ 1.9582 as per my Post #548.
Price now @ 1.9540 which gives me a total of +49 overnight and a total of +138 pips on this half of my lots traded yesterday morning.
According to my charts, we are in for another short ride, maybe towards 1.9466 which is the 78,6% Fib level. Moved Stop to lock-in +100 pips @ 1.9571 which is a stop of -31 pips.
Best wishes.Well I was obviously not reading the charts right.
I went long for -2, and then long again for -30.
I am short now at 1.9516 and will be trailing my stop. Maybe I can make some of this back. Lets see what the market gives me.
James
edit >> the market gave me -22.
not a good day. Tomorrow will be better.
This morning's first entry..................
Need no explanation I guess, James?
I guess it does: The reason for entering @ 08h35 candle close, is that previously the price kept on bumping its head against the 180-EMA, so one had to wait for the 180-EMA to be broken. (+16 pips)
2nd entry AFTER the news event.............
The best was to have waited for the announcement before taking any positions due to the exhausted situation on the Longer TFs (H1 and H4).
Entry @ 1.9540 and still Long.
Need no explanation I guess, James? I guess it does: The reason for entering @ 08h35 candle close, is that previously the price kept on bumping its head against the 180-EMA, so one had to wait for the 180-EMA to be broken. (+16 pips)
I guess the only explanation I need is how you managed to exit with +16.
I entered just a bit before you and trailed my stop and ended up at -2.
As you can see I entered before the break of the MA, and it was a little nerve wracking.
My entry and exit are marked with the vertical red lines.
James
That news was coming from a mile off. I don't know why, but the action before the news this morning (930 UK time) told me that it was a setup for going short. I already banked on the long despite ValeoFX's stoploss and then went short against the techs which I try to never do because it it unwise generally. I am very pleased so far with my results and will try to improve my contribution as per my results. What does surprise me is the continuation of the long after the newstime spike. I've been out of the market apart from a tiny short.
My retrace long. I have to admit, I scale down my trades often in the afternoon. Here is the long I just took. It was quite agonising to wait out the resistance and I was very tempted to close with 6 pips several times, but I held out.
Looks as though my RSI's have reset though. It was not a perfect setup, I had to risk on the RSI H1 breaking through for me, but a great trade is a great trade. My main "thing to watch" right now is the potential of a long trade even when the CCI turbo on H4 has been showing overheated and CCI is still below zero.
May luck be always on your side.
I guess the only explanation I need is how you managed to exit with +16.
I entered just a bit before you and trailed my stop and ended up at -2.
As you can see I entered before the break of the MA, and it was a little nerve wracking.
My entry and exit are marked with the vertical red lines.
JamesSecond entry one candle too late. Keep a hawk's-eye on the RSi-crossings in cases like these. The H1-RSi had crossed!! The RSis overrule the EMA imho, but when the 15-EMA is too close to the price, I will wait.
Best wishes.
My retrace long. I have to admit, I scale down my trades often in the afternoon. Here is the long I just took. It was quite agonising to wait out the resistance and I was very tempted to close with 6 pips several times, but I held out.
Looks as though my RSI's have reset though. It was not a perfect setup, I had to risk on the RSI H1 breaking through for me, but a great trade is a great trade. My main "thing to watch" right now is the potential of a long trade even when the CCI turbo on H4 has been showing overheated and CCI is still below zero.
May luck be always on your side.Excellent entry, Suk. One candle better than mine as I waited for the EMA to be broken. Watch for an e-mail from me later today.
Best wishes.
This morning's entry..................
Need this entry be explained?
Perfect example of when the CCi-5 overheats and come back to "re-load" - notice how the price closed BELOW the 8-EMA upon entry. My stop was @ 78 (-11 pips) and stayed 4 pips above the Orange-EMA.
Banked +50 on the overheating 09h00 candle. Check H1-chart for confirmation.
Good trading to all.
Second entry one candle too late. Keep a hawk's-eye on the RSi-crossings in cases like these. The H1-RSi had crossed!! The RSis overrule the EMA imho, but when the 15-EMA is too close to the price, I will wait. Best wishes.
I'm confused. What you are calling my 'Second Entry' is actually my exit. I had trailed the stop at the 15MA - spread.
Are you saying I should have exited when the 5m RSI crossed down? One or two candles before my exit?
Or when the 1hr RSI crossed down 1 candle before my exit?