First of all, I want to remind the top-and-bottom-pickers among us (that includes me) that trying to pick tops and bottoms is generally an exercise in futility that will leave you poorer and psychologically damaged. If you do it often, expect pain. LOTS OF IT. This idea is not meant to be trading advice, and if you blindly follow anything I say and lose money...
1) Weekly chart: downtrend; recent correction may have ended at Fib support
2) Daily chart: oscillator divergence.
3) 6-hour chart: bearish engulfing candle
I missed entering when the trade triggered; filled on the retracement back to the entry level
Entry: sell 10,000 @ 0.72122
Initial stop-loss: 0.72597
1st target: 0.71180 (buy 4,000)
2nd target: 0.70192...
1) Weekly chart: uptrend; possible end of correction at major Fib, symmetry and structure support
2) Daily chart: divergence with oscillator in oversold area
2) 6-hour chart: bullish harami candlestick formation at low
I missed entering when the trade triggered; now waiting for a retracement back to the entry price.
Entry: buy 16,000 @ 1.0353
Initial stop-loss:...
1) Daily chart: uptrend; recent correction bouncing off 50% retracement & symmetry support
2) 6-hour chart: oscillator divergence.
I missed entering when the trade triggered; now waiting for a retracement back to the entry price.
Entry: sell 16,000 @ 0.99378
Initial stop-loss: 0.99695
1st target: 0.98931 (buy 7,000)
2nd target: 0.97842(buy 5,000)
Trail stop...
1) Daily chart: uptrend; recent correction bouncing off symmetry support
2) 6-hour chart: oscillator divergence.
I missed entering when the trade triggered; now waiting for a retracement back to the entry price.
Entry: buy 15,000 @ 1.11049
Initial stop-loss: 1.10707
1st target: 1.13220 (sell 6,000)
2nd target: 1.14613 (sell 5,000)
Trail stop on remaining 4,000
1) Daily chart: uptrend; recent correction bouncing off Fib & structure support
2) 6-hour chart: oscillator divergence.
I missed entering when the trade triggered; now waiting for a retracement back to the entry price.
Entry: buy 17,000 @ 1.11363
Initial stop-loss: 1.11058
1st target: 1.13241 (sell 7,000)
2nd target: 1.14613 (sell 6,000)
Trail stop on remaining 4,000
1) Daily trend: down
2) 8-hour chart: price close to previous resistance; oscillator divergence creating a short setup.
3) Oscillator hook down, confirming short setup.
Short trade triggered as this was being written (missed first trigger; did not notice 1st target had already been achieved).
Entry: sell 17,000 @ 1.09373
Initial stop-loss: 1.09680
1st target:...
1) Daily trend: down
2) 8-hour chart: price close to significant resistance; oscillator divergence creating a short setup.
3) Oscillator divergence & hook down, confirming short setup.
Short trade triggered as this was being written.
Entry: sell 10,000 @ 0.70796
Initial stop-loss: 0.71292
1st target: 0.70311 (buy 4,000)
2nd target: 0.69443 (buy 3,000)
Trail...
1) Daily trend: down
2) 8-hour chart: price rejecting values above 61.8% retracement; oscillator divergence creating a short setup.
3) Oscillator divergence & hook down, confirming short setup.
I missed the entry when it triggered; price has retraced back above entry level, so I'll enter an order to sell at that level (unless prices break above the stop-loss...
1) Daily trend: downtrend established at the end of November, 2015; corrective rally since middle of December, 2015.
2) 8-hour chart: price in the area of potential MA resistance and 50% retracement & oscillator divergence creating a short setup.
3) Oscillator hook down from overbought zone.
I missed the entry when it triggered, and now I'm waiting for a...
1) Daily trend: down.
2) 8-hour chart: price has reached a former resistance area.
3) 2-hour chart: bearish harami signal candle following the high on 2016/01/22, as well as oscillator divergence.
Short entry trigger missed; will enter if price breaks below signal candle.
Entry: sell 13,000 @ 128.011
Initial stop-loss: 128.439
1st target: 126.195 (buy 6,000)...
1) Daily chart: downtrend beginning January 4, 2015.
2) 8-hour chart: price has reached a potential resistance area, with oscillator divergence confirming a short setup.
3) 2-hour chart: bearish harami candle at the high on 2016/01/20.
Short entry triggered as this was being written.
Entry: sell 16,000 @ 0.69241
Initial stop-loss: 0.69590
1st target: 0.68486...
1) Daily trend: downtrend beginning in the middle of December, 2015; consolidation since Jan. 7, 2016.
2) 8-hour chart: price has reached a potential resistance area, with oscillator divergence confirming a short setup.
3) 2-hour chart: bearish engulfing candle following the high on 2016/01/14
I missed the trigger, and now I'm waiting for price to break back...
1) Daily trend: downtrend established at the end of November, 2015; corrective rally since middle of December, 2015.
2) 8-hour chart: price has reached what appears to be the line in the sand for resistance, with oscillator divergence confirming a short setup. If price reaches new highs, it would be prudent to step aside; my current short bias would have to be...
I want to live test a simple methodology I developed that doesn't require any proprietary indicators or special programming, so any trader with limited capital is able to trade without spending hundreds or thousands on special charting programs. For testing purposes, the methodology is being traded in a $4500 account with FXCM's Trading Station platform. Maximum...
On the 8-hour chart, there is a huge gap between the 17:00 close on 8/25 and the open of the 01:00 bar on 8/26; but there is no such gap on the 2-hour chart.
Why?
