StephenMcCreedy
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yes i think it would have been long from around 457 currently about 20 points in profit
ftse (and other) 20ema crossover and test
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We MUST follow those averages! Take a look at the 15M. It was positive from 0800.
Of course, it might be a false xover but nothing is risk free.
Be back tomorrow.
StephenMcCreedy
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yes also if you look at the hourly there was a dip below it and then this large rally. a little like the trade you tried to take off the 4h the other day
StephenMcCreedy
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i'd like to be able to design an indicator for my chart that pointed the moving average going forward, like a lazer if that makes any sense. it would give you a good feel and stop you betting against it a lot of the time. the gradient is important in respect for judging the pace of a move. so far i have had no chance to get in as no pull backs to the 20ema that i've seen and liked. good luck for today
I agree, there have been no pullbacks. I am flat, now, but believe the secret is in keeping losses small and not going bust! I could be in a PB now but it has not completed, yet. (5M chart)
Just a suggestion about your forward pointing indicator. Have you tried a trend line using a line of best fit through the bars. It is an arbitrary line, decided by your eyesight but averages, I feel, cannot work any better, being dependant on the closes of the bars, themselves, and you can't know what the future ones will be.
Just a suggestion about your forward pointing indicator. Have you tried a trend line using a line of best fit through the bars. It is an arbitrary line, decided by your eyesight but averages, I feel, cannot work any better, being dependant on the closes of the bars, themselves, and you can't know what the future ones will be.
StephenMcCreedy
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thanks i'll have a look. yes keeping losses small is the holy grail. i have written on my desk 'don't lose money, don't lose money, don't lose money'. aim number one is not to go bust, beyond this you start picking up profits and the account grows.
StephenMcCreedy
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personal choice i guess. my main reason to switch to the dow is that it can close automatically at 9pm where as if i trade the ftse i will have to close it out manually or run it overnight. my aim is not to trade after i get home. the more 'off' time i take the better my trading is and the less emotional i am.
the ftse is still above the trending 20ema on the hourly. trying to short it based on the 5 min as long as the hourly is pointing up seems a recipe for losses at the minute. a move to 5550 wouldn't surprise me and neither would a plunge on some bad date. i guy i follow is calling the usa lower today and his record is very good.
we'll see, i'm on the side lines.
the ftse is still above the trending 20ema on the hourly. trying to short it based on the 5 min as long as the hourly is pointing up seems a recipe for losses at the minute. a move to 5550 wouldn't surprise me and neither would a plunge on some bad date. i guy i follow is calling the usa lower today and his record is very good.
we'll see, i'm on the side lines.
StephenMcCreedy
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personal choice i guess. my main reason to switch to the dow is that it can close automatically at 9pm where as if i trade the ftse i will have to close it out manually or run it overnight. my aim is not to trade after i get home. the more 'off' time i take the better my trading is and the less emotional i am.
the ftse is still above the trending 20ema on the hourly. trying to short it based on the 5 min as long as the hourly is pointing up seems a recipe for losses at the minute. a move to 5550 wouldn't surprise me and neither would a plunge on some bad date. i guy i follow is calling the usa lower today and his record is very good.
we'll see, i'm on the side lines.
the ftse is still above the trending 20ema on the hourly. trying to short it based on the 5 min as long as the hourly is pointing up seems a recipe for losses at the minute. a move to 5550 wouldn't surprise me and neither would a plunge on some bad date. i guy i follow is calling the usa lower today and his record is very good.
we'll see, i'm on the side lines.
StephenMcCreedy
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looks like eur/usd 1 hour and 5 min 20 ema are around the same level and it's broken between both around 12700 on the spot. looks like a decent place for a short.
StephenMcCreedy
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StephenMcCreedy
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StephenMcCreedy
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...and a nice PIN bar indicating a short.
StephenMcCreedy
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yes not translating to much downward pressure as yet. need to scan for same set ups on longer term charts, 1h perhaps even 15min.
Futures have just gone very quiet into the European lunchtime, best action was in the first 2 or 3 hours today.
ps can you tell me what time that PIN bar occurred on your charts?
StephenMcCreedy
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10:50-10:55
i keep on saying i'll stop trading at 9am each morning, i only aim for 10 points a day and often by then you should have them bagged
i keep on saying i'll stop trading at 9am each morning, i only aim for 10 points a day and often by then you should have them bagged
Interesting, there was a PIN on the Eurostoxx futures at that time. I don't know how good the correlation is with EURUSD but might be something that's worth looking at.
StephenMcCreedy
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