Best Thread Live Trading and General Chat Lounge

tough chop period.....is Dow retracing North ?

if so will get on falling USD.....still struggling to determine the best buy currency though.....Lottery !

N
 
It looks like bounce time. Has fallen today over 100 pips already.

Trying to get in near the top of the bounce, looking for a further move down later on or tomorrow.
 

Attachments

  • EJ support resistance.png
    EJ support resistance.png
    54.7 KB · Views: 111
Last edited:
perspective.
 

Attachments

  • looks better like this.png
    looks better like this.png
    54.6 KB · Views: 102
tough chop period.....is Dow retracing North ?

if so will get on falling USD.....still struggling to determine the best buy currency though.....Lottery !

N


slow haul down for USD and unconvincing so far.....:sleep:
 
Look at eurusd 1H chart. Exactly where it was 24 hours ago. This morning's data took out stops on both sides of the market then it settled back where it was like nothing happened.
 

Attachments

  • eurusd01.gif
    eurusd01.gif
    14.5 KB · Views: 85
I guess intraday market has been for months most of the time choppy/ranging. Would it be a good idea to try to catch extremes with some sort of Bollinger bands - sort of revert to the mean system?

Are there any members familiar with or using this style of trading?
 
Bollinger band range trading is good for this type of market. Wait for the price to close outside the BB and RSI above/below the extremes. Entry would be a candle closing back inside the bands. You can mix and match parameters a bit but you should get a few decent short term trades. 2 trades this morning both would have shown a nice profit.

WARNING though, this will cause serious havoc in a trending market.

Peter
 

Attachments

  • eurusd02.gif
    eurusd02.gif
    18 KB · Views: 95
Top