GBP/AUD Short Position!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe - 1 Day
Actions on -
A – Activating Event
Currency Pair creating a Double Top . Currency pair will move south to the @1.759 level.
B – Beliefs
Market will be rejected at @1.774 level and move towards the first Target 1 level @ 1.759 level.
FX:GBPAUD
Trade Management
Entered @ 1.774
Stop Loss @ 1.784
Target 1 @1.759
Risk/Reward @ 2:1
Happy trading. Will let you know closer to the time if or when executed:)
Follow your Trading plan, remain disciplined and keep learning !!
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Thank you for your support :)
This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Method
Elements of a Successful Trading Plan 106SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Elements of a Successful Trading Plan 106
The last Element that i will explain is Trading edge.
6. Trading Edge
The season, in which the currency will exchange, it is beneficial to hold the exchanging edge
down to maybe a couple setups when beginning. The more systems one plans to ace, the more
troublesome it will progress toward becoming reliably profitable in the market. The following
are the points of interest of exchanging edge:
• Early Range Breakouts
• High Volume
• Tight Spreads
• Combination preceding the breakout
Follow your Trading plan, remained disciplined and keep learning !!
Please Follow, Like,Comment & Follow
Thank you for your support :)
This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Update previous TA, still the same just bigger OK, so i made a mistake in last TA, but more importantly i may have made another discovery on how to predict the size of the next phase compared to that previous of it, i will look in to it further before i make more of a fool of myself by publishing it. But i think my mistake on the last TA is that the right green phase 3 shpould be 3 third bigger than the left phase, so i have adjusted my chart to reflect BTCUSD
AS my methodof TA is being made up by myself and is multi interval TA, meaning that a mistake in an interval higher will make everything under that incorrect. So i will have to be very careful on higher time intervals.
Also, letts see if the shape of interval 2's second part is the same shape resistance line as the whole of green phase 3 s when action is live (can always make something fit if looking back on it so want to see if it plays out in live mode)
SHORTING APPLE TO $75?The idea of shorting apple came from MikeSer in our conference call when I mentioned the huge gap between $80 to $76.
My real target for short is 82 (Fib 34) - but why not make it pass the gap and go to $75 :)
That will make the total down turn -44.25%, which is more inline with the other apple pull back.
So short Apple at 92 - with target at 82.5 and 75.5?
Long above 98.25?
But my bias is SHORT because the Elliot wave looks like 3-3-5 (with the perfectly developing alternating wave 2 and 4)
This chart is created with HPTZ methods from Triggers.ca
(my appreciation to Andrew Long who created the HPTZ method)
Good method for trading BTCUSD on neutral and long positionsHi to everyone!
I would like to share to you an excellent method for trading BTCUSD on neutral and long positions.
I use a MA30 (moving average of 30 periods) + Elder's Bull and Bear Power indicators on H4 or D.
Buy process: When MA30 changes trend from downtrend to uptrend + candlestick is over the MA30 + both indicators are above 0 level = BUY
Sell process / Short operation: When MA30 changes trend from uptrend to downtrend + candlestick is below the MA30 + both indicators are below 0 level = SELL/SHORT
In the screenshot you have an example of buy but if you "make it yours" you will have all the backtesting with buy/sell. Enjoy it!
Already tested on BTCUSD on BTC-e and H4 and D from 2012 to today with excellent results and with LTCUSD with not good results.
Update 1: kakola has designed an indicator combining Elder's indicators with a crossover pastebin.com
Update 2: For BTC in daily works but you have to use also TA to close positions better. For LTC doesn't work properly... I will backtest more altcoins.
Update 3: NMC works very profitable also in H4.