"Stolid" manual trading system by Suirad - page 10
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EUR/USD respecting downtrend channel
Ok, this is how we did it, we drew that pink trend line last week, doubled it and plotted near last low. After that, found possible support at psychological level at 1.4000. Opened some Longs where these factors matched. TP1 - at most recent resistance for +30 pips. Closed other half for +110 of doubts about Greek debt crisis.
USD/JPY broke upward channel; Continues downtrend
Finally USD/JPY retraces a bit, broke upward channel. This is a sign for bearish trend continuation. The fact that Fitch reduced Japan's ratings to negative did not weak Yen. We have one Short order left @ 82.20 running for maximum profit.
GBP/USD Long trading at support 1.6300
Long term trend - Bullish. After price broke resistance, nowadays came back and made 1.6300 as support. Longs @ 1.6305. Closed 1/3 for +50 pips and 1/3 for +110 pips. 1/3 running for maximum profit, will trail it with swings.
USD/CAD Sell signal at trend line
would try to open some Shorts around trend line ~0.9850.
NZD/USD respecting upward trend line
precisely respecting upward trend line, Longs at trend line or if price breaks trend line, Longs at major support zone 0.7970-90.
Hi Suriad,
firstly thank you for taking the time over the previous months to keep showing your methods. I personally am finding value as i'm trying to refine my Price Action skills.
Im specifically trying to focus on drawing the right trendlines and so far yours are proving quite helpful!
Can i ask the Moving Average on the RSI, is that a custom indicator? if so, is it publically available? I've tried to add an MA to an RSI window in MT4 but its only attaching to the main chart
Regards,
Hi Suriad,
firstly thank you for taking the time over the previous months to keep showing your methods. I personally am finding value as i'm trying to refine my Price Action skills.
Im specifically trying to focus on drawing the right trendlines and so far yours are proving quite helpful!
Can i ask the Moving Average on the RSI, is that a custom indicator? if so, is it publically available? I've tried to add an MA to an RSI window in MT4 but its only attaching to the main chart
Regards,Hi, zeenix,
Thank for good words. No, it is default indicators. Try to drag MA to RSI window in MT4 and choose "apply to" First indicator's data in Parameters tab. Hope this helps.
Best regards.
GBP/USD technical update; Respecting channel
GBP/USD ranges in bullish channel. Strong support zone at 1.6300; resistance - 1.6515. Holding position for maximum profit. SL below recent low / channel lower trend line.
Hi, zeenix,
Thank for good words. No, it is default indicators. Try to drag MA to RSI window in MT4 and choose "apply to" First indicator's data in Parameters tab. Hope this helps.
Best regards.Hi Suriad,
thank you for that i got it working after while of clicking around
Can you tell me what the main reasons you use the MA on the RSI for? Im assuming secondary or tertiary confirmation of trend?
Regards,
Hi Suriad,
thank you for that i got it working after while of clicking around
Can you tell me what the main reasons you use the MA on the RSI for? Im assuming secondary or tertiary confirmation of trend?
Regards,Hi,
Yes, MA of RSI shows kind a trend of relative strength, depending on period of RSI. But as You can see, I no longer use MA on RSI. Gave more attention to price action etc.