20 March 2008

How to adjust Regression Channel to price movements

Hello my friends,

Because today was a weak day for trading I would like to show you how you can adjust Regression Channels according to price movements. This can be done when price gets out of channel but doesn't move anywhere, and it's ranging. So, we can adjust Regression Channel to see when price breaks out :)

I made this video for you to see how can be done:

Now we can see where price can go or where it finds support and jump.

Good luck catching the signals and happy pippin' !

19 March 2008

USD/JPY - SELL @ 99.03 - 2 lots x 10 pips PROFIT

Hello friends,

Today was a great day for trading forex, specially after yesterday's rate cut from Fed.

So here is the chart:

So the things were like this:
- 2 EMA's crossed at 4.00AM GMT
- Price breaks RegChan at 4.30AM GMT
- MACD turned down at 8.00AM GMT
- W%R was above -80 level also at 8.00AM GMT
- price was under the 2 EMAs

Perfect entry: SELL with 2 lots at 99.03
Time of trade: 5 minutes
Profit: 2 lots x 10 pips/lot = 20 pips x $10/pip = $200

Another beautiful trading day in Forex :)

Happy PIPpin day !

18 March 2008

GBP/USD @ 2.0044 BUY Failed because pattern

Hello friends,

I expected things to happen after 6-7AM GMT and at 8.00AM GMT GBP/USD made a move.

In the following lines I will explain how some candle patterns help us to stay away from getting fried.

First here is the chart of the movement:

At 7.00AM GMT a signal was created and entry was almost perfect at that time. 2 EMAs crossed, MACD was up, price broke the RegChan, W%R retraced...but too much. And more, the price formed a candle pattern that is well known as a Graveyard Stone and it means there is a possibility for the price to reverse (but at this stage it can't reverse too much) so this is the best time to wait for W%R to cross RSI again UP but bellow -20.

If you were to wait a little you would save 10 pips (from stop loss) and catch a better smoother move. I rather prefer to pay attention to this kind of stuff than to be stressed because price went against me. I don't even think the price breaks my rules as long as I respect them

I places "Check" symbols where you had the chance to enter again without problems and take 10 pips for sure.

So, I think this lesson teach many people that patterns can be taken into consideration in many different situations, time frames or pairs.

See you tomorrow !