On Leave
I am taking an indefinite leave. I hope to be back soon. I am improving my trading strategies all the time and refining my trading. So I should be back soon with a new imroved entry system for trading this strategy. Till then, happy pip hunting.
Its too bad that I havent been able to update my posts as regularly as I would have liked to.
I have been busy learning new trading methods to try and improve.
I will shortly begin my daily routine of posting charts and trading strategies.
Meanwhile I will also post some good linke where you can get terrific trading ideas and indicators if you are using Metatrader platform like me.
Heikin Ashi - Daily chart analysis!19/01
We have yet another day of choppy trading with no real direction. Yet its good news as we will soon be seeing the market moving sooner than later. With really important news releases today, This coule be the day.
Daily Chart :
Charts showing weakness and aroon indicator also showing lot of weakness. MACD sloping down and this could be signalling a short here. However I would still like to err on the side of caution and wait for the markets to show the direction before I put in the trade rather than be caught on the wrong foot.
We will look for a short at 1.7570 with a stop about 50pips and profit open.
On the long side we will look at 1.7725 with stop below 50pips and profit open.
Let the news decide the direction and then lets jump in. Its still a toss of a coin, but slightly favoured to go lower.
Heikin Ashi - daily chart and hourly chart analysis!18/01
I for one have never been too fond of indicators and have strived to minimise the paralysis by analysis. But I think a new view is not too bad an idea. I am presenting here a new chart with 2 indicators which are : 1) Donchian channel
2) Aroon indicator.
The channel is good to know where I can expect natural resistance or support and good profit taking areas. Aroon indicator is a good trend indicator and with heikin ashi gives me more reason to stay in the trend. Sometimes when I trade intraday, I happen to get a very good entry, with heikin ashi but the first sign of retracement, and I am ready to bail out, thereby missing out on a good move. So I hope that these 2 will help me stay in a trend and raise the overall profatibility of each day.
Yesterday was another day of indecision as the GBP is still in a sideways range move.
However this is exactly the days that we should be looking forward to as the explosion moves arise from these range bound markets. So we can expect a good large move to be coming anytime soon. Going by the charts, I think we are headed to the downside for quite some time now. Prices are going down after reaching the top of the channel and aroon indicator is showing weakness to. The time that Aroon crosses, we can push our positions as the bottom of the channel is about 450pips lower.
Intraday Chart :
Pretty much in a range still and we will try and pick small trends and bail out with a small profit.
Heikin Ashi - hourly chart analysis!17/01
We have had cable moving lower. Heikin Ashi still indicating a bull run. Intraday chart we might find support at 1.7638 and a break of that should take the cable lower. On the upside, 1.7688 is resistence and a break above that we should see prices trying to break 1.7800 which looks quite possible.
There is some news concerning the GBP today and we will see this move the markets.
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