Trading EUR/USD Daily Hi & Lo

Very impressive. Did you say you are long, what target do you have in mind. I'm still waiting for my daily macd to cross which is set at 12.26.9 in line with the weekly which has already crossed! Would you mind terribly in some technical guidance?
 
Thanks ammo. There are so many!!! Numerous good trade calls, where are his technicals, apart from the MACd, driving me insane this forex and I'm on nowhere near what he is staking, I can't bloody do it!!!!!!!!!!!
 
EUR/AUD 1.3610-1.3530

Now Short 1.3530 @ £4 per pip

Reverse order 1.3610 @ £8 per pip

Monthly chart is nearing an impulse wave, Daily histo showing price readiness for a move. It looks like a big move is brewing. That's EUR/Aussie, not USD.
 
Quote from JSSPMK:

EUR/AUD 1.3610-1.3530

Now Short 1.3530 @ £4 per pip

Reverse order 1.3610 @ £8 per pip

Monthly chart is nearing an impulse wave, Daily histo showing price readiness for a move. It looks like a big move is brewing. That's EUR/Aussie, not USD.
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-83 pips (-£332)

Now Long 1.3613 @ £8 per pip

Reverse order 1.3530 @ £16 per pip
 
Quote from targus:

Very impressive. Did you say you are long, what target do you have in mind. I'm still waiting for my daily macd to cross which is set at 12.26.9 in line with the weekly which has already crossed! Would you mind terribly in some technical guidance?
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Look at Eur/Aussie Dollar Daily chart's MACD Histogram, that pattern is meant to be a classic buy pattern paired with price either basing or diverging. In this method though I don't use this pattern as a directional indication, but a volatility/range expansion/impulse wave timing indication. Do you understand what I mean? I look at average range, recent range & potential range of expansion & set trading range accordingly ie entry/stop loss/reverse.
 
Thanks Jsspmk

Do I understand what you mean? Ahem, No. I struggle reversing the car straight. I would need a picture to get my head around what you are saying.

At the moment, I am long on eur/usd, as my macd has crossed on the weekly / 4hr and lines up nicely with the stochastics, not sure when to exit aside from when the stochs go overbought on the daily or the 4hr macd turns.
 
Just switch on EurAussie Daily chart & look at its histogram leading to current upside, that is classed as a buy pattern, but because most conventional TA offers 50/50 probabiliy I use that pattern as range expansion indication, doesn't matter up or down as long as I get sufficient range expansion. Losses are offset by increased positions after every loss. Yes, Martingale strategy is risky, I know that ;)
 
You keep asking about direction & I keep saying it's about range expansion, as when you get an impulse wave that means you are on the right side. This method of range breakouts paired with the Martingale strategy has worked so far because I pick Hi/Lo ranges near the time of an impulse wave. If I see a possibility of a 500 pip oscillation, then risking 100 pip range seems quite reasonable, as once price does breakout proper it rarely turns back to hit Daily Hi/Lo.
 
Quote from JSSPMK:

-83 pips (-£332)

Now Long 1.3613 @ £8 per pip

Reverse order 1.3530 @ £16 per pip
More...

-85 pips (-£724)

Now Short 1.3528 @ £16 per pip

Reverse order 1.3610 @ £32 per pip
 
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