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 --- A GOPHER-LIKE INTERFACE FOR HIVE BLOCKCHAIN ---

Forex Technical Analysis 24S18

BY: @stepanh | CREATED: June 17, 2018, 6:38 p.m. | VOTES: 3 | PAYOUT: $0.15 | [ VOTE ]

The strategy is simple: I am selling/buying bounces from trendlines (not all trendlines some are there to determine a position for a take-profit).

#USDWTI

[IMAGE: https://cdn.steemitimages.com/DQmc8BQp6vbgeZwXQns6a9ZG8PvzNtVctco1gFcmWt4rKMc/Screen%20Shot%202018-06-17%20at%206.26.25%20PM.png]

#EURCAD

[IMAGE: https://cdn.steemitimages.com/DQma2rimjonfgYWA7qJyraRf2wJxZJtXkCYC1f66oE1BNwK/Screen%20Shot%202018-06-17%20at%206.54.29%20PM.png]
Red trendline looks sellitelně but not nice because of those false breakouts.

#GBPCAD

[IMAGE: https://cdn.steemitimages.com/DQmcLdkJHLC9MNT8ZwWXXaDVTfC87UjUHAtmy9XFcQgSQZu/Screen%20Shot%202018-06-17%20at%207.12.42%20PM.png]
I have already placed a sell-limit for the red trendline.

#GBPHKD

[IMAGE: https://cdn.steemitimages.com/DQmUMqwYNfbkuvVYjMScSoXwme4rJLoSn41izUhnxcVYAp6/Screen%20Shot%202018-06-17%20at%207.15.28%20PM.png]
I buy-limited the red trendline. Looks really nice. I think GBP oversold because of this  👇 'U' shaped chart.

#GBPJPY

[IMAGE: https://cdn.steemitimages.com/DQmb3kQdokSruh2jR6T3Kjr4D142W6y9uytuWdxvKnmP2ui/Screen%20Shot%202018-06-17%20at%207.19.26%20PM.png]

#GBPUSD

[IMAGE: https://cdn.steemitimages.com/DQmXCNfQxccNiL1Zp8jB81GWKVUQsnBQFm1vm2V4rzSfMxY/Screen%20Shot%202018-06-17%20at%207.45.40%20PM.png]
Looks similar to GBPHKD but not so nice.

#GBPZAR

[IMAGE: https://cdn.steemitimages.com/DQmYHAguuuknu5z7nS1TJ5aWdAXLQZTPZ6wefWLFatHbFfD/Screen%20Shot%202018-06-17%20at%207.47.01%20PM.png]
I want to sell stop. But ZAR usually too volatile.

#USDJPY

[IMAGE: https://cdn.steemitimages.com/DQmSeCYd2b8SF7hWqGgXUFJB4vrTF82c3V9D8DXjNY98zir/Screen%20Shot%202018-06-17%20at%207.57.29%20PM.png]
I like this because of this pink trendline from log. scale:
[IMAGE: https://cdn.steemitimages.com/DQmRkcjadH2tF27BeWVW95VmCWp4VPLkzYPhfwUQ5TfLxyG/Screen%20Shot%202018-06-17%20at%207.58.42%20PM.png]

#USDRUB

[IMAGE: https://cdn.steemitimages.com/DQmchWn8zdLoUjnwtjvVwTPaGMfb5KjMdPCfzdCMKQrq37e/Screen%20Shot%202018-06-17%20at%208.01.21%20PM.png]
I think USDRUB too high but too volatile too.

#USDZAR

[IMAGE: https://cdn.steemitimages.com/DQmR1en6tUNU5mLLkPkDfZrkrnZm4mceeWBzVPMTs9J3ZpD/Screen%20Shot%202018-06-17%20at%208.03.44%20PM.png]
I already placed a sell-limit

#XAGUSD

[IMAGE: https://cdn.steemitimages.com/DQmbdhMo19UcnFuqdnf2Lx7G6oymgVgwmjWy2bRs4WiyurK/Screen%20Shot%202018-06-17%20at%208.05.27%20PM.png]
I am going to buy a ton of silver when it approaches the bottom trendline.

Calendar

[IMAGE: https://cdn.steemitimages.com/DQmZ2A3vAnn3VzBvr6SGSGmztGcnX8YTZALzf5KusZ7AdJp/Screen%20Shot%202018-06-17%20at%206.05.37%20PM.png]
Thu:
[IMAGE: https://cdn.steemitimages.com/DQma5rSpHz8c1k6XeXy6tzKPvNU4NXLUdyeNGyLJcQYaHhf/Screen%20Shot%202018-06-17%20at%206.06.40%20PM.png]
[IMAGE: https://cdn.steemitimages.com/DQmfRwZuKZoLxx1wL7Rjzap7qs4f3SYz8ScfcH5eiuW9BCp/Screen%20Shot%202018-06-17%20at%206.13.21%20PM.png]

Conclusion

So many trades on GBP can I get some help with choosing the right one in the comment section below?

Risk disclosure​: Not a trading advice.
Sources: tradingview.com, systematic thinking

TAGS: [ #forex ] [ #trading ] [ #investing ] [ #technicalanalysis ] [ #technical-analysis ]

Replies

@lifestonetrading | June 20, 2018, 4:24 p.m. | Votes: 1 | [ VOTE ]

I notice you aren't confirming your trend lines. Are you checking for volume on your reversals? Are you checking for type 1 or type 2 closes?

@stepanh | June 21, 2018, 8:22 a.m. | Votes: 0 | [ VOTE ]

Yes I am checking for volume (check out my Instagram where I have one or two posts about how I use volume). But I don't have volume on tradingview's weekly chart that's why it isn't here... But for sure volume is crucial for my decision when to open a position.

What are type 1,2 closes I never heard of that?

@lifestonetrading | July 3, 2018, 6:43 p.m. | Votes: 0 | [ VOTE ]

Type 1 close is when the candle closes the wick on the trendline. Type 2 close is when the candle body closes on the trendline.

This means that there was a big limit order that got filled. Usually, institutions will set multiple limit orders so you might see a spike in volume (orders being filled) which confirms that there was in fact activity.

Type 3 closes are closes that either break through the wick or body. I don't enter if I see this type of close.

@steemitboard | Jan. 19, 2019, 2:44 p.m. | Votes: 0 | [ VOTE ]

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@steemitboard | Jan. 19, 2020, 3:16 p.m. | Votes: 0 | [ VOTE ]

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