I just entered a trade on the NZDUSD short based on a bounce off of the daily TL.
Here’s the chart:
Click to enlarge
The dark purple line above price is the Daily TL and the thinner purple line below price is the 800sma on the 1h chart, I’m ignoring that completely for a longer term trade.
First PT is .71, SL at .7260 but if today’s daily candle closes w/ a signal to short, I’ll be changing my strategy to a much longer term trade.
Triffany Hammond helps traders of all levels, gain the tools, resources and guidance necessary to build on their strengths and work around their weaknesses so that they can make the best possible decisions for themselves in the Forex Market. Triffany is a regular speaker and contributor at FXStreet.com and heads "The Human Element" a blog dedicated to trading psychology at ForexMotion.com Want to know more? She was recently profiled in "FXStreet.com's Women in Forex" Series.
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(Apologies Triffany, just posting this up again so maybe someone will see it)
This is a general post … I am having trouble pushing myself to do some testing, if anyone would be interested in joining me for a 2-3 week run of some serious gun slinging testing maybe more ( … errm more testing that is ). I am testing the 15min GBPJPY – I use trend lines, fibs with a twist and moving averages. If you want to test anything between the 5min-1HR (as that would give us roughly the same set ups) on any system you like. We start at the same time and keep each other updated every 2-3 days as to how far we got to make sure we do it … send me an email to aby@abydavid.com … (we can be in touch via email, phone, skype whatever … its on me) … please forward me a picture of your most recent pet.