Clovis Fish
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Indeed a useful backdrop against which to capitalise on the Draghi Droop.
Best Thread The 3 Duck's Trading System
- Thread starter Captain Currency
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I'm short on both eurusd and eurjpy, thanks for sharing.
peeterwoolf
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Thanks Captain, good analysis. In my 3 duck's chart, I also pick up eurusd and eurjpy.
Hi Andy,
Thank you for the time you have spent developing this system and sharing it with others.
One thing you might help me with....
Are we looking for the 5 min to break the 60 SMA and then hit a new low/high or should it just be below/above the MA and hit a new low/high ?
I realise there isn't a big difference but I am just wondering if a recent break is a stronger or weaker signal that we are going to have a bigger more sustained move in your opinion.
I hope I am making myself somewhat clear !
Thanks again
Rob
Thank you for the time you have spent developing this system and sharing it with others.
One thing you might help me with....
Are we looking for the 5 min to break the 60 SMA and then hit a new low/high or should it just be below/above the MA and hit a new low/high ?
I realise there isn't a big difference but I am just wondering if a recent break is a stronger or weaker signal that we are going to have a bigger more sustained move in your opinion.
I hope I am making myself somewhat clear !
Thanks again
Rob
You are right, aussie dollar looks good.
Nice one!
Ya - but unfortunately both are very nearly stopped out
Saying that I think they were both good trades to take on going by the charts.
The AUDUSD trade
The 30 point SL was below an earlier point of support on the 1 hour chart.
And the 30 pip TP was just below a recent high (which i figured it may bounce off).
So given that there was quite an uptrend with this - and that the entry was close to the 1 hour sma i figured this was a high probability trade given it has an ATR of 55 a day.
The EURGBP Trade
The 20:30 SL:TP for EURGBP was just a random one in the hope that i was trading in the direction of the trend. (Although the SL was just outside a recent high on the hour chart)
Saying that - i was never fully confident on this trade as i thought it could be due a retracement after last weeks fall. So i considered not taking it.
But i then had a voice in my head saying "never try to pick a bottom" - so I took it !!
I risked 2% on each of the above trades. Maybe as a compromise i should have only risked 1% for the EURGBP one.
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Captain Currency
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As clear as mud Rob ...
Have a read of page 8 of the free 3 Ducks eBook, catching the early part or start of these moves can be much more profitable for you.
Good trading to you for the week ahead,
Andy
Captain Currency
princepawn
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> 1.35635 will line up the third duck?
I read the document, but another new live example never hurts. In this image we see the H4 and H1 charts showing LONG trend. the M5 chart needs to break 1.35635 before we enter this trade, per the description of how to find the high, correct?
I read the document, but another new live example never hurts. In this image we see the H4 and H1 charts showing LONG trend. the M5 chart needs to break 1.35635 before we enter this trade, per the description of how to find the high, correct?
I read the document, but another new live example never hurts. In this image we see the H4 and H1 charts showing LONG trend. the M5 chart needs to break 1.35635 before we enter this trade, per the description of how to find the high, correct?
Hey
I cant open your chart - so not sure what pair you are on about.
But the only pair i see around that price is EURUSD.
But that is pointing downwards on tehb 4 hour - not long.
WHat pair are you referring to#?
Ok - i just checked the chart - and i assume you meant SHORT on the EURUSD.
Yes - technically you could go in at that level.
However - if you zoom out on the daily chart / 4 hour chart you will see that there is already a very round number support point at 1.3500.
So with my limited knowledge i think there is a high risk it may just bounce off that - meaning any potential gains are limited.
As a suggestion you could put a take profit point at 1.3505.
Something like a 20.30 SL:TP.
I don't know enough to know if that's a proper quality trade or not.
It seems logical to me - but others may well disagree.
The safer bet is possibly to let it break the 1.3500 mark and come in at some point after that.
That's just my tuppence worth !
EDIT: In fact...i just looked at the 4 hour slope .... and it wasn't the biggest slope in the world. SO on that basis i would skip this and reassess after it breaks the 1.3500 mark.
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princepawn
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The screenshot shows the pair on the title bar of each chart. So it is EURUSD. I dont think the slope of the SMA or price matters. What matters is whether the current price is above or below the SMA.
But the H1 chart is counter to the H4. The H4 suggests long and the H1 suggests short. I just noticed that in the screenshot I posted.
princepawn
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If you notice, the H1 price is going above and below the SMA. So, when I first saw the H1 it was above, but by the time I took the snapshot, it was below. Or at least that's my hypothesis for why I posted a set of screenshots where only the first duck was truly lined up.
jotekfinance
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Thanks for the info... good stuff
