HammerMan Exposed

[HammerMan87]

Trade Setups for this week.

EURUSD

4 Hour Chart - Price has dropped to support and bounced, DMI is showing extreme readings - hinting that price is oversold.

1 Hour Chart - MACD is heavily oversold and the histogram is turning up.

15 Min Chart - Orders Placed

 

[HammerMan87]

Hi mEmmerrr,

Thanks for you comments, the trade setups I am posting at the moment..am I making the same mistake? or are these more legitimate?

 

[HammerMan87]

USDCHF

4 Hour Chart - Price has rallied to resistance and been rejected twice by the 2 candle wicks touching the resistance line. DMI is showing extreme readings hinting an overbought situation

1 hour Chart - MACD is overbought and rolling over.

15Min - Orders Placed

 

[HammerMan87]

USDJPY

4 hour and Daily chart are showing that price has rallied to resistance, DMI is showing an extreme reading hinting that the move is overdone.

1 hour chart - MACD is rolling over and price has tried twice to rally towards 99.

15 min Chart - orders placed.

 

[HammerMan87]

Ok, Stopped out of the last three trades - after review I know why - I DIDNT FOLLOW MY PLAN!!! My plan dictates that I look at the direction of the 60p Moving Average to determine trade direction, on all three trades the MA is either in the opposite direction or flat, not conducive to my plan.

 

[HammerMan87]

Entered the AUDUSD - following reasons

4 Hour Chart - Price has his resistance at 3 points, the downtrend line drawn, the underside of the uptrend line drawn, and the 60p MA.

1 hour Chart shows price rallying but the MACD histogram failing to form higher highs and confirm the momentum. The last 1 hour candle is also a doji-type candle.

15 Chart - orders and stop loss.