forexkunta
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I think this is the longest stretch of SILENCE I have ever seen on this thread!!!!! I guess everyone is too busy trading the method.
I think this is the longest stretch of SILENCE I have ever seen on this thread!!!!! I guess everyone is too busy trading the method.
Howdy Iandh, I'm not 100% sure what you mean by "all in the one move".... can someone please confirm whether the 3rd Duck (on M5 charts) has to cross the 60SMA and take out the previous high all in the one move, i.e. on a long trade cross above the 60SMA
... how many 5 minute bars you check back over to find a previous high.
Howdy Duck Hunters,
If you're superstitious you're probably not trading today with it been Friday the 13th, unlucky for some!
Having a gander at EURUSD it does look like our first Duck favours buying set-ups only, price (circled) is currently trading above the sma on the 4hr chart.
Would I be diving in to buy EURUSD? No, probably not. I'd reckon price will head lower in the coming sessions and this would push price below the sma on the 1 hour chart (2nd Duck). In a case like this, our 2nd Duck would not be confirming, price would be on the bearish (wrong) side of the 1 hour sma.
Funny thing about it is, a pullback would probably be good for the bulls at this stage. A drop in price might give them a rest, a chance to re-group and a better level to go long at again next week.
To wrap it up, for now I wouldn't do anything with the EURUSD but any pullbacks might offer a decent RvR opportunity to go long next week on this pair if/when all 3 Ducks line-up in the same direction.
Have a super weekend,
Andy
Captain Currency
Howdy Duck Hunters,
Just wondering if that pullback is over? Wouldn't be a bit surprised to see the Usd.Cad take another run north, taking a swipe at that resistance area 1.3792 (highlighted) in the coming days/week.
Usd.Cad is currently trading at around 1.3670, 2nd Ducks on the 1 hour chart is not confirming (price on wrong side of sma). Could be an interesting pair to keep on your shortlist for the next few sessions, see if our Ducks oblige and line-up for a buy.
Andy
Captain Currency
... What about correlations? If USDJPY and EURJPY and GBPJPY are giving signal to buy. Do you buy all of them or just one?
You're very welcome, hope you got the eBook....Thank you for the great system!
Naw, wouldn't fancy buying all 3 pairs, instead maybe look to trade the strongest currency against the weakest currency.
Let me try and confuse you Acharyadas ... From the start it looks like we have a weak Yen if you're seeing buy signals on Usd.Jpy, Eur.Jpy and Gbp.Jpy. No prizes for guessing JPY is the weakest currency out of the 4 mentioned currencies ( JPY, USD, EUR, GBP).
Out of the 3 remaining currencies (USD, EUR, GBP) can you figure-out (take an educated guess) which one is the strongest currency?
If you believe USD is currently stronger than the EUR and GBP then you might fancy trading the weakest currency (JPY) against the strongest currency (USD) or in other words ... buying Usd.Jpy
You're very welcome, hope you got the eBook.
Andy
Captain Currency
4 hour chart (1st Duck) is a good starting point.... how do you know what is the weakest or strongest currency?
4 hour chart (1st Duck) is a good starting point.
This free guide might help you (might not), either way it's worth a quick read: How to Search the Market for Profitable Clues
Andy
Captain Currency