FX - Trading the Daily's
- Thread starter abhi_neth
- Start date
GOLD - Daily
SG
SG
1. SMA-9, SMA-100 and Middle BB are congested..... Let them spread out.....
2. BB are contracting, indicating a range-bound market and a possible whipsaw for this trade....
3. If we have to take a long trade, let SMA-9 cross over SMA-100..... Price won't run away too much for this to happen....
4. Stochastic is pointing South and not yet OS....
Please correct me.....
Some of the reasons according to my opinion......
1. SMA-9, SMA-100 and Middle BB are congested..... Let them spread out.....
2. BB are contracting, indicating a range-bound market and a possible whipsaw for this trade....
3. If we have to take a long trade, let SMA-9 cross over SMA-100..... Price won't run away too much for this to happen....
4. Stochastic is pointing South and not yet OS....
Please correct me.....
1. SMA-9, SMA-100 and Middle BB are congested..... Let them spread out.....
2. BB are contracting, indicating a range-bound market and a possible whipsaw for this trade....
3. If we have to take a long trade, let SMA-9 cross over SMA-100..... Price won't run away too much for this to happen....
4. Stochastic is pointing South and not yet OS....
Please correct me.....
Aditya & Abhi both have given very logical explanations why entry is not advised although it does fulfill the 9-100 Condition outlined so far....
Looking at the chart from mid October onwards we notice several whipsaw both Long & Short and moreover at the point of crossover we notice the middle BB is tilting downwards & the 9-SMA is sort of flat.....perhaps it will offer a better opportunity at a later stage......& we will save $50 on daily swap..
This is just one of those things to illustrate that System or Strategies cannot be followed blindly.... wanted to add something about Quants... perhaps another time...
SG
Looking at the chart from mid October onwards we notice several whipsaw both Long & Short and moreover at the point of crossover we notice the middle BB is tilting downwards & the 9-SMA is sort of flat.....perhaps it will offer a better opportunity at a later stage......& we will save $50 on daily swap..
This is just one of those things to illustrate that System or Strategies cannot be followed blindly.... wanted to add something about Quants... perhaps another time...
SG
Hi Sanjoy,
Good to see you.....!!!
Aware that the chart will raise the question you raised.... because the Trade is not outlined in the Framework.....but if you noticed there are a lot of 'Fill In The Blanks Later' in the post which outlines the Setup & was waiting for Live opportunities to bring it up.... than discuss things in hindsight....
Give me till weekend because I have couple of more charts coming up...!!!
SG
Good to see you.....!!!
Aware that the chart will raise the question you raised.... because the Trade is not outlined in the Framework.....but if you noticed there are a lot of 'Fill In The Blanks Later' in the post which outlines the Setup & was waiting for Live opportunities to bring it up.... than discuss things in hindsight....
Give me till weekend because I have couple of more charts coming up...!!!
SG
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