TA Forex Trading

G/J looks on its way to <143 and UCAD to 1.20

Just noticed the EA took another trade on a UJ short. It's up a few pips right now but it might get stopped out by the trailing stop to keep it in profit.

Maybe NU is finally ready to give it up here and break the wedge to the downside.

Same 30 minute chart...

As an Elliott Wave enthusiast, I use psychology in the markets to help define trends. When a trend becomes exaggerated or overdone, virtually everyone is piled on one side or the other of the trade. Then, at the very peak of the trend, whether up or down, you start seeing news articles pop up everywhere talking about how great the rally is (if up) or how terrible the item in question is (if down).

Once you start seeing the articles proliferate everywhere, you can bet the top is in (or bottom if the item has been sold off).

Case in point...

https://www.fxstreet.com/news/usd-is-very-much-unloved-bbh-201707211047

If the 30 minute NU chart still looks like this when that candle closes here in a minute or so, it'll be a short.

Well, I'm about ready to crash. Been up all night again tinkering with the EA and working with charts so I'm gonna call it a night here in the morning...LOL!

Everybody have a great weekend.

Enjoy pennies and thanks for your efforts

Sent from my SM-G955U using Tapatalk

Pennies........regarding your latest EA report........ the $6,000 ten year gain on your $1,000 investment of 600% beats all the common bank customer investment returns out there, but it's only 20% compounded annual gains unless my math is wrong.    And it wouldn't even be 20% because taxes on those gains would eat into that 20% compounded gains.      It would take 35 years or so at that rate of interest to make a million in your account and a lot can go wrong in 35 years.     So maybe that's a great EA for a 20 year old, but it gets to be pointless to use for a person in their 50's or older.     If your EA were making 5% weekly compounded gains you would have seen over $6,000 in your account in 38 weeks; a little over half the first year.    And the real weekly gains in dollars size (not percentage) occur in far, far greater amounts toward the end of the 10 years rather than during the first half of the 1st year.    If you had a 95% win rate on 4% risk on the running trade(s) then that doesn't leave a lot of optimism for making anywhere near enough dollars in ten years for the 50 year old to accommodate a comfortable retirement before dying or being able to leave anything for your kids.    My question is how big were the 5% of losing trades in terms of percentages and dollars?       

My initial logic brings me to assume that either you would have to increase your risk with that EA substantially to accommodate 5% per week gains or you would have to move to the lower charts while increasing your risk and you would maybe even have to eliminate losses completely and then I still wonder if any EA can make that 5% per week.    Tell me something to cheer me up would ya?   A guy could get a dollar per hour increase in pay at his job and make $20,000 extra in ten years.   I'm thinking now that I'm wasting my time trying to develop my own EA if yours already has a 95% win rate but still only brings 20% gains per annum.       

Hopefully that's the last gasp for UCAD. Added position @ 1.2533 probably should've waited until 2509 though