TA Forex Trading

Bought another house 9/28/2017 that needed major overhaul, mostly done by me which denied me any chart time so I went inactive for a while. Started easing back into trading a couple of months ago and kind of started back head-strong last Thursday. I'm just a lurker with no knowledge to pass along but missed reading the posts.

Honestly Heavy, that's why I'm trying to put together an EA that bases the trade on an ema or smoothed ma crossover of another ma, and since there's a lot less false crossovers going from a very fast ema lines over very slow ema lines then two ema lines that are closer in bar length, I'm wanting to use the 6 or so ema fast line and the far slower 400 ema line crossovers to base my trades.    Of course there's still periods where both lines will cross over numerous times before the final breakout begins, which is where the larger gains are netted, but it's a matter of the true breakout crossovers beating out the false breakout crossovers in pips and percentages.    Still working on the false crossover thing.

EU hit the 261.2 fib extension I show on the daily chart.     I don't think that going to turn it.   It's a breakout!    Where does it all end?    Seriously though I had to move cash from my secondary account to my primary account to reduce the risk in my primary account.    USD/DKK is close to hitting a weekly FE 300 level I have on that chart but I'm just not convinced that's going to give the bounce I've been waiting for.    It's almost 5000 pips below to the ascending weekly channel lower line on USD/DKK and that may be where it's headed, but I could use a nice little bounce before it gets there.

One other thing I noticed that's different on this EU spike, Heavy. USD/MXN and USD/CAD didn't drop as they have been when EU moves up...neither did AU and NU move up with it. The rest of the pairs other than GU are now diverging away from the EU rally...could be a final topping sign as well.

A few years ago, I was playing around with the box method based on a fib box system that Simplegreen brought to IHUB.

During testing, I often found that 3 boxes was about as far as the market could push a particular pair in any given direction without a retrace.

The basic rule was that once the 3rd box got hit, the price would retrace back to the 1st box level again.

EU is basically there. Can't rule out a bit more topside but it's pretty limited from these levels.

EU 4 Hour Chart...

Yep, that's the way to do it Heavy. I was born at night...but not last night...LOL!

After a I blew up a few accounts in the old days, I started keeping secondary accounts where I could trade the other direction. Each week or so, I'll take profits out of the winning accounts and shuffle them over so I can take additional positions on the drawdown accounts and keep things flowing nicely so the percentage of drawdown doesn't waver much. Wash, rinse, and repeat. Works like a charm.

Could be Heavy. But I keep hedge trades running so the account doesn't suffer. Either way, I win. ;-)