EURUSD is forming a new countertrend, I am looking for a break. Between, a healthy downward trend.

XAUUSD is rallying, I am waiting for an upward momentum again. Gold have just passed its previous swing high recent days.

GBPCHF is in a nice downward trend, I am waiting for a break of the new low.

- You are ready to drop to trash all the indicators what confuse you, and start something classical, simple, and profitable

Does it mean that an innovative idea? or it means that we can use some indicators to create an idea. Please explain what is meant by "classical, simple and profitable". I doubt if it is really a simple thing :).

Btw nice trending charts.

Originally posted by illiterate

- You are ready to drop to trash all the indicators what confuse you, and start something classical, simple, and profitable
Does it mean that an innovative idea? or it means that we can use some indicators to create an idea. Please explain what is meant by "classical, simple and profitable". I doubt if it is really a simple thing :).
Btw nice trending charts.

Actually its nothing inoovative, its a classical trading method which is used widely, its called Price Action. It's classical because its tools are only the basic TA tools and concepts, nothing super, nothing outstanding indicator or tool. It's simple, because its kept simple stupid as you can see on the charts.

I will post more info about this trading technique like how I manage my positions how I enter the market what are my rules etc. It's just my strategy, it just one strategy of the thousands.

Waiting for a breakout at GBPUSD. European session starting soon.

Interesting. I like this thread.

Here is one my entries, short position is opened @ NZDCAD. Downward momentum, and gets below the consolidation zone. SL is tight as its going to be a touch-trade, it's at the top of the breaking candle + 5 pips.

What is important to this strategy: I never use take profit orders. Basically I am a trend trader and as we know: we can't predict when a trend is over. I am trying to remain in the wave as long as I can. So as I mentioned I don't use take profit orders, but I always use stop loss orders. In addition, if price moves to my direction I modify my stop loss order to secure more and more profits - but only if it's necessary, only if we had gone through an important level. Orders have to be ALWAYS related to chart levels.

A little summary by the weekend:

My NZDCAD position got stopped out last night. Currently I have one open position, an existing EURCAD short. GOLD is in my watchlist for a possible long position next week.

I am planning to re-enter short when the last swing low (black horizontal line) is broken, and secure more profits if the market lets me to do.

By the way I still don't know should I hold my positions over the weekend or not. My money management is quite conservative, low lotsizes, tight stoplosses, but on the other hand market can open with a big gap (opposite my trades direction) and it can result in an overjumped stoploss and possible serious loss. While I close all my positions before the weekend I am not exposed to negative gaps and overjumped orders, but I would also miss a possible profitable gap and miss the dynamic of my trades.

GBPCHF: A short position will be opened soon if the pair manage to break the low with a healthy H1 candle.

GOLD: My buy limit order had been executed (a touch trade) overnight, now I am looking for a new possible long position. Position have been covered.