Go Back   DailyFX Forum
Reload this Page Sidebar Wrapper

Thread: Chart of the Day
View Single Post
  #303 (permalink)  
Old 06-19-2009, 03:18 PM
KP FX Trader's Avatar
KP FX Trader KP FX Trader is offline
Guest Moderator
  
Join Date: Nov 2008
Posts: 274
KP FX Trader is an unknown quantity at this point
pattern
Thanks, yes I have been looking at the GBP/USD that you mentioned. I was looking back for the past couple of months on the daily chart. I notice at least a couple of times, the pair trended for 2 weeks, then was stuck in a range for one, and then continued with the trend. How much weight should something like this be given??
MACD, RSI and Stoch are all where I want them. I like moving when stoch crosses on daily, which it did today, it seems to have yielded success in my backtests.
I missed a triangle breakout with the trend on the h1 chart that occurred today and has gained 100 pips since the breakout.
I think I am beating myself up too much about missing the breakout. I wrestle with waiting for a pull back or a break out of another resistance line, or just go with the stoch cross on daily as mentioned. The ADX seems to be weakening on the daily so I have concerns on that as well. Thoughts on the triangle breakout and ADX? Any other comments are valued. Have a nice weekend!
Last edited by KP FX Trader; 06-19-2009 at 03:24 PM..
Reply With Quote
 


Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

All times are GMT -5. The time now is 10:13 PM.
Copyright ©2009 Daily FX. All Rights Reserved.