GM everyone. Looks like GU is prepping another setup on the H4 chart, while the daily setup is yet in motion. Awaiting candle close.

Buy sell line trading

sell stop on AU 4 hour setup at 1.0560, stop @ 1.0625, limit @ 1.0470 http://img208.imageshack.us/img208/9374/aussieb.jpg

Buy sell line trading

I have a sell stop on this pair at 1.5656, but with at stop @ 1.5744 and limit @ 1.5512.

Buy sell line trading

Ok. So you basically apply a 1:1 risk reward and ignore, what could be, pullbacks for the same setup?

Buy sell line trading

Thanks 60mm! I am uncertain about the long setup on the AU because the market was selling for awhile, then this strong bearish setup right at the MA, right on the weekend.

Buy sell line trading

Similar but trickier scenario with AU. A long setup right at the 50sma followed by a short setup right at 50sma. http://img854.imageshack.us/img854/2682/ausetup.jpg

Buy sell line trading

Short setup on GU DAILY? — Hi again guys, Forgive me if I ask too many questions. I am seeing the following 'setup' on the GU Daily chart. Thing is, it is sitting right on the 50sma. How do I proceed since we are technically still above the ...

Buy sell line trading

Very clear!

Buy sell line trading

Thanks sniperfxmy! I'm looking forward to learning from you guys here.

Buy sell line trading

Thanks for the clarity on this 60Minuteman! Appreciate it!

Buy sell line trading

Question — Hi 60Minuteman, Have you found it needful to have the 50sma on your chart when trading this method on the daily timeframe? It kind of appears that if I just take them as they appear, without the 50sma, the results are still positive ...

Buy sell line trading

Nice method 60minuteman! Will spend some time on it starting next week.

Buy sell line trading