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This topic contains 51 replies, has 4 voices, and was last updated by  Boniface Akhuiwu 2 weeks, 6 days ago.

Viewing 12 posts - 41 through 52 (of 52 total)
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  • #121250

    Boniface Akhuiwu
    Participant
    • Topics: 1
    • Replies: 111

    NZDCHF and NZDJPY are positively correlated. NZDJPY strongly bullish. Also you would notice that the 3rd and 10th July could not bring the pair down. Any way some week setups can move. An yet I do not see it coming down. Also check another pair that’s correlated – EURNZD. The 3rd and 10th on the weekly could not bring it up.

    #121302

    james NM
    Participant
    • Topics: 1
    • Replies: 71

    thanks for clear explanation boniface have you checked GBPAUD also

    #121305

    Boniface Akhuiwu
    Participant
    • Topics: 1
    • Replies: 111

    thanks for clear explanation boniface have you checked GBPAUD also

    Same setup with GBPNZD both weekly and the daily. But the GBPNZD daily touched the upper band better

    #121307

    james NM
    Participant
    • Topics: 1
    • Replies: 71

    that’s great but i wont go long for GBPNZD for am already short on NZDUSD

    #121312

    Boniface Akhuiwu
    Participant
    • Topics: 1
    • Replies: 111

    that’s great but i wont go long for GBPNZD for am already short on NZDUSD

    I wish you good luck.

    #121644

    Boniface Akhuiwu
    Participant
    • Topics: 1
    • Replies: 111

    Great setup in the making on the EURAUD long, base on my entry point. The weekly already closing above the middle band, while the daily is closing above the upper band.

    #122369

    Boniface Akhuiwu
    Participant
    • Topics: 1
    • Replies: 111

    EAURAUD is yet to obey this strategy.

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    #122697

    Boniface Akhuiwu
    Participant
    • Topics: 1
    • Replies: 111

    On Friday there was a resistance breakout. How valid this resistance only next market movement can tell. I believe this the first entry point for me. Then if the weekly closes above the middle band, while the daily closes successfully above the upper band then a second entry- based on the strategy I have been backtesting. What I admire about the breakout is the “Double Protection” of SL. The position will be protected by both the Middle Band and the broken resistance, now acting as the support.

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    #122705

    Boniface Akhuiwu
    Participant
    • Topics: 1
    • Replies: 111

    So much uncertainty with GBP. GBPCAD failed while all the other pairs are still moving accordingly. Not regrettable using GBP to test the strategy during its uncertainty. It would be on record now for me that no setup is safe during high uncertainty.

    #124189

    Boniface Akhuiwu
    Participant
    • Topics: 1
    • Replies: 111

    Stochastic supported breakout on AUDNZD. Also this pair has been moving sideways, and now is closing below the lower band, though less than two hours to the end of today market close. According to Chris if price has been moving sideways and finally closed below the lower band it means that bearish movement wants to continue.

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    #124191

    Boniface Akhuiwu
    Participant
    • Topics: 1
    • Replies: 111

    Great thanks to Chris and all Luckscout team members on the teaching on Stochastic. According to Chris it helps to fitter out fake breakout. One of the interesting thing about stochastic trading when oversold/overbought region is that it makes setup in whatever direction the stochastic takes. What I mean would be explained more on my current EURAUD long. The point is that when it gets to oversold for example and there is a strong support line/level, closing below it is setup. Failure to break it and stochastic has crossed above 20 it makes setup also- EURAUD long.

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    #124193

    Boniface Akhuiwu
    Participant
    • Topics: 1
    • Replies: 111

    Less than two hours the market closed with doji candle on AUDNZD. Not so funny.

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