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BONIFACE TRADING JOURNAL

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This topic contains 48 replies, has 4 voices, and was last updated by  Boniface Akhuiwu 1 week, 6 days ago.

Viewing 9 posts - 41 through 49 (of 49 total)
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  • #121250

    Boniface Akhuiwu
    Participant
    • Topics: 2
    • 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: 65

    thanks for clear explanation boniface have you checked GBPAUD also

    #121305

    Boniface Akhuiwu
    Participant
    • Topics: 2
    • 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: 65

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

    #121312

    Boniface Akhuiwu
    Participant
    • Topics: 2
    • 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: 2
    • 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: 2
    • Replies: 111

    EAURAUD is yet to obey this strategy.

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    #122697

    Boniface Akhuiwu
    Participant
    • Topics: 2
    • 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: 2
    • 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.

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