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intraday trading setups using trendlines and RSI only

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  • intraday trading setups using trendlines and RSI only

    This thread will be similiar to the other thread i have started here @ http://indo-investasi.com/showthread.php/8174-Naked-charts-with-trendlines-only

    but posts will not be based on higher time frames. we will be looking at m15 charts and possibly hourly charts only here.

    WE DO NOT ADD TO LOOSING POSITIONS AT ANY STAGE.


    Money management is a maximum of 10% exposure at any given time and a minimum 1:2 risk:reward per trade, if this is not possible no trade is entered. Account is $1k in size and lotsize will be limited to 0.02 at maximum per trade

    I will be avoiding what is to be considered high impact news and will be flat 30minutes before said news. Medium or low impact will be ignored. For a good economic calendar please use http://www.dailyfx.com/calendar/ rather than http://www.forexfactory.com/calendar/ the reason for this is FF often displays news as Tentative while DFX shows the actual time, i also feel FF displays some news as high impact when DFX displays it as low or medium at best. In my experience DFX is more accurate in defining the impact the news will have on the markets.

    All pairs that i consider tradable due to trends / volatilty and spreads will be covered, which will be a maximum of 15 pairs at any given time, so plenty of potential.

    Please be aware that if you decide to follow any of these setups at any stage with real money you accept responsibility for any and all trades placed on your account. Dont come crying if you loose money simply because the markets did what they wanted or you over leveraged your trade(s)

    No i have not started a demo for this, is i recieve some requests i will do so but until then the only demo will be on the formentioned thread.

    With that being said on with the show


    Code:
    http://www.myfxbook.com/members/syk1kz/alpari-uk-noexpire/45200
    Last edited by syk1kz; 17-08-10, 23:23.

  • #2
    first pic here shows audusd positive divergence appearing on what is widely considered the intraday timeframe to use, M15

    an upswing is being hinted at here



    here usdcad setting up a similiar scenario

    Last edited by syk1kz; 12-08-10, 04:19.

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    • #3
      nice.. i like rsi so much.
      plz keep it coming sir
      tq

      Comment


      • #4
        so audusd did indeed move up as per the picture posted

        Comment


        • #5
          after the usd news i am looking to get short above 0.9000, probably wont marterialize though

          pending aud 0.9000 sl 0.90500 TP 0.89000 1:2 RR, expires 2 hours from now or 00:30 GMT +10

          Comment


          • #6
            i have taken an exploratory short on audjpy

            Comment


            • #7
              heres a demo i have been playing around on which is tracking these intraday setups
              http://pipstealer.mt4stats.com

              please note this is not a fresh demo but it is all trendline intraday trading.

              euraud trade is from the other thread, i really should of posted it here but it doesnt matter now

              silly me forgot to do TP for euraud, it hit TP and now reversed some what, sti

              ll up 30pips, will let it ride out now rather than closing it.

              EURAUD TP hit for a 1:2 RR, please check above mt4stats link for verification - it appears i mistyped TP, anyway it was still better than 1:1 by alot

              audjpy only trade open now
              Last edited by syk1kz; 12-08-10, 15:30.

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              • #8
                watching audusd, this will prob make or break my audjpy since they are following a near identical pattern as of late



                m15 might be ok to enter off if it doesnt close above, i dont know you make up your own mind, i will short if this m15 holds the trendline, and has a descent reversal, if it sits just under it i think it will continue to the next marked line, or somewhere around there in which case i will get short above 0.9000




                entered short at market, see above link for details
                Last edited by syk1kz; 12-08-10, 15:51.

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                • #9
                  audusd has slowly entered into the positive, audjpy hasent budged

                  ok so audjpy hourly shows support turned resistance, but will it hold?



                  Last edited by syk1kz; 12-08-10, 19:00.

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                  • #10
                    now we have hit the asian session things will go quiet, although yesterday i raked in over 200pips during the asian over 5 pairs

                    maybe today will offer a similiar opportunity, anybody interested in asian setups?

                    Comment


                    • #11
                      still in both audusd and audjpy shorts, heres what im looking at on audjpy



                      where did my pic go ****** imageshack

                      ill hunt it down and reup it later to keep everything consistent
                      Last edited by syk1kz; 13-08-10, 18:02. Reason: where did my pic go :(

                      Comment


                      • #12
                        will be looking to take advantage of positive nzdusd news to get short, 30mins to go until said news is released

                        www.dailyfx.com/calendar/

                        Comment


                        • #13
                          is audjpy heading for stoploss? probably
                          Last edited by syk1kz; 12-08-10, 22:43.

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                          • #14
                            nzd news hits trendline, will it break? looking to short





                            going short nzdusd @ market, stoploss/tp to come
                            SL: 0.71670
                            TP: 0.70450 - below support i know but lets try anyway
                            Last edited by syk1kz; 12-08-10, 23:04.

                            Comment


                            • #15
                              audjpy has hit stoploss -50 or 60 pips

                              see first post for link to stats

                              Comment

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