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Just thought I would share the rubber band trade .

This is a rubber band trade... The GBPNZD daily chart with just a 50 sma on it. The price is above the 50 sma and the sma is angled down.

The hard part of course is when to enter. Support and resistance, price action, an indicator. Lots of options and tools to enter.

So what is the enter and exit rules?

futama99 posted:
So what is the enter and exit rules?

Thats the tough part. You have to use a resistance level and maybe a candle pattern to sell to the line. And a support level and candle pattern to buy it up to the line.
I use only the daily chart support and resistance levels. If the pair is in a up trend or down trend and the price pops up or below the line those are the best.
I have a habit of exiting a bit early sometimes, take the pips and run, But usually target the line, or just above the line in a sell and just below the line in a buy.

I made 102 pips on that GBPNZD trade on the chart above . here is the current chart. You can see how the price came right down to the line. I have 2 horizontal lines on the chart for what I think was support and resistance.

Hi

Just watching GBPNZD trade, this is the setup you are planning for next week. Please suggest, going short or long and at what level.

Thanks

I changed the name of this trade to The 50 SMA Trade

Pairs to watch USDJPY and GBPCHF

Here is the USDJPY . I think it will go lower before heading for the 50 line. Its about 80 pips to the 50 line


And the gbpchf is technically ready now , it is a rubber band trade. I am hesitant to enter just yet . It is a volatile pair . I added a trend line.
and it is about 100 pips to the 50 line.

I lost 22 pips last night messing around on shorter time frames. haha. Got to stick to what works. Daily chart rubber band trades.

The GBPNZD is the best looking rubber band trade at this time . 125 pips to the 50 line and the line is angled down. Entry is everything on this trade. It looks good. There is GBP news in about 8 hours I believe .




And the USDJPY still looking good . Not sure if it will go lower before heading to the line . Maybe the 102.20 area?

sold the gbpnzd at 1.9585

New Trade NZDCAD 118 pips to the line .




It has been in an up trend for a while so you will be trading with the trend.




 

I am still in the gbpnzd trade. was up as much as 85 pips. Gonna let it ride . I have a 138 pip limit . just a bit below the 50 line.

3 pairs to watch . EURJPY AUDNZD and CADCHF.

The eurjpy has been in a big up trend . So you will be trading with the trend . It looks ready to get in. The 50 line is flat with a bit of a curve up on the end. 140 pips from the 50 line.



The audnzd has been in a big down trend . 120 pips from the 50 line. wait for the line to flatten out or curve down. Keep an eye on it.



The cadchf also a big down trend. It is at a resistance level but may go to a higher level. 140 pips to the 50 line. wait on it

Trades are still looking good. Some are ready now . Trade them

AUDNZD

CADCHF

EURJPY Ready Now

EURUSD Ready Now

Hello sir,

             Can you any managed accounts ( Like - Pamm ) ??

GodModeTrading posted:
Hello sir,

             Can you any managed accounts ( Like - Pamm ) ??

I have not signed up for any managed accounts at this time. But I am thinking about it.