An Explanation Of My Trade

[Magician]

Hi Guys never really shared, but I thought I would post my simple system, I have pictures, and action is based on today 24 Dec 2012.
So here goes, I have to add, this is only my way of doing things.

24/dec
GBUS.......... Sell

4hr chart/trade
Prc has brk/closed below the 30ema, fell a couple of candles, and then pulled-back.
Macd (momentum) red-line is falling, as is the 30ema. (gun cocked)

1hr chart
Prc pulled-back to the 30sma, also 30sma has crossed the money-line (yellow) money-line is also slightly down, macd is very bearish, stochastic has crossed down.
Entered at the 30sma line (gun fired)

Note
Dly chart shows prc has climbed a great deal (400pips +) there is divergence with the macd, you can see prc matched the previous highs but momentum is lower, however 30ema is upward as is the money-line, but looking at prc I believe prc will fall.
Wkly chart suggest prc is at resistance, zero momentum, money-line is flat, again some divergence with the macd, cracking doji......

Note,
What I count as a brk/close below or above either the 30sma or the 30ema is that it also must brk/close above or below the zero line on the macd,

Stop-Loss
If prc brks/closes above the 30ema, then I am out …........

On this trade I have placed a Take Profit, normally I don't, I use the macd to get me out.

Closed the trade manually, due to it being Christmas eve. 80pips

 

[Magician]

Hi Guys never really shared, but I thought I would post my simple system, I have pictures, and action is based on today 24 Dec 2012.
So here goes, I have to add, this is only my way of doing things.

24/dec
GBUS.......... Sell

4hr chart/trade
Prc has brk/closed below the 30ema, fell a couple of candles, and then pulled-back.
Macd (momentum) red-line is falling, as is the 30ema. (gun cocked)

1hr chart
Prc pulled-back to the 30sma, also 30sma has crossed the money-line (yellow) money-line is also slightly down, macd is very bearish, stochastic has crossed down.
Entered at the 30sma line (gun fired)

Note
Dly chart shows prc has climbed a great deal (400pips +) there is divergence with the macd, you can see prc matched the previous highs but momentum is lower, however 30ema is upward as is the money-line, but looking at prc I believe prc will fall.
Wkly chart suggest prc is at resistance, zero momentum, money-line is flat, again some divergence with the macd, cracking doji......

Note,
What I count as a brk/close below or above either the 30sma or the 30ema is that it also must brk/close above or below the zero line on the macd,

Stop-Loss
If prc brks/closes above the 30ema, then I am out …........

On this trade I have placed a Take Profit, normally I don't, I use the macd to get me out.

Closed the trade manually, due to it being Christmas eve. 80pips

GBUS
26th December 15.12

4hr/Trade
Same reasons for this trade as my last one, prc has fallen then again pulled-back, 30ema down and steep, macd still falling and at this angle would expect it to brk water-line (zero-line) and continue to fall,

1hr,
Prc has brk/closed above the 30sma, also stochastic is still pointing very much upward, macd is curving up as well, doubting myself as I type this, perhaps not a good short, on an up note money-line is still slightly falling,

5min chart
Drummed down to this chart just to chk it out, reason, my entry was crap, possibility of a bit of divergence prc higher, stochastic ?, 15.23 prc has fallen 14 pips so divergence on the stochastic was confirmed, but I broke the rules a bit here...

Prc down close to support around the 1.6148 + /- if it brks / closes the support (happy days)
my target is around the the 4hr money-line (yellow)

16.00pm
prc has drop, 40pips,

Note
Dly
30ema beginning to turn, not yet down but it has to start somewhere, divergence with the macd, my belief is that prc is falling, however I would like to see a brk and close below the dly 30ema, to confirm this.

Think I might have to come out of trade due to family responsibilities, I.E. I'm the granddad who gets suckered into being the taxi, but 80 pips as it pulled back the 1st time, then another 40+ pips on this 2nd pull-back .. closed at 1.6123

 

[Agnnis bingamin]

Nice explanation really impress thanks for this.