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Re: XARD - Simple Trend Following Trading System

Musashi, Fri Apr 14, 2023 4:16 pm

Hey guys,
Hope you are all well.

Part one: the setup (even if you are a stupid idiot and miss the open....like me today) :-(

The AUS200 open today. I couldn't sleep and put a couple of trades on last night during the NY session.

Firstly, the major square dot is above the price of M15 chart. Therefore major direction is down, and anything up would be counter-trend.

I started late today, so I missed an easy sell trade on the open - I am thinking here is a white dot (pink arrow) so maybe sell trade. Where does the price go? It goes down to a small blue dot and starts moving back up. Here is where I would have put a pending sell order - it would have been a good one. Pretty straight forward.

WITH MAJOR TREND DOWN GOVERNED BY PINK SQUARE DOT LEADING TO WHITE DOT (PINK ARROW) THEN SECOND DOT (SMALLER PINK DOT
What I did was trade from where price was when I got started - Price can go up, down, or consolidate, but 'usually' there is movement in AUS200 at the open for 2-3 hours. You must be able to see the white dot (blue arrow on the M15 chart - what would be a confirmation of an upward move? A 2nd dot (smaller blue dot).
My thinking is this. If price moves up I need to be in the buy trade, if it continues down, I need my Buy orders to be closed and my sell orders to be there.

It is like setting a trap.
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