FEW River Ride: AUDUSD Radar

Tuesday, August 17, 2010

AUDUSD Radar

Summary:

Weekly(W1) above the river
Daily(D1) bounced off the river(50/100EMA)
4 Hour(H4) has FAS

Entry Look out:

H4 candle is about to close above river
5EMA to cross 50EMA on H4 chart

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River Trading Plan

River Excursions Test

* 5/12 Creek must come out of the 50/100 River.
* Must have one candle’s Open/Close completely out of the Creek.
* Entry on the day after that; entry price the open
* Entry test on: BOTH 5 and 12 leaving the river
* OR just the 5 leaving the river
* Exit test when the price touches the 12, the Creek Shoreline
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+ Or, Exit when the 5/12 Cross
+ Or, Stop Loss 200 pips
+ Or, Stop Loss at 2x ATR

ENTRY EXAMPLES:

1. Just the 5 Leaves the River OR

2. Both the 5/12 Leave the River

One candle open/close after above, THEN enter

EXIT EXAMPLES:

1. The price touches the 12, Creek Shoreline

2. The 5 and the 12 Cross

3. The Price touches the River

Note: I believe this is a 4 hour candlestick timeframe

FEW River Ride

Trade postings

Tuesday, August 17, 2010

AUDUSD Radar

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