EURJPY beware of the downtrend channel.

Monthly Profit - Daily Trading using SMA

Thanks for the warning Doppiomalto. Indeed on your chart it looks as a valid trend line (min. 3 points of contact) but on mine it is more distant from current price action.

Monthly Profit - Daily Trading using SMA

EURGBP Bearish signal given by last Thursday candlestick, SMA5 now pointing downward. Nice reversal confirmation after bearish engulfing pattern on the upper Bollinger band breakup. Friday's retracement from Bollinger middle band was capped by 50% ...

Monthly Profit - Daily Trading using SMA

Hi Jmtini, sure and you could make a lot of money scalping m1-m3 in big sizes as well. The thing is that Bk8 wanted to share a simple "set-and-forget" system for those who struggle making money on forex. Considering only daily charts signals allow ...

Monthly Profit - Daily Trading using SMA

First of all one should have a trading plan and stick to its rules. This thread's strategy stop-loss rule is: 15pips above/below the signal candlestick having crossed SMA5. Some also do not use stop-loss orders but prefer to open hedging inverse ...

Monthly Profit - Daily Trading using SMA

Normally about 5-10x and occasionally up to 50x depending on stop-loss distance.

Monthly Profit - Daily Trading using SMA

Hi Burtsfolly, you chose the right weekend for a gap I guess! Weekends are the only moment where you can observe gaps in forex, in theory. Nevertheless just looking at the above chart you can see by yourself that sharp gaps occur quite rarely in ...

Monthly Profit - Daily Trading using SMA

I was quite busy recently and did not have time to get involved but thanks to those warning about Kiwi which looks even more attractive after small retracement. It is well positioned after a BB breakout.

Monthly Profit - Daily Trading using SMA

Jmtini, sorry but I am afraid I do not understand, where exactly did you see that Bk8's strategy was based on sma5 crossing sma20 or Bollinger middle band? Sure this sma20 is an important line for strategies which are based on BB but in this case, ...

Monthly Profit - Daily Trading using SMA

Hi RieseP, agreed and I would add USDCAD

Monthly Profit - Daily Trading using SMA

Interestingly Apr. 17 high and current ultimate resistance closely matches monthly SSA

Ichimoku and price action

XAUUSD Hi, just another bullish breakout about to be fully confirmed once Tenkan will be out of the cloud, both on daily and weekly:

Ichimoku and price action

Hi Kski, from my perspective no for two reasons: 1) today's currently upward candlestick hasn't closed yet so we have to wait to know how it will look like 2) because sma5 is not pointing up, not even flat. All the best.

Monthly Profit - Daily Trading using SMA

I know Bk8 has not shown up for a while but I think and maybe some others too that this thread will totally lose its "raison d'être" with posts that do not match the last version of the strategy as its author meant it to be. Of course that does not ...

Monthly Profit - Daily Trading using SMA

GBPNZD another continuation setup:

Monthly Profit - Daily Trading using SMA

NZDUSD Daily. Tyross, any weakness you could identify on this bullish Kumo breakout please?

Ichimoku and price action

I hope some could earn some good pips with this one.

Monthly Profit - Daily Trading using SMA

Agreed, very well positioned after rebounding from lower Bollinger band. Long tail and strong engulfing candlestick show bulls have taken control. Let's see if it will pass the tricky middle band .

Monthly Profit - Daily Trading using SMA

Could not have said any better! I guess the person you are referring to is the same as the one I had in mind, his name is Khalid El Bouzidi. I have his first book in french and it is a mine of insights.

Ichimoku and price action

Indeed I remember now some French speaking youtuber mentioning this point. Don't you consider that on the daily Tenkan is not really far from price?

Ichimoku and price action