EURUSD — Pull Back coming? image

Simple Simon Balance Line Trading

Price does what price wants to do — It'll be fun to see what happens.

Simple Simon Balance Line Trading

USDCHF — I would be careful about going long here. The signal to go long is correct, however there is a lot of selling pressure in the congestion that a long would have to get through. I would rather see more strength by having price action ...

Simple Simon Balance Line Trading

Balance Line — May I interject? Recent posts seem to be muddying the waters. Bill Williams Alligator has the Jaws as period 13, shift 5, smoothed to the median price. This is the balance line. Give it any name you want, but I think here we ...

Simple Simon Balance Line Trading

Hot Keys — Hot keys are nice and they are a must if you're trading on a one minute chart. One of the many things I like about this method is how leisurely it is. We are primarily trading on the 1 hour chart. In my opinion hot keys are not ...

Simple Simon Balance Line Trading

I'm a believer — I entered the EURUSD long a couple hours ago on the 1 hour chart. I'm currently up 100 pips. What a great system you have here, Colostarr. I have not had a losing day since I started your system. Many thanks!

Simple Simon Balance Line Trading

Reverse signals — I agree.....that a reverse signal might be indicating entering a range bound market. I don't have a chart handy.....it was just a theoretical question. I guess my question would be: does a reverse signal trump a not-yet-hit ...

Simple Simon Balance Line Trading

Reverse signals — I have a question....First, a trade is signaled and then triggered. Then, soon afterward, and before the stoploss is hit, a trade signals and triggers in the opposite direction. Should we exit the trade (but not take the new ...

Simple Simon Balance Line Trading

Angulation to the balance line — Here is a chart I marked up of recent price action of AUDUSD on the 1 hour chart. It shows both good and bad angulation. image

Simple Simon Balance Line Trading

Good Morning — Well, it's morning for me....Lake George, NY. May I comment on paul56's chart?.............your chart shows the balance line to be very flat. I would not place any trades at all until price breaks out and then retraces to the ...

Simple Simon Balance Line Trading

Trading Journal — Yes, I'll defintely start a trading journal. Over the weekend I bought a new three ring binder for the trading journal for this method. I bought a big one because I think it will need to hold a lot of trades.

Simple Simon Balance Line Trading

Yes, I have trading plans....lots of them. It seems like I'm writing a new one every couple weeks because I didn't have faith in the methods I was using. This method, however, is a great perspective on Williams' "Trading Chaos" theory. I have read ...

Simple Simon Balance Line Trading

You're Welcome — Glad to contribute. It helps me as well, because to make a good reply, I have to think through my reasoning logically. This is good practice for when I take a trade, so I don't just enter on a "gut" feeling.

Simple Simon Balance Line Trading

My Thoughts — I just thought I'd throw my 2 cents into why I did not take this trade. 1. The buy stop was under the 50ema, so I was expecting a bounce down at that point. 2. I could take a buy stop 3 pips plus the spread above the 50 ema, but ...

Simple Simon Balance Line Trading

New Version — Thank you so much, CodeMeister. The new version works very well with the suffix field. I have made three charts, each to display one of three timeframes I wish to watch. This is a great piece of work.

SS Balance Line Dashboard Indicator

one bar time limit — If I'm not mistaken, for a trade entry to be valid, the trade must trigger on the very next bar. If it does not, then the trade is invalidated. So, no entry in this case. Also, the balance line is flat and far away, so no ...

Simple Simon Balance Line Trading

Balance line flat — The balance line is flat for both EURUSD and GBPUSD on 1H charts, so I'm ignoring them until there is a breakout and then a retracement back to the balance line that bounces rather than crosses. USDCAD is currently doing ...

Simple Simon Balance Line Trading

GBPUSD — So far the 50ema has contained the GBPUSD on the 1H....early in the hour though. image

Simple Simon Balance Line Trading

USDCAD — Now that usdcad has broken out, I'll be waiting for the retracement back to the balance line to go long. I have heard this set up referred to as "the gift"

Simple Simon Balance Line Trading

EURGBP — Wow, The addition of the 50ema adding to the confidence of entering EURGBP short is right on. This chart shows my current situation with the first of three targets hit and stop loss in positive territory. image

Simple Simon Balance Line Trading