Hello all,
On the H4 all 5 entries stopped out for 1.67% loss. This is the time to be tough and roll with the punches and keep going. We have re-entries approaching on all 5 pairs on the 4 hour. ATR's all current below for the new trades.
4 Hour:
12:00 GMT: Drop In re-entries
GBP/USD buy re-entry Drop In criteria (atr = 204 ) USD/CAD sell re-entry Drop In criteria (atr = 159) USD/CHF sell re-entry Drop In criteria (atr = 117) EUR/USD buy re-entry Drop In criteria (atr = 161) AUD/USD buy re-entry Drop In criteria (atr = 143)
Looking at the GBP/USD we see we are buying into a falling market, is that a problem?
Let's take a look at the chart and at how the Conquer trading system works to exploit trends. The trend (true trend) is up (positive) and price (stoch) has pulled back to oversold areas (below the 30 level) giving us a price pullback in a up trend. Our entry is the 1st sign price is resuming back toward the trend (making a higher high than the previous price bar.
We are buying price pullbacks into up trends.
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