DislikedThis one really mind boggles me - I've been over the rules and your 1/2/3/4... explanation on how you enter and exit the trades. I think because we can't see the actual numbers on the pip count of where your talking about it makes it a bit harder to understand.
So from what I understand your just going from Buy to Sell to Buy to Sell and so on and so fourth.
It seems like a good idea I just wish I could better understand it better, as far as I know it's based on the same method as Effi brought to us except you just go on every 5 EMA hit in the opposite direction untill stopped out and then reverse the trade.
If you could post your trades live that might help us better to understand, I think that would be a good idea.
Well, all the best, your method looks promising
Cheers,
VB,Ignored
I will post them live. My charst are set for a new bar to start every 2,6, 10 AM 2,6,10PM EST. As ive said you only have to look at the market once every four hours. Right now the opening 4 hour bar for the night broke the lower EMA by more that 5 pips so we would be looking for a long but were already long so there is no chance of a trade being taken on the current 4 hour bar. If we werent long from friday I would have a the following order in the market.
buy stop - 1.7626 (5 pips above the setup bars high plus 3 pips included for the G/U's spread, so technically 8 pips above the high of the setup bar.
Stop loss - 1.7650 (the stop is 5 pips below the setup bars low.)
Does this help at all.
Founder of Day Trading Forex Live