PA Trading with EMAs & common Sense
One trade per daily bar, or per X bars on current timeframe 0 replies
1 trade per pair per year 6 replies
multiple systems per pair/multiple pairs per system? 3 replies
Trading 24 hours per day, 5 days per week 14 replies
DislikedUSDCHF 5min chart. Price gapping down. When price returns to a gap this can be a trading opportunity. {image} Here price solidly engages a gap and confirms possible continued downward progression as bullish PA is taken out by bearish PA to the downside (a pivot).{image}Ignored
DislikedEURUSD 60 min A median line can be drawn considering the last swing's corrective leg and impulse leg. I'll describe it in detail and then how it is relevant to any potential trades. Pivot A to Pivot B of the ML represents the last corrective leg of the current downtrend. Pivot B to Pivot C of the ML represents the last impulse leg that led to a new LL. Pivot A to Pivot B projects the next potential corrective leg of which we can see price beginning to head in that direction. Although the corrective leg projection can be anticipated it cannot be...Ignored
Disliked{quote} Zooming in a bit and looking at the pink ML an argument to trade long towards the ML (center line of the ML) can be made. The pink ML was drawn using the last smaller swing corrective, impulse and current ongoing correction. Notice that price "zoomed" the pink line ML and did so with a large gap candle. This gives a bit more confidence that price may have a bit more upside before turning back down as would be expected given the overall downtrend. To maximize R:R a buy upon a retest of lower PA is not without merit. However it still remains...Ignored