Hi Neal,
attached a chart showing us not to trade on non-farm-days... I found some more exciting days where this method would have failed several times.
But here some suggestions:
Why not add some more fib levels to the SMA and use the 13 SMA as an entry signal?
I propose to go short when 13 SMA crosses a fib level ABOVE the 89 SMA and vice versa.
Or going short (and vice versa) when price breaks below a level and the 13SMA changes slope for a certain amount of pips in the direction of the trade? This could be used as filter: Slope change 4pips - no trade, slope change 8 pips - trade.
Maybe we are touched too much by fibonacci? Why not other numbers? Gann for instance used square numbers and roots: 4-9-16-25-36 and so on. Maybe we'll get better results. It would be great to develop an EA which let's us play around with levels and there numbers.
When playing around with the mid-SMA, try 55 with 55 as additional levels to the 89.
The suggested method is great - maybe one should predetermine the trend on a higher timeframe and take trades only in one direction, avoiding whipsaws.
Sorry for the idea tsunami
attached a chart showing us not to trade on non-farm-days... I found some more exciting days where this method would have failed several times.
But here some suggestions:
Why not add some more fib levels to the SMA and use the 13 SMA as an entry signal?
I propose to go short when 13 SMA crosses a fib level ABOVE the 89 SMA and vice versa.
Or going short (and vice versa) when price breaks below a level and the 13SMA changes slope for a certain amount of pips in the direction of the trade? This could be used as filter: Slope change 4pips - no trade, slope change 8 pips - trade.
Maybe we are touched too much by fibonacci? Why not other numbers? Gann for instance used square numbers and roots: 4-9-16-25-36 and so on. Maybe we'll get better results. It would be great to develop an EA which let's us play around with levels and there numbers.
When playing around with the mid-SMA, try 55 with 55 as additional levels to the 89.
The suggested method is great - maybe one should predetermine the trend on a higher timeframe and take trades only in one direction, avoiding whipsaws.
Sorry for the idea tsunami
42