DislikedHi Golfer,
Can you please add me to your skype forum.
My Sky ID is svirgo1690
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Please add me too.
My ID is: andre.arruda77
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Forex intraday using the 5min chart: EURUSD 108 replies
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DislikedHi Golfer,
Can you please add me to your skype forum.
My Sky ID is svirgo1690
ThanksIgnored
DislikedGolfer:
It seems as if a lot of your examples are based on pattern entries. I think one of the trickiest things here is to pinpoint the entry when price is in the war zone. If we want to enter as close to the 21 as possible, without closing on the wrong side of the 21, I'm thinking that you have to wait for that bar to close before an entry. If there is only a one bar pullback into the zone, halfway to the 21, and the next bar continues in the 'correct' direction, there may be a lot of missed opportunities. Either way, lots of work for ME left to do here....Ignored
DislikedHi, I've spent the last couple of days reading through this strategy and am enormously impressed! I use Phillip's 4hr system and can see the same help & understanding here.
I'm also looking at entry filters and, if I'm right, I think this illustrates what you mean about how useful the MACD can be? Please can you let me know if I'm on the right track! I'm up to page 88 so far, still a way to go!!
The 21 ema has crossed below -0.1, so we start looking for entry signals. Price moves back into the war zone, and the 2nd candle appears to find resistance at the 21ema. It appears to move back down, creating a small tail up to the 21, BUT, no TC on the MACD. Also, the pullback has the appearance of a descending rectangle (same as a bullish flag???), enough to keep me from pulling the trigger, this is too early, may not be on at all.
Am I on the right lines? Still got a lot of reading here before I will even consider live trading it!
Rebecca.Ignored
DislikedI think this is the place where Price Action come into play,
if a pull back followed with morning/evening star or engulfings,
I would rather take as a good set up,
and some times you can also take break of a pin bar,
TC pattern is always good, almost in every time frame,
if morning/evening star or engulfings together with TC off 10 or 21, it is almost 90% win.Ignored
DislikedSorry, had to quickly make another one!! The dashed vertical line shows the corresponding MACD, sma with 21ema, and chart signals. This could have been the potential entry, (without the benefit of the following candles of course!) But entry would be too early, for reasons explained in above post.Ignored
DislikedThanks dhalsim, price action is so important on the higher tf's, but I wondered how reliable candles were on lower TF's, so that's answered my next question, thank you!Ignored
DislikedThanks dhalsim, price action is so important on the higher tf's, but I wondered how reliable candles were on lower TF's, so that's answered my next question, thank you!Ignored
DislikedThanks Willem, that's great!!
It's amazing how moving to a new system can blur logic and rational thinking!! I was looking purely at indicators first, chart 'story' second! I never do that on 4hr, why on earth would I do it here?!!
I like how these systems have so much in common, yet are completely separate & stand alone. I shall be doing lots of homework this weekend!
Thanks for your pointers, hope to see you here again soon when I'm ready to dive in!
Rebecca.
PS. Just seen your last post, thanks for your pdf's here, and to Phillip for his work too!Ignored
DislikedHi Golfer,
Can you please add me to your skype forum.
My Sky ID is svirgo1690
ThanksIgnored
DislikedThe help given by Philip, Golfer and the others in this thread is tremendous! The tutorials/charts; I have never seen a community so willing to share and help, as freely as you all do.
My hat is off to all of you.
There is a lot of talk about this system and the "Four hour" system and their similarities. Which should I learn first? If it matters, I plan to focus on just the EURUSD and I am able to be in front of the computer during most all of the US hours.
Thank you,
CTIgnored