DislikedNot after work... at work again
But I'll PM you soon, to try to explain it.Ignored
good luck
Peter
TEB 5ema & 12ema and 21 RSI (MTF) 1,726 replies
5EMA hilo system, and EA Idea 18 replies
4H 5EMA System's EA 79 replies
4HR 5EMA Expert Advisor 42 replies
when 5EMA crosses out of 55LWMA channel 0 replies
DislikedNot after work... at work again
But I'll PM you soon, to try to explain it.Ignored
DislikedHi sterling..There are many cases where we close our trade with the %50 rule, wait for a setup bar and a reversal bar....But instead of a reversal bar to occur, the price goes in a wrong direction and we miss big moves...What would you say about this??
For example there is a big short trend.but we get stopped out with the %50 but the prices keeps dropping...So we just wait and miss the big move and wait for a buy, or is there a rule that gets us in the short trade somewhere?
ThanksIgnored
DislikedHi !
What about the challenge. Is there anybody who did it ?
Thank you Sterling for this very interesting thread and all members who contributesIgnored
DislikedHi,
I just found out I messed up my reply to your earlier post. Just woke up after trading in the night
I've edited that post.
Here it is again
Two candles before #1 were failed reversal bars for previous SELL trade.
#1 closed that SELL using 50% rule.
#1 also became the new setup bar for BUY.
The two candles (one before #2 and #2) were again failed reversal bars. Pending BUY was removed.
#3 became the new BUY setup bar. #4 triggered it.Ignored
DislikedBar 2 was a seup bar, and the buy never got triggered. Bar 3 becomes the setup bar when it makes a lower low. Does this clear it up?
-SterlingIgnored
DislikedYes, I am in agreement regarding Bar#2 and 3, but what about Bar#1?
TimeFreedom
http://www.forexfactory.com/attachme...7&d=1228416733Ignored
DislikedWell I missed the long entry, which everyone else is in, so I am flat. The 1600 candle was a setup candle for a short reversal, of which the 2000 failed and I'm now watching the 0000 which closes in 30 min. If that fails, I will watch for the next Setup. I sort of feel out of sync with you all,. Hope to get back in soon. Currently I have a Sell Stop at 1.4608 and an associated Stop Loss of 1.4801.
Good Luck to all.
LarryIgnored
DislikedYeah im kinda hoping it fails, I think we have more room to the upside on the G/U.
-SterlingIgnored
Dislikeddo we now cancel the sell order and put our stop for the buy back at 1.4461?? since now we have 2 failed reverse bar.
thanksIgnored
DislikedFrom my understanding, and for those that are out of the market at this point, we have 2 failed reversals, so we wait for a new defined Setup (5 pips above below 5EMA) and place our buy/sell accordingly.
Someone should confirm my understanding.
LarryIgnored
DislikedFrom my understanding, and for those that are out of the market at this point, we have 2 failed reversals, so we wait for a new defined Setup (5 pips above below 5EMA) and place our buy/sell accordingly.
Someone should confirm my understanding.
LarryIgnored
Dislikedwhat happen to the current buy??..do we put the reversal trade back in Sell at 1.4461??.........help sterling....
thanksIgnored
DislikedSince we have 2 failed reversal bars, I think, the pending SELL order should be removed, for those already in.
The existing BUY stays as such and we watch for new setup. If upper ema is broken by 5, we place SELL stop order at that high +5 and move the existing BUY SL to the low -5 - spread of that bar.
This is my second week here as well, so I am expecting experts to confirm this.
ThanksIgnored
DislikedI believe we remove all orders, since we have no idea which way the Setup Bar will indicate (buy or sell) or fail (if not exceeding one EMA or if it touches both). We should be totally on the sidelines until Rule 1 is met.
Tonirai - please comment.
LarryIgnored
DislikedAnswering without having a chart to confirm, basically, yes:
If you have 2 failed reversal bars (and none of them qualified to setup bar), you remove your pending order, and place the stop on the live order at the original level (if it's already there, it stays);
You wait for a new setup bar, and act accordingly.
Correction:
"If upper ema is broken by 5, we place SELL stop order at that low-5 and move the existing BUY SL to the low -5 of that bar."Ignored
DislikedAnswering without having a chart to confirm, basically, yes:
If you have 2 failed reversal bars (and none of them qualified to setup bar), you remove your pending order, and place the stop on the live order at the original level (if it's already there, it stays);
You wait for a new setup bar, and act accordingly.
Correction:
"If upper ema is broken by 5, we place SELL stop order at that low-5 and move the existing BUY SL to the low -5 of that bar."Ignored
Dislikeddo we put a reversal order in too at the BUY stop which is 1.4661??
thanksIgnored