Attached the Bar time indi...
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DislikedHi LG,
Thanks for sharing.
You asked in an earlier post about alternative settings. Compare the following with the 3/8/200 which you use. I was using this configuration for something else but it actually works very well when used in the same way as you use yours.
Gold, simple ma on close, period 2, shift 0
Purple, smoothed ma on median, period 2, shift 1
White, linear weighted ma on close, period 50, shift 0
I recall you use a trailing stop but the crosses on these work quite well for entries and exits. For example, see the nice move up...Ignored
DislikedThis is similar to what I use, though adding the 200ma for direction is a nice addition. I use a 3/7EMA cross over.
Since 2008 the Euro/USD is pretty highly correlated with the Dow Jones Industrial average. I use the same ma cross over there as well. As long as the Dow is long, based on the ma's I am long the Euro. When the Dow's ma's cross I am short. I use a very low margin and don't work with any stop losses. I just check it once or twice a Day. If it looks like there is a cross over on a particular day, I wait until the next day for confirmation....Ignored
DislikedThanks, Paul. I'm going to set up that template right now and take a look. You use the 50 for direction?Ignored
DislikedLawgirl,
I used to follow the dollar index fairly closely. After a while I begin to see a stronger correlation between the Dow and the euro/$. No relation is perfect or forever. The key is adaptability and flexibility. There does seem to be a strong correlation in all asset classes, except gold. Thus when the Dow is up crude oil is usually up, grains are usually up, and so is the Euro/$. Oh yes, the dollar index is down. Normally, it shouldn't work this way, but we are not in normal times.Ignored
DislikedI'll start keeping an eye on the Dow too. Thanks for this concise summary of the correlations.Ignored
DislikedI'll start keeping an eye on the Dow too. Thanks for this concise summary of the correlations.Ignored
DislikedI've been thinking about this strategy over the weekend, in particular how it interacts with the 4 candle H1 BO strategy.
There are two things that bother me, the risk of picking up a false BO and the fact that we are jumping on the bandwagon AFTER the BO.
Every man and his dog can watch the period of consolidation, followed by a powerful PA movement outside of the trading range. Everyone will be getting in when that prices moves outside the range (which is surely one of the reasons for false BOs?).
So, I've had an idea, which of course might...Ignored
DislikedSome very good ideas here, FP. I especially like the two trades suggestion.
Keep in mind that I see this as a better cross over trend trading set up than a BO set up. I added the box lines to see if the two systems compliment each other and they do.
Looking at AUDUSD from last week, the cross on October 18 was a beautiful trend cross trade that turned into a H1 4C BO on the 18th and continued as a trend/BO trade on the 19th. It was on the 20th that the conslidation began and the crosses had to be carefully watched to trade.
Buying at the...Ignored