Quoting bluemoonDislikedadditionForexMike,
You have to wait until the bar closes to get the 'correct' signal [re; the blue bar] and in my view the euro price was held up by the Weekly Pivot Points.
IMHO
bluemoonIgnored
MIke
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Quoting ForexMikeDislikedIBO,
I took a short was stopped out as the price subsequently raced to new highs. I noticed a blue arrow this morning, but that is now gone.
Ignored
Quoting sm31DislikedI just started experimenting with this system, but in back testing I've been putting my stops above the high/low of the trend. In this case, I'd have put my stop a few pips above the high of the 12:00 candle on 5/1 (1.2688). And I've been putting my limit at least as far as my stop. So far the results are very encouraging, but again this is just in back testing and I am very new to the system.Ignored
Quoting bigballerDislikedThat is good to put the stop. But keep in mind that the EUR is VERY strong right now, and you need to pay attention to news and what the banks are saying. DailyFX.com is a great source for that. They are saying that the EURUSD could go to 1.2750 - 1.2800......that would blow right past that stop!
Just a thoughtIgnored
Quoting sm31DislikedThat's what scares me about this system! I'm primarily a trend follower. The fact that this system is more of a "reversal spotter" got my attention. But I'm with you. I don't think I would consider a significant short trade against the EUR/USD right now.Ignored
Quoting eurusdtraderDislikedDear Traders,
I think the reversal day that you are looking for will be Friday,many of members are striving to catch the reversal but it has its own rules. I know that Tunnel trading strategy and VWB show a very good reversal but you are rash and can not catch this by 1/2 general rules. They are very good strategies and I appreciate them but timing...Please see the attachment.
Rgds,
IboIgnored
Quoting sm31DislikedI just started experimenting with this system, but in back testing I've been putting my stops above the high/low of the trend. In this case, I'd have put my stop a few pips above the high of the 12:00 candle on 5/1 (1.2688). And I've been putting my limit at least as far as my stop. So far the results are very encouraging, but again this is just in back testing and I am very new to the system.Ignored
Quoting eurusdtraderDislikedThis is a forex trading system on H4 chart with attached indicators and templates.
Instructions:
1- You should use MT4.
2- You should Update Monthly, Weekly, Daily, H4, H1 charts when using.
3- You should copy the indicators in .../Meta Trader/experts/indicators folder.
4- You should copy the indicators in .../Meta Trader/templates folder.
5- As this is an easy-to-use method you just use templates to do every thing with this method.(e.g. ususally setup ej_4h for monitoring and when you are predicting market by pivots you setup ej_4h_wp or/and ej_4h_mp and after your calculation back to ej_4h to see the chart with less difficulty.
6- Templates with the extention of "wb" are ones with White Background to facilitate preparing a picture for printing or other use.
Abbreviations:
ej_4h ------------------------ Basic template (setup)
ej_4h_wp -------------------- Basic setup+weekly pivots
ej_4h_mp -------------------- Basic setup+monthly pivots
ej_4h_dual stoch ------------- Basic setup+dual stochastic oscillator
Important Notes:
1- All Updates of indicators, templates and documents will be done in this post (the first #1), just a notification will be sent as a new reply (post).
2-The texts/posts in blue color are the ones that members discuss daily/current price action, forecasts and commentaries; so for shortening the duration of following the thread if you are new to thread you can neglect them for awhile. (We do this not to distract or diversify the efforts of members by starting a new thread, so please be aware that no new thread related to this method should be started)Ignored
Quoting renasdadDislikedSo, there are only 2 parts? I downloaded those 2 parts and after putting them on a chart, and reading through it sounds like I am missing something. I get the 2 differant colored bars and the little arrows. Am I missing something? Probably huh? I know there is more to it but, I am just lost I guess.Ignored
Quoting renasdadDislikedyeah it is at the very first post on this thread. click on it. there should be 2 of them.Ignored
Quoting IshaypesokDislikedI'm not a programmer and I don't know how to get the system working?
Coul you please let me know what to do step by step?
Thank you in advance
Ishay PesokIgnored
Quoting cgldsmthDislikedthink the EURUSD reversal may have just begun. will wait for the arrow though.
In terms of TPs with the EJ_4H system, what are people using. One could be the first green candle?
Also, can anyone help me place vegas-type fibs on MT4? I'm having trouble placing them on the chart.
Would also apreciate anyone else's backtesting particularly on cable.Ignored
Quoting holler2meDislikedThank you everyone for the conversation about the Euro/Usd it has been very helpful. I have been wondering about where to place stops and profit targets also for this system.Ignored