EU signals:
AU signals:
Ranging market no trading:
AU night session trading:
AU signals:
Ranging market no trading:
AU night session trading:
- Post #7,741
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- Jun 19, 2015 4:56am Jun 19, 2015 4:56am
- | Membership Revoked | Joined Dec 2014 | 379 Posts
- Post #7,742
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- Jul 27, 2015 11:37am Jul 27, 2015 11:37am
- | Joined Jul 2015 | Status: Junior Member | 1 Post
- Post #7,744
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- Jul 22, 2016 4:38pm Jul 22, 2016 4:38pm
- Joined Nov 2013 | Status: Member | 1,094 Posts
- Post #7,749
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- Edited 11:42am Nov 15, 2022 11:11am | Edited 11:42am
I have been a member of FF since 2017, but decided to change my nickname to my real name, so I'm back to being a newbie!
I've been looking for a suitable thread to post my work in and Phillip Nel's work, at least in the earlier pages, is as close as I could find to mine, so it feels right here. But his work is widely respected so I don't really want to get in the way of that. I hope what I post adds value. And as Phillip is a fellow South African, it feels even more like home! Phillip, if you read this, Groete!
I use an 8/21 EMA strategy. There is nothing special about those two numbers. No magic. You could use Phillip's 10/21 EMAs or 10/25 or 6/15, or 12/35, whatever. But I did not suggest 50/200. Smaller MA numbers means the MAs never get very far from price and there is a reason for that - it gives a visual reference for price behaviour, you can judge almost up to the minute how stretched price is from the MAs and whether it is more likely to undergo a correction (reversion to the mean) or to break away from the mean.
This chart summarises my strategy. It is to wait for a trend to form, as defined by the EMA crossover, then wait for a pullback to (or close to) the EMAs, which I have now discovered is similar to what Phillip teaches, and then enter a trade. I almost always use stop orders, so that if a pullback turns into a reversal, as long as the trade doesn't get triggered, the worst is that I will be left behind as price continue the 'wrong' way. Note that I identified a two-bar pullback setup and two inside bar setups. They all represent a pause at least, or a local consolidation period. And after the multi-IB setup, price exploded away. That's just perfect. I look for that kind of setup all the time.
I've been looking for a suitable thread to post my work in and Phillip Nel's work, at least in the earlier pages, is as close as I could find to mine, so it feels right here. But his work is widely respected so I don't really want to get in the way of that. I hope what I post adds value. And as Phillip is a fellow South African, it feels even more like home! Phillip, if you read this, Groete!
I use an 8/21 EMA strategy. There is nothing special about those two numbers. No magic. You could use Phillip's 10/21 EMAs or 10/25 or 6/15, or 12/35, whatever. But I did not suggest 50/200. Smaller MA numbers means the MAs never get very far from price and there is a reason for that - it gives a visual reference for price behaviour, you can judge almost up to the minute how stretched price is from the MAs and whether it is more likely to undergo a correction (reversion to the mean) or to break away from the mean.
This chart summarises my strategy. It is to wait for a trend to form, as defined by the EMA crossover, then wait for a pullback to (or close to) the EMAs, which I have now discovered is similar to what Phillip teaches, and then enter a trade. I almost always use stop orders, so that if a pullback turns into a reversal, as long as the trade doesn't get triggered, the worst is that I will be left behind as price continue the 'wrong' way. Note that I identified a two-bar pullback setup and two inside bar setups. They all represent a pause at least, or a local consolidation period. And after the multi-IB setup, price exploded away. That's just perfect. I look for that kind of setup all the time.
