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  • #1
  • First Post: Aug 27, 2017 5:50am Aug 27, 2017 5:50am
Hey Gang,

Here is another strategy, very profitable and easy to follow.

LONG TRADE:

* 1HR Chart.
* 6 (CLOSE) EMA
* Wait for a candle that is below 6 EMA and doesn't touch 6 EMA.
* Wait for next candle that touches the 6 EMA.
* From the candle touching 6 EMA, count 10 candled backward and forward and draw a line from 10 candles forward to high of 10 previous candles.
* Wait for the candle to close above this line drawn and the next candled to retrace back to that line for long trade with SL of 5pips below the low of candle not touching the 6 EMA.
* TP 2 or 3 times of risk.

See below.
Attached Image (click to enlarge)
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  • #2
  • Aug 27, 2017 5:52am Aug 27, 2017 5:52am
Quoting abhirag
Hey Gang, Here is another strategy, very profitable and easy to follow. LONG TRADE: * 1HR Chart. * 6 (CLOSE) EMA * Wait for a candle that is below 6 EMA and doesn't touch 6 EMA. * Wait for next candle that touches the 6 EMA. * From the candle touching 6 EMA, count 10 candled backward and forward and draw a line from 10 candles forward to high of 10 previous candles. * Wait for the candle to close above this line drawn and the next candled to retrace back to that line for long trade with SL of 5pips below the low of candle not touching the 6 EMA....

Just do the opposite for short trades.
  • #3
  • Aug 27, 2017 6:37am Aug 27, 2017 6:37am
Let me make the TP more clear, I use ABCD pattern to see where the price could possibly go depending upon how much it has retraced and I adjust my TP. see below for ex.

Once the price hit D, I close half position and rest wait for 2 times of risk.
Attached Image
  • #4
  • Aug 30, 2017 8:34pm Aug 30, 2017 8:34pm
This is beauty of this technique, of course needs a little patience. Once you draw the line as described in first post. 2 things can happen.

Either the candle will break and close above/below the line OR will reverse. So I shorted again on AU the moment it hit the line drawn then just wait. If the candle closes above the line then get out of trade and wait for long trade (Once the candle touch the line again from above.) OR enjoy the short if it reverse.
Attached Image (click to enlarge)
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  • #5
  • Aug 30, 2017 9:04pm Aug 30, 2017 9:04pm
You don't really have a clue do you?
  • #6
  • Aug 30, 2017 9:14pm Aug 30, 2017 9:14pm
Oh god...
Fall seven times, stand up Eight! #GGMU
  • #7
  • Aug 30, 2017 10:12pm Aug 30, 2017 10:12pm
Quoting Warburg
You don't really have a clue do you?
Sorry, what are you looking for?
  • #8
  • Aug 31, 2017 10:07am Aug 31, 2017 10:07am
Quoting Warburg
You don't really have a clue do you?
Strategies like this have been working for decades. They just don't work for you. This is similar to one of techniques linda raschke used to teach.
Ecclesiastes 1:9
  • #9
  • Aug 31, 2017 10:11am Aug 31, 2017 10:11am
Quoting abhirag
{quote} Sorry, what are you looking for?
Keep posting and don't react to the naysayers. I would like to hear more.
Ecclesiastes 1:9
  • #10
  • Sep 2, 2017 6:38am Sep 2, 2017 6:38am
Short time trading approach scalping is really profitable but scalpers first of all have to ensure lowest trading spreads for bringing profit by using this approach with surely. I want to know by using EUR/USD trading pair is it possible to scalp comfortably. ?
  • #11
  • Edited 7:28am Sep 2, 2017 7:07am | Edited 7:28am
Would be handy to know what pair I am looking at in your screenshots. I wonder that since you are going back 10 candles and forward 10 candles, if you should be using a 20 moving average somehow. But cannot do that analysis because I cannot duplicate your screenshot.

Edit:
I think Post 4 is AUDUSD, so I tried to line up your lines. It shows a space of 24 candles, not 20, but it is hard to see when your pic is so compressed. I added SMA 20 and it looks like your trend lines are its tangent, so it might be worth your while to check it out. Good Luck.
You cannot be extraordinary by being normal
  • #12
  • Sep 2, 2017 7:47am Sep 2, 2017 7:47am
Quoting dkrock
Would be handy to know what pair I am looking at in your screenshots. I wonder that since you are going back 10 candles and forward 10 candles, if you should be using a 20 moving average somehow. But cannot do that analysis because I cannot duplicate your screenshot. Edit: I think Post 4 is AUDUSD, so I tried to line up your lines. It shows a space of 24 candles, not 20, but it is hard to see when your pic is so compressed. I added SMA 20 and it looks like your trend lines are its tangent, so it might be worth your while to check it out. Good Luck....
Read first post
It's 6 EMA on hourly chart
  • #13
  • Sep 2, 2017 7:52am Sep 2, 2017 7:52am
Quoting dkrock
I wonder that since you are going back 10 candles and forward 10 candles, if you should be using a 20 moving average somehow.

That part isn't a moving average.

The high of the 10 previous candles is called the upper line of a "10 period Donchian channel".
  • #14
  • Sep 2, 2017 8:07pm Sep 2, 2017 8:07pm
Quoting FxCba
{quote} Read first post It's 6 EMA on hourly chart
Sorry but I don't have a currency pair called 6 EMA.
You cannot be extraordinary by being normal
  • #15
  • Edited 8:31pm Sep 2, 2017 8:08pm | Edited 8:31pm
Quoting Quickly
{quote} That part isn't a moving average. The high of the 10 previous candles is called the upper line of a "10 period Donchian channel".
Yeah, no idea what you are talking about, but 10 back + 10 forward = 20 periods. If you want to play with Donchain channels, all good. I am not interested in them. Thanks. I am looking at a much more advanced analysis. I am a computational and graphical statistician. I want to analyze the possibility of using moving averages in place of the trend lines to simplify this trading pattern. I cannot do it since I do not know what pair is being shown. My initial analysis shows the trend lines are tangents to the curve...which means the lines and the moving average come into contact with each other. Drawing a trend line from a point 10 periods back to a point 10 periods forward is a 20 period moving average measurement. I would like to see if there is a consistent trading rule applicable to limit head fakes and define the areas of the swing between signals.
You cannot be extraordinary by being normal
  • #16
  • Sep 4, 2017 12:15am Sep 4, 2017 12:15am
looks like there is more to add here. I will post more charts with example in short while.
  • #17
  • Sep 4, 2017 12:47am Sep 4, 2017 12:47am
This is GBPUSD trade on daily chart, taken on 30 Aug 2017.
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  • #18
  • Sep 4, 2017 12:53am Sep 4, 2017 12:53am
Here is EURUSD long trade taken on 31 Aug.
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  • #19
  • Sep 4, 2017 1:00am Sep 4, 2017 1:00am
keep explain and show more results
  • #20
  • Sep 4, 2017 1:38am Sep 4, 2017 1:38am
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