EURJPY M15 system 80%+ | Page 29 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/JPY

Similar Threads

EMA & RSI Intraday M15 system 42 replies

Scalping System on M15 12 replies

M5-M15 PHY TRAIN Quantum system 16 replies

Edźwin's M15 system - proverbial construction of flail :) 11 replies

Attachments: EURJPY M15 system 80%+
Exit Attachments

EURJPY M15 system 80%+

  • #561
  • Apr 5, 2018 3:09am Apr 5, 2018 3:09am
April 5, 2018
Buy Target 1 not hit.
Trade closed at loss.

//////////
Attached Image (click to enlarge)
Click to Enlarge Name: EUR-JPY.jpg Size: 114 KB
  • #562
  • Apr 5, 2018 3:45am Apr 5, 2018 3:45am
Quoting eagle85
April 5, 2018 Buy Target 1 not hit. Trade closed at loss. ////////// {image}
It is still in progress. Expect for upside move to 131.70
  • #563
  • Apr 5, 2018 3:45am Apr 5, 2018 3:45am
Quoting eagle85
April 5, 2018 Buy Target 1 not hit. Trade closed at loss. ////////// {image}
Hi Eagle, I have 3 remarks / questions for you.

1. I see you use 21.00 - 01.00 GMT. However, TS use 22.00 - 02.00 GMT...... like I do. Why do you use other time settings?

First I was thinking the white vertical line (Entry Buy =131. 304 was your entry level but of course it is your red line at 131.270, right!

2. According to the rules the blue box have to show in my opinion the open and close prices of the box
Right now and in your picture too, it shows us the high and lows too of the particular Bars......
it is a remark, I know you can't do anything about it but maybe someone can change that?

3. "Trade closed at loss" ?? In your chart the price level doesn't touch the lower limit of the blue price which is R/R 1:1. Maybe you use another R/R like SL is 70% of the Range of the Box? I read it somewhere.

Regards,
Luvene
Keep it simple without too many crappy indicators!
  • #564
  • Apr 5, 2018 4:02am Apr 5, 2018 4:02am
Quoting navk
{quote} It is GANN set to 1 hour. Helps in filtering. I have to back test though.
which result did you get compared to the original system?

Best hundsbua
  • #565
  • Apr 5, 2018 7:15am Apr 5, 2018 7:15am
Breakout ( up ) failed today. The PA must go down. It most probably should break bottom line of box. I did not take the " buy" today. Am I lucky not to take buy?

But 50/20 in 15 min says the PA has exhausted going up for today.
Intraday only.
  • #566
  • Apr 5, 2018 7:20am Apr 5, 2018 7:20am
Quoting navk
Breakout ( up ) failed today. The PA must go down. It most probably should break bottom line of box. I did not take the " buy" today. Am I lucky not to take buy? But 50/20 in 15 min says the PA has exhausted going up for today.
How do you define exhaustion with 50 20 ema. Can you explain witj a chart please
  • #567
  • Apr 5, 2018 7:22am Apr 5, 2018 7:22am
Quoting TheBestMA
{quote} How do you define exhaustion with 50 20 ema. Can you explain witj a chart please
SEE THIS 15 min chart.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM15.png Size: 98 KB
Intraday only.
  • #568
  • Apr 5, 2018 7:27am Apr 5, 2018 7:27am
Quoting hundsbua
{quote} which result did you get compared to the original system? Best hundsbua
I follow the original system only. The stop loss line is 50 ema. ( Not the opoosite of box line ) I do this to have better risk/reward ratio.
Intraday only.
  • #569
  • Edited 8:42am Apr 5, 2018 8:31am | Edited 8:42am
Quoting navk
Breakout ( up ) failed today. The PA must go down. It most probably should break bottom line of box. I did not take the " buy" today. Am I lucky not to take buy? But 50/20 in 15 min says the PA has exhausted going up for today.
Yes, it was a BUY today and was stopped out and if you traded SELL at the bottom it is also SL
  • #570
  • Apr 5, 2018 8:58am Apr 5, 2018 8:58am
Quoting driven18
{quote} Yes, it was a BUY today and was stopped out and if you traded SELL at the bottom it is also SL
no sell yet today.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM15.png Size: 79 KB
Intraday only.
  • #571
  • Apr 5, 2018 9:03am Apr 5, 2018 9:03am
Quoting driven18
{quote} Yes, it was a BUY today and was stopped out and if you traded SELL at the bottom it is also SL
Sell condition was not triggered yet today. I think nfp publish expected
  • #572
  • Apr 5, 2018 9:55am Apr 5, 2018 9:55am
Quoting driven18
{quote} Yes, it was a BUY today and was stopped out and if you traded SELL at the bottom it is also SL
I agree with driven18, if you bought as the chart navk is showing, you were stopped out if you had a hard stop at the entry sell line, if not you were not stopped and you are in the money right now. I was looking for a way of how to maximize the profit targets, and since i know price action and trade candlestick patterns I just use the 1hr timeframe to guide me after I enter a trade whenever a box breakout occurs. TIP! Very important! EUR/JPY ALWAYS! respects the 00 and the 50.. have that in mind and you'll have a better chance of success. If you want to see where I enter just check my trade explorer.. i"m at work and can't post a chart right now.
  • #573
  • Apr 5, 2018 11:33am Apr 5, 2018 11:33am
There are at times consolidation days, not meeting the daily range. Nothing can be done for this.

One must be ready to accept loss on certain days as long as overall gains are there in this method.

Also one can definitely minimize losses by using 50 ema in 15 min chart.

I would not bother to change this system which might lead to more confusions and complications.

The only thing which I did is to use 50 ema / daily open line to get out of wrong trade.
Intraday only.
  • #574
  • Edited Apr 6, 2018 2:36am Apr 5, 2018 11:38am | Edited Apr 6, 2018 2:36am
Hello Luvene,

With the below attached excerpt from Page 1, Post 1 of this forum in mind:

1. I see you use 21.00 - 01.00 GMT. However, TS use 22.00 - 02.00 GMT...... like I do. Why do you use other time settings?

I am currently testing the EUR/JPY breakout strategy using the daily open, 21:00 GMT, described in the EURJPY M15v.PDF attachment located on Page 1, Post 1 of this forum.
----------------------------------------------------------------------------------------------------------------------------
2. According to the rules the blue box have to show in my opinion the open and close prices of the box. Right now and in your picture too, it shows us the high and lows too of the particular Bars......it is a remark, I know you can't do anything about it but maybe someone can change that?

Within the default box range of 15-45 pips, total price action is properly contained within a blue box.
-----------------------------------------------------------------------------------------------------------------------------
3. "Trade closed at loss" ?? In your chart the price level doesn't touch the lower limit of the blue price which is R/R 1:1. Maybe you use another R/R like SL is 70% of the Range of the Box? I read it somewhere.

Though believing EUR/JPY to be at least temporarily overextended, I initially took the long trade but subsequently decided to err on the side of caution and closed it accepting a small loss.

I hope this answers your questions.

//////////
Attached Image
  • #575
  • Apr 5, 2018 12:21pm Apr 5, 2018 12:21pm
Quoting navk
Breakout ( up ) failed today. The PA must go down. It most probably should break bottom line of box. I did not take the " buy" today. Am I lucky not to take buy? But 50/20 in 15 min says the PA has exhausted going up for today.
Hi navk ... may I ask, what kept you from taking the buy? If you are using the original system rules, why didn't you take the buy signal? The price clearly closed above the buy entry point. Also, I have a 20 ema (CornflowerBlue) and a 50 ema (coral) both using the closing price. Mine don't look like yours. Are you using something other than the close to draw these?
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYproM15.png Size: 62 KB
  • #576
  • Apr 5, 2018 4:14pm Apr 5, 2018 4:14pm
Quoting tenthman
{quote} Hi navk ... may I ask, what kept you from taking the buy? If you are using the original system rules, why didn't you take the buy signal? The price clearly closed above the buy entry point. Also, I have a 20 ema (CornflowerBlue) and a 50 ema (coral) both using the closing price. Mine don't look like yours. Are you using something other than the close to draw these? {image}
Yes, it is slightly different than your EMA. But it definitely serves my purpose to get out of trade ( Stop loss )

Use 50 and 20 settings in this attached. Remove the bands.
Attached File(s)
File Type: ex4 #4X 2011 XARD GOLDBANDS 2B.ex4   9 KB | 413 downloads
Intraday only.
  • #577
  • Apr 5, 2018 5:12pm Apr 5, 2018 5:12pm
I'm not saying I want to use your emas ... I'm more interested in why you didn't take the trade to the upside. Thanks.
  • #578
  • Edited 5:32pm Apr 5, 2018 5:21pm | Edited 5:32pm
Quoting tenthman
I'm not saying I want to use your emas ... I'm more interested in why you didn't take the trade to the upside. Thanks.
Good question. Fact is that I slept. Also I was not interested in buy direction as there is resistance. In the past instances I have seen, after a push up in previous day NY session, the price usually retraces. But today ( In tokyo, FF , London session it did not retrace, It means the price will usually go up to Daily R1.
See the picture. From the upper line of box to Daily R1 is not much.

So, I was not interested in taking buy.

In NY session it retraced. But in NY it did not break the daily open line. I was expecting the price will break daily open line and go down to test near to daily pivot ( as per our box system it is close to sell target 1 )

so at the end no trade for me at all.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM15.png Size: 92 KB
Intraday only.
  • #579
  • Apr 5, 2018 6:35pm Apr 5, 2018 6:35pm
Ok ... so you don't go by the rules as set forth by Fxmd. I'm not criticising your decision making process ... especially if you were asleep at the time. I just wanted to know how to avoid trade set-ups that are destined to fail. Thanks for everything that you do.
  • #580
  • Apr 5, 2018 6:41pm Apr 5, 2018 6:41pm
Quoting tenthman
Ok ... so you don't go by the rules as set forth by Fxmd. I'm not criticising your decision making process ... especially if you were asleep at the time. I just wanted to know how to avoid trade set-ups that are destined to fail. Thanks for everything that you do.
The PA has to retrace for every move up in NY, vice versa.

If it does not, then expect resistance or support in Asia/ Frankfurt, London sessions.

I learnt this. Unless it is a strong move.
Intraday only.
4 traders viewing now