EURUSD only

Hopefully, some of you have made a few pips using Tesla 3, the EA I posted on this thread a while back.

You are right. I don´t scalp. I aggressively try and trade all tradeable trends in this market from about 5.00 GMT till 22.00 GMT (the NY Close). I try and take profit and immediately go the other way.

I can do this because I use a customized Stochastic and a Customized MACD.

What you are talking about here, is my customized Stochastic. It allows me to Sell at the Top and to Buy at the Bottom. Even inbetween, the Stochastic Triggers allow me to Enter in the direction of the current strong trend.

The default Stochastic parameters, 14,3,3 are not really very useful in trading this market. They were developed maybe 50 years ago. I only use the 3 for the trigger. You have to experiment and increase the other two, the 14 and the 3 till you get a customized Stochastic that mimics the Price chart. This is quite difficult and takes a lot of time. You have to try many values. When you finally get a customized Stochastic that mimics the price chart on the M10, then use those parameters on all time frames, from M1 to Monthly.

The same for the MACD. The default parameters, 12, 26, 9 are not really very useful in this market. I only use the 9 for the trigger. You have to increase the 12 and the 26 till you get the MACD Signal Line Trend (created by the 9 MA trigger) to mimic the Price chart on the M10. When you finally get to that, use those parameters on all time frames from M1 to Monthly.

I also tell you directly to use the 10 EMA crossing 50 EMA on all your charts from M1 to Monthly. Not the LWMA. The EMA. Study them very, very, very well. You will gain a lot from that.

When you have a Stochastic that mimics the Price Chart on the M10 and use it on all your time frames from M1 to Monthly, you can use that to go Long at the Top and Short at the Bottom properly. Stochastic is about momentum and volatility or thrust. So, when you Enter correctly in terms of your customized Stochastic, you will most of the time enter in the direction of the current strong trend. Once you Entered, wait a few minutes to see that you got it right. When the trend strongly continues in the direction you entered and you can see that it is clearly in that direction, put your SL at BE. Especially at the German, London and NY Opens. If you were to be wrong you get Stopped Out at Zero Loss and you are fine.

You then have a new opportunity to analyze the market correctly.

Once you have your final customized Stochastic and customized MACD, you need to follow this 5 step sequence to Enter: (Experience will tell you when to actually Enter, on 2 or 3 or 4 or 5 or a combination of two or more steps.) Never Enter simply on 1 on any time frame.

1. Price crosses M10 EMA (UP or Down).
2. Stochastic Trigger (UP or Down.)
3. MACD SLT UP or Down Reversal (Signal Line Trend).
4. Stochastic Top or Bottom level.
5. M10 EMA crossing 50 EMA UP or Down.

20 and 80 are standard BUY and SELL levels on the Default Stochastic. Once you have your customized Stochastic that mimics the M10 Price chart, experiment with different bottom Blue Buy Levels (different from the default 20) and different top Red Sell Levels (different from the default 80) on all the time frames, especially your entry time frame and the next three time frames after that.

Use the MT5 Platform. First Insert the Stochastic and use your customized parameters on all time frames. Then overlay the MACD on it. Go to View, Navigator, Indicators, Oscillators. Click on MACD. Then drag it onto the Stochastic below your Price Chart. Let go. It will be overlayed on you Stochastic. Use your customized MACD parameters.

Indicate all Stochastic Divergences on your all your charts with a D and all MACD Divergences with a d. Obviously, Divergence or, better, Double Divergence (Stochastic and MACD) on as many time frames as possible is a very good signal. Experience will help you to use this a lot.

You need a lot of experience and testing till you have absolutely proven trading rules.

I hope this helps you.

You should have an absolutely proven rule that tells you that the market is going to reverse and that this trend is over. No-one on earth knows how far a trend will go. Where do you get the 60 pips from? You don´t need to know or guess. Develop that absolutely proven rule that tells you when the market is Reversing. A good starting point is the 10 EMA crossing the 50 EMA on all time frames. Then you Take Profit and go the other way, but, only when you get a valid Signal, if it were still to be during the main market session.

looks good, any chance you have a link to that post?

I invite you to my profile. Click on files uplaoded and you'll find it quickly.

it is not working when i place it on my chart any idea

It uses no custom indicators so it should work without any issues. The one I posted on the thread is the same one in the image above.

that'll work..thanks, brother!

stand on the other side of the room and turn the volume waaaaayyyy up.
good luck,
regards
goma

What caused this spike?

Buyers

So good....I second that.....buyers cause the spike

Got stopped out initially but made my day green again by heavy long from 1.1535 to 1.1560. all closed. Looking forward for tomorrow. Stay Green. Thanks.

Maybe this news

https://www.forexfactory.com/news.php?do=news&id=817061

Though I expected buyers to come in @ 1.1530 which they did, but never expected such a fast move.

Doubt it has anything to do with that news.

Kk. Thanks

Elliot.
Eu reached point 4 , after abc correcion , and its time to start a new 5 waves up move

just added euro long @ 1.1550 .. T1 1.1920 .. T2 1.2025 .. happy trade to yall

Hmmmm. We're under the MA, under the LO and banging the bottom where price went flat for 5 hours. I need more proof to go long. Good luck.