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1H Swing Trading on EURUSD

  • #161
  • Edited 9:36am Jan 30, 2020 9:23am | Edited 9:36am
On EU, the signal is now confirmed and It looks like we just began the 20-5 trend ! We'll see where do we go from here...

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 100 KB


EJ has broken 20-4 trend but it's still not following EU as it remains below MA96...

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Click to Enlarge Name: Screenshot3.png Size: 89 KB
Simplicity is the Ultimate Sophistication.
  • #162
  • Jan 31, 2020 1:23am Jan 31, 2020 1:23am
hi brokertrader very nice thread im following your rule i have one question can you please tell me if im wrong or not..
please see the euruusd trendline which one is correct Black or Blue?

one more question euruusd will move in the same direction of eurujyp or it can be move other direction ?
in eurujyp now MA is crossed now but it doesnot follow the rule thats why we didnt add entry of buy
Attached Image (click to enlarge)
Click to Enlarge Name: euruusd.png Size: 44 KB
  • #163
  • Jan 31, 2020 1:33am Jan 31, 2020 1:33am
Please elaborate this problem as well.
you will go for buy or waiting for sell signal?
Attached Image (click to enlarge)
Click to Enlarge Name: eurujyp.png Size: 49 KB
  • #164
  • Jan 31, 2020 1:45am Jan 31, 2020 1:45am
Quoting BurningDesir
hi brokertrader very nice thread im following your rule i have one question can you please tell me if im wrong or not.. please see the euruusd trendline which one is correct Black or Blue? one more question euruusd will move in the same direction of eurujyp or it can be move other direction ? in eurujyp now MA is crossed now but it doesnot follow the rule thats why we didnt add entry of buy {image}
Hi BurningDesir,

Regarding the trend lines, I draw them now using closing prices only, but it's true that it was not the case in the beginning, where I was using sometimes peaks. I have come to the conclusion that closing prices are far more important than peaks which can reflect sometimes rejection areas. so for me the blue line is the right one.
See my chart below:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 102 KB


Regarding EU and EJ, as I said previously they almost follow each other but expect some divergences from time to time.

About the entries on EJ, I added some before the signal was valid on it, just because I was expecting it to follow EU, and that was the case later in the day. So if you hand't entered yet, that being perfectly correct, you could have entered at MA96 cross.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 116 KB
Simplicity is the Ultimate Sophistication.
  • #165
  • Jan 31, 2020 2:10am Jan 31, 2020 2:10am
Thanks For your reply and this beautiful thread.i have lost huge money in forex.
i have tested so many strategies but all are failed but after reading this thread and implementing on this i have gained a confidence again and hopefully in 2020 i will gain some profit.
  • #166
  • Jan 31, 2020 3:22am Jan 31, 2020 3:22am
Quoting BurningDesir
Thanks For your reply and this beautiful thread.i have lost huge money in forex. i have tested so many strategies but all are failed but after reading this thread and implementing on this i have gained a confidence again and hopefully in 2020 i will gain some profit.
You're welcome and sorry for your losses.
That said, you are a bit too fast saying you have gained confidence !

Don't fall in the trap of being too confident and have more losses, the thread exists only since end of December 2019 and I'm trying even myself to master the system the best I can and I sometimes fail ! In the past I also was too enthusiast, entering trades too early, which is my main defect, just to only have to save the trade later taking bigger risks.

So, be warned that even if you like the system like I do, and I'm pleased of it, there will be times when it just won't work, and that's normal, so, limit yourself to EU and EJ only and trade small at the beginning for at least a couple of months until you really gain confidence in it.

I really hope that all will go well for you and all others following and trading this system here and don't hesitate to ask if you are not sure when entering a trade, I'm here to help.

Good Luck !
Simplicity is the Ultimate Sophistication.
  • #167
  • Jan 31, 2020 11:00am Jan 31, 2020 11:00am
yes you are right .forex is not so easy .we have to learn and implement rules again and again and don`t be greedy
once again Thanks for this thread.
  • #168
  • Jan 31, 2020 4:25pm Jan 31, 2020 4:25pm
What a rally we got on EU! it just painted my account in green again !-)

On the contrary, EJ was weak! showing clearly some external force acting over it, certainly the corona virus making JPY strong ?
Not having much pip reserves, I had to reduce my position before the weekend as I don't want to eventually suffer a gap on Monday with a too big position.

Again, the system signaled the change in trend perfectly and smoothly with a 20 pips retracement to the MA96 which was the perfect opportunity to enter again forming the second low point of our 20-5 trend. I will stop trading now until either I'm happy with my profits or I get a sell signal.

We are in the Trend !

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 96 KB
Simplicity is the Ultimate Sophistication.
  • #169
  • Feb 4, 2020 6:28am Feb 4, 2020 6:28am
Again putting my account at risk just for not respecting my own saying (of not touching the initial trade), let's see how this terminates...

I will capitulate at the moment the signal turns bearish. At the time of writing, there is a hole in the trend-line but MA96 and MSRSI are still on the buy side.

A print for later reference
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Click to Enlarge Name: Screenshot1.png Size: 70 KB
Simplicity is the Ultimate Sophistication.
  • #170
  • Feb 4, 2020 9:52am Feb 4, 2020 9:52am
Capitulated and even added some more

The lessons I have to take from this trade are.

1. When a move of 80+ pips is done in one day or two, take the profits and prepare for the next.
2. Build a trade on the first 20-30 pips at beginning of the signal, never later as retracements can just be reversals.


I will now have to start again, focus on doing things right and see if I can rebuild.

Account State :

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 60 KB
Simplicity is the Ultimate Sophistication.
  • #171
  • Feb 4, 2020 9:59am Feb 4, 2020 9:59am
Quoting broketrader
Capitulated and even added some more The lessons I have to take from this trade are. 1. When a move of 80+ pips is done in one day or two, take the profits and prepare for the next. 2. Build a trade on the first 20-30 pips at beginning of the signal, never later as retracements can just be reversals. I will now have to start again, focus on doing things right and see if I can rebuild. Account State : {image}
keep going with it ... i learned a lot with you in this thread ... thanks for all the sharing and explaining
twitter: @gettoefl
  • #172
  • Feb 4, 2020 10:10am Feb 4, 2020 10:10am
Quoting gettoefl
{quote} keep going with it ... i learned a lot with you in this thread ... thanks for all the sharing and explaining
Thank you ! Yes, I will try because I'm still convinced that the system is good. I just have to get rid of my self-destruction behavior and I will be okay.

I just have to find a way...
Simplicity is the Ultimate Sophistication.
  • #173
  • Feb 4, 2020 8:38pm Feb 4, 2020 8:38pm
Quoting broketrader
{quote} Thank you ! Yes, I will try because I'm still convinced that the system is good. I just have to get rid of my self-destruction behavior and I will be okay. I just have to find a way...
Your system is good but you need to have some patience, or please make it automate, this is so far so good, thank you
  • #174
  • Feb 4, 2020 9:07pm Feb 4, 2020 9:07pm
Quoting broketrader
{quote} Thank you ! Yes, I will try because I'm still convinced that the system is good. I just have to get rid of my self-destruction behavior and I will be okay. I just have to find a way...
First trade using this system, lets see how it goes.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 92 KB
From tiny pips mighty oaks grow
  • #175
  • Feb 4, 2020 9:48pm Feb 4, 2020 9:48pm
Quoting Boo15
{quote} First trade using this system, lets see how it goes. {image}
hi Boo, your charts looking very clear, could you please share your indicator and template here, thank you
  • #176
  • Feb 5, 2020 12:49am Feb 5, 2020 12:49am
Quoting ohm
{quote}hi Boo, your charts looking very clear, could you please share your indicator and template here, thank you
Sure here ya go

Attached File(s)
File Type: tpl Swing.tpl   205 KB | 663 downloads
From tiny pips mighty oaks grow
  • #177
  • Feb 5, 2020 4:35am Feb 5, 2020 4:35am
Quoting broketrader
Capitulated and even added some more The lessons I have to take from this trade are. 1. When a move of 80+ pips is done in one day or two, take the profits and prepare for the next. 2. Build a trade on the first 20-30 pips at beginning of the signal, never later as retracements can just be reversals. I will now have to start again, focus on doing things right and see if I can rebuild. Account State : {image}
Yep, that's how winning is done!! Keep moving forward!!!

These are excellent rules for your system given the way the markets are rolling along these days!

1. When a move of 80+ pips is done in one day or two, take the profits and prepare for the next.
2. Build a trade on the first 20-30 pips at beginning of the signal, never later as retracements can just be reversals.
Empty your mind and let the market guide you
  • #178
  • Feb 5, 2020 5:51am Feb 5, 2020 5:51am
After having failed 20-5, here I am on 20-6 on EU

Goals for the trade :

  1. Build the trade on the next 20-30 pips on the signal =>
  2. Let the trade run it's course without adding
  3. Exit on contrarian signal

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 87 KB


As for EJ, I just have anticipated the down move that we saw on EU, nothing more, there is no sell signal there.
Simplicity is the Ultimate Sophistication.
  • #179
  • Feb 5, 2020 3:12pm Feb 5, 2020 3:12pm
Quoting Boo15
{quote} First trade using this system, lets see how it goes. {image}

TP hit....nice
From tiny pips mighty oaks grow
  • #180
  • Feb 8, 2020 9:00am Feb 8, 2020 9:00am
With the goal of making my trading easier and also in the spirit of what the famous Mario once said, "to do whatever it takes" to stay with the trading rules...

I have merged SMA96 and MSRSI in a single indicator that shows of course the SMA96 and a fill color between it and the price which appears in RED on a bear signal and in GREEN on a bull signal. The signal remains active until a new one appears.

Here is how it appears on TradingView:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 82 KB


And on MT4:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 51 KB


MT4 Indicator:
Attached File(s)
File Type: mq4 SmaSRSI96.mq4   13 KB | 1,065 downloads


TradingView Script:
Attached File(s)
File Type: txt SmaSRSI96.txt   6 KB | 769 downloads
Simplicity is the Ultimate Sophistication.
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