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Magic 100

  • #161
  • Apr 9, 2020 2:10am Apr 9, 2020 2:10am
Quoting Lajit
{quote} No you are wrong, price is trading above 100SMA, so you should only place buy orders, no sell orders. Lajit
Hi,

So what you mean is, the decision to buy/sell is dependent on whether the candle is above/below the 100SMA, and its overall trend?

Thanks
  • #162
  • Edited 5:13am Apr 9, 2020 3:50am | Edited 5:13am
Quoting matthewcyx
{quote} Hi, So what you mean is, the decision to buy/sell is dependent on whether the candle is above/below the 100EMA, and its overall trend? Thanks
Yes, above 100EMA = only buy, below EMA = only sell, the candles you are looking for are the retracement candles, candles with the opposite color, so if price is trading ABOVE 100EMA, then look for the RED candle and place buy stop at the TOP of the closed red candle, SL at the bottom. (you expect price to go higher)

when price is UNDER 100EMA, then you look for GREEN candles and place an sell stop at the BOTTOM of the closed green candle and SL at the top of the closed green candle. (you expect price to go lower)

Best is to avoid ranging markets, as traders earlier suggested it is the best to start off from the 4 hour or even the daily time frame. I would suggest to look at the 4 hour chart and look for entries on the 1hr chart.

Hope my explanation made things clear

Lajit


ps. edited SMA to EMA conform the strategy in post 1
  • #163
  • Apr 9, 2020 3:52am Apr 9, 2020 3:52am
Quoting Minotawr
EUR/CAD beautiful doji entry, love it... Update: hit my TP for 3R {image}
Look at this picture, please
Attached Image (click to enlarge)
Click to Enlarge Name: que.png Size: 72 KB
  • #164
  • Apr 9, 2020 3:54am Apr 9, 2020 3:54am
Quoting Lajit
{quote} Yes, above 100SMA = only buy, below SMA = only sell, the candles you are looking for are the retracement candles, candles with the opposite color, so if price is trading ABOVE 100SMA, then look for the RED candle and place buy stop at the TOP of the closed red candle, SL at the bottom. (you expect price to go higher) when price is UNDER 100SMA, then you look for GREEN candles and place an sell stop at the BOTTOM of the closed green candle and SL at the top of the closed green candle. (you expect price to go lower) Best is to avoid ranging...

Hi Lajit,

Thanks a lot for your help!! i managed to cancel my sell order at a small cost and enter the market with a buy order thanks to you

Cheers!
  • #165
  • Apr 9, 2020 4:47am Apr 9, 2020 4:47am
Quoting Lajit
{quote} Yes, above 100SMA = only buy, below SMA = only sell, the candles you are looking for are the retracement candles, candles with the opposite color, so if price is trading ABOVE 100SMA, then look for the RED candle and place buy stop at the TOP of the closed red candle, SL at the bottom. (you expect price to go higher) when price is UNDER 100SMA, then you look for GREEN candles and place an sell stop at the BOTTOM of the closed green candle and SL at the top of the closed green candle. (you expect price to go lower) Best is to avoid ranging...
===
Without any disrespect Lajit, the very first post says 100-EMA (check it out please).
Best,
Hercs.
Hercs
  • #166
  • Apr 9, 2020 4:59am Apr 9, 2020 4:59am
Quoting fsbr
{quote} OH...sorry, my fault and a few questions 1. I long at break previous high, but at the same candles, it break previous low, will you SL? or you will wait candle closed to decide SL? 2. entry Long and then met 2R, you will wait to meet 3R or close ALL order? if wait 3R, how to determine ? Sorry for my bad english
No problem.

1. Always wait for the candle close. Since the candle is formed, you set up your order
2. I recommend hard stops and takeprofits. 3R is best.
  • #167
  • Apr 9, 2020 4:59am Apr 9, 2020 4:59am
Hi Minotawr,
Is this marked candle, the correct one to work from as it is the last "Green-candle" in the retrace?
Thank you for replying and making life so much better seeing what the price may/or may not do in the next candle.
Continued success to you.
Hercs.
PS. What are you using to determine the levels of TP as seen on your charts, please?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 23 KB
Hercs
  • #168
  • Apr 9, 2020 5:05am Apr 9, 2020 5:05am
Quoting matthewcyx
hi, i followed your method and entered GJ, am I on the right track? {image}
Hi Matt,

its important to follow the trend, because it`s not your enemy

GBP/JPY
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1.png Size: 32 KB
  • #169
  • Apr 9, 2020 5:07am Apr 9, 2020 5:07am
Quoting Lajit
{quote} Yes, above 100SMA = only buy, below SMA = only sell, the candles you are looking for are the retracement candles, candles with the opposite color, so if price is trading ABOVE 100SMA, then look for the RED candle and place buy stop at the TOP of the closed red candle, SL at the bottom. (you expect price to go higher) when price is UNDER 100SMA, then you look for GREEN candles and place an sell stop at the BOTTOM of the closed green candle and SL at the top of the closed green candle. (you expect price to go lower) Best is to avoid ranging...
Thanks Lajit, good explanation. But its really the 100 EMA
  • #170
  • Apr 9, 2020 5:12am Apr 9, 2020 5:12am
Quoting Minotawr
{quote} Thanks Lajit, good explanation. But its really the 100 EMA
Hi Minotawr
Thank you for clarifing haha, i was using the SMA, just changed it to EMA. I'll also edit my post.
The rules are very simple. People just need to follow them. Simple rules are simply the best.
Thank you again and green pips!!
  • #171
  • Apr 9, 2020 5:13am Apr 9, 2020 5:13am
Quoting 90patrick
{quote} Look at this picture, please {image}
Hi Patrick,

1. arrow: was a trade
2. arrow: no need to go in this trade. The down move was allready done + not a clear retracement
3. arrow: was an actual trade
4. arrow: no need to trade, since i was allready in my short
  • #172
  • Apr 9, 2020 5:20am Apr 9, 2020 5:20am
Quoting Minotawr
{quote} Thanks Lajit, good explanation. But its really the 100 EMA
I have another question to you. Please check the attached image.
What are you doing in the situation that you get an better entry than previous candle.
Would you recalculate your 2R and 3R based on the new candle or would you set the 2R and 3R based on the previous one?

image is an actual H1 screenshot of the EURNZD now.

Lajit
Attached Image
  • #173
  • Apr 9, 2020 5:26am Apr 9, 2020 5:26am
Quoting Hercs
Hi Minotawr, Is this marked candle, the correct one to work from as it is the last "Green-candle" in the retrace? Thank you for replying and making life so much better seeing what the price may/or may not do in the next candle. Continued success to you. Hercs. PS. What are you using to determine the levels of TP as seen on your charts, please? {image}
Hi Hercs, thank you and welcome.

Well, i don`t really understand your question. I`ve marked my possible entry...

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 16 KB



Quoting Hercs
PS. What are you using to determine the levels of TP as seen on your charts, please?
Please read the thread, i`ve answered this a several times allready
  • #174
  • Apr 9, 2020 5:28am Apr 9, 2020 5:28am
Quoting matthewcyx
{quote} Hi Lajit, Thanks a lot for your help!! i managed to cancel my sell order at a small cost and enter the market with a buy order thanks to you Cheers!
You are welcome!
Green pips to you
  • #175
  • Apr 9, 2020 5:30am Apr 9, 2020 5:30am
Quoting Hercs
{quote} === Without any disrespect Lajit, the very first post says 100-EMA (check it out please). Best, Hercs.
Hi Hercs,
thanks for mentioning it to me! Minotawr replied the same I have changed my posts according to the original strategy in the first post.
Best of luck
  • #176
  • Apr 9, 2020 5:30am Apr 9, 2020 5:30am
Quoting Lajit
{quote} I have another question to you. Please check the attached image. What are you doing in the situation that you get an better entry than previous candle. Would you recalculate your 2R and 3R based on the new candle or would you set the 2R and 3R based on the previous one? image is an actual H1 screenshot of the EURNZD now. Lajit {image}
Yes, you move your pending order higher and recalculate your levels, based on the new candle. In this case you get a better entry.

But be carefull, itīs an ugly range, not a clear retracement
  • #177
  • Apr 9, 2020 5:46am Apr 9, 2020 5:46am
Quoting Minotawr
{quote} Yes, you move your pending order higher and recalculate your levels, based on the new candle. In this case you get a better entry. But be carefull, itīs an ugly range, rather then a clear retracement
Thank you for your fast respons

Yes i see it, it is indeed an ugly range. If you zoom the 4hr chart out you can see the overall direction and that it wants to return to the gap this pair created begin March, however, the pair also seems exhausted for this week. Thanks for the warning.
  • #178
  • Apr 9, 2020 5:59am Apr 9, 2020 5:59am
In on the GJ:
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1 09_04.png Size: 57 KB
Everything should be made as simple as possible, but no simpler - Einstein
  • #179
  • Edited 9:16am Apr 9, 2020 7:28am | Edited 9:16am
Quoting Minotawr
{quote} Hi Patrick, 1. arrow: was a trade 2. arrow: no need to go in this trade. The down move was allready done + not a clear retracement 3. arrow: was an actual trade 4. arrow: no need to trade, since i was allready in my short
Thank you.
I have more questions:
How is look MM for you positions?
Do you using Trailing Stop ?

AND how long this strategy is profitable for you? How long have you been using this ??

Thank you.
  • #180
  • Apr 9, 2020 8:38am Apr 9, 2020 8:38am
Holy sh*t !!! What a great day so far. I hope you catch some big moves...AUD pairs are driving mad. I have add positions to my yesterday trades

Just incredible

Be patient, stay humble and see the magic hapen!
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