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Roadmap - A Way To Read Markets

  • #4,601
  • May 24, 2021 9:22am May 24, 2021 9:22am
Watch to see if we get cross or failure at the SMA

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  • #4,602
  • May 24, 2021 1:44pm May 24, 2021 1:44pm
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  • #4,603
  • May 25, 2021 4:33am May 25, 2021 4:33am
EURJPY trade closed

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  • #4,604
  • May 25, 2021 7:17am May 25, 2021 7:17am
Quoting swingtrade65
{quote} Hi.....You are correct, the entire channel must cross for a proper entry. Sometimes, I jump in before the entire channel crosses in anticipation of the cross. This is a more risky entry and WILL result in more losing trades. However, I am willing to take that gamble on occasion because when they do work you are in early and can add to a winner on the first retracement (See AUDJPY trade from earlier today) When they work it generally is very easy money. Lt Blue is the 8 EMA. and it was the cross that I was trading. The reddish color is a...
If your second template only has one more 55EMA channel then you can use attached indicator with button to show/hide 55EMA channel
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File Type: ex4 MA_HL_Channel-button_v2.ex4   17 KB | 417 downloads
File Type: mq4 MA_HL_Channel-button_v2.mq4   5 KB | 536 downloads
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Dices Return This Week: na
  • #4,605
  • May 25, 2021 7:28am May 25, 2021 7:28am
Quoting swingtrade65
EURJPY trade closed {image}
Hi, did u exit because of the spike or adr high?
Arun
  • #4,606
  • May 25, 2021 9:39am May 25, 2021 9:39am
everything seems to show a short entry could be tried.....apart from the quite high RSI value (around 70) and the dashboard really too "green"...
also the bullish trendline has been broken.

the daily open could represent a support


any opinion is welcome...thanks
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  • #4,607
  • May 25, 2021 10:02am May 25, 2021 10:02am
Just be patient and wait for the full cross. Then look at the RSI but it is too high for me right now
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  • #4,608
  • May 25, 2021 10:03am May 25, 2021 10:03am
Quoting arunthegreat
{quote} Hi, did u exit because of the spike or adr high?
ADR exit
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  • #4,609
  • May 25, 2021 10:05am May 25, 2021 10:05am
Quoting swingtrade65
Just be patient and wait for the full cross. Then look at the RSI but it is too high for me right now
yes thanks....too many elements suggest to stay away and look for other opportunities
  • #4,610
  • May 25, 2021 11:30am May 25, 2021 11:30am
Another to watch and see what it does from here

I am still learning this method so posting all of these ideas helps me tremendously

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  • #4,611
  • May 25, 2021 3:27pm May 25, 2021 3:27pm
Quoting swingtrade65
Another to watch and see what it does from here I am still learning this method so posting all of these ideas helps me tremendously {image}
An entry long could be' attempted here....exploiting the Rsi value and the dashboard look...but mostly the fact that the trend appears quite bullish....
The 200 Smart, the previous day high and the other channel in blue (??) all could act as support.

That's my view....
  • #4,612
  • May 26, 2021 10:56am May 26, 2021 10:56am
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  • #4,613
  • May 27, 2021 5:52am May 27, 2021 5:52am
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  • #4,614
  • May 27, 2021 7:12am May 27, 2021 7:12am
look at the picture....and the sudden rejection of the ADR low just after its blocking ...millimetric precision reaction
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  • #4,615
  • May 27, 2021 7:34am May 27, 2021 7:34am
I see people saying that it makes no difference, an exponential average of 200 or simple average, within this system it shouldn't make a difference, right?
Because there are other factors, has anyone put both to see if it makes a difference in performance?
  • #4,616
  • May 27, 2021 7:40am May 27, 2021 7:40am
Quoting Sorobanista
I see people saying that it makes no difference, an exponential average of 200 or simple average, within this system it shouldn't make a difference, right? Because there are other factors, has anyone put both to see if it makes a difference in performance?
Why don't you try it and let us know the results.
  • #4,617
  • May 27, 2021 7:42am May 27, 2021 7:42am
Quoting lemercenaire
{quote} Why don't you try it and let us know the results.
That's what I started to do now, my hope was to see the experience of someone who has already done.
  • #4,618
  • May 27, 2021 7:43am May 27, 2021 7:43am
Quoting Sorobanista
{quote} That's what I started to do now, my hope was to see the experience of someone who has already done.
Good stuff. Will be interesting to see your take on it.
  • #4,619
  • May 27, 2021 8:02am May 27, 2021 8:02am
Quoting Sorobanista
{quote} That's what I started to do now, my hope was to see the experience of someone who has already done.
Why in your opinion should the EMA bring any dfference (vantage or penalty) w.r.t. SMA?
Theoretically, having in principle the EMA follow "closer" the trend of the price than SMA does not bring to me any hint for a possible benefit.

However, how would you experiment on that?
I personally would:
1- try a simple estimation of the typical difference (actually a simple statistics of the difference, i.e. min/max/mean, computed over for example a one-day period) in pips between the two averages (SMA and EMA)....of course this difference is depending on the timeframe
2- assess if this difference is significantly higher then the "acuracy" you would use to place your entry and exit orders


just simple and maybe wrong thoughts
  • #4,620
  • May 27, 2021 8:14am May 27, 2021 8:14am
Quoting tesiag
{quote} Why in your opinion should the EMA bring any dfference (vantage or penalty) w.r.t. SMA? Theoretically, having in principle the EMA follow "closer" the trend of the price than SMA does not bring to me any hint for a possible benefit. However, how would you experiment on that? I personally would: 1- try a simple estimation of the typical difference (actually a simple statistics of the difference, i.e. min/max/mean, computed over for example a one-day period) in pips between the two averages (SMA and EMA)....of course this difference is depending...
I think the good performance is in which price is most of the time above or below, in the example I took below with the M15 Chart Media, which I consider that it works more finely with the price the result was better with the simple media which is white.
Thinking better think that simple should be better.
Because in the case of the average 8 of the channel is exponential, perhaps in that case it does not make a difference.
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