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Monthly Profit - Daily Trading using SMA

  • #11,861
  • Jun 10, 2021 7:09pm Jun 10, 2021 7:09pm
Quoting Filipo1
BUY signal on AUDCAD. {image}
No folllow through, RSI unable to break above 50, AUDUSD under resistance = I am out.
I used to be indecisive but now I'm not so sure...
  • #11,862
  • Jun 11, 2021 7:01am Jun 11, 2021 7:01am
Quoting Filipo1
{quote} No folllow through, RSI unable to break above 50, AUDUSD under resistance = I am out.
Thanks Ichimoku! Flat Kijun-sen keeps acting as strong resistance.
Attached Image (click to enlarge)
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I used to be indecisive but now I'm not so sure...
  • #11,863
  • Jul 2, 2021 6:06pm Jul 2, 2021 6:06pm
Hello friends.
Interresting pair to study around Monday evening.
Have a nice weekend.
Oddbjørg.
Attached Image (click to enlarge)
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All the best to all of you. But don't follow me. I am a learner.
  • #11,864
  • Edited Jul 5, 2021 7:57am Jul 4, 2021 6:37pm | Edited Jul 5, 2021 7:57am
Quoting Filipo1
{quote} Thanks Ichimoku! Flat Kijun-sen keeps acting as strong resistance. {image}
Very nice image.

Filipo, curious where you would have entered a short position? (the last and recent one)

Assume: below Kumo. price under both TS and KS, CS has broken into the clear. RSI <50. MACD showing less than dotted line. ---> or maybe you can settle for at least one not meeting the test?

---------------
MTF observations helpful.

Finally, could you briefly explain your preference for the MACD set at 24-52-9 which would produce a slightly later 'qualification' for trade entry. (but possibly with greater success . . .)

Thank you so much.

With best regards to you and Oddbjorg, the pillars of this long running strategy.

FS
  • #11,865
  • Jul 5, 2021 1:42am Jul 5, 2021 1:42am
Quoting Forest-Sea
{quote} Very nice image. Filipo, curious where you would have entered a short position? (the last and recent one) Assume: below Kumo. under both TS and KS, CS has broken into the clear. RSI <50? MACD showing less than dotted line --------------- so probably no use for the sma 5? But . . . you use both the SMA 5 and BB set up as well as Ichi with macd and rsi, at least at times. Finally, could you briefly explain your preference for the MACD set at 24-52-9 which would produce a later 'qualification' for trade entry. (but possibly with greater success...
Thanks for the nice words.
All the best to all of you. But don't follow me. I am a learner.
  • #11,866
  • Jul 5, 2021 2:02pm Jul 5, 2021 2:02pm
Quoting Filipo1
A few interesting screenshots showing convergence between this thread's system and some lines of Ichimoku. Most of the times when SMA5 has been crossed and starts pointing up/down you will have candlestick crossing the tenkan-sen in red. Same for crossing of Bollinger middle band matching with crossing of the kijun-sen in blue. {image} {image} {image}
This is a really nice observation suggesting confirmation. Bravo.
  • #11,867
  • Edited 5:38pm Jul 5, 2021 2:09pm | Edited 5:38pm
For Filipo and those who watch his excellent work.

I really like your postings of the sma5 set up and Ichimoku so as to be visible together. They certainly are not identical, but they are complementary and between them offer great information.

And (a final) question . . . . if you have a qualified entry on the sma 5 set up BUT the price is within the Kumo on the ichi chart do you take or ignore the entry signal from sma? Of course, Ichimoku says no entry from within Kumo, but . . . maybe there are exceptions.

Current EJ D1 chart presents this situation and RSI agrees down with the sma 5.

EDIT: on second look the sma 5 line is virtually flat, so no entry.

Thank you for sharing your experience. The 'in Kumo' question is still, I think a useful one to ask. Definitely mixed signals here.

FS
  • #11,868
  • Jul 12, 2021 7:27am Jul 12, 2021 7:27am
Hello
Interresting pairs.
All the best
Oddbjørg
Attached Image(s) (click to enlarge)
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All the best to all of you. But don't follow me. I am a learner.
  • #11,869
  • Jul 14, 2021 2:26pm Jul 14, 2021 2:26pm
CADCHF has got my attention with a sell signal.

On the daily:
1)today’s candlestick about to close is crossing below SMA5 already pointing down (trend continuation signal).
2)both my favorite oscillators are aligned with the signal.
3)On Ichimoku we can see that bulls could not even reach aligned flat Tenkan and Kijun before price action retraced backwards to finally close negative. More importantly the Chikou finally broke below the Kumo confirming the downtrend continuation.

On the weekly:
1) last week’s candlestick crossed below downward pointing SMA5 and the Bollinger middle band.
2) oscillators are about to confirm the trend reversal and breakthrough of the range observed since early March.
3) On Ichimoku there is no obstacle to the downside until flat Kijun at 0.7220.
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I used to be indecisive but now I'm not so sure...
  • #11,870
  • Jul 14, 2021 2:34pm Jul 14, 2021 2:34pm
Quoting Forest-Sea
{quote} Very nice image. Filipo, curious where you would have entered a short position? (the last and recent one) Assume: below Kumo. price under both TS and KS, CS has broken into the clear. RSI <50. MACD showing less than dotted line. ---> or maybe you can settle for at least one not meeting the test? ---------------

Short entry on April 23



MTF observations helpful. Finally, could you briefly explain your preference for the MACD set at 24-52-9 which would produce a slightly later 'qualification' for trade entry. (but possibly with greater...
[/i]

This modified MACD was suggested in another thread and after some comparisons with regular settings I decided to adopt it. It helps filtering noise.
I used to be indecisive but now I'm not so sure...
  • #11,871
  • Jul 14, 2021 2:37pm Jul 14, 2021 2:37pm
Quoting Forest-Sea
For Filipo and those who watch his excellent work. I really like your postings of the sma5 set up and Ichimoku so as to be visible together. They certainly are not identical, but they are complementary and between them offer great information. And (a final) question . . . . if you have a qualified entry on the sma 5 set up BUT the price is within the Kumo on the ichi chart do you take or ignore the entry signal from sma? Of course, Ichimoku says no entry from within Kumo, but . . . maybe there are exceptions. Current EJ D1 chart presents this situation...
No entry in Kumo is safer but more important for my style of trading is the multi timeframe analysis: checking the monthly charts after monthly close and so on for weekly and daily.
I used to be indecisive but now I'm not so sure...
  • #11,872
  • Jul 15, 2021 1:55am Jul 15, 2021 1:55am
Quoting Filipo1
CADCHF has got my attention with a sell signal. On the daily: 1)today’s candlestick about to close is crossing below SMA5 already pointing down (trend continuation signal). 2)both my favorite oscillators are aligned with the signal. 3)On Ichimoku we can see that bulls could not even reach aligned flat Tenkan and Kijun before price action retraced backwards to finally close negative. More importantly the Chikou finally broke below the Kumo confirming the downtrend continuation. On the weekly: 1) last week’s candlestick crossed below downward pointing...
Similar sell signal seen on USDCHF.
@Forest-Sea I have entered short despite daily price action in the middle of the Kumo because this only indicates there is no clear trend yet but since I have green light in other indicators and weekly timeframe it’s fine for me.
The main challenge remains on crossing below 50% Fibonacci…
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I used to be indecisive but now I'm not so sure...
  • #11,873
  • Jul 15, 2021 4:36pm Jul 15, 2021 4:36pm
Quoting Filipo1
{quote}[/i] This modified MACD was suggested in another thread and after some comparisons with regular settings I decided to adopt it. It helps filtering noise.
Make good sense especially with your MTF approach . . . getting everything lined up for success. Thanks.
  • #11,874
  • Jul 15, 2021 4:39pm Jul 15, 2021 4:39pm
Quoting Filipo1
{quote} Similar sell signal seen on USDCHF. @Forest-Sea I have entered short despite daily price action in the middle of the Kumo because this only indicates there is no clear trend yet but since I have green light in other indicators and weekly timeframe it’s fine for me. The main challenge remains on crossing below 50% Fibonacci… {image} {image} {image} {image}

Excellent presentation of your approach and use of all indicators together. Thanks!
  • #11,875
  • Jul 18, 2021 6:43pm Jul 18, 2021 6:43pm
Hi, I have been studying this strategy for this past week. I tried to find entries today but couldn't find any. Are you guys taking any trades?
  • #11,876
  • Jul 19, 2021 6:39am Jul 19, 2021 6:39am
Quoting sly497
Hi, I have been studying this strategy for this past week. I tried to find entries today but couldn't find any. Are you guys taking any trades?
Hi sly497,

Did you check AUDCHF? A delayed replica of the CADCHF setup explained earlier.

All the best.
I used to be indecisive but now I'm not so sure...
  • #11,877
  • Jul 19, 2021 9:55am Jul 19, 2021 9:55am
Quoting Filipo1
{quote} Hi sly497, Did you check AUDCHF? A delayed replica of the CADCHF setup explained earlier. All the best.
Same goes for AUDJPY.
In fact you could sell almost anything against CHF and JPY with the shockwaves from the stock markets on fears that global growth has already peaked.
I used to be indecisive but now I'm not so sure...
  • #11,878
  • Jul 20, 2021 1:32am Jul 20, 2021 1:32am
Quoting Filipo1
CADCHF has got my attention with a sell signal. On the daily: 1)today’s candlestick about to close is crossing below SMA5 already pointing down (trend continuation signal). 2)both my favorite oscillators are aligned with the signal. 3)On Ichimoku we can see that bulls could not even reach aligned flat Tenkan and Kijun before price action retraced backwards to finally close negative. More importantly the Chikou finally broke below the Kumo confirming the downtrend continuation. On the weekly: 1) last week’s candlestick crossed below downward pointing...
Next TP at 0.7135 where flat SSB and 50% Fibonacci converge.
Attached Image (click to enlarge)
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I used to be indecisive but now I'm not so sure...
  • #11,879
  • Jul 20, 2021 2:25am Jul 20, 2021 2:25am
NZDUSD also sent a trend continuation signal.
On Ichimoku the daily is fine with all lines pointing down and Chikou below candlesticks.
On the weekly SSA, Tenkan and Kijun are also pointing down but beware of Chikou currently limited by flat Kijun just below.
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I used to be indecisive but now I'm not so sure...
  • #11,880
  • Jul 20, 2021 7:00am Jul 20, 2021 7:00am
Question: If the daily candle closes with the 5 SMA passing through it would this be a buy signal according to this stratergy? Also, I am cautious on both currency pairs due to current events. What are your thoughts?
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