My 2022 strategy - Guppy MAs with ATS to define consolidation (Blue Boxes) areas, trend areas and daily profits. {image}
can you share your 2022 strategy in details?
your inputs are very much appreciated
Guppy's Multi-Moving Average (GMMA)
- #201
- Jan 23, 2022 9:33am Jan 23, 2022 9:33am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
can you share your 2022 strategy in details?
your inputs are very much appreciated
- #206
- Jan 24, 2022 12:28am Jan 24, 2022 12:28am
Following walvekarraje's method I placed a sell stop order at the base of the breakout candle. As far as I can see all the criteria have been met. A concern is that there is a support level not far below. This is where I have placed my target.
- #207
- Jan 24, 2022 1:23am Jan 24, 2022 1:23am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
Following walvekarraje's method I placed a sell stop order at the base of the breakout candle. As far as I can see all the criteria have been met. A concern is that there is a support level not far below. This is where I have placed my target. {image}
make these settings to mt4 fib tool
apply fib to the swing high and your breakout candle.
best of luck.
- #208
- Edited 2:14am Jan 24, 2022 1:30am | Edited 2:14am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
todays entry
LT Group in perfect alighenment
candle close below chanel
rsi in proper order
50% retracement
candle close below chanel
rsi in proper order
50% retracement
- #209
- Jan 24, 2022 5:16am Jan 24, 2022 5:16am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
use of fib to check if trade is in your direction or not.
to stay in trade and carry your position for tomorrow ?
fib applied from previous swing low to swing high.
note that the bullish candle did not cross 50% mark.
and the last candle was bearish.
so the trend is intact.
so will carry trade for tomorrow.
now that todays close is fairly away fron my entry price, i will shift my stoploss to BE tomorrow at market open. this way even if market reverses tomorrow at least i will not loose money.
to stay in trade and carry your position for tomorrow ?
fib applied from previous swing low to swing high.
note that the bullish candle did not cross 50% mark.
and the last candle was bearish.
so the trend is intact.
so will carry trade for tomorrow.
now that todays close is fairly away fron my entry price, i will shift my stoploss to BE tomorrow at market open. this way even if market reverses tomorrow at least i will not loose money.
- #210
- Jan 24, 2022 5:32am Jan 24, 2022 5:32am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
fib to set targets
now the fib is applied from the low of breakout/ entry candle (candle closing below ema chanel) to the previous swing high.
note that target 1 is above the previous support and target 2 is below it. if the trend is strong the probablity of hitting targets is fairly high.
finally tomorrow after market open if price retraces above 50% and/or my BE stoploss is hit.... i will be out of the trade.
if not i will wait for my targets.
now the fib is applied from the low of breakout/ entry candle (candle closing below ema chanel) to the previous swing high.
note that target 1 is above the previous support and target 2 is below it. if the trend is strong the probablity of hitting targets is fairly high.
finally tomorrow after market open if price retraces above 50% and/or my BE stoploss is hit.... i will be out of the trade.
if not i will wait for my targets.
- #211
- Edited 6:10am Jan 24, 2022 5:38am | Edited 6:10am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
{quote} so many lines to choose from (23, 38, 50, etc), price has a high probability of reaching one of them.
Plan the trade and then Trade the plan.
fib to set targets {image} now the fib is applied from the low of breakout/ entry candle (candle closing below ema chanel) to the previous swing high. note that target 1 is above the previous support and target 2 is below it. if the trend is strong the probablity of hitting targets is fairly high. finally tomorrow after market open if price retraces above 50% and/or my BE stoploss is hit.... i will be out of the trade. if not i will wait for my targets.
- #213
- Jan 24, 2022 7:33am Jan 24, 2022 7:33am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
{quote} Like this? (This is the same EURUSD H4 trade as recently posted). {image}
- #214
- Jan 24, 2022 7:41am Jan 24, 2022 7:41am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
{quote} Like this? (This is the same EURUSD H4 trade as recently posted). {image}
Book profit 1) targets reached 2) the 6 rsi goes below 20 level .
you can opt to remain in trade till rsi 6 is below rsi 12 or candles are closing outside ema chanels
- #215
- Edited 8:32am Jan 24, 2022 7:55am | Edited 8:32am
{quote} it looks that the price is significantly away from your entry. also the wick has crossed your previous support. so time to move stoploss to BE. Book profit 1) targets reached 2) the 6 rsi goes below 20 level . you can opt to remain in trade till rsi 6 is below rsi 12 or candles are closing outside ema chanels
I found this below, my comments in blue
During trade : remain in trade till
all candle close outside 10 ema channel.
rsi 6 should remain below rsi 12. So if the 6 RSI closes above the 12 rsi,
if any of above fail, book partial profit and trail rest on ema 10 high.
Targets as per fibo extension. T1 for 1 lot T2 book full profit. So the targets apply if none of the above things go wrong and the trade survives?
- #216
- Jan 24, 2022 8:45am Jan 24, 2022 8:45am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
{quote} I wouldn't say that price is significantly away from the entry - it's about 16 pips away, not even 1R yet. Let me go back and look for your exit rules. That might help clarify. I found this below, my comments in blue During trade : remain in trade till all candle close outside 10 ema channel. So in a sell trade, if the entire candle, body, wicks, the lot closes BELOW the channel we close 100% of the trade, is that a correct understanding? That doesn't sound right. I think you mean all candles in a sell trade should CLOSE below the channel,...
in a sell trade as long as the candle closes below the 10 low ema . the trend is strong even if it is a bullish candle. so remain in the trade.
in a sell trade if rsi 6 closes above rsi 12, but as long as both are below 50, you can still be in trade but you need to watch the price action and decide accordingly.
but if rsi 6 closes above 50 . definately book profits, partial or total depends on you.
i like to take fibo targets because if you are trailing, it takes a lot of time for the 10 high ema ( in a sell trade) to reach that level and you may get stopped in between.
rules are guidelines ....... after all " the holy grail is between our ears."
- #218
- Jan 24, 2022 10:36am Jan 24, 2022 10:36am
Hey Rajesh, you did say that price sometimes reacts precisely to fibo levels. Well, how's this? Even though it seems such a random thing, it reacted almost exactly. Like magic. I was out when price reached T1, and you can see what happened.
Taking partial profits is a problem for me because I don't think one can set partial targets on MT4, so it has to be done manually. If anyone knows how to set them via MT4 please share it.
Taking partial profits is a problem for me because I don't think one can set partial targets on MT4, so it has to be done manually. If anyone knows how to set them via MT4 please share it.
