BV Style - M5 PA + 25 EMA on EURUSD

a different perspective.
the head n shoulder in smaller time frames is reflective of higher time frames 3 candle swing.

Nice thread SunnyCoast. Have been trading very similarly for the past years.

Cheers.
Chan.

Yes, a different, but very powerful perspective I think.
As I choose to time the entry of my trades using the 5 minute chart I can easily lose sight of what the HTF traders are watching / seeing.

I believe it helps to answer my 5 "Ws" questions very nicely.

WHO? = Who is in control of the market? Monitor the H1 timeframe 25 ema for slope direction and proximity of price to guide who is it that you wish to trade with.
This Trade = BEARS

WHAT? = H1 - What is the price action telling you on the H1 chart especially 3 Candle Swing (monitor 3rd candle!!)
= M5 - Is there double pressure above/below price?
This Trade = BULLS who were buying here in Asia & London were forced to sell out of their positions when price went south. BEARS were also able to quickly turn around price at the Tokyo Window highs thus trapping any breakout BULLS as well.

WHERE? = Where is price located now? Above / Below the PP, Near DZ or 50 Levels / Getting squeezed on the H1 or M5 EMA
This Trade = BULLS couldn't get price back to the 1.01 and the 1.050 was a magnet for BEARS to target.

WHEN? = Are we trading in the TOKYO, UK or NY windows?
This Trade = 3rd UK Hour coming after a 3 Candle swing of 8:00 / 9:00 / 10:00 candles - 10:00 candle was also bearish hanging man.

WHY? = Why Enter Here?
This Trade = Break of upsloping pattern line with M5 false high bearish candle as signal candle.

a review.
d1 directional bias is down but we have a w1 18jul low support to contend with.
during london session, h1 swing high formed
m5 short set up below 25ema.
price broke through the support.
during new york session, h1 swing low and high formed.
m5 counter trend set up below ema (should be above).
either not take or if taken loss incurred.
then a short set up below ema.

Correction. The long did not trigger on 3rd candle high.

August week 2
overview

Your entry point for long is buy stop 3rd candle high?

yes. all relative to the time frame chart you are looking at, even m1.
the smaller the time frame the more risky.

I have been reading your thread and posts without being a member. New to Forex Factory but not new to trading.

Also been trading this strategy with multi currencies and futures but now only trades with EURUSD and GBPUSD, yes there are bounds to have losses and winners along the way, part of trading but risk management is still the key in any trading strategy. My stops is also at 10 pips and targets is at 30 pips 1:3 risk reward ratio. I trade both directions and will share my entries, stops and targets for only EURUSD if you don’t mind.

Once again thank you.
Chan.

On monday i will be careful because of the previous price rise zone.
i will be looking at the ema slopes and the candle swing of h1 and m30 during the open of london and new york.

Yes, as always anything can happen but with a very quiet news day on the calendar and we are still in August I've decided to run errands on Monday morning rather than try to "search" for trades. If the market does move, I will make note of it and add it to my journal rather than chase it.

The 2 moving averages really show that lovely bearish flow on the Daily and from Thursday on the LTF.
Are they the same number calculation for all timeframes? Like 25ema on the Daily & 25ema on the M30??

my reasons for using two moving average is as follows:

to monitor the momentum of different time frames.
with the slope and separation of the two moving average.

an hourly has 24 candles to make up one day.
using 25 ema is close to measuring the momentum of one day.
the half hourly for half a day.
on daily is close to measuring momentum of one month.
so on and so forth .......

a 25 ema on m30 chart would measure half day momentum.
a 50 ema on m30 chart would measure one day momentum.

the intertwining and flatness of the two moving averages reflect the ranging state of price.
the angle of the slope and separation of the two moving averages reflect the momentum of price.

The Week Ahead

Looks like a good decision so far to just stay on the sidelines for the Tokyo Window.
The bears were able to squeeze below Friday's low and the setups were there but so far there has been zero follow through and the 1.0050 looks to be the price magnet for today so far.

Bulls have shown their hand a little in the final hour of the Tokyo Window.
It remains to be seen how they will stand up in the EU & UK session.

a bear trap enticing seller under previous day low.
price back above today open and asian section ma flattening.
still yet to see whether asian high low has been set.
the parity is a magnet though which could also turn out to be yet another bear trap for the day.

Great trade! Beautiful to see that type of price action for a Monday.

I have had a busy morning and only getting to my desk now so now that the move has already happened I will need to see what sets up later.

having touched parity, they need to go up to gather more ammunition if the intention is to close below there today.
i will wait till the h1 swing low is formed.