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MA Crossover System that works for me

  • #401
  • Jan 31, 2023 3:40am Jan 31, 2023 3:40am
Quoting josi
{quote} This to me sounds like an almost magical belief in a crossover. What does an MA do? It gives you the average price development over a certain period. If price breaks and closes above this average, chances are somewhat higher that the general evaluation of a fair price has altered for the time being, i. e. buying is an option. For your "explosive" example that means: MA100 was retested and price closes above it; so the bias is up and it is a valid buy trade. That principle can be apllied to all MAs; no crossover needed. Just my opinion, of...
There's no magic involved, just a different way of looking at the same thing. Some people are visual, others more technical, probably along a continuum. Each to his own, neither is wrong, please allow space for that.

What I am trying to do in a visual kind of way is become more familiar with what the MAs look like when good trading is to be had and what they look like when things are not going well.
  • #402
  • Jan 31, 2023 4:31am Jan 31, 2023 4:31am
Currently I hv EurCad & GbpCad long running. Trades opened today. Hoping for green pips.
Market environment is unfavorable.

Possibly after NFP, we are able to some good setups.

Eurcad
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GbpCad
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Trade safe. Green pips to all.
  • #403
  • Jan 31, 2023 4:38am Jan 31, 2023 4:38am
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A saw the pin bar in the morning (first arrow). I placed a buy limit which was triggered (second arrow). Euro/Cad 4h.
It is green at the moment.
  • #404
  • Jan 31, 2023 4:38am Jan 31, 2023 4:38am
SIlver - I'll wait for retracement

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  • #405
  • Jan 31, 2023 5:52am Jan 31, 2023 5:52am
Quoting yanah12
Currently I hv EurCad & GbpCad long running. Trades opened today. Hoping for green pips. Market environment is unfavorable. Possibly after NFP, we are able to some good setups. Eurcad {image} GbpCad {image} Trade safe. Green pips to all.
Quoting neilpryde
{image} A saw the pin bar in the morning (first arrow). I placed a buy limit which was triggered (second arrow). Euro/Cad 4h. It is green at the moment.
Nice trades! That pinbar on EURCAD marked on my chart would have been the ideal entry but it opened at my midnight. After that I couldn't find any suitable entry that I felt comfortable with. Be aware of the key resistance level on the weekly chart.
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  • #406
  • Jan 31, 2023 7:27am Jan 31, 2023 7:27am
What will happen next?
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  • #407
  • Jan 31, 2023 7:49am Jan 31, 2023 7:49am
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Cad/Jpy D1, H4, It was a short entry befornoon (CET). A sell stop just below the big round number 97.00.
  • #408
  • Jan 31, 2023 9:57am Jan 31, 2023 9:57am
Quoting josi
What will happen next? {image}
Don't know! But no trade now.

If it goes up (and it's in a strong uptrend right now) I want to see it break above the key resistance level about 70 pips away before going long. If it goes down I want to see the daily also shifting to down (at least the EMAs crossing down and perhaps a lower low or lower high as well) before I feel comfortable selling.

Just looking at the technicals, I think there's a greater chance of a bullish breakout above resistance than a reversal.

My two cents!
  • #409
  • Jan 31, 2023 10:09am Jan 31, 2023 10:09am
Quoting neilpryde
{image}{image}Cad/Jpy D1, H4, It was a short entry befornoon (CET). A sell stop just below the big round number 97.00.
I would have said "Great trade" but the last two hours have seen a sudden move up, probably the economic news coming out of north America. I think this one is on its way out. And I really though it was going to continue down.
  • #410
  • Jan 31, 2023 12:29pm Jan 31, 2023 12:29pm
Quoting AlistairC
{quote} I would have said "Great trade" but the last two hours have seen a sudden move up, probably the economic news coming out of north America. I think this one is on its way out. And I really though it was going to continue down.
This has made it difficult to trade recently. Fortunately, I closed the trade with a small profit before the news. I finished the day with up to 40 pips profit on Euro/Cad (I had a 40 pips capital protection managed by EA) and break even on Cad/Jpy. More news to come in the next few days!
  • #411
  • Jan 31, 2023 9:15pm Jan 31, 2023 9:15pm
Quoting yanah12
Currently I hv EurCad & GbpCad long running. Trades opened today. Hoping for green pips. Market environment is unfavorable. Possibly after NFP, we are able to some good setups. Eurcad {image} GbpCad {image} Trade safe. Green pips to all.
Both trades closed at BE. Difficult market conditions to trade in these 2 weeks.

Tonight FOMC & Friday NFP. Preserve your capital for next week.

Trade safe & green pips to all.
  • #412
  • Jan 31, 2023 9:28pm Jan 31, 2023 9:28pm
Using small lot for this long EurNzd trade. H4 chart looks choppy.

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  • #413
  • Jan 31, 2023 11:31pm Jan 31, 2023 11:31pm
I'm thinking of selling GBPAUD. Price is now below that key support level, D1 and W1 both down.

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  • #414
  • Jan 31, 2023 11:39pm Jan 31, 2023 11:39pm
Quoting AlistairC
I placed this trade yesterday, and as usual these days, it went backwards by almost 50 pips before turning bullish. Next is to see what happens at that upper trend line. {image}
Look what just broke out! I closed the trade quoted above at that upper trend line because I wasn't sure it was ready to break out (upwards). For want of anything better because I had no idea what was going to happen, I used the triple touch concept, and the last touch at the top was the third one.
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  • #415
  • Feb 1, 2023 12:26am Feb 1, 2023 12:26am
Quoting AlistairC
D1 and W1 both down. {image}{image}
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  • #416
  • Feb 1, 2023 2:14am Feb 1, 2023 2:14am
Quoting AlistairC
I'm thinking of selling GBPAUD. Price is now below that key support level, D1 and W1 both down. {image}{image}
My GbpAud short trade.

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  • #417
  • Feb 1, 2023 2:22am Feb 1, 2023 2:22am
Quoting yanah12
Using small lot for this long EurNzd trade. H4 chart looks choppy. {image}
Closed manually with small loss.
  • #418
  • Feb 1, 2023 9:15am Feb 1, 2023 9:15am
Quoting AlistairC
I'm thinking of selling GBPAUD. Price is now below that key support level, D1 and W1 both down. {image}{image}
This trade went into profit several times and when came back again and again. So I closed manually for a small profit.

I was expecting price to drop, and if the downward pressure had been stronger it could easily have done that, but after a time I noticed that an 'open space' had developed between the candles and the 21 EMA, as shown on the chart (josi, that's my visual self talking ) which suggests that price will retrace back to the EMAs. That was enough for me to decide to get out. And, of course, the support just below that josi warned of earlier today was in play too. This is why one of my safety checks is to enter as close to the EMAs as possible.

You can see such open spaces all over the place, and very often, a retracement follows.

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  • #419
  • Feb 1, 2023 9:27am Feb 1, 2023 9:27am
Quoting AlistairC
{quote}after a time I noticed that an 'open space' had developed between the candles and the 21 EMA, as shown on the chart (josi, that's my visual self talking )
interesting criterium, but there was a gap in EURGBP and EURNZD (moving up) and that didn't make the trades any less successful - no criticism; just saying (besides, use - for example - EMA5 and there is no gap etc).
Wrong pair at the wrong time (news-flow), more likely.
  • #420
  • Feb 1, 2023 9:35am Feb 1, 2023 9:35am
Quoting josi
{quote} interesting criterium, but there was a gap in EURGBP and EURNZD (moving up) and that didn't make the trades any less successful - no criticism; just saying. Wrong pair at the wrong time (news-flow), more likely.
Josi, go and have a look - those little spaces very often lead to a small pullback. I clicked on this chart almost randomly and did not go searching for a piece of it that works. Just the last lot of of candles. I have marked those little open spaces, some are miniscule, while others are quite large. But the pattern keeps repeating itself, frequently and, if i may say so, pretty dependably too. So if this is the case, it's worth keeping an eye open for it, surely?
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