Another nice trade today. The EMA crossover took place yesterday, then a pullback to the EMAs that caused a local consolidation to form. I entered this morning on that small pinbar. {image}
Ignored
Target reached. I'm happy that I got there the same day.
A range trade inside the ascending triangle pattern. {image}
Ignored
I saw the downward sloping local trendline (now marked on chart) that might prevent price from going up to the top, so I moved the target down. I've already had a good day, so this will be just a useful top-up.
Hello, I have been very busy lately. Anyway, here are 3 awesome trade setups.{image} {image} {image}
Ignored
Thanks yanah12, these are good setups.
Do you look for Marabozu candles on D1 only? I notice you placed your entries at the tip of the Marabozu candles.
The end of the forex trading day comes at my midnight (or 11 pm during northern daylight saving), so the daily candle close isn't much use to me. What time zone are you in?
Several of the NZD and AUD pairs are coming to the end of a chart pattern like this. Next week could be a fruitful one for anyone who likes to trade breakouts.
Any one of these "pause points" or local consolidations marked on the chart would have worked for an entry on the breakout. Most consolidations, even these local ones, often lead to a breakout.
{quote} Thanks yanah12, these are good setups. Do you look for Marabozu candles on D1 only? I notice you placed your entries at the tip of the Marabozu candles. The end of the forex trading day comes at my midnight (or 11 pm during northern daylight saving), so the daily candle close isn't much use to me. What time zone are you in?
Ignored
Hi AlistairC,
My observation is that candle patterns are more reliable when they are spotted in higher time frame (H4 & above).
I'm residing in Asia. I'm able to trade all 3 sessions but don't trade all the sessions. Once I'm done with my analysis during Asia session, I'll wait for
H4 to give me the trigger. My trades were mostly taken during UK or US sessions. Prefer not to place pending orders, too many fake moves when London
market opens.
After Marubozu candle, the following day, market opened with a gap. Waited for the gap to be closed. Manged to buy JP225 on 31-Mar.
Running with good profits.
I'm normally a bit cautious about entering trades that have been around for a while, but as the daily has resumed a strong down-move after a pullback I went for it.
I'm normally a bit cautious about entering trades that have been around for a while, but as the daily has resumed a strong down-move after a pullback I went for it. {image}
Hi Alistarir, just having started and finishing my 4 week practise on the demo account witha total return of 5,5%, I will be starting my live account in the coming days. Reading this thread I recognize the logic I have been using for my winning trades, but writing it down I do have some difficulty in defining the strategy. As I understand it: after a MA crossover you do not open a trade but you wait for a pullback candle (e.g. in UP-trend, you wait for a candle with a lower high) and then as a confirmation on the trade the pair will need to go a few pips above the high of this candle (in the example of the UP-trend) for you to open a BUY-trade (of course, taking into account your safety-check). Do I see this correct?
MA Crossover System that works for me
