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MA Crossover System that works for me

  • #781
  • May 19, 2023 3:46am May 19, 2023 3:46am
Quoting AlistairC
{quote} Welcome to this thread, apo! You seem to have it worked out already, based on this EURJPY analysis. I placed a trade on this pair a few minutes ago. D1 is up. On H4 there was the breakout that apo would have caught, then consolidation. There is a clear bit of space now between price and the EMAs so this pullback might continue down for a while. Hopefully my buy stop order will catch the next move up. {image}
This one has been stuck in local consolidation for 40 hours, which has been a bit frustrating. And then the most recent bar went far down before it recovered. Playing practical jokes on us, maybe . But the basics have remained constant - both H4 and D1 are still up - so no need to panic. Hopefully it breaks out and gets moving now.
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  • #782
  • May 19, 2023 6:55am May 19, 2023 6:55am
Quoting AlistairC
{quote} This one has been stuck in local consolidation for 40 hours, which has been a bit frustrating. And then the most recent bar went far down before it recovered. Playing practical jokes on us, maybe . But the basics have remained constant - both H4 and D1 are still up - so no need to panic. Hopefully it breaks out and gets moving now. {image}
Finally!
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  • #783
  • May 20, 2023 5:21pm May 20, 2023 5:21pm
I hear you Alistair about EJ playing jokes. But this was a good trade from the crossover that I refer to on this chart.
For good reasons we are all looking for support and resistance levels because we know how valuable they are to us as traders. One thing that I make note of are " master candles ". If there are at least 3 bars that are engulfed by the master candle then that is something to take notice of. I treat the master candles simply as support and resistance levels. Therefore there are bounces..fakeouts..breakouts / pullbacks / continuation...etc..etc.
You see that the highs of the 2 last 4 hr candles have bounced right off of the master candle low. ( I have at 5/02..16:00 ). Also notice that the last crossover
( I have it at 5/15 ..20:00 ) was one of six candles that were contained within the master candle. You can look at the master candle as a 'congestion' phase. Congestions usually lead to an impulse ( sometimes fakes...sometimes real ).
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  • #784
  • May 20, 2023 5:30pm May 20, 2023 5:30pm
The Eur Aud which started as a wedge / flat top triangle morphed into sideways congestion. There were 4 crossovers within the congestion and that's a "red flag" if you're trend trading.
But again...notice the area where price found support. It was the master candle low. The daily chart is down so we are still looking for sells theoretically. Happy trades to all...Billy
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  • #785
  • May 23, 2023 1:09am May 23, 2023 1:09am
Just placed this EURJPY trade. D1 is also up.
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  • #786
  • May 23, 2023 1:15am May 23, 2023 1:15am
This is also a yen trade, placed yesterday. This chart has an overbought, or perhaps an old-age, look to it. But it reached 65 pips up yesterday and is now at B/E.
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  • #787
  • May 24, 2023 2:48pm May 24, 2023 2:48pm
As posted earlier I have been waiting for this pair to break out the range, as I thought it broke down lower, if it continues there is very high potential on the trade, wait and see ...
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  • #788
  • May 24, 2023 3:06pm May 24, 2023 3:06pm
This pair is also trading in a range and waiting for a breakout, most probably to the downside ... we're under the 100 MA both on 4h and 1d chart, we've seen a false breakout already to the downside, the next one might be the one but it remains risky as we are hitting the 1-week 100 MA and we would have to break through this in order to continue, but once this happens, the potential could be high. I prefer to remain cautious and wait untill we clearly close underneath the MA-100
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  • #789
  • May 27, 2023 1:14am May 27, 2023 1:14am
Quoting AlistairC
{quote} I can't reply for yanah12, but in my opinion there is no rule for how many trades to run at the same time. It depends on how experienced you are and what you feel comfortable managing. Probably a maximum of 6 at once is about right. Some people do advise trading one pair only, e.g. EURUSD and get to know it so well that you become good at trading it. I have heard others say "If it moves I'll trade it", but that is reckless, I think, because there are thousands of instruments out there and you can't hope to master the behaviour of all of...
Hi AlistairC; Thank you for your insights. this helps.
  • #790
  • May 29, 2023 3:24am May 29, 2023 3:24am
Bank holidays in most major forex trading countries today. No trading for me.
  • #791
  • May 30, 2023 7:19am May 30, 2023 7:19am
Hey everyone!

I just wanted to drop by and say thanks for sharing this system - it's exactly what I was looking for. I've had some very active years trading Fx a while back, and am looking to re-start the journey with a much cleaner system, and this works for me.

ADHD really isn't friendly with having too many indicators on the screen, so I love the simplicity, as well as the fact that you can trade a zillion currency pairs.

I'll be around starting Monday when I return from a quick trip. Thanks again for sharing!
  • #792
  • May 30, 2023 10:52am May 30, 2023 10:52am
A tentative re-entry into the market after the long weekend. There was a first leg down, then a pullback. I would have wanted to get in earlier but missed it.
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  • #793
  • May 31, 2023 12:29am May 31, 2023 12:29am
Quoting AlistairC
A tentative re-entry into the market after the long weekend. There was a first leg down, then a pullback. I would have wanted to get in earlier but missed it. {image}
Target reached
  • #794
  • Jun 1, 2023 3:03am Jun 1, 2023 3:03am
Since the EMA crossover there has been one leg down, then a pullback to the EMAs. Price is now below the 100 EMA. I placed a sell stop order as high up as I could without getting caught into a continued pullback and so far it has worked out. One concern is the minor support right where the entry level is.
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  • #795
  • Jun 1, 2023 3:16am Jun 1, 2023 3:16am
This is an interesting case. I noticed the break down out of consolidation but did not enter because of the support level (now resistance). Price broke below the support late yesterday, pulled back and consolidated there for a short time. I placed a sell stop order below the minor consolidation. The daily chart shows there is plenty of space to move down into. One thing I'm not happy about is that the latest down move is quite 'old', so as no trend lasts forever, in this case the odds of continuing down are reducing as the odds of it reversing are increasing.
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  • #796
  • Edited 9:12am Jun 1, 2023 8:39am | Edited 9:12am
Murphy's Law says that the trades you choose to post don't do well while the one you chose not to post takes off like a rocket. This shows that trading involves a lot of luck, besides any skill we might bring. Here it is.
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  • #797
  • Jun 2, 2023 1:12am Jun 2, 2023 1:12am
Quoting AlistairC
Murphy's Law says that the trades you choose to post don't do well while the one you chose not to post takes off like a rocket. This shows that trading involves a lot of luck, besides any skill we might bring. Here it is. {image}
This trade (GBPUSD) reached its target.
AUDJPY stopped out
EURCAD still running.
  • #798
  • Jun 2, 2023 3:05am Jun 2, 2023 3:05am
Just curious, usually how long these trades hit TP after being opened? High timeframe seems more secure in terms of direction but the time to lock in profit is significantly longer than trading in lower timeframes
  • #799
  • Edited 7:19am Jun 3, 2023 3:51am | Edited 7:19am
Quoting BlackCap
Just curious, usually how long these trades hit TP after being opened? High timeframe seems more secure in terms of direction but the time to lock in profit is significantly longer than trading in lower timeframes
On H4, which is what I use as my trading TF, I can reach my TP on the same day if I catch a good breakout, or sometimes it can take as many as 3 days, it depends on market behaviour. But it also depends on how far away my target is. Mostly I use 100 pips, but that is adjustable depending on key levels and also overall market behaviour. Sometimes the forex market moves slowly so I might reduce my TP to 60 pips, something like that. Other times I just get bored waiting!
  • #800
  • Jun 3, 2023 4:32am Jun 3, 2023 4:32am
100 pips is a lot of pips to pocket. If planning to achieve TP on same day, maybe doable on crosses. Will backtest this strat and see how it goes. Again, thanks for sharing your method
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