USDJPY H4 Setup
Entry on M15
Entry on M15
Leave the Gun, Take the Armani
MA Crossover System that works for me
- #1,185
- Edited 6:47am Aug 29, 2023 6:24am | Edited 6:47am
- Joined Mar 2018 | Status: Trader | 224 Posts
This one is ambitious.
EURUSD D1/H4 Setup
D1
H4
I waited for the break of the D1/H4 trendline. Then i waited for price to retrace to the back of that trendline on H1.
H1
I further drilled down to M5 and drew another trendline and waited for that break and entered. Overall target is the D1/H4 138.2% for a 1:20 R:R. Very ambitious but that's the whole point of drilling down to a lower TF. I can comfortably set to break even and just trail now.
M5
If you didn't want to drill down to M5, you could take a more swing type entry on H4 or H1. Wait for a full body red candle break, then a up green candle. It can retrace to the back of the trendline, or it can be an inside bar (which indicates a more breakout situation). Set stop orders and set targets using fibs or even weekly highs lows since this is a swing strategy.
EURUSD D1/H4 Setup
D1
H4
I waited for the break of the D1/H4 trendline. Then i waited for price to retrace to the back of that trendline on H1.
H1
I further drilled down to M5 and drew another trendline and waited for that break and entered. Overall target is the D1/H4 138.2% for a 1:20 R:R. Very ambitious but that's the whole point of drilling down to a lower TF. I can comfortably set to break even and just trail now.
M5
If you didn't want to drill down to M5, you could take a more swing type entry on H4 or H1. Wait for a full body red candle break, then a up green candle. It can retrace to the back of the trendline, or it can be an inside bar (which indicates a more breakout situation). Set stop orders and set targets using fibs or even weekly highs lows since this is a swing strategy.
Leave the Gun, Take the Armani
I assume that the EMA crossover on your trading TF hasn't developed much further? What do you do for confirmation that there is a new trend in place?
A new trend is when a new 8/20 cross over and retracement happens. Or, i just go find another pair and timeframe. MT5 would actually more suitable for this due to so many more timeframes available to comfortably swing trade.
Thank you, yes please, do stick to the swing type trades. I am finding that at present such trades are very few and far between. Most H4 charts are either showing very long trends (old ones, likely to go wobbly soon), and many are at chart extremes, or else they have given signals but the D1 price action is still in the opposite direction. It feels like we are waiting for something to break, but it hasn't happened yet.
Posted 2 H4 trades for you. One of them TP'd already
Leave the Gun, Take the Armani
- #1,190
- Aug 30, 2023 7:25am Aug 30, 2023 7:25am
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D1 is in a strong and well-developed uptrend, in fact a bit old and it's one reason I have hesitated in the past. On H4 price and the 2 EMAs are above the 100 EMA so when I got a bullish crossover signal I looked for a suitable entry. Now at B/E.
- #1,192
- Aug 30, 2023 10:58am Aug 30, 2023 10:58am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
every Saint has a past. Every Sinner has a Future
- #1,193
- Edited 2:40am Aug 31, 2023 2:30am | Edited 2:40am
{quote} Take a look at this canabilised ichimoku system ( one trend line) - might interest you. Apologies for digression from your original post. Video from about 25:25 https://www.youtube.com/watch?v=5a8oHcG1DUc
So it ends up being a variation on what many traders use, which is a single MA system, trading when price crosses an MA. In fact, an MA of 1 is basically the same as the actual price, so we could say this is an MA of 1 period (i.e. price) crossing an MA of xx periods (commonly 50). And so it's not a major digression from what we are doing except that in this video example we are using an Ichimoku line, not an MA
. The basic rule for the Kijun-sen system is to enter when price closes on the other side of the Kijun-sen and exit the trade when it does the opposite. There's more to it from about minute 29 in the video where he refers to a baseline.This is what it looks like - you'll have to click on the chart to see the line because it's quite dark to see on the thumbnail image here.
- #1,194
- Aug 31, 2023 3:04am Aug 31, 2023 3:04am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
{quote} The Ichimoku system intrigues many traders but I don't know if anyone uses it successfully and consistently. The adaptation shown in the video is basically a single line / price crossover using just one line from the many in Ichimoku, the Kijun-sen. So it ends up being a variation on what many traders use, which is a single MA system, trading when price crosses an MA. In fact, an MA of 1 is basically the same as the actual price, so we could say this is an MA of 1 period (i.e. price) crossing an MA of xx periods (commonly 50). And so it's...
I din't want to mention baselines etc just to keep it simple, but if you think it important I will have a look. But the chart you have put up on the line alone is impressive
every Saint has a past. Every Sinner has a Future
- #1,195
- Edited 11:42am Aug 31, 2023 4:24am | Edited 11:42am
{quote} Thanks for the prompt reply and analysis Alistair. Much appreciated. I din't want to mention baselines etc just to keep it simple, but if you think it important I will have a look. But the chart you have put up on the line alone is impressive
Having spent some time looking at this system I don't want to endorse it.
- #1,196
- Aug 31, 2023 4:41am Aug 31, 2023 4:41am
I entered this AUDNZD trade on H4 earlier today. I used a buy limit order, which I seldom do, in order to get in close to the EMAs. Now I have to hope it really does turn around and go with the dominant trend. As security, the entry is sitting right on a support level.
- #1,198
- Aug 31, 2023 6:31am Aug 31, 2023 6:31am
Example of target (which i just missed on EURUSD M15). I normally target 138.2%. You have to draw the fib in reverse, from the breakout point (100%) to the retracement point (0%). You can see on price just hit 138.2%. {image} What's usually happening price breaksout at 100% and rushes towards 138.2%. Then, profit-taking happens and price retraces back to the point of breakout at 100%. At that point, you can consider a second entry (your standard S/R breakout retest entry) but I don't because of unfavourable R:R. You also might get taken...
- #1,199
- Aug 31, 2023 10:29am Aug 31, 2023 10:29am
Using the 3x3 system (3 EMAs aligned across 3 TFs) there is very little going on. I am waiting for a flood of these trades to start appearing maybe during next week. {image}
- #1,200
- Edited 6:11am Sep 1, 2023 4:06am | Edited 6:11am
I have just received this signal on GBPCHF H4 showing all 3 EMAs are now aligned. But I won't take it because on D1 the trend is still down. The OGT indicator at the bottom shows this, and a glance at the daily chart itself confirms it. It might work, but hope isn't the best way to make money. Rather be more certain (and then hope for the best 
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