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New Cable Thread & Other Pairs

  • #7,701
  • Jul 19, 2024 2:45am Jul 19, 2024 2:45am
Quoting Mihisti
{quote} So now you see a 15-20 pip bounce up? Great idea your observation.
No, donīt play the bounces. It is not worth it and it is dangerous to go against the trend. Also, price can move sideways to the EMA. Just Sell when it gets close to it.
Observation is the path to discovery.
  • #7,702
  • Jul 19, 2024 2:47am Jul 19, 2024 2:47am
Quoting Alorente
{quote} No, donīt play the bounces. It is not worth it and it is dangerous to go against the trend. Also, price can move sideways to the EMA. Just Sell when it gets close to it.
I will not try now, but I will keep an eye on it. Thanks!
  • #7,703
  • Jul 19, 2024 2:48am Jul 19, 2024 2:48am
The Pink line where price is now is the 200 SMA. I expect it to pause here or slight bounce before the next fall. Look at how it behaved at the 200 EMa in May.
Observation is the path to discovery.
  • #7,704
  • Jul 19, 2024 2:55am Jul 19, 2024 2:55am
Quoting Alorente
The Pink line where price is now is the 200 SMA. I expect it to pause here or slight bounce before the next fall. Look at how it behaved at the 200 EMa in May.
Yes, it was going trough and then retested. Yes, crossing MA200 is a good signal.
  • #7,705
  • Jul 19, 2024 2:56am Jul 19, 2024 2:56am
EUR USD

I think something like this we are at a tricky zone week triangle line test and up or break test and down it’s up to market makers to make the move .
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Scalping
  • #7,706
  • Jul 19, 2024 3:01am Jul 19, 2024 3:01am
Quoting Mihisti
{quote} Yes, it was going trough and then retested. Yes, crossing MA200 is a good signal.
In my trade, I am in since 2467. I am adding new Sells when price approaches the 10 EMA, but I am not closing previous trades. That is called the caterpillar strategy. If price breaks the 10 EMA clearly, I will close everything. That is my exit point.
Observation is the path to discovery.
  • #7,707
  • Jul 19, 2024 3:20am Jul 19, 2024 3:20am
Quoting Alorente
{quote} In my trade, I am in since 2467. I am adding new Sells when price approaches the 10 EMA, but I am not closing previous trades. That is called the caterpillar strategy. If price breaks the 10 EMA clearly, I will close everything. That is my exit point.
Very good strategy on the trending market. And can you make a lot of money with little risk. Great job.
  • #7,708
  • Jul 19, 2024 3:25am Jul 19, 2024 3:25am
Quoting Alorente
{quote} In my trade, I am in since 2467. I am adding new Sells when price approaches the 10 EMA, but I am not closing previous trades. That is called the caterpillar strategy. If price breaks the 10 EMA clearly, I will close everything. That is my exit point.

I do not have the courage to keep price open so long, but I assume that I need to educate myself!!!
  • #7,709
  • Jul 19, 2024 3:32am Jul 19, 2024 3:32am
Quoting pedro319
Bounce has not started yet but I trust it will. I am buying small portions of Gold for the bounce as planned. Gold Harmonic swing doubled 2411-09 Same with the other 2, H&S could still form. {image}
I only follow traders with IQ above 160
  • #7,710
  • Jul 19, 2024 3:33am Jul 19, 2024 3:33am
Quoting NrSLionHeart
{quote} I do not have the courage to keep price open so long, but I assume that I need to educate myself!!!
It is not a matter of courage. Take any strongly trending move and use the 10 EMA on an H1 chart. If the 10 EMA starts changing direction, you exit. Look at the EURUSD fall and apply the 10 EMA. It respects it. It works for all pairs on strong trends. You should not trade ranging markets. Just look for strong trends and use the strategy and make money and be happy.
Observation is the path to discovery.
  • #7,711
  • Jul 19, 2024 3:39am Jul 19, 2024 3:39am
Quoting Alorente
{quote} It is not a matter of courage. Take any strongly trending move and use the 10 EMA on an H1 chart. If the 10 EMA starts changing direction, you exit. Look at the EURUSD fall and apply the 10 EMA. It respects it. It works for all pairs on strong trends. You should not trade ranging markets. Just look for strong trends and use the strategy and make money and be happy.
Here are EU and GU H1 charts of the same fall. As you can see, they respect the 10 EMA (White line). It works... That is why the pros use it.

Trading is simpler than you are led to believe. We make it complicated...
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Observation is the path to discovery.
  • #7,712
  • Jul 19, 2024 3:56am Jul 19, 2024 3:56am
Quoting Alorente
{quote} Here are EU and GU H1 charts of the same fall. As you can see, they respect the 10 EMA (White line). It works... That is why the pros use it. Trading is simpler than you are led to believe. We make it complicated... {image} {image}
I use simple MA's, but the principle is still exactly the same - John Carter called this propulsion and Dave Landry calls is kissing the MA goodbye
  • #7,713
  • Jul 19, 2024 4:02am Jul 19, 2024 4:02am
Quoting Thtpro
{quote} I use simple MA's, but the principle is still exactly the same - John Carter called this propulsion and Dave Landry calls is kissing the MA goodbye
I used to use simple MAs but in reading great traders stories, I learned that the EMA follows price even closer so I switched.

The key to trading is to stay out of non trending markets. You will consistently lose money. Once you convince yourself to trade only strong trends and apply the 10 EMA, everything gets much easier and the money starts to grow the account.
Observation is the path to discovery.
  • #7,714
  • Jul 19, 2024 4:02am Jul 19, 2024 4:02am
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Its all just one persons opinion
  • #7,715
  • Jul 19, 2024 4:03am Jul 19, 2024 4:03am
EURUSD 4 hours H&S pattern at around 1.0920 if it rises above 1.0871!
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Looking for profitable short term trades ...|
  • #7,716
  • Jul 19, 2024 4:21am Jul 19, 2024 4:21am
Quoting Alorente
{quote} I used to use simple MAs but in reading great traders stories, I learned that the EMA follows price even closer so I switched. The key to trading is to stay out of non trending markets. You will consistently lose money. Once you convince yourself to trade only strong trends and apply the 10 EMA, everything gets much easier and the money starts to grow the account.
Indeed, the trick is to find those that enter a strong trend, in every market there are such periods and periods that are not,
I'm usually satisfied with intraday momentum, but if there are signs of a strong trend I leave a part open,
How do you spot it early enough?
'In the clearing stands a boxer And a fighter by his trade..'
  • #7,717
  • Jul 19, 2024 4:24am Jul 19, 2024 4:24am
Quoting Alorente
{quote} I used to use simple MAs but in reading great traders stories, I learned that the EMA follows price even closer so I switched. The key to trading is to stay out of non trending markets. You will consistently lose money. Once you convince yourself to trade only strong trends and apply the 10 EMA, everything gets much easier and the money starts to grow the account.
Absolutely - I toyed with EMA's, WMA's etc years back, but just decided to keep it simple - there's not much in it either way - the main thing is it works and price will drag the MA along with it and depending on the differing strengths of price action [trend] you'll find that price fails to get back past the 10 or 20 MA until things start to change

This method works with Indicators too, but that's adding a layer of complication to it, that people might not be comfortable with
  • #7,718
  • Jul 19, 2024 4:28am Jul 19, 2024 4:28am
Quoting Alorente
{quote} Here are EU and GU H1 charts of the same fall. As you can see, they respect the 10 EMA (White line). It works... That is why the pros use it. Trading is simpler than you are led to believe. We make it complicated... {image} {image}
The white is the 10 ema what are the other 2 you have?
  • #7,719
  • Edited 4:47am Jul 19, 2024 4:36am | Edited 4:47am
Quoting GOR
{quote} Indeed, the trick is to find those that enter a strong trend, in every market there are such periods and periods that are not, I'm usually satisfied with intraday momentum, but if there are signs of a strong trend I leave a part open, How do you spot it early enough?
I spot it early by using three MAs. I use the 10 EMA (White), 20 EMA (Orange) and 49 LWMA Green. When they cross and the 10 begins to steepen, I enter. I actually use the M30 charts for most pairs, but depending on the volatility of the pair you may have to change that. Here is the M30 chart on Gold. Look at where they crossed: 2462. Check that the 10 EMA is steep and enter. If you are extra cautious, wait for price to return to the 10 EMA and enter then. If during the ride, price separates a lot from the 10 EMA, you can close and reenter when it comes back to it. I donīt close. I open additional trades with each kiss and hold the rest. If the 10 EMA changes direction, not sideways which is ok, but the opposite direction, you can exit. I use the Orange 20 EMA for a safety net.

If they crossed at 2462, why did I enter at 2467? Thatīs a more complicated story based on my Extreme TMA system, but you donīt need to be that precise. Who cares about the first few pips? The key is consistency...

Edit: By the way, the 49 LWMA (Green) is really only for stop loss placement. If you use stops, you should place it on the other side of the Green MA, I really do not use stop losses because I like to watch my trades, but if you do, it is useful for that.
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Observation is the path to discovery.
  • #7,720
  • Jul 19, 2024 4:36am Jul 19, 2024 4:36am
I cannot focus on EURUSD only if you guys don't stop talking about moving averages, for God sake !!
We watch the charts from every angle so you don't have to!!
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