{quote} For the first chart seems to be a double top which would put me off. Second chart looks slightly better however, what I don't like how potentially late in the trend you could be. As you can see there are other factors to consider when trading a system. Hope it helps.
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Hi zoheb,
Thank you for sharing such a nice simple trading system.
Agrees with other factor such as support resistant and some other factor as well.
I prefer to look at what the the higher time frames are doing before entering the trade at lower time frame.
Different people use diffrent type of strategy with price and EMA's.
It may be they will include indicator may be not, but as long as they understand what current price is telling them what is happening and most propbably will happen next that is price action trading for me
It does not gurantee it will happen next, we just guess and trade them.
If future orders comes in our direction it will heppen if not it will go other way.
Anyway... Thanks again for your great effort sharing this simple system with newbie like me.
{quote} Hi zoheb, Thank you for sharing such a nice simple trading system. Agrees with other factor such as support resistant and some other factor as well. I prefer to look at what the the higher time frames are doing before entering the trade at lower time frame. Different people use diffrent type of strategy with price and EMA's. It may be they will include indicator may be not, but as long as they understand what current price is telling them what is happening and most propbably will happen next that is price action trading for me It does not...
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Thanks for your contribution. I agree using the higher timeframes is a great way to filter out false trades.
Let me know how you get on.
Never stop investing. Never stop improving. Never stop doing something new
Hi Zoheb01, im really enjoying this strategy with your Trend dashboard , they go hand in hand. Thanks again for providing such solid content and strategies.
Thanks to you zoheb01 and your wonderful systems,I'm using this and the new scalping system you recently gave us. My career in the hospitality industry is probably over and In order to care for my family I had to give my head a shake and stop GAMBLING and start trading. This week was a game changer for me and thanks to you I finally realized after years of trading how important the smallest detail is in trading. For example I passed on trades that were close to the moving average but not touching.FOMO was my biggest enemy. Stay safe and thanks again you did a wonderful thing giving people with no way out to actually have a chance at a new career.
Thanks to you zoheb01 and your wonderful systems,I'm using this and the new scalping system you recently gave us. My career in the hospitality industry is probably over and In order to care for my family I had to give my head a shake and stop GAMBLING and start trading. This week was a game changer for me and thanks to you I finally realized after years of trading how important the smallest detail is in trading. For example I passed on trades that were close to the moving average but not touching.FOMO was my biggest enemy. Stay safe and thanks again...
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Sorry to hear about your career, I hope that something comes up for you soon. I'm glad that your trading is improving with the tutorial videos I'm producing and makes me happy that it's adding a great deal of value to you. Just keep your risk management in check!
Never stop investing. Never stop improving. Never stop doing something new
Hi, Does the MACD crossover have to happen at the same time as the touched/pullback candle?
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Thats your call. A riskier (yet more lucrative) approach would be the touch as the cross might get you in late. I would check the latest video in my other thread - https://www.forexfactory.com/showthr...5#post12885575 which will give you some help and other ideas.
Never stop investing. Never stop improving. Never stop doing something new
Hey traders, I wanted to share with you a simple 3 EMA pullback strategy that I've been using over the recent weeks. I've embedded the full tutorial video below: https://www.youtube.com/watch?v=8W5nnl44jsI The systems uses two indicators moving averages (determine the trend) and the MACD (signal for a pullback). Both indicators are slightly modified and included in the download below along with the MT4 template. Rules LONG 1) Top 50, middle 100 bottom 200 3) MACD above 0 line 3) MACD downward cross over 4) 200 EMA green 5) Price touched/closed...
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just for clarification when you say ema200 green, you mean that the other ema50 and 100 are above the ema200, right?
and vice versa when you say "ema200, red" meaning the other ema are below the ema200, price could goes down further, correct?
However, looking at backtesting, I'm struggling to find pretty much any set ups that fit your criteria. Secondly, if the pullback is short (only one or two candles are crossing the EMA), then the MACD crossover occurs too late, when the price has already pretty much corrected itself back onto the initial trend.
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Yes; these observations are all valid and correct.
Especially regarding trading-frequency. Good, simple, logical, robust, sensible trading methods often have a very low trade frequency.
Forex is high risk, if you don't know how to trade do not trade at all