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EMA 25-50 Trading System (Detailed)

  • #1,101
  • Nov 1, 2007 1:57pm Nov 1, 2007 1:57pm
On gbp/jpy a triangle is forming. We should look for a breakout.
Attached Image (click to enlarge)
Click to Enlarge Name: triangle.JPG Size: 126 KB
  • #1,102
  • Edited 7:18pm Nov 1, 2007 6:18pm | Edited 7:18pm
We will be looking for short positions based on the dark cloud cover on the daily chart around Daily R.

You may enter now under 237.75

Stop Loss: 238.87

Regards,
E. Lang

PS: Last trade was a loss -106
About the candlestick signal: Click here
PSS: I just want to add that the SL placed is in expectation of a scenario with a sharp fall.

This pattern is generally traded with the SL set at the bearish candles High (241.35) or Open (239.88)
It is a pretty strong reversal signal, so its worth expanding your SL a little more.

If you're increasing your SL, to compensate for the nature of the trade, then reduce your lots accordingly to keep within the safe confines of a standard percentage loss in regards to your present account size.
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #1,103
  • Nov 1, 2007 9:32pm Nov 1, 2007 9:32pm
Wow - got stopped out of that trade too! I'm sure taking a beating this week.

Hope to make it back in the next trade.
  • #1,104
  • Nov 1, 2007 10:22pm Nov 1, 2007 10:22pm
That’s why I nicknamed it Wild Thing. You jump on, grab hold, and hope it doesn’t throw you off till you’re ready. Tossed me on my fanny tonight, but so it goes. We did well with it earlier in the week. There will be other days and other chances. But right now I’ve got to go find a pillow to sit on.

Perry
  • #1,105
  • Nov 1, 2007 10:37pm Nov 1, 2007 10:37pm
Hi all.

Can someone who is willing and able please create a reliable Expert Advisor for this strategy ?

rgs
mike
  • #1,106
  • Nov 2, 2007 1:41am Nov 2, 2007 1:41am
I just keep waiting for the silly EUR/JPY to close below the 50EMA..Has been hovering above it for a good day now. Good thing, I was able to capture most of the move down from the previous night from a different MA method, but now I am waiting for the 2550 method to justify another push downward.
  • #1,107
  • Nov 2, 2007 4:07am Nov 2, 2007 4:07am
The pattern still hasn't failed, the previous daily Close or High has to be taken out to confirm it didn't work.

But yes we've had a few loosers past few days.

Still looking fresh for the month though, so its all good en route to our min 1000 pips per month.

Regards,
E. Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #1,108
  • Edited 8:53am Nov 2, 2007 8:27am | Edited 8:53am
The dark cloud cover has officialy failed, so the bears are out of the picture for a while now.

The events that have take place pictorialy show that the bulls started the rally, broke to new highs, but failed to sustain momentum and lost controls to the bears.

The short scenario failed to hold and the highs have now been broken which preclude validity of the dark cloud cover.

With the break of this high, we officially have a new bullish trend confirmed on the daily chart so we should be in for a big ride from here onwards.

UNLEEEEEESS

The bears take it all the way down back to the open, which will honestly leave me suprized lol

Regards,
E. Lang

PS: last trade was a loss
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #1,109
  • Nov 2, 2007 10:30am Nov 2, 2007 10:30am
COULD SOMEONE PLEASE ANSWER THIS????????????

Hello,

I have been using the 2550 system lately and I just had a couple questions I was hoping you could answer. First, could I show profit in taking only 50ema cross entries? I am debating not doing any re-entries based on the 25ema until I can show a profit. Also, if I am just starting should I limit myself to only trading the 4hr?
  • #1,110
  • Nov 2, 2007 10:52am Nov 2, 2007 10:52am
Hi marolam,
please don't shout.
Nobody has answered your question cos how can they?
Different traders have different risk tolerences... what are your money management skills?... how do you handle trades?... etc. etc.
Check back in your charts to see how good the signals are and this will give you a good idea if you will profit or not. Effi gives alerts and entry points for the 2550, stop loss points and take profit targets. What more do you want?
I personally use this on the 15min and 1hr timeframe with mixed results but generally in my favour. You just have to experiment and find what suits you or take Effi's signals as they come. HTH.
Dave
  • #1,111
  • Nov 2, 2007 11:02am Nov 2, 2007 11:02am
Ok thank you for the response.
  • #1,112
  • Nov 2, 2007 2:05pm Nov 2, 2007 2:05pm
Hi Effi and all,

to lower the amount of bad trades in 2550: What about a minimum number of candles that must have happend, before one takes a new crossing candle as an contrary entry signal?

For example, once you have a down signal and entered short, there must have been, say, 5 other candles, before a new upcrossing of EMA50 gives a valid signal for switching the current shorttrade into a longtrade. So, if for example the third candle after entry gave us an up-signal, that would be ignored.

Granted, you´d miss one or the other entry at an early stage (you could jump in in a pullback later).

But on the other hand maybe we´d save a lot of those wrong signals in a "undecided" sideways move...

What do you think?

bye
pointtom
  • #1,113
  • Nov 3, 2007 2:45pm Nov 3, 2007 2:45pm
Hi Effi,

Could you possibly suggest some books or other resources for learning technical analysis? I’ve read a few books, but most of them are full of "fluff" with no substance. They just touch the surface.

Thanks,

-Clayboy
  • #1,114
  • Nov 3, 2007 3:42pm Nov 3, 2007 3:42pm
hey.....there are a TON of free Ebooks online.......just search on ask.com and you for "free forex e books"


you will be glad you did....
  • #1,115
  • Nov 3, 2007 5:01pm Nov 3, 2007 5:01pm
Quoting clayboy
Hi Effi,

Could you possibly suggest some books or other resources for learning technical analysis? I’ve read a few books, but most of them are full of "fluff" with no substance. They just touch the surface.

Thanks,

-Clayboy
Skype Me!

I will bury you with books.
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #1,116
  • Nov 4, 2007 7:44am Nov 4, 2007 7:44am
Quoting effilang
Skype Me!

I will bury you with books.
hey efii i need some books too!!! Please mail them to me on [email protected].
Thanks
regards,
BK
  • #1,117
  • Nov 4, 2007 7:48am Nov 4, 2007 7:48am
Sorry dude, you need to Skype me.

Too many, too big.

Regards,
E. Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #1,118
  • Nov 4, 2007 9:42pm Nov 4, 2007 9:42pm
  •  bonzdoc
  • | Joined Jun 2007 | Status: Mountain Man & Beach Bum All In One | 41 Posts
this looks like an interesting system and i look forward to following it more closely
"If your mind can see it and believe it you can achieve it."
  • #1,119
  • Edited 3:22am Nov 5, 2007 3:02am | Edited 3:22am
Quoting effilang

http://img87.imageshack.us/img87/223/reviewvy8.jpg



"Bearish corrective price action has terminated at the 61.8% retracement from 251.121 to 219.23 at 239.00. Price retreat has developed steadily breaking through daily support at 235.50, promoting the continuation of the fall started at 251.12 in a bearish impulse.

As long as price action maintains progressive bearish ground below 235.50 further decline is expected to continue to minor support of 232.50 from which two scenarios will possibly branch into existence:

BEARISH
1.Profit taking bearish impulsive correction (minor) starting at the 232.50 (D of corrective ABC) expected to terminate around the 236.70 area before the resumption of another bearish impulsive wave (minor) in perspective to impulsive fall from 240.68/238.00 (major) which should proceed towards Daily Support around the 229.00 area.

BULLISH
2.Bearish impulsive corrective retracement progresses higher than expected and terminates the current fall.

Price action above 235.50 >> 237.42 will conccur to this sentiment.

Corrective retracement from 251.00 resumes breaking 240.63 in (E) of regular ABC corrective pattern confirming a new Bullish trend."

Considering the nature of the consolidation we've had in the past week, im inclined to technically assume a retracement much larger than expected and its extremely possible that Bearish scenario 2 as stated last week comes into play and the bulls run for 240.63 in an attempt to establish a new bullish trend.

http://img204.imageshack.us/img204/6347/reviewct6.jpg


Bullish Scenario 2 having taken place in movement E failed to make a new high capping out at daily resistance and the 150% profit taking level.

The dark cloud cover pattern created failed to be confirmed to the downside by the bears on Friday but the lack of intent from the bulls also failed to invalidate the pattern by closing/opening above it's highs, leaving the market at an equilibrium.

Price was dumped over the weekend and Mondays candle opened inside Fridays candle forming a bearish harami for the moment.

If price closes as a harami today we will have a confirmation of downward decision. Not excluded is the fact that price may close well below the low today confirming the movement lower and forming a poetic engulfing bearish candle.

At this point the sentiment has shifted from neutral to bearish.

Regards,
E. Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #1,120
  • Edited 3:41am Nov 5, 2007 3:03am | Edited 3:41am

GBP/JPY Short (Daily)

Entry: 237.37
SL: 240.35

---------------------
PENDING
---------------------

As always with trades that require a wide SL due to the TF of application, reduce your lot size respectably to maintain a standard loss ratio.

If the trade goes our way we will pile lots on correction on minor time frames.

"One Grows Tall After Walking Through A Forest Of Tall Trees."
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