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bo7a method... method for GBP/JPY

  • #101
  • Dec 14, 2007 6:24am Dec 14, 2007 6:24am
Here's an example.
Would this be a no trade?
This kind of thing happens a lot.
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  • #102
  • Dec 14, 2007 6:36am Dec 14, 2007 6:36am
Quoting SA_Node
Price has re-touched 7EMA and gone below 90EMA!http://www.forexfactory.com/images/icons/icon12.gif

If you mean 7EMA and 15EMA also cross 90EMA besides the price, then its a different rule.
I trade it, and cash in +50 in 1 lot and currently another one are still running positive. I add +5 pips from 7ema, so it's not 100% in 7ema.

The rule says you can't go short when price is above 90ema, but i just can help myself..
  • #103
  • Dec 14, 2007 6:44am Dec 14, 2007 6:44am
well, the other lot got stopped at be. cash in +50 in one minilot

it's friday and london is about to close in a few hours, are you guys still up for trading?
  • #104
  • Dec 14, 2007 7:28am Dec 14, 2007 7:28am
Quoting billbss
Here's an example.
Would this be a no trade?
This kind of thing happens a lot.
no It's an excellent trade, and it usually makes more than 1 target

I told u if the crossover is with breaking ema 90 it is a good trade but the intersection must be 1 or 2 candle far from the break of ema 90

got it?
freedomfigher
  • #105
  • Dec 14, 2007 9:02am Dec 14, 2007 9:02am
would have been excellent short !
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  • #106
  • Dec 14, 2007 9:43am Dec 14, 2007 9:43am
Quoting SA_Node
would have been excellent short !

yes it was u can find many excellent trades on other pairs, but as I said u must have enough time on demo as I didn't try it on other pairs
freedomfigher
  • #107
  • Dec 14, 2007 9:45am Dec 14, 2007 9:45am
Quoting SA_Node
would have been excellent short !
It wouldn't have been a trade.
Price never retested the 7EMA.
  • #108
  • Dec 14, 2007 9:46am Dec 14, 2007 9:46am
Quoting billbss
It wouldn't have been a trade.
Price never retested the 7EMA.
mmmm, it retested on Al-trade
freedomfigher
  • #109
  • Dec 14, 2007 9:48am Dec 14, 2007 9:48am
Quoting mindforex
mmmm, it retested on Al-trade
If you look at the chart he posted, it didn't.
  • #110
  • Dec 14, 2007 9:58am Dec 14, 2007 9:58am
Quoting billbss
If you look at the chart he posted, it didn't.
I think it is not important for other pairs, the GBP/Jpy is so fast so we choose the retrace to take the best entry point and it usually retrace

in other pairs sometimes it retrace and sometimes not

we must be fleixable with forex

every pair has a behaviour u must know this behaviour , myself I like GBP/JPY we call it in Egypt (the crazy pair)
freedomfigher
  • #111
  • Dec 14, 2007 10:13am Dec 14, 2007 10:13am
i thought that candle after 7EMA cross 90EMA, was a re-test.
Could have been 7EMA bending down to touch the candle.
But how price retesting EMA can happen without EMA also bending ?http://www.forexfactory.com/images/icons/icon10.gif
  • #112
  • Dec 14, 2007 10:19am Dec 14, 2007 10:19am
Guys, could be another set-up approaching.
  • #113
  • Dec 14, 2007 10:25am Dec 14, 2007 10:25am
Quoting SA_Node
i thought that candle after 7EMA cross 90EMA, was a re-test.
Could have been 7EMA bending down to touch the candle.
But how price retesting EMA can happen without EMA also bending ?http://www.forexfactory.com/images/icons/icon10.gif
You have to watch the bar form in real time to know if it touched.
Sometimes you can look back on a chart and it's obvious it did. Sometimes it's obvious it didn't. On the chart you posted, I can tell it didn't. The highs of the bars barely touch the EMA. Had price been moving toward the EMA, the EMA would have been rising above it and staying above price.
  • #114
  • Dec 14, 2007 10:27am Dec 14, 2007 10:27am
Yes, thanks Dat7447.
But its Friday noon, a trade on 1H chart will be little difficult to
square off today.
  • #115
  • Dec 14, 2007 10:30am Dec 14, 2007 10:30am
Quoting billbss
The highs of the bars barely touch the EMA. Had price been moving toward the EMA, the EMA would have been rising above it and staying above price.
Thanks billbss. Then it should be current price to re-touch ema to be a valid condition.
  • #116
  • Dec 14, 2007 10:31am Dec 14, 2007 10:31am
Quoting SA_Node
Thanks billbss. Then it should be current price to re-touch ema to be a valid condition.
That's my understanding. Otherwise it isn't a retest.
  • #117
  • Dec 14, 2007 10:35am Dec 14, 2007 10:35am
Quoting billbss
That's my understanding. Otherwise it isn't a retest.
billbss let's say that u choose the best price to enter

u may not wait for the retest but you will put a 100 stoploss

u should be fleixable
freedomfigher
  • #118
  • Dec 14, 2007 10:39am Dec 14, 2007 10:39am
Quoting mindforex
billbss let's say that u choose the best price to enter

u may not wait for the retest but you will put a 100 stoploss

u should be fleixable
Is that a rule modification?

1. Wait for a retest of the 7EMA

OR

2. Use a 100 pip SL
  • #119
  • Dec 14, 2007 11:00am Dec 14, 2007 11:00am
Quoting billbss
Is that a rule modification?

1. Wait for a retest of the 7EMA

OR

2. Use a 100 pip SL

we can say that
freedomfigher
  • #120
  • Dec 14, 2007 11:36am Dec 14, 2007 11:36am
It's really a good method i try it for some time and i found that it indicates market trend and follow it .
I hope good help u
thanks for sharing it for us
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