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Simple 5 / 8 moving average crossover

  • #621
  • Edited 11:27am Feb 6, 2008 11:25am | Edited 11:27am
Quoting croesesFX
just looking again at this pair it bounced off the daily support
and also hit the daily pivot
if it finishes below pivot today I will short again
cheers
For your info,for me the 4hr system went long at 4.00 pm uk time.
I did not short the EUr/Yen this morning.I will stand aside for now
regards
baz
Ps But you must stick to your plans !!!
  • #622
  • Feb 6, 2008 2:54pm Feb 6, 2008 2:54pm
Quoting baz
For your info,for me the 4hr system went long at 4.00 pm uk time.
I did not short the EUr/Yen this morning.I will stand aside for now
regards
baz
Ps But you must stick to your plans !!!
The 4 hr now reversed to short at 8.00pm.But iam not sure,tommorow is "D " day regards to inrest rate.
The signal is now short for Euro/Yen,but i shall see tommorrow am
regards
baz
  • #623
  • Feb 6, 2008 3:50pm Feb 6, 2008 3:50pm
Quoting baz
The 4 hr now reversed to short at 8.00pm.But iam not sure,tommorow is "D " day regards to inrest rate.
The signal is now short for Euro/Yen,but i shall see tommorrow am
regards
baz
I cannot see this effecting this pair with regards to interest rate
personally I will short this if at the end play today the market is below the pivot
cheers
  • #624
  • Feb 6, 2008 4:00pm Feb 6, 2008 4:00pm
ok guys
I`m now short cad/jpy @ 105.87
cheers
  • #625
  • Feb 7, 2008 1:15am Feb 7, 2008 1:15am
Quoting croesesFX
ok guys
I`m now short cad/jpy @ 105.87
cheers
YES this pair is a short,i will wait for signal on 30 min chart to enter,which at the momment is not playing ball !!
baz
  • #626
  • Feb 7, 2008 3:43am Feb 7, 2008 3:43am
hi guys,

how do you determine when to exit or the target profit ?

when the 5 ema cross back 8 ema again ?
  • #627
  • Feb 7, 2008 3:46am Feb 7, 2008 3:46am
the euro is now hitting the 60 ema on smaller time frame.

for this system, do we take care whether it will hit 60 ema on which time frame ? or as baz says 30 mins, H1 etc ? do we go down further to 5, 15 ?
  • #628
  • Feb 7, 2008 3:55am Feb 7, 2008 3:55am
Quoting darrenH
hi guys,

how do you determine when to exit or the target profit ?

when the 5 ema cross back 8 ema again ?
when to exit a trade is really down to you
whether you have a pre determine amount
or when the emas cross back

its your call
cheers
  • #629
  • Feb 7, 2008 3:58am Feb 7, 2008 3:58am
Quoting darrenH
the euro is now hitting the 60 ema on smaller time frame.

for this system, do we take care whether it will hit 60 ema on which time frame ? or as baz says 30 mins, H1 etc ? do we go down further to 5, 15 ?
as I mentioned to Baz
this system is worked on the 2 emas crossing each on a daily chart
not 5, 15 or 30 min
but if you like Baz want to add things to the pot and stir them up
who knows what might come out of it
cheers
  • #630
  • Feb 7, 2008 4:06am Feb 7, 2008 4:06am
Quoting darrenH
the euro is now hitting the 60 ema on smaller time frame.

for this system, do we take care whether it will hit 60 ema on which time frame ? or as baz says 30 mins, H1 etc ? do we go down further to 5, 15 ?
The thing regards the lower TF emas,observe the price at this levels.Look at the candle patterns.
Try and take/stay in trade in line with your hgher TF and ur risk tolerance.
At this momment the daily is short,there is indescion on the 4hr but mildly bullish,the 1 hr has turned bullish,and so has the 30 mins as well.
Keep an eye on what happens when the price tests last weeks lows,if they get there.
As for me i stay out until the rate decsion is out and than decide afterwards if i am going to trade or not or just wait next day.
When you enter a trade,you must have a plan,ie stoploss, trailing stoploss or even Targets for profits
regards
baz
  • #631
  • Feb 7, 2008 4:10am Feb 7, 2008 4:10am
Quoting baz
The thing regards the lower TF emas,observe the price at this levels.Look at the candle patterns.
Try and take/stay in trade in line with your hgher TF and ur risk tolerance.
At this momment the daily is short,there is indescion on the 4hr but mildly bullish,the 1 hr has turned bullish,and so has the 30 mins as well.
Keep an eye on what happens when the price tests last weeks lows,if they get there.
As for me i stay out until the rate decsion is out and than decide afterwards if i am going to trade or not or just wait next day.
When you enter a trade,you must have a plan,ie stoploss, trailing stoploss or even Targets for profits
regards
baz

ok, thansk for the insight on the euro. ya the rates are coming soon. scary, not sure wat is going to happen.
  • #632
  • Feb 7, 2008 4:14am Feb 7, 2008 4:14am
Quoting darrenH
ok, thansk for the insight on the euro. ya the rates are coming soon. scary, not sure wat is going to happen.
Darren,if you are not sure,then just stand aside or demo trade ur trading plan.
Loss of opportunity is better than loss of capital
baz
  • #633
  • Edited 4:23am Feb 7, 2008 4:21am | Edited 4:23am
Quoting darrenH
ok, thansk for the insight on the euro. ya the rates are coming soon. scary, not sure wat is going to happen.
darren,for ur learning purpose,check the 60 ema on the 30 min Cable,and see what happened today.
The 7.30am candle was the place to short on a close.I have my own strategy that gives me my trigger point.
baz
  • #634
  • Feb 7, 2008 4:22am Feb 7, 2008 4:22am
Quoting baz
Darren,if you are not sure,then just stand aside or demo trade ur trading plan.
Loss of opportunity is better than loss of capital
baz


ok, well said! loss of opportunity is better than loss of capital.
  • #635
  • Edited 4:28am Feb 7, 2008 4:27am | Edited 4:28am
Quoting darrenH
ok, well said! loss of opportunity is better than loss of capital.
Daren go over to Euro/yen.Its at its 60 ema on the 30min,and it seems a bearish engulfing candle pattern is taking shape ie 10.30 am candle.
baz
  • #636
  • Feb 7, 2008 4:29am Feb 7, 2008 4:29am
Quoting baz
darren,for ur learning purpose,check the 60 ema on the 30 min Cable,and see what happened today.
The 7.30am candle was the place to short on a close.I have my own strategy that gives me my trigger point.
baz
yeah, it keep testing the resistance of the 60ema on the 30 min cable...

saw the 730min candle.. u are saying u would short there, bcos of the retracing from the 60ema? .
  • #637
  • Feb 7, 2008 4:31am Feb 7, 2008 4:31am
Quoting baz
Daren go over to Euro/yen.Its at its 60 ema on the 30min,and it seems a bearish engulfing candle pattern is taking shape ie 10.30 am candle.
baz

yeah, saw it, bearing engulfing~ so trending down soon?

jus tested 60ema....
  • #638
  • Feb 7, 2008 4:36am Feb 7, 2008 4:36am
Quoting darrenH
yeah, it keep testing the resistance of the 60ema on the 30 min cable...

saw the 730min candle.. u are saying u would short there, bcos of the retracing from the 60ema? .
I trade day only,but i use the higher TF for direction,and take trades in that direction only.BUT the lower time framrs have to play Ball,otherwise i stay aside.
The 200 ema and the 60 ema are the most watched and acted upon by traders.Trend lines can be indvidualised by each trader,but the Emas are unversaly the same on all the traders charts.
As for me the Emas rule.
regards
baz
  • #639
  • Edited 4:45am Feb 7, 2008 4:39am | Edited 4:45am
Quoting darrenH
yeah, saw it, bearing engulfing~ so trending down soon?

jus tested 60ema....
Darren please i dont want to confuse you,but at 10.30 close of the candle i would move down to the 5 min chart to fine tune a possible entry point.
Ie break of trend lines, support, 123 formation, break of the 5 mins ema and crossover etc
baz
ps at this momment the 30 min ,60 min,and 4hr are not playing ball !!
the daily is short
  • #640
  • Feb 7, 2008 4:45am Feb 7, 2008 4:45am
Quoting baz
I trade day only,but i use the higher TF for direction,and take trades in that direction only.BUT the lower time framrs have to play Ball,otherwise i stay aside.
The 200 ema and the 60 ema are the most watched and acted upon by traders.Trend lines can be indvidualised by each trader,but the Emas are unversaly the same on all the traders charts.
As for me the Emas rule.
regards
baz

icic....
anyway, on the 15 min, euro hitting the 200 ema......
jus closed my Cable for 61 pips....dun
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