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Simple 5 / 8 moving average crossover

  • #661
  • Feb 7, 2008 4:23pm Feb 7, 2008 4:23pm
Thanks Baz, any chance you could outline your strategy, the few points you have mentioned have been really interesting and helpful, now looking at emas alot differently, I use to trade permanently on a 15m chart, using 8,3,3 stochs and taking triggers from ib's and ob's and divergence and convergence, and using a interday fibo, it meant sitting in front of a computer all the time and time now does not always allow it, its great scouring these forums but you can get boggled by all the strategys and info available. Im looking to try and trade now on a longer tf and not be in front of comp so often and use other indicators to access that.
The different timeframes you mentioned and setups coming down off varying tfs is very interesting especially using the ema's.
Could you elaborate
many thanks
respect
Tom(uk)
  • #662
  • Feb 8, 2008 12:58am Feb 8, 2008 12:58am
Quoting booktimes
Thanks Baz, any chance you could outline your strategy, the few points you have mentioned have been really interesting and helpful, now looking at emas alot differently, I use to trade permanently on a 15m chart, using 8,3,3 stochs and taking triggers from ib's and ob's and divergence and convergence, and using a interday fibo, it meant sitting in front of a computer all the time and time now does not always allow it, its great scouring these forums but you can get boggled by all the strategys and info available. Im looking to try and trade now on a longer tf and not be in front of comp so often and use other indicators to access that.
The different timeframes you mentioned and setups coming down off varying tfs is very interesting especially using the ema's.
Could you elaborate
many thanks
respect
Tom(uk)
Hi TOm
Regards to my strategy, its really difficult to put it down on paper.As i have not mentioned,but i even go down to the 1 min chart for a trigger point.
But lets take the System we have on this Thread ie 5/8 cross.
What you can do is start on the Daily,say you get a cross.
Then go down to the 4 hr to confirm that You have a cross ther as well.
But on the 4hr you need to plot the Fibos,Look for Divergence,place your Trendlines,Support lines etc.
Follow this up with the 200/60 Ema averages.Should you get at least 2/3 conflunces at a Price level on this chart, Zoom down to the 60 min chart.
Check your 200/60 emas, check for candlestick patterns,check for Double tops, etc.
If it looks intresting go down to the 30 min,apply the same test,BUT now look
for a trend line break that you can see easily,or a EMA break.
If you can see the break,THEN make sure if say you were shorting say,that you can also SEE a RESSISTANCE point above.
Ie it could be a higher Time FRame Trend line,or a moving average,or FIbo level,and also another short term fibo level as well.
The more reasons ,the more a LOW RISK,HIGH probability trade can line up.
I am not sure if this helps,but YOU ARE a HUNTER and we wait for the optium
set up to catch the "PREY" or TRADE.
IT may work or it may not.
I use MACD and CC.Thats it.
And another indicator called "common sense" used with Discretion
Peter i am sorry if i have moved this thread into another direction,but if i am able to give "IDEAS" you wont mind.
At the end of the day,Tom, YOU WILL BE SUCCESFUL only when you create something that suits you.
You may agree or disagree with the way i trade,but it is something that FITS
MY PERSONALITY and thats what you shoul do.After that just stick to it and plan your trades,and bring total dicipline to them.You cant fail.
Regards
baz
  • #663
  • Feb 8, 2008 1:01am Feb 8, 2008 1:01am
What are your settings for macd?
Tom(uk)
  • #664
  • Feb 8, 2008 1:27am Feb 8, 2008 1:27am
Quoting booktimes
What are your settings for macd?
Tom(uk)
There are 2 MACDS i use.One is my own settings that i use on the 30/5mins,which at this time i am keeping it to my self.THis is the Heart of my strategy and i wont pull the trigger without this in PLACE no matter what direction the trade is moving.
The second MACD settings i use for all other time frames is 13,21,9(8).
Once again i use this on the 30/60 min for my exit.
Regards
baz
  • #665
  • Feb 8, 2008 2:51am Feb 8, 2008 2:51am
Ok this should be my last EMA.
The 610 ema,plot this as well.Compare this ema on the euro 4hr charts,and see where the price dropped to yesterday and hesitated.
Is this a short bottom,cant tell,but we observe on lower TF for clues.
regardss
baz
  • #666
  • Feb 8, 2008 5:36am Feb 8, 2008 5:36am
Quoting baz
One bit of advice.
Create YOUR OWN tradind system,create aplan, and be diciplened enough to follow it thru" irepective to what "others " are saying.
This will make you successful, i gurantee it
baz
I agree with that.. always best to make your own system. Other peoples systems may not work for you, especially if a degree of discretion is involved.
  • #667
  • Feb 10, 2008 1:38pm Feb 10, 2008 1:38pm
Is this a valid short on USD/CAD daily?
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  • #668
  • Feb 10, 2008 1:50pm Feb 10, 2008 1:50pm
Quoting lholcomb
Is this a valid short on USD/CAD daily?
No, it isn't. I would wait even though (imvho) USD/CAD has turned bearish.
Humble Lifetime Member
  • #669
  • Feb 10, 2008 2:04pm Feb 10, 2008 2:04pm
Quoting Ash
No, it isn't. I would wait even though (imvho) USD/CAD has turned bearish.
According to the system this is valid though, correct? You are just saying it isn't valid due to the bullish sentiment (I think you meant bullish instead of bearish).

Just trying to make sure I understand - sill a noob on this system.
  • #670
  • Feb 10, 2008 2:08pm Feb 10, 2008 2:08pm
Quoting lholcomb
Is this a valid short on USD/CAD daily?
yes you are correct this is a valid short
but just take a look at the data
and make sure that Fridays ema`s have crossed over, first
  • #671
  • Feb 10, 2008 2:18pm Feb 10, 2008 2:18pm
Quoting croesesFX
yes you are correct this is a valid short
but just take a look at the data
and make sure that Fridays ema`s have crossed over, first
Ok, if you say so. I take no responsibility because the EMA's have not crossed over. I've been burnt before in pulling the trigger too early. I would wait until the EMA's cross over. Even the gentleman's indicators do not show the Ema's crossing over.
Humble Lifetime Member
  • #672
  • Feb 10, 2008 2:24pm Feb 10, 2008 2:24pm
Quoting Ash
Ok, if you say so. I take no responsibility because the EMA's have not crossed over. I've been burnt before in pulling the trigger too early. I would wait until the EMA's cross over. Even the gentleman's indicators do not show the Ema's crossing over.
I dont trade this pair thats why I cant comment
thats the reason I said take a look at the data if there is a cross on Friday
then its a valid signal
  • #673
  • Feb 10, 2008 4:30pm Feb 10, 2008 4:30pm
Quoting lholcomb
According to the system this is valid though, correct? You are just saying it isn't valid due to the bullish sentiment (I think you meant bullish instead of bearish).

Just trying to make sure I understand - sill a noob on this system.
Hi
If i were you i would wait for more data,there was a sharp decline on friday,there may be a retracement.
Just take a look at what happened to GBP/USD after NFP. You had a similar report on the canadian on friday.
regards
baz
  • #674
  • Feb 11, 2008 4:05pm Feb 11, 2008 4:05pm
Quoting booktimes
Hooray the Brit club
Tom(UK)
Hi All

been away for a while and i too am a member of the BRIT CLUB, birmingham is where i live, uk that is not birmingham alabama
  • #675
  • Feb 11, 2008 4:54pm Feb 11, 2008 4:54pm
Quoting pbalfe@tisca
Hi All

been away for a while and i too am a member of the BRIT CLUB, birmingham is where i live, uk that is not birmingham alabama
Well Arsenal will win the PREMIERSHIP ?
Dont know about u Brumies" staying up !!
all in good fun,before a Manchester UTD fan knocks me !!
regards
Baz
  • #676
  • Feb 11, 2008 5:52pm Feb 11, 2008 5:52pm
Quoting baz
Well Arsenal will win the PREMIERSHIP ?
Dont know about u Brumies" staying up !!
all in good fun,before a Manchester UTD fan knocks me !!
regards
Baz
Fortunately not a brummmie supporter, aston villa are my team and doing well we are
  • #677
  • Feb 12, 2008 3:01am Feb 12, 2008 3:01am
Quoting pbalfe@tisca
Fortunately not a brummmie supporter, aston villa are my team and doing well we are
Yes they are,have a lot of respect for Martin Oneil......ala Brian Clough
Baz
  • #678
  • Feb 12, 2008 5:38am Feb 12, 2008 5:38am
Quoting baz
Well Arsenal will win the PREMIERSHIP ?
Dont know about u Brumies" staying up !!
all in good fun,before a Manchester UTD fan knocks me !!
regards
Baz
behave yourself
  • #679
  • Edited 1:09pm Feb 12, 2008 1:03pm | Edited 1:09pm
Hi Guys
Regards to all the Ema i pointed out. The 610 ema on the Euro,as u can see how it acted as support,and see at the price action afterwards.
Use the Ema"s as dynamic support and ressistance points.
Chose the direction of your trade,and then watch out for the Ema"s.
These are plotted by most proffesional traders,maybe not all but i bet u at least 2/3 .
The 200 Ema and the 60 ema.Both are FIBO related.
Now the Euro is(probably) going higher,and hence is approaching the 60 ema on the 4hr.
So watch for either topping action or otherwise on the lower TF,and act accordingly.
All the best
Baz
Ps Keep an eye on the Canadian 30 min chart.Its approaching its 60 ema.
Also on the Canadian take a look at the 4hr chart in repect to the 60/200 ema.
There is a 50% fibo retracement,A bearish engulfing candle pattern,and we also have our 2 favourite Emas acting as Ressistance.
  • #680
  • Feb 22, 2008 1:53pm Feb 22, 2008 1:53pm
Dear PeterM,

Can we say that the following signal for GBPJPY is a correct sell signal as per your criteria but it failed?
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