TEB5MIN

Here is a system I played with last week and it worked well
you use it in day and 5 mins charts

day chart is the screening chart.
The only thing I have on it is a 7 EMA

I am looking at 3 things
1. Where the candle is over or under the 7EMA
2. Candle formation . esp the last candlr ie, green candle to go up.
3. Tails

all 3 must be in agreement to one way. and I am only looking to go that way

Them move to the 5 Min
I have 3 EMAS on it 5. 20,120


I want the 5ema to go below the 120ema (in an up trend)
Them come back thought up wards this is the sign to get in - to Enter

SL is the last swing down
or 50s & 100s on the charts ie. 1.550

TP is @ the 200% 1/2
& at the 300% the other 1/2
or 50s 100s on the charts
Or if the 5ems crosses back under the 20ema
Or 2 times your stop loss


TEB

Looks interesting TEB, how does it fare on ranging days? Perhaps an unfair question as most systems seem to suffer this problem of course!

Andy

Hello TEB! Quick question(s) here. Is the Daily based on previous days close, or just the current position when looking for a trade? That is, if it closed bullish and above the 7 ma, we are looking to go long on the 5m. Conversely, if the daily closed as a bearish candle, we are looking for a short on the 5m. Can see you want the 5m to drop, and then rise through the ma shown on the daily for a long, and vise-versa for a short. Somewhat seems like a "stochastic" here. Buy when it crosses a certain "zone" on a 5m, and sell when it falls through a certain "zone" on the 5m. Larger TF clarifies initial position, 5m is where we take the trades. Am I even close here??? Thx, X

Teb:d

Teb:d

and out - 2 places possible
I took the 2nd out

teb

Thanks , I add it to my 5min chart with keltner channel
Have u try keltner?