Sell U/J 107.396 Close 107.07 +32.6pips
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Forex intraday using the 5min chart: EURUSD 108 replies
The Force 5min system 3,806 replies
Intraday Pound Trades on 5min chart [GBPUSD] 36 replies
5min Bollinger breakout system 42 replies
DislikedHi Golfer,
The safest way to use my tool (not the most profitable one) is to stick with Phillip's original idea of his system. It is a simple method that does not require an advanced knowledge of technical analysis. The rule is: "Trade always in the direction given by price action, in other words if you want to short the first candle previous to your entry must be bearish and if you want to go long the first candle previous to your entry must be bullish. The bullish signal candle must always coincide with the first bullish signal bar displayed on my tool and the bearish signal candle must always coincide with the first bearish signal bar displayed on my tool. IF the trend is bullish buy at the open of the first candle that follows the bullish signal candle. IF the trend is bearish short at the open of the first candle that follows the bearish signal candle. To determine the bullish/bearish angle on the chart follow the positive/negative divergence of the threshold that I briefly explained yesterday or you might prefer to use the smAngle or you might prefer to use the judgement of your naked eyes. It's up to you how you prefer to determine that angle. I think that even my toddler can trade this simple method You will see on the chart (I took yesterdays GBP/USD downtrend as an example) positions in agreement with the conservative method and positions in agreement with a more aggressive method that I'm developing now.Ignored
DislikedHi Golfer,
The safest way to use my tool (not the most profitable one) is to stick with Phillip's original idea of his system. It is a simple method that does not require an advanced knowledge of technical analysis. The rule is: "Trade always in the direction given by price action, in other words if you want to short the first candle previous to your entry must be bearish and if you want to go long the first candle previous to your entry must be bullish. The bullish signal candle must always coincide with the first bullish signal bar displayed on my tool and the bearish signal candle must always coincide with the first bearish signal bar displayed on my tool. IF the trend is bullish buy at the open of the first candle that follows the bullish signal candle. IF the trend is bearish short at the open of the first candle that follows the bearish signal candle. To determine the bullish/bearish angle on the chart follow the positive/negative divergence of the threshold that I briefly explained yesterday or you might prefer to use the smAngle or you might prefer to use the judgement of your naked eyes. It's up to you how you prefer to determine that angle. I think that even my toddler can trade this simple method You will see on the chart (I took yesterdays GBP/USD downtrend as an example) positions in agreement with the conservative method and positions in agreement with a more aggressive method that I'm developing now.Ignored
Disliked5)Buy EurUsd. price found support on 10MA. Candles were showing higher lows and Smooth TC. +10pipsIgnored
DislikedI do agree with Island - looks interesting. Maybe you should explain your indicator, then I'll understand your explanation. At this stage it doesn't make any sense to me.
Like the 21MA on SMAngle indicator - if the 21 in in the non-trade zone (between 0.1 and -0.1 line) it means the 50MA's angle is less than 20 degrees and them move is not strong enough to trade. A basic principle of the system. If the 21MA crosses the 0.1 line, it means the 50MA angle is more than 20 degrees and the other way around.Ignored
DislikedIs anybody here who has mastered Phyllip's system and is now interested in implementing a counter trading strategy? Let me knowIgnored
DislikedPossible church patternd on gbpusd and eurusd, am stalking possible long...Ignored