Pls let me say sorry if you had answered this question before. Can Help me on this question
Q1) Your initial step is to pull the chart to daily. Look for the MA crosses up or down. For example, if the crosses appear in between the two candles. And the rsi condition is met. Do you still proceed? Does the crosses need to be as closed to the candles as much as possible.
Q2) I back test one of the recommended currency. One of the currency had
no crosses for the last2 week(i think in year 2006). Most of it is closed to one another(no crosses) before it separate and proceed with its trend. Therefore, what is the longest dry period you had with no trade? I guess thats why you trade on some other currency.
Q3) Do you count crosses that are very closed to another although they still crosses by little?
Q4) If the the MA condition were met. However, the RSI is only by marginal.
eg, -50.03 or 50.2. Do you still take that as one of the high probability trade consideration?
Q5) Once everthing is inline, i go to one hour and look for all 3 condition to be satisfied. eg, if the MA and rsi indicate downtread yesterday. That means today i be looking for all 3 to met at down trend. With regards to the stoch, i be looking for the crosses that indicate down is it? Does the value play any part to high probability?
I guess most of you already know. Just help me on this.
hey vincent what you look for at the close of the daily candle is if 5 ema is over or under the 8 ema if it is then if rsi is below or above 50 level the same way of crossed ema's you look for trade only in that direction it has nothing to do with where the candles are or anything else its the value of the ema like 1.3345 1.3346 that is a short with the emas and if the rsi is say 48.9973 that confirms it now if one is going in another direction you dont trade that pair till it does it might be a day or so also the rsi has to be 49.5 to go short or 50.5 to go long vincent i just went over you question are we talking the same method i am trading 123 patterns on 5 minute charts are you
hey jorene long time no see and yes it is a recession proof business until the thing called money is taken out of the way then it becomes the gold business
hey joel jorenes back remember the song leader of the pack(lol) as far as the brokers going belly up it depends where you have your money yes room is open an i am in there
No still in Dallas. Had to go to New Mexico and have been super busy on all fronts. With markets so volatile, I took some time to take care of other business. I have been monitoring the Forex Factory so have kept tabs on you. Just had not been in the trade room. Will have to sort out how to get it going again.
How are things with you? Have been very happy to see you continuing to mentor new traders.
hey vincent what you look for at the close of the daily candle is if 5 ema is over or under the 8 ema if it is then if rsi is below or above 50 level the same way of crossed ema's you look for trade only in that direction it has nothing to do with where the candles are or anything else its the value of the ema like 1.3345 1.3346 that is a short with the emas and if the rsi is say 48.9973 that confirms it now if one is going in another direction you dont trade that pair till it does it might be a day or so also the rsi has to be 49.5 to go short or 50.5 to go long vincent i just went over you question are we talking the same method i am trading 123 patterns on 5 minute charts are you
Ignored
Thanks alot. Yes. On the same track method.
Your post 1 mentioned after daily go look at the hourly.
But on second look on page 252. The next step to go is the 123 on 5 min.
I need to go backtest to practise the 123 pattern. One last thing, if all 3 conditions say down trend. You go to 5 minute and look for the 123 pattern. And trade only purely on the short trade.
o ryou sometimes go for long trade?
i've got my own brokerage