4H 5EMA System | Page 103 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

TEB 5ema & 12ema and 21 RSI (MTF) 1,730 replies

5EMA hilo system, and EA Idea 18 replies

4H 5EMA System's EA 79 replies

4HR 5EMA Expert Advisor 42 replies

when 5EMA crosses out of 55LWMA channel 0 replies

Attachments: 4H 5EMA System
Exit Attachments

4H 5EMA System

  • #2,041
  • Dec 2, 2008 9:07am Dec 2, 2008 9:07am
Ok, our new bar has formed.We moved our new SL 5 pip below of Bar (R) which is 1.4768

Even we dont have a proper setup bar for a Sell, what do we do if price breaks the low of Bar R?? We go short?? If yes, at what price??
Thanks everyone..
Attached Image (click to enlarge)
Click to Enlarge Name: kiopkop.gif Size: 15 KB
  • #2,042
  • Dec 2, 2008 9:19am Dec 2, 2008 9:19am
Quoting The7
Ok, our new bar has formed.We moved our new SL 5 pip below of Bar (R) which is 1.4768

Even we dont have a proper setup bar for a Sell, what do we do if price breaks the low of Bar R?? We go short?? If yes, at what price??
Thanks everyone..

the current open bar when it close can be a setup bar for sell...
  • #2,043
  • Dec 2, 2008 9:23am Dec 2, 2008 9:23am
Quoting The7
Ok, our new bar has formed.We moved our new SL 5 pip below of Bar (R) which is 1.4768

Even we dont have a proper setup bar for a Sell, what do we do if price breaks the low of Bar R?? We go short?? If yes, at what price??
Thanks everyone..
Since the reversal bar is now closed, you place a sell stop order at the same price as the SL for the current long;

And yes, both of them go to the lower of the closed reversal bar -5.
  • #2,044
  • Dec 2, 2008 9:26am Dec 2, 2008 9:26am
Quoting zima805
the current open bar when it close can be a setup bar for sell...
Yes, but that doesn't matter. It will only matter less than 4H from now;
The reverse order must be placed now (when the reversal bar closed), and if 4H from now the current bar is a setup bar to a short, then we will act accordingly.
  • #2,045
  • Dec 2, 2008 9:37am Dec 2, 2008 9:37am
Hi there,

Thnks to everybody esp Sterling viperxx and pipster. I always forget that you always have to buy a pending order on stop loss reversal, because I have rule no1 etch forever in my mind. Thanks a lot guys.

I think i am as much confuse as swakop...hehe at least its not me alone


uh uh miss the nice long ( currently 90+ pips on my IBFx ) due to attending a dinner meeting , looks like a good start for the month
  • #2,046
  • Dec 2, 2008 9:53am Dec 2, 2008 9:53am
Quoting tonirai
Since the reversal bar is now closed, you place a sell stop order at the same price as the SL for the current long;

And yes, both of them go to the lower of the closed reversal bar -5.
Ok, this is the second exception we encounter today. When the reversal bar closes, you place the reversal order at the SL defined from the previous setup bar (i.e. you don't mess with the SL generally speaking) UNLESS:

1- The reversal bar proves to be also a setup bar to go in the opposite direction. OR

2- It makes a lower low before triggering the trade (or higher high in case of a pending sell)

In any of the above two conditions, the SL of your entered trade gets adjusted to the reversal bar's low/high, and so would the reverse order since it must be placed at the SL of the live trade.

Correct Toni?
  • #2,047
  • Dec 2, 2008 9:54am Dec 2, 2008 9:54am
Can somebody confirm
We have now on market
long
SL 1.4768
and
sellstop
price 1.4768
SL 1.5076
Thanks
Peter
  • #2,048
  • Dec 2, 2008 10:03am Dec 2, 2008 10:03am
Quoting CitiTrade
Ok, this is the second exception we encounter today. When the reversal bar closes, you place the reversal order at the SL defined from the previous setup bar (i.e. you don't mess with the SL generally speaking) UNLESS:

1- The reversal bar proves to be also a setup bar to go in the opposite direction. OR

2- It makes a lower low before triggering the trade (or higher high in case of a pending sell)

In any of the above two conditions, the SL of your entered trade gets adjusted to the reversal bar's low/high, and so would the reverse order since...
You've got it
  • #2,049
  • Dec 2, 2008 10:04am Dec 2, 2008 10:04am
Quoting pitpiter
Can somebody confirm
We have now on market
long
SL 1.4768
and
sellstop
price 1.4768
SL 1.5076
Thanks
Peter
Correct
  • #2,050
  • Dec 2, 2008 11:52am Dec 2, 2008 11:52am
ah so the "normal" stop loss is just 5 pips away the low, but the "reversal trade" stop loss is 5+spread away.

is it correct?
  • #2,051
  • Dec 2, 2008 12:15pm Dec 2, 2008 12:15pm
Quoting Corre
ah so the "normal" stop loss is just 5 pips away the low, but the "reversal trade" stop loss is 5+spread away.

is it correct?

All operations which are "buys" (SL on short and buy stops) have 5+spread;
All operations which are "sells" (SL on long and sell stops) have 5.
  • #2,052
  • Edited 1:05pm Dec 2, 2008 12:42pm | Edited 1:05pm
Quoting tonirai

All operations which are "buys" (SL on short and buy stops) have 5+spread;
All operations which are "sells" (SL on long and sell stops) have 5.

You made a big point here Tonirai, thank you
I am following this thread since the beginning and it amazes me how such a simple system gets me confused when exceptions occure.( No valid setup bars).
Sterling we all appreciate your ( and others) patience and willingness to answer the same questions over and over..
  • #2,053
  • Dec 2, 2008 1:18pm Dec 2, 2008 1:18pm
I think we're in a bit of a bind. Due to an immediate move (drop) I wasn't able to place the new sell and move the sl for the long we have because the market dropped in the minutes following the finish of the formation of the setup bar we have for sell which closed 17 minutes ago. Anyone else had this problem? (in other words, the position was missed because I shoulda been short now with the sl for the long we had triggered at 1.4880 for -31 pips.
  • #2,054
  • Dec 2, 2008 1:22pm Dec 2, 2008 1:22pm
Is Bar 1 a proper Setup Bar?? If yes we must be in a Short Trade now??
Attached Image (click to enlarge)
Click to Enlarge Name: gb.gif Size: 14 KB
  • #2,055
  • Dec 2, 2008 1:22pm Dec 2, 2008 1:22pm
Quoting CitiTrade
I think we're in a bit of a bind. Due to an immediate move (drop) I wasn't able to place the new sell and move the sl for the long we have because the market dropped in the minutes following the finish of the formation of the setup bar we have for sell which closed 17 minutes ago. Anyone else had this problem?
Cititrade,

I'm using Alpari US and I did not face any issues placing the Sell stop or moving the previous buy's SL.

Right now the buy trade has been closed and the new sell triggered.

Thanks
Peace
  • #2,056
  • Dec 2, 2008 1:28pm Dec 2, 2008 1:28pm
Quoting denverdude
Cititrade,

I'm using Alpari US and I did not face any issues placing the Sell stop or moving the previous buy's SL.

Right now the buy trade has been closed and the new sell triggered.

Thanks
Peace
You must have done immediately after the bar closed. I waited like 5 minutes, and I couldn't do it as the market approached the intended sell stop price. So I am flat now because I made the mistake of waiting 5 minutes.
  • #2,057
  • Dec 2, 2008 1:31pm Dec 2, 2008 1:31pm
Quoting JokeR
Is Bar 1 a proper Setup Bar?? If yes we must be in a Short Trade now??
Yes, the problem for me was, do you see how the forming bar after it went right by the levels of where you entered the sell stop and and sl for the previous long, thus triggering both before I even had the chance to enter these new mods. It all happened in short minutes (went to watch Grey's anatomy for a second and by the time I came back, it was too late).
  • #2,058
  • Dec 2, 2008 1:32pm Dec 2, 2008 1:32pm
Quoting CitiTrade
I think we're in a bit of a bind. Due to an immediate move (drop) I wasn't able to place the new sell and move the sl for the long we have because the market dropped in the minutes following the finish of the formation of the setup bar we have for sell which closed 17 minutes ago. Anyone else had this problem? (in other words, the position was missed because I shoulda been short now with the sl for the long we had triggered at 1.4880 for -31 pips.
CitiTrade,

I missed it too (my fault) so I've put a sell limit on in case it goes up a bit.
  • #2,059
  • Dec 2, 2008 1:39pm Dec 2, 2008 1:39pm
Current Trade:
Sell Order triggered at 1.4880
SL for Sell 1.5076 (Spread+ 5 of bar which touched both Ema's.
What about Buy Stop and SL for buy Stop???
  • #2,060
  • Dec 2, 2008 1:41pm Dec 2, 2008 1:41pm
Quoting Arnold49
CitiTrade,

I've put a sell limit on in case it goes up a bit.
good idea.
0 traders viewing now