i expect to get a lot of criticism on this system because it is very simple.
i made 100 pips on it yesterday buying the euro on the 15 min chart
and i made a 30 pips loss selling gbp jpy today, and a 140 pips profit buying gbp usd today.
on both these trades i should have held on according to my rules, but i wanted to take the profit.
the system conditions for entry:
change from candlestick charts to CLOSE line chart
plot the 30 ema on the 15 min chart
the 30 ema must be sloping upwards (recently, because you dont want to enter too late)
price must be above the 30 ema
price must be going higher and forming support on the 30 ema at higher prices since the 30 ema is sloping upwards.
price must be making higher highs and higher lows.
when all the above conditions are satisfied enter when price comes back to the 30 ema. make sure you dont enter too late. the ema must be sloping upwards very recently.
exit
when price breaks through the moving average strongly, the ema turns around and price starts forming resistance at the ema.
you should exit in the first instance when price strongly breaks the 30 ema. (not when its forming support on the 30 ema)
profit potential
empirical evidence suggests the moves can last for days & days...
my contact: [email protected]
i made 100 pips on it yesterday buying the euro on the 15 min chart
and i made a 30 pips loss selling gbp jpy today, and a 140 pips profit buying gbp usd today.
on both these trades i should have held on according to my rules, but i wanted to take the profit.
the system conditions for entry:
change from candlestick charts to CLOSE line chart
plot the 30 ema on the 15 min chart
the 30 ema must be sloping upwards (recently, because you dont want to enter too late)
price must be above the 30 ema
price must be going higher and forming support on the 30 ema at higher prices since the 30 ema is sloping upwards.
price must be making higher highs and higher lows.
when all the above conditions are satisfied enter when price comes back to the 30 ema. make sure you dont enter too late. the ema must be sloping upwards very recently.
exit
when price breaks through the moving average strongly, the ema turns around and price starts forming resistance at the ema.
you should exit in the first instance when price strongly breaks the 30 ema. (not when its forming support on the 30 ema)
profit potential
empirical evidence suggests the moves can last for days & days...
my contact: [email protected]