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Attachments: 1 hr HAMA, 6 ema
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1 hr HAMA, 6 ema

  • #81
  • Dec 14, 2009 4:07am Dec 14, 2009 4:07am
Mon and Tues were the best days for gu.
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  • #82
  • Dec 14, 2009 8:04am Dec 14, 2009 8:04am
Hello

I am a newbie. I get lost in technicalities. Could someone explain this strategy to me please?
I have understood the HAMA and 6Ema on 1hr chart part and then I am lost. Could not understand the entries off 1m and 5m charts..

Thanks
Faith with Action
  • #83
  • Dec 16, 2009 10:00am Dec 16, 2009 10:00am
Quoting hinnavaru
Hello

I am a newbie. I get lost in technicalities. Could someone explain this strategy to me please?
I have understood the HAMA and 6Ema on 1hr chart part and then I am lost. Could not understand the entries off 1m and 5m charts..

Thanks
Hi
I've been out for most of last 2 days and hardly traded. Basically you are using the 1 hr chart to determine trend and quite simply saying above below 21 ema/hama is where you want to be trading (yes of course there are lots of other methods that may get you in earlier but this method does have high success rate).

OK so once you are above the 1 hr chart ema then you want to be looking at higher lows on 5 min.

Below 1hr 21 ema/hama looking for lower highs on 5 min. That enables you to get good entries with relatively small stops.

Some charts coming.
  • #84
  • Dec 16, 2009 10:03am Dec 16, 2009 10:03am
I'll base both trades from this 1 hr chart.
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  • #85
  • Dec 16, 2009 10:16am Dec 16, 2009 10:16am
OK look at 15 Dec on the above 1 hr chart. Price closes below the 21 ema/hama with an engulfing red candle. So you are looking to sell.

On 5 min I have an 8 linear weighted MA, for sells I'd like to see shooting stars (inverted hammers) or solid red closes that have little or no lower wick and are distinct lower highs. When the 5 min set up candle is there I just want price to fall 1 pip below the 5 min set up candle to confirm.

The line on left of chart 7.55 shows the close of the 1 hr set up candle. You'll see a red down arrow with price closing around 6278, a clear lower high. This trade didn't work out nothings perfect.

On 1 hr chart theres a doji and then a large shooting star. The 2nd red line on 5 min 9.55 shows the close of 1 hr candle.

5 min chart shows 2 clear lower highs that resulted in 2 winning trades.
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  • #86
  • Dec 16, 2009 10:23am Dec 16, 2009 10:23am
Quoting Vantage
OK look at 15 Dec on the above 1 hr chart. Price closes below the 21 ema/hama with an engulfing red candle. So you are looking to sell.

On 5 min I have an 8 linear weighted MA, for sells I'd like to see shooting stars (inverted hammers) or solid red closes that have little or no lower wick and are distinct lower highs. When the 5 min set up candle is there I just want price to fall 1 pip below the 5 min set up candle to confirm.

The line on left of chart 7.55 shows the close of the 1 hr set up candle. You'll see a red down arrow with price closing...
The downside was limited to the 4hr lower TL and W M2 pivots as per attached charts.
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  • #87
  • Edited 10:55am Dec 16, 2009 10:34am | Edited 10:55am
Back to the 1hr chart from post 84. 16 Dec, the first 1 hr candle highlighted closes above the ema but with a decent upper wick. It does however close above the recent range so we think theres going to be a move up.

5 min chart, red line on left at 8.55 shows close of 1 hr candle. Theres an immediate higher low that just crosses the 8 lwma. See the up arrow. This one again is a losing trade. The next potential trade marked with an x is no trade as price has in the interim made a lower high and a lower low i.e. take care.

There is a higher low marked with a tick and up arrow above the 5 min 252 ema (= 1hr 21 ema), it doesn't have a closed 1hr candle set up but I take these trades all the time.

OK the next 1hr candle close above the 1hr 21 ema is shown by the red line 11.55. That candle on 1 hr also is the higher low on 5 min at the same time, doesn't matter take it. This trade ran up about 100 pips to W M 3.
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  • #88
  • Dec 16, 2009 10:36am Dec 16, 2009 10:36am
So over the space of 2 days 4 trades. Roughly -30 on the 2 losers and approx 160 available from 2 winners.
  • #89
  • Dec 16, 2009 10:46am Dec 16, 2009 10:46am
Quoting hinnavaru
Hello

I am a newbie. I get lost in technicalities. Could someone explain this strategy to me please?
I have understood the HAMA and 6Ema on 1hr chart part and then I am lost. Could not understand the entries off 1m and 5m charts..

Thanks
Look at post 1 at the link to the higher low, lower high thread if you need anymore help. OK 1 more chart to try and clearly show hl's and lh's.

This 1 min chart just shows some good examples.

Can you see the 'waves' in price for the various higher lows etc etc.
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  • #90
  • Last Post: Dec 18, 2009 12:04am Dec 18, 2009 12:04am
I really haven't been trading much over last few days. Its holiday time here and hot, hot, hot Swimming pool was a lovely 26C yesterday. We have people coming over for lunch and I have to do some shopping before that so hopefully FH/London will play ball.

On 16th there was at least 100 pips available in move up and for guys trading Asian session on 17th the start of a massive day. It took UK news to move the market significantly after that.
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