TEB 5ema & 12ema and 21 RSI (MTF)

In long on eur/usd at the moment. 1st lot out at + 10, 2nd lot still going at the mo but there not much happening currently. 2nd lot at +10 so hoping for price to shoot up any second!! nice stress-free system so far. 3rd trade today on eur/usd. first two were both out at +10 on first lot and BE for second lot. up 30 pips today.

In short on eur/usd. 5min was short, entered on the 1 min. 30 min dropped under a previous low. 1st lot out at +10. second at BE

Moved SL on 2nd lot to the last swing on the 5min to lock in +10 pips. price dropping nicely at mo.
............Moved SL to next 5 min swing. +20 locked in now on the 2nd lot
................Moved SL to next swing. +30 pips locked in now
.......................Moved SL to next swing on the 1min as price seems to be stalling and there was a medium news on the board. now +40 locked in.
.....All is well again. SL moved to lock in +50
...Closed trade at +110 pips!

Hi Iak

Not sure your short trade followed the rules of this system. But as long as you made money, that's the important thing.

Jobey

Seems like the EUR/USD is setting up for short trades now. (15:50)

Im not sure either lol!

Got out of trade at +110 pips. I know it wasnt exactly by the book but i have the same set-up and 30, 5 and 1 min in front of me. Took 6 trades today. First 3 +10 on 1st lot and BE on 2nd. next 2 trades i lost -5pips x2 and then again. Then i could see tide was turning on the 30 so i decided to go with what the 5 and 1 were saying. prob just got lucky today. Anyway, very pleased. gunna give my eyes a rest now and finish my taxes!!

That's OK then. So long as I'm not mis-reading my charts.

The E/$ crossed down on the 30M TF at 07:30 CDT/US. Caught +32 pips; sell @ 1.2896, TP 1.2864. One of the hazards of "set & forget" is that the pair is now around 1.2800 or lower! But my 32 are in the bank and I'm done for the week - have a nice weekend all. p.

edit - "prob just got lucky today." per iak. I was watching a reality crime show and one of the detectives said that he would rather have a partner that was lucky than good. Nice job, wish I could train myself to get up at 1 a.m. & trade the London but the N.Y. session will have to do.

hi Everyone

I had a great week. Esp on the USD/CAD
I has well over 1000 pips for the week!!

I sent the below out to my mailing list today
if you want to be on that list
just send and email to
[color=#22229c][email protected][/color]

Cheers

tebhttp://cdn.forexfactory.com/images/s...m/big_grin.gif

Day of July 25 to 26Trend /Trade / Strength

Eur/Usd No Trend ↔
Gbp/Usd Bull trend ↑
Usd/Chf Bear Trend ↓↓↓
Usd/Jpy Bear Trend ↓↓

Eur/Jpy Bear Trend ↓↓
Eur/Gbp No Trend ↔
Eur/Chf No Trend ↔

Usd/Cad No Trend ↔ (See Note)
Aud/Usd Bull trend ↑
Nzd/Usd Bull trend ↑↑↑

Trend Key
Bull trend Bear TrendWeak TrendNo Trend ↔
Strong ↑ / ↓ Stronger ↑↑ / ↓↓ Very Strong ↑↑↑ / ↓↓↓
No Trend Day ∩1.Interest Rate 2.Nonfarm Payroll 3.Holidays 4.Elections

· Best to trade a pair that does business in the hours you are trading.
· The best days to trade trend are Tues, Wed, Thru.
· Worst times are Sunday night and Friday after 12noon EST. (NY NY)


Note: I see this pair as having changed to a down trend just not showing on the charts yet.
See attachment on how I have been trading it.
I closed all trade on Friday but will be looking to get back in on Monday.
some where about the 00 above.
__________________

Hi TEB,

Can you post a chart when you enter a trade so we can see your analysis and timing an entry. It is very important to determine a trend and very very important to enter a trade at the right moment.

Have a nice weekend

Thanks

I have posted this quite a number on this threat .
in fact a number of times the whole trade and how I managed it,
from start to end.
Please free free to read the thread.

cheers

teb

Hi Teb,

I just finished reading the thread, thanks for the simple system, its rather simple with the exception of using candle sticks to determine PA, which i feel requires quite a bit of discretion.

Most of your candle stick formations that you use seem to be continual trend patterns instead of reversal trend patterns? As i understand that candle sticks are most effective for reversal patterns?

Thanks for your inputs and the knowledge you have imparted. Anyway will it be possible to send me the 5 candlestick formations that you have compiled, and also the 1-2-3 Breakout. Sorry, wished i had joined the thread earlier.
I will be sending you an email shortly.

Thanks!

Btw i like it that you smile everytime even at your detractors.

Just a quick thought. TEB says the EUR/USD is in bull trend. At the moment there seems to be a sell setup shaping up on the 30 min chart.
Would this be a valid trade assuming the 5 min sets up as well?

Thanks.

I entered short at 2986 - a bit over zealous. Luckily only on my demo account. Doesn't seem to be working out too well at the moment.
We live and learn!!

Hi Jobey!

When you short Euro you go counter trend from 4h chart. You can do counter trend trade but it is a short live.
Most of the time the Bigs Dogs enter their trades in 4h chart. If we, the day to day traders, determine the trend from the 4h chart then we can assure riding the wave longer.

First I determine the trend in 4h chart (5/10 ema and filtered by RSI(9) & stoc(10,3,3). If 5/10 ema cross down, 4h chart, confirmed by rsi(9) is below 50 and stoc(10.3.3) cross down then I'm only looking short trade signal in 30 min chart with 5/10 ema cross down confirmed by RSI(20) below 50 and stoc(10.3.3) cross down too. Then wait for the tracement in 5 min chart to enter a trade with the minimum stop loss.

Hope it helps

Thanks

Hi Sriloba

Thanks for that. I was stopped out - thankfully demo - but as it turns out, had I put a wider SL on it would have finally come back into profit. (Story of my trading career).
But I am doing better following! this system.

Hi all!

I like to put the weekly pivot and determine the market flows (fractal) on 4h chart to look for the S/R.

And I put 200 ema in 4h-30min-5min charts for the over all trend.

When 5/10 ema ( or 5/12 ema) cross up/down above/below 200 ema in 4h-30min-5min charts combined with keys S/R ( pivot lines or fractal or candles patterns or fibonacci lines ) then we have the high probability of the long/short trade. I consider the 200 ema as the fair value. When price goes far away from the 200 ema then price tends to come back to bounce or to break.

Thanks

Hi Sriloba

Sounds good sense. Although it does seem to be adding to TEB 63s system. I will be glad to hear TEB 63s view, and see what he does longer term.

Thanks, I will look at what you say.

Hi all!

I like to put daily pivot on 30 min chart to guide me the direction (M1/M3 or M2/M4 day) and also to take the profit (TP).

Thanks

I am a new member here on the forex factory forums. I have been reading so many excellent posts from a variety of authors and have found many useful ideas in my trading,specifically in the eu/usd which is my main interest. I trade only a few hours a day since I have a full time job starting 8:30 EST. I attempt my trading approximately from 5:30 am EST to 8:00 Monday through Friday from my home. I use the cornflower method for support and resistance levels as well as its alerts in looking at trends, especially on the hour 30 minute and 5 minute. I have found the TEB 5/12 21 RSI an excellent addition to my trading. My problem seems to be that of timing where much of the action appears during those early trading times of London which starts at 3:00 est. Does anyone have an idea from there experiences which of the 5/12 or 21 rsi indicators and time frame is best to have as an alert for my cell phone to awaken me in the attempt to place a trade before leaving for work? I attemt to get from 3-5 pips per day as an addition to my salary working off of the five minute. The four hour and the hour are great time frames for alerts but the drawdowns are so great which is no fault of the timeframe since it needs time to work for a potential profitable trade. Any thoughts greatly appreciated. Belmonte