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

Moved SL to 1.3251. Let it ride some more.

2nd lot stopped out at 1.3232 for +98.

Excellent trade rolo.

For those of you who are suffering from "TEB withdrawal" you can find him at http://www.forexfactory.com/showthread.php?t=274212 .

Great set up on the Usd/Chf on the hour



TEB

hello, TEB long time no see .how are you doing ?

still looking to get in



teb

Forget this trade

Teb

Hey TEB do you still use this system? It's been a looooong time since anyone posted here.

sometime for fun
but I do just mostly PA and RRR for real trading

Teb, is that because you found the system to be unprofitable in the end? Can I ask what PA system you would recommend?

no not at all, but it all all systems based on tools and not PA and RRR are like training wheels
a time comes when you want to move away from training wheel.

system works best with two TF, ie 5 mins and 30min in the opening two hours of any market or news times
or 1 hour and 4 hours other times

Cheers

Teb

Well I don't mind using training wheels for now. I have incorporated the multi time frame on 5 min chart by adding a 30 EMA representing the 5 EMA on a 30 min chart (6 x 5 = 30) and a 72 EMA representing the 12 EMA on the 30 min chart ( 6 x 12 = 72) I have also added a 120 RSI representing the 20 period RSI on the 30 min time frame. Do you see any disadvantages in doing it this way?
Attached is the set up on my chart.
You can see I have a an indicator that signals Short Engulf and Long Engulf candles. Can I ask where you would have placed your trades on this chart? I have already taken a 10 pip trade after the first Short Engulfing candle. I imagine pullbacks after the first cross are more risky?
What other candle formations would you recommend TEB ?
I am working my way thru your thread. Love what I have read so far and was worried when I saw you had stopped participating in the thread which is why I contacted you. Thank you for the information

Here is the chart I referred to in the previous post

TEB the thing I find frustrating with this is knowing when the angle is right. Sometimes the angle looks flatter and you would get whip sawed to death if you entered on a pull back. Other times it looks nice and steep but as so as you enter it peters out. So far I can only make this system break even at best. Any help would be appreciated.

And to judge where the pullback is, is tricky too. Sometimes you enter on a pullback to the 5 and 12 EMA and then it pulls back further and stops you out.

I find two charts better -- one of the reasons is the very thing you speak of. but more to the point do top down,
ie, find a great chart on the 30 min then move down to the 5 min chart. I think you will find easier.

also the higher the time frame the easier to trade - I only trade on the 4 hour and up now,

cheers

teb

not the right time to trade this ie 30 min and 5 min
- need to trade this after the europe open - better the london open
- here is the systen and reasons

Thank you sooooooo much for your help!

Thanks TEB. Just made 23 pips profit. Decided to get out at major support on eur/usd