Last night was my first time trading this strategy. Thanks Big E, I hope you all the best.
At the end of the London session I was up about 140 pips, but instead of closing everything and taking the sweet profit I thought I needed a bit more. Ended up with about 40 pips 4 hours later.
Tonight I will follow Big E's advice, shutdown the 4H trading when the London session shuts down.
Your spirits seem up today BigE...its nice to see. Hopefully you are on the improve.
This question is aimed at BigE or any and all of you experienced guys on the forum. this is a daily chart and I would like to know what you guys/girls think the trend is doing. The last 4 candles seem to be in consolidation but lets say you looked at your four hour chart and you had all the signals for a LONG trade and you switched up to check the daily and saw this. how do you see the trend on the daily here??
Your spirits seem up today BigE...its nice to see. Hopefully you are on the improve.
This question is aimed at BigE or any and all of you experienced guys on the forum. this is a daily chart and I would like to know what you guys/girls think the trend is doing. The last 4 candles seem to be in consolidation but lets say you looked at your four hour chart and you had all the signals for a LONG trade and you switched up to check the daily and saw this. how do you see the trend on the daily here??
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What I see, is an attempt at a bear run, but it keeps hitting a strong support (you can see the support that was resistance during earlier bull runs) and is unable to make a strong move. Therefore, although it looks bearish, it is also consolidating at the same time. Basically, for now, I'd be careful until a strong daily move is made past the support.
Hi Dean, Not to sure. TDI and Stoch is south but the brake of 1600 would be nice to confirm a good bearish run... I also show it at the bottom of the weekly channel.
Thanks for your input Nate and chillli. How many candles do you boys have to see before you consider it an actual trend.....on the DAILY chart?? as in....this consolidation could continue the up trend it has just been in....do you agree?? this is one of the difficult issues I find....determining a true trend. do you consider the trend on a daily to be say a couple of candles in the same direction?? or do you consider the general direction of the entire chat itself?? am I making sense??
I mean looking at the chart itself you would say it is in an uptrend. My point is....when assessing a trade at the chart below and you flick up a chart to check the trend...are you looking at what the last couple of candles are doing trendwise or are you looking at teh entire chart for the overall trend?? Not sure if I have expoaned mysefl properly
Dean, I draw channels the higher the tf the better (if you can) alot of times PA will bounce up and down in that channel, hence trend and counter trend trades.
Reading candles is a art in it self. The biggest thing I look for is if the most recent daily closed above or below the previous one.
Thats what so cool about this system it takes out a lot of guessing !
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Joined Apr 2008
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Status: Where is the Exit?
|392 Posts
No matter what system you use:" If there is no trend, it is almost impossible to profit from the trade." Therefore,I do like the idea of having a Price Channel of 5 MA High and 5MA low to filter out ranging markets.No intention of going off topic but as per the original Synergy rules,those channels will stop the bleeding.
No matter what system you use:" If there is no trend, it is almost impossible to profit from the trade." Therefore,I do like the idea of having a Price Channel of 5 MA High and 5MA low to filter out ranging markets.No intention of going off topic but as per the original Synergy rules,those channels will stop the bleeding.
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Ok so what are the exact setting and what do you look for to determine a trend within these channels?
Ok so what are the exact setting and what do you look for to determine a trend within these channels?
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Dean Marlone,who is the originator of the Synergy method suggests an entry when the HA candles close outside the 5MA bands.It is a way more conservative approach to Big E's system. Some will argue it will enter the trend with a delay. To me that is ok.If I miss the move from the beginning but am more safer, I take it.
Dean Marlone,who is the originator of the Synergy method suggests an entry when the HA candles close outside the 5MA bands.It is a way more conservative approach to Big E's system. Some will argue it will enter the trend with a delay. To me that is ok.If I miss the move from the beginning but am more safer, I take it.
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Would that not be similar to the candles crossing the 5 ema we already have on our charts as part of this system??
Dean Marlone,who is the originator of the Synergy method suggests an entry when the HA candles close outside the 5MA bands.It is a way more conservative approach to Big E's system. Some will argue it will enter the trend with a delay. To me that is ok.If I miss the move from the beginning but am more safer, I take it.
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I also favor the conservative approach. Because with the other one I saw lots of turn backs with losses of 50-100 pips. Especially on gold trade.
But there is the problem of being late. Sometimes whenever it breaks under 5MA it goes too fast.
Dean Marlone,who is the originator of the Synergy method suggests an entry when the HA candles close outside the 5MA bands.It is a way more conservative approach to Big E's system. Some will argue it will enter the trend with a delay. To me that is ok.If I miss the move from the beginning but am more safer, I take it.
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what are the exact settings for the ma's are they ema's....or sma's and what shift etc?? thanks.
Hi Traders,
Let me introduce to you the Excel Currency Indicator v3.0
The highlight of this indicator is that it tells you when a trend is STARTing and (or) when it's coming to an END.
This is indicated by a YELLOW box either in the BUY or SELL column of that currency pair.
So take a look at the chart and with your knowledge of Price movement (1) if it is the start of a trend, eg. you may decide to buy it, if the yellow box is in the BUY column.
or (2) if it is already trending, you are ready to Close the trade.
Concept
As the value of the Major currencys are digitalised (in this case from 0 to 9) we can visualised that when the difference of two currency is small there is no price movenent.
On the opposite end you can see the big price movement.
So by setting a small window (between 3 to 4) where all the price movement have to pass through, we are trying to show that this pair is active.
Installation procedure (for details open the Excel file and read the Installation).
(1) Select a MT4 broker that has all the 28 currency pairs.
(2) Enable DDE Server in the MT4 Platform.
(3) Use Excel 2007 to open the file and enable macros.
Brief History
V1 are those found on the web (having different names) showing 7 currencies with 12 pairs. Probably orgenerated from Tom Yeoman.
V2 rewritten and rearranged by me showing 8 majors with 28 currency pairs, plus color coding.
V3 current version highlighting START and END of a trend.
