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Simple Simon Balance Line Trading

  • #1,721
  • Jun 30, 2011 2:07am Jun 30, 2011 2:07am
I just took this too
Attached Image (click to enlarge)
Click to Enlarge Name: eu110630.gif Size: 21 KB
  • #1,722
  • Edited 2:30am Jun 30, 2011 2:16am | Edited 2:30am
Quoting Colostarr
Looks like a valid buy signal to me brother. Where is your 50ema?
sorry but I read now
I need 50ema?



P.S.
I read it now..... so do you use ema50(exponential, high) to set a buy stop point? or only in breakout?
  • #1,723
  • Jun 30, 2011 2:31am Jun 30, 2011 2:31am
Quoting Danyjoe
sorry but I read now
I need 50ema?



P.S.
I read it now..... so do you use ema50(exponential, high) to set a buy stop point?
Hi Danyjoe.

The 50 ema is added as this can show a range market. If it is laying flat market is going sideways. Also think of it as support and resistance. For example if price has broken the balance line but close to the 50 ma then wait for it to break. Set you pending order just above or below the ma. The reason is that the 50ma can act as S/R and price may bounce. If you are in a trade and PA is heading towards the 50ma then I look to clear partial profits here as same again price may hit the ma and bounce.

I hope this helps
Happy trading all. Titch
  • #1,724
  • Jun 30, 2011 2:35am Jun 30, 2011 2:35am
Quoting Titch
Hi Danyjoe.

The 50 ema is added as this can show a range market. If it is laying flat market is going sideways. Also think of it as support and resistance. For example if price has broken the balance line but close to the 50 ma then wait for it to break. Set you pending order just above or below the ma. The reason is that the 50ma can act as S/R and price may bounce. If you are in a trade and PA is heading towards the 50ma then I look to clear partial profits here as same again price may hit the ma and bounce.

I hope this helps
yes thank you!
  • #1,725
  • Jun 30, 2011 2:37am Jun 30, 2011 2:37am
Hi all,

Eur/jpy and usd/chf are trying to break the balance line. There is little resistance there and wait for it to break.
  • #1,726
  • Jun 30, 2011 2:48am Jun 30, 2011 2:48am
balance line still acting as support on M15
  • #1,727
  • Jun 30, 2011 2:54am Jun 30, 2011 2:54am
not any more but 50 EMA came to the rescue - let's see if that holds
  • #1,728
  • Jun 30, 2011 2:59am Jun 30, 2011 2:59am
Quoting southbeach
Hi all,

Eur/jpy and usd/chf are trying to break the balance line. There is little resistance there and wait for it to break.

Do you reckon that USDCHF is turning , cos its quite a major trend down on the 1H
Something is definitley happening down there
Attached Image (click to enlarge)
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  • #1,729
  • Jun 30, 2011 3:09am Jun 30, 2011 3:09am
No trading for me today. Because of the teacher strike today I have my 5 year old son at home. Hard to trade when you have a 5 year old running around with a plastic gun shooting you all the time and you have to play dead!
I hope you all have a great day trading.
I am off to play cop's and robbers!
Happy trading all. Titch
  • #1,730
  • Jun 30, 2011 3:11am Jun 30, 2011 3:11am
Quoting Titch
No trading for me today. Because of the teacher strike today I have my 5 year old son at home. Hard to trade when you have a 5 year old running around with a plastic gun shooting you all the time and you have to play dead!
I hope you all have a great day trading.
I am off to play cop's and robbers!
Titch
Teach him to trade
He will be emotionless in his choice of entry and when to move the trailing stop
Should work like a dream

Better than any EA
  • #1,731
  • Jun 30, 2011 3:14am Jun 30, 2011 3:14am
Have a great day, Titch. I canīt imagine a nicer activity for the day than playing aroung with my son.
  • #1,732
  • Jun 30, 2011 3:17am Jun 30, 2011 3:17am
Quoting peterporter


Titch
Teach him to trade
He will be emotionless in his choice of entry and when to move the trailing stop
Should work like a dream

Better than any EA
LOL

That is a great idea! He could then earn his keep!

His career is already mapped out!
Happy trading all. Titch
  • #1,733
  • Jun 30, 2011 3:19am Jun 30, 2011 3:19am
Quoting Thu
Have a great day, Titch. I canīt imagine a nicer activity for the day than playing aroung with my son.
Thanks Thu

I love it, thats why I trade for a living, so I can have time with the family when I want to.

He's just shot me so I am off.

Have a good one all!
Happy trading all. Titch
  • #1,734
  • Jun 30, 2011 3:33am Jun 30, 2011 3:33am
Quoting Titch
Thanks Thu

I love it, thats why I trade for a living, so I can have time with the family when I want to.

He's just shot me so I am off.

Have a good one all!
Take advantage of today, you won't get that many teachers'strike to play dead with your police boy. Enjoy but check on us once in while.
  • #1,735
  • Jun 30, 2011 3:44am Jun 30, 2011 3:44am
Watch out for USD/CHF on H1 in 18 Mins. Could be a Short possibility.
  • #1,736
  • Jun 30, 2011 3:48am Jun 30, 2011 3:48am
It truly is judgemental. For me the closer to the blue line it closes, the more powerful the signal, that and coupled with a good angle to the blue line.

Quoting mountaingoat
Hi Colo,

Thanks for a great thread. Question: What are your general considerations when deciding whether, on the close of a candle, the distance from the blue line is too great. I assume this is largely a judgement call?

Rgds
  • #1,737
  • Jun 30, 2011 3:51am Jun 30, 2011 3:51am
Hello Colostarr

i see a range in EURUSD 15 min and have placed buy stop over the range. because there is an uptrend in 30 M and 1 H. what do you think about it?
Attached Image (click to enlarge)
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  • #1,738
  • Jun 30, 2011 3:57am Jun 30, 2011 3:57am
Hello Colostarr,

Interestingly i observed that the setup candle with a pin bar is giving more success. Please ignore if i am wrong.
  • #1,739
  • Jun 30, 2011 4:18am Jun 30, 2011 4:18am
Absolutley Pin Bars or divergent candles almost always provide a means for entry. If you see an opportunity to enter after a divergent candle - go right on ahead.

But last I checked this isn't called the Simple Simon Pinbar method.

Quoting netwatchpips
Hello Colostarr,

Interestingly i observed that the setup candle with a pin bar is giving more success. Please ignore if i am wrong.
  • #1,740
  • Jun 30, 2011 4:26am Jun 30, 2011 4:26am
GBP/USD and EUR/JPY Triggered
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Click to Enlarge Name: eurjpy.gif Size: 15 KB
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