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EU Intraday System

  • #21
  • Jul 28, 2011 5:59am Jul 28, 2011 5:59am
Quoting dsugums
I did mention need to watch out this crosses. The 4SMA decided to cross back these lines instead and new reversal trade taken. If the 133 and 222 crossed, I will taken additional lots at pullback.
OK, it is getting clearer. Thanks again.
  • #22
  • Jul 28, 2011 1:05pm Jul 28, 2011 1:05pm
Why the 4 SMA is there?

Seems way too short to me to of any use, just follows price so close; just use the candles to tell you where you are?
It takes a lot for me to IGNORE you, but you can try.
  • #23
  • Jul 28, 2011 2:01pm Jul 28, 2011 2:01pm
Quoting Erebus
Why the 4 SMA is there?

Seems way too short to me to of any use, just follows price so close; just use the candles to tell you where you are?
You got a point there, but I think it is a matter of preference. Some peoples prefer to monitor lines than candles, so if you prefer to follow the candles, go ahead, like you said, it is so close, the 4 sma take out only a liittle bit of false signal/noise. Make it confortable for you!
  • #24
  • Jul 28, 2011 6:47pm Jul 28, 2011 6:47pm
Quoting ttaro27
You got a point there, but I think it is a matter of preference. Some peoples prefer to monitor lines than candles, so if you prefer to follow the candles, go ahead, like you said, it is so close, the 4 sma take out only a liittle bit of false signal/noise. Make it confortable for you!
4SMA is treated as a scout relative to the current price. You can see the price penetrates the SMA but, this 4SMA reverses. It is just a filter.

I will get the chart for thursday up soon for analysis. I don't trade on Fridays and especially today is last day of the month and debt celing voting. Market will be very thin and spikes both ways will kill anyone
  • #25
  • Jul 28, 2011 7:28pm Jul 28, 2011 7:28pm
Quoting dsugums
At the beginning of the Asian trading
Start of Asian session at 8pm est? 30 minutes ago?
  • #26
  • Jul 29, 2011 1:15am Jul 29, 2011 1:15am
Quoting BJ1
Start of Asian session at 8pm est? 30 minutes ago?
I wil get everything clear soon. Just bear with me, quite busy with personal matters.


On different note, you can see today the 4SMA crossing the 133/222 up and down. Each cross makes about 30pips :0

I try to catch the bigger pips @100pips
  • #27
  • Jul 29, 2011 1:19am Jul 29, 2011 1:19am
By the way, if I were trading today, I will try for long after 0700GMT. The longer term SMAs are still in bull mode
  • #28
  • Jul 29, 2011 1:37am Jul 29, 2011 1:37am
Quoting dsugums
I wil get everything clear soon. Just bear with me, quite busy with personal matters.


On different note, you can see today the 4SMA crossing the 133/222 up and down. Each cross makes about 30pips :0

I try to catch the bigger pips @100pips
dsugums,

Are you refering to these two penetrations? If I am correct, you enter upon penetration or after close of candles?
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  • #29
  • Jul 29, 2011 4:57am Jul 29, 2011 4:57am
...watching closely now to see if there's an opp to rejoin the longer term down trend.
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  • #30
  • Jul 29, 2011 5:47am Jul 29, 2011 5:47am
...now short on an alternative 123 break - also notice how the MAs are in synch pointing down.
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  • #31
  • Jul 29, 2011 6:02am Jul 29, 2011 6:02am
Excellent call Sidefx


Quoting sidefx
...now short on an alternative 123 break - also notice how the MAs are in synch pointing down.
  • #32
  • Jul 29, 2011 6:15am Jul 29, 2011 6:15am
Quoting sidefx
...now short on an alternative 123 break - also notice how the MAs are in synch pointing down.
Great observation. the cross nullify the daily bullish signal. It will be down day until the range is achieved. Monday will be back to new trend
  • #33
  • Jul 29, 2011 7:35am Jul 29, 2011 7:35am
..although i was able to scale out on the momentum short earlier, there's enough reason for me to have stops on the remainder at breakeven now...given it's a friday and the US data was soft.

edit: ...yep, stopped on the remaining 20% but my money's made for the day.
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  • #34
  • Jul 29, 2011 7:51am Jul 29, 2011 7:51am
Quoting dsugums
Great observation. the cross nullify the daily bullish signal. It will be down day until the range is achieved. Monday will be back to new trend
...the data acting as the catalyst, as always Nice one, dsugums.
  • #35
  • Jul 29, 2011 8:44am Jul 29, 2011 8:44am
sidefx
Which data are you refering to for the short move you have pointed the setup to us ?
  • #36
  • Jul 29, 2011 8:48am Jul 29, 2011 8:48am
Quoting ttaro27
sidefx
Which data are you refering to for the short move you have pointed the setup to us ?
The soft US GDP figure released gave EUR the boost upwards. I wasn't refering to data around the short setup i posted. Sorry for any confusion.
  • #37
  • Aug 1, 2011 5:15pm Aug 1, 2011 5:15pm
Whpping 200pips drop after 4SMA crosses both 133 and 222SMA
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  • #38
  • Aug 1, 2011 10:21pm Aug 1, 2011 10:21pm
Before the signal short happened, what would you do between 6:00 GMT and the signal ? My guess would be that we should sit tight on our hands, right ?

If we do have to sit on our hands without signal, does it happen very often ? I mean, does it happen that there is no signal for the day ?
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  • #39
  • Aug 1, 2011 10:29pm Aug 1, 2011 10:29pm
the idea of the system is to wait for the intraday trend to develop. Sometimes it comes during asian session, euro and usa. But most of the time, it will be Euro and USA just continuation.

last 2 weeks been erratic due to uncertainties. Each time the 4SMA crosses 133 and 222, it will move at least 30pips. If trend develops, it will go further for about 100pips, otherwise, it will reverse and we attempt again the other way. each way we can get 30pips anyhow.

key to the system is to be patient. wait for the 4SMA to cross over, not the price. Then set for 30pips for first target, and then 100pips.move to break even once reaching about 20pips.

best results when 4SMA crosses 133/222 when they are almost flat line and close together.
  • #40
  • Aug 1, 2011 10:32pm Aug 1, 2011 10:32pm
Quoting ttaro27
Before the signal short happened, what would you do between 6:00 GMT and the signal ? My guess would be that we should sit tight on our hands, right ?

If we do have to sit on our hands without signal, does it happen very often ?
Normally the crossover happen once a day, either for new trend or retracement. Its more like swing trading using this system. We trade both ways for intraday movements.

Just remember to reverse the trade when the crossover happens again.
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