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"Katana Trading Strategy"

  • #21
  • Dec 14, 2011 4:03am Dec 14, 2011 4:03am
Quoting wallstreet03
:-) How you know if is there a continuation pattern or a tracing ?
Once prices retrace above any of the moving averages, then I'm not looking to enter trades, I'm only looking to enter trades if price is below or above all of the moving averages and all of the moving averages are set up in the correct way.

That is for example 50 ema is above the 100 ema and the 100 ema is above the 200 ema and price is above the 50 ema then long trades will be considered.

Opposite for short trades.

In this way I will be kept out of ranging markets.

If you look at the Stochastic Indicator it can stay above the 50 level for quite some time... in which instance prices are going up... and the Stochastic Indicator can stay below the 50 level for quite some time.. in this case prices are going down...
  • #22
  • Dec 14, 2011 4:07am Dec 14, 2011 4:07am
Quoting Musashi
Once prices retrace above any of the moving averages, then I'm not looking to enter trades, I'm only looking to enter trades if price is below or above all of the moving averages and all of the moving averages are set up in the correct way.

That is for example 50 ema is above the 100 ema and the 100 ema is above the 200 ema and price is above the 50 ema then long trades will be considered.

Opposite for short trades.

In this way I will be kept out of ranging markets.

If you look at the Stochastic Indicator it can stay above the 50 level for...
That is do nothing in this instance...
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  • #23
  • Dec 14, 2011 4:34am Dec 14, 2011 4:34am
Now prices are starting to potentially trend again, at this point I'm starting to look for a retracement, as prices are very close to the moving averages, any sort of retracement at this point will be pushing prices back up above the moving averages, making entries non valid in that case.

As you can see I'm not interested in picking tops or bottoms a such... just looking for potential retracements in a trending scenario.
Attached Image(s) (click to enlarge)
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  • #24
  • Dec 14, 2011 4:55am Dec 14, 2011 4:55am
Highlighted areas on the chart to show how price reacts to price levels.

Which is the reason why these areas are used as Take Profit regions.

Still nothing to indicate a retracement has occured.
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  • #25
  • Dec 14, 2011 5:29am Dec 14, 2011 5:29am
I like introduction to the thread..
The Market pays you to be disciplined
  • #26
  • Dec 14, 2011 5:34am Dec 14, 2011 5:34am
Starting to get some movement now... price in trend mode until something lets me know it's not... looking for sufficient retracements and then some continuation signals.
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  • #27
  • Dec 14, 2011 6:14am Dec 14, 2011 6:14am
Still shaping up for something... nothing yet...
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  • #28
  • Dec 14, 2011 12:27pm Dec 14, 2011 12:27pm
hi musashi
tankyou for sharing this theared
please give me indicator and tempelt
thank you so much
  • #29
  • Dec 14, 2011 12:54pm Dec 14, 2011 12:54pm
This is the pull back signals that I was waiting for, as you can see enough room for price to reach next price levels in the market and take profits.

Some of us have to sleep so unfortunately could not trade this one live.
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  • #30
  • Dec 14, 2011 4:41pm Dec 14, 2011 4:41pm
Nice thread you got here M. I will be keeping on eye on this one aswell as DW's thread.
  • #31
  • Dec 14, 2011 5:11pm Dec 14, 2011 5:11pm
seems good .

these ways of trading need lots of experiences !
back testing is piece a cake but in live forward testing you should be skillful and also very sharp !

any way the idea behind the method looks great .

thx for sharing
  • #32
  • Dec 14, 2011 10:19pm Dec 14, 2011 10:19pm
Certainly time to do nothing right now... need to wait for confirmation of some direction.
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  • #33
  • Dec 14, 2011 11:24pm Dec 14, 2011 11:24pm
Nice strategy Musashi, I see you are an Aussie like me, do you take trades during the Asian session and which pairs do you trade.

Regards

Staghead
  • #34
  • Dec 14, 2011 11:44pm Dec 14, 2011 11:44pm
Quoting Staghead
Nice strategy Musashi, I see you are an Aussie like me, do you take trades during the Asian session and which pairs do you trade.

Regards

Staghead
Price barely moves in asian session, so it's best to avoid it and just wait for the european session to start.

EU has the best spreads so that's what I like to trade.
  • #35
  • Dec 15, 2011 12:07am Dec 15, 2011 12:07am
Observe how price bounces around between the levels in the market.

Congestion levels, and price moving from one level to the next is how the market moves.

Patience is required whilst waiting for the right set up. No need to try to predict which way price will go, just wait for a direction to present itself and then wait for a retracement.
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  • #36
  • Dec 15, 2011 1:17am Dec 15, 2011 1:17am
Just trending sideways for the moment, price being held by the xx00 and xx75 levels at this stage...

Sideways markets can certainly be traded provided you do not hold outside of the range, but I'm not trading ranges.
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  • #37
  • Dec 15, 2011 2:07am Dec 15, 2011 2:07am
Trend filter is not in alignment... no trading at this stage...
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  • #38
  • Dec 15, 2011 2:41am Dec 15, 2011 2:41am
Trend filter has not started yet.

Notice how prices broke out of that asian congestion bound by the xx00 level. The next level in the market that affected price was the xx25 level, at which point price retraced back to the xx00 level and price found support at that point.

This is a tyical price movement.
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  • #39
  • Dec 15, 2011 2:59am Dec 15, 2011 2:59am
Price back to the xx00 levels... no trend in place at the moment, so just observing price action as it bounces around between levels.

Typically if price closes below the xx00 level it more than likely means that the orders waiting to buy at that level have disappeared and price will tend to head to the next level in the market... that is lower to the xx75 level.
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  • #40
  • Dec 15, 2011 3:22am Dec 15, 2011 3:22am
Trending sideways and no trade signals....
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