i am new in this forum, where i can find the indicators of this strategy?
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Hi Martin,
One of the best indicators to learn an "M & W" Strategy is the EMA5.
You can actually see the M and W shape in the EMA itself.
No one owns EMA's. They have been around forever.
Everyone has there favourite crosses. Some even develope an entire strateegy around the cross of EMA's.
May I suggest you start with the following EMA's on a 15 minute chart.
5,13,50,200,800.
Then you can customise a session Box. I see a lot of people on this forum mark the Asian channel as Sydney and Tokyo.
Because I am in Australia, I mark my boxes a little differently. From the New week market first open is actually MONDAY morning here at 7.00am.
As Sydney opens the week. So I leave the First 3 hours after open blank.
My Box starts at Tokyo Open. Then my Box ends when London Opens.
Then I have a second box that starts on NY Open, and ends when London closes. That makes a little more sense to me.
Then upto the new day is NY, and AFter the New day line is Sydney.
Each to there own. I believe Steve Mauro has a nice setup as well.
I think he was probably refering to the 3 Free Seminar videos. The introduction teasers to the method. They are good and well worth the watch. Steve has them on the net.
Thanks guys! I think we really need someone to come here and "teach" this Method on regular basis, answer newbies questions, and provide support to MT4 indicators/templates. Something like the Trading Systems Forum, or the Commercial Forum. Here, the activities die down when no one post a chart, or there are more questions than answers.
By the time I make pictures to post, it's already at profit or adjusted to breakeven stop, in other words, after-the-fact and selective posting. I'm also not available to call entries "live" like at these Interactive Trading threads, it takes focus away from own trading during prime time London session.
Hopefully someone will come forward to help out. We've seen quite a few good traders in past months, really need them to come back :-)
Thanks guys! I think we really need someone to come here and "teach" this Method on regular basis, answer newbies questions, and provide support to MT4 indicators/templates. Something like the Trading Systems Forum, or the Commercial Forum. Here, the activities die down when no one post a chart, or there are more questions than answers.
By the time I make pictures to post, it's already at profit or adjusted to...
The "timing" might not be ideal ...... this is the end of week and if it hadn't reversed (down) by 10:45-11:30amET Friday it probably could just keep drifting higher, volume dwindling after London close. It would be high odds to try shorting if this was Wednesday or Thursday, what they called "mid-week reversal".
Look back in history and see if Fridays ever gave the key reversal for the week, or do you usually see strong uptrends continue into Fridays and then gap up on Sunday to induce the last bursts of retail buying, stop out the overnight/weekend short sellers, and then reverse down to trap all the late buyers.
Like to hear what others think too. If GU gapped down hard on Sunday, you would score a great trade! Do post your winning chart. Good Luck!
The divergence in indicator can also mean "momentum slowing", not necessarily "reversal". Notice that TDI volatility bands on 15mins are BOTH above 50; oscillators lose accuracy at extremes. TDI on 60mins did not show any signs of divergence, and all the moving averages on your 15mins chart are strongly uptrend with your 34ema 3-wave and 50ema blue line guiding up in direction of 200ema.
I took pictures of GU and GJ on 4hrs with regression channels just to see what happens next week. Will be interesting to study how strong trends reverse ........ do they just reverse that easily or do they keep going until higher timeframes formed recognizable reversal formations. For this method, there are only certain times to try for reversals (e.g. London open, 3:45amET, New York open, 9:45amET, London close, etc) and if you don't see pristine/clear setups you stay aside. Trying to trade into Friday late sessions on thin volume is not the lifestyle we should aim for.
Here's my trade, I am hoping GBP/JPY has finally exhausted all the long orders.
Since we have had 4 days of rise I am thinking this is level 3 mid week reversal, i know most reversal's coming earlier in the week but it's friday so what the hell.
There was 3 pushes to the low in asian session and during the london session. During NY session the MM threw railroad tracks to trick the traders into going long and i think this is a head/n/shoulders pattern.
The TDI on M15 and H1 is showing downward sentiment also.
I'm short 131.55 and it may range all day but i'm keeping it open over weekend to test.
Here's my trade, I am hoping GBP/JPY has finally exhausted all the long orders.
Since we have had 4 days of rise I am thinking this is level 3 mid week reversal, i know most reversal's coming earlier in the week but it's friday so what the hell.
There was 3 pushes to the low in asian session and during the london session. During NY session the MM threw railroad tracks to trick the traders into going long and i think this is a head/n/shoulders pattern.
The TDI on M15 and H1 is showing downward sentiment also.
