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Buy sell line trading

  • #2,681
  • Feb 11, 2013 11:48am Feb 11, 2013 11:48am
I'm not surprised at your 5min trades....That's a nice return[/quote]
  • #2,682
  • Feb 11, 2013 11:57am Feb 11, 2013 11:57am
Consolidation has tricked me a few times....it seems like when the 1hr and 5min price both break the 50sma and the daily has at least a colored reversal candle it rocks. So you're entering on the third matching candle if it breaks the 50sma? What's your limit? 4 matching candles? I usually try to keep it to a break of the reversal candle but there's a mess of opportunities I've missed where the second candle closed over the 50sma and there would have been a good entry on the third candle. It seems there's a point where I shouldn't enter....a retrace has a high probability of coming.

Quoting 60minuteman
you are looking for m5 to cross the ma's after a trending period, its a trend reversal trade.

You enter long at the break of the high or the signal bar and stops go the other side of the ma's or at the recent swing low/high..

you should trade them during london and NY,

you should use some higher tf filer... daily trend, S/r level etc etc...i'm sure many ideas would work..

tp is previous key s/r or a close back within the ma's... the idea is to let these run 4/1 r/r at least!
  • #2,683
  • Feb 11, 2013 12:35pm Feb 11, 2013 12:35pm
Here's an interesting one. A little afternoon delight.

Price broke the 50sma on the 5min. The blue line is the 1hr 50 sma listed on the 5min chart. Is there a way you could go in on this without waiting for the close of the candle? Price S/R on the 5min?
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  • #2,684
  • Edited 1:22pm Feb 11, 2013 12:58pm | Edited 1:22pm
Just took 25 off this. I used the resistance of the 5min S/R line and entered after the break.

Again the multimeter (can indicator in upper right and middle sma arrows in lower left all lite up like a christmas tree. (the middle arrows are the break of 50sma for 5min, 1hr, daily)

It seems the usa afternoon can have some good runs....they just keep running up.

P.S That was a learning experience....I got out about 2:1 ....it's still going....4:1 right now. Notice the candles never retrace below the last one....i should have walked my sl on the candles after 2:1.
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  • #2,685
  • Feb 12, 2013 8:08am Feb 12, 2013 8:08am
Seems to me like you get a break of the 50 sma then a small retrace bump of the 50sma....then it goes. The ones that don't break the entry candle go back down. Correct?

Up again today....just got the 2:1 off E/U
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  • #2,686
  • Feb 12, 2013 10:29am Feb 12, 2013 10:29am
Did a little bit of a counter trade here.

The swing up came.....bounced off the 50sma and came back down to make a trend line. Broke the 50sma. Since it was a little risky set the order at the break of resistance. (horizontal line). It ran quick. That little loop to create a higher low swing and the break of 50sma seems very powerful...especially if the loop happens over the 50.

Got 25 pips....just did 1:1 because of it being a counter and the 1hr 50 sma was just above it. It's the dark purple ma line.

I'm up 60 pips or so on 5 trades today on the 5min....one was a full loss....1 broke even.
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  • #2,687
  • Feb 13, 2013 1:52am Feb 13, 2013 1:52am
60 min.....there's more then one......this is the one.....here it is.
Attached File(s)
File Type: mq4 Trix4Kids.mq4   12 KB | 487 downloads
  • #2,688
  • Feb 13, 2013 8:37am Feb 13, 2013 8:37am
Here it is
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  • #2,689
  • Feb 13, 2013 10:01am Feb 13, 2013 10:01am
Incredible or what? 60 min....look at what I talked about. I've got a buy stop in case it runs.
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  • #2,690
  • Feb 13, 2013 11:33am Feb 13, 2013 11:33am
I think E/J may go down to 124.70. I deleted my bull stop....the last fake down didn't get me. We'll see soon.
  • #2,691
  • Feb 13, 2013 12:21pm Feb 13, 2013 12:21pm
Looks like E/J's starting to range....no afternoon delights today!
  • #2,692
  • Feb 14, 2013 1:26am Feb 14, 2013 1:26am
Basic EU trend trade in the direction of the previous days close
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tradewith60
  • #2,693
  • Feb 14, 2013 1:35am Feb 14, 2013 1:35am
Quoting 60minuteman
Basic EU trend trade in the direction of the previous days close
down to resistance, and can up again to eu 1.3460
  • #2,694
  • Feb 14, 2013 1:42am Feb 14, 2013 1:42am
Quoting Fermy17
down to resistance, and can up again to eu 1.3460
yeah got 33639 as a soft TP... weekly is saying it wants to get to the next monthly line down, gonna take some work to get there though
tradewith60
  • #2,695
  • Feb 14, 2013 1:51am Feb 14, 2013 1:51am
EU monthly strike zones...

weekly confirmed move to next monthly line last week by closing below weekly s/r
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tradewith60
  • #2,696
  • Feb 14, 2013 1:52am Feb 14, 2013 1:52am
Quoting 60minuteman
yeah got 33639 as a soft TP... weekly is saying it wants to get to the next monthly line down, gonna take some work to get there though
my buy order now floating. May be i close my order or no ...
  • #2,697
  • Feb 14, 2013 2:22am Feb 14, 2013 2:22am
RN's

Anyone trading the smaller TFs like M1, M5, M15, and even up to M30, should be aware of round numbers (RNs). They are just as important as traditional horizontal support/resistance points, imo. And whereas yesterday's high/low can appear different from one trader's chart to the next due to broker times varying, RNs appear the same on everyone's charts.

As a general rule of thumb, placing s/l or t/p 5p away from an RN is usually good enough to either avoid or take advantage of the reaction that price often makes around an RN, and 6p to be on the conservative side.

The attached chart shows every time price reacted within 5p of an RN. The x.500 levels are just as important as the x.000 levels. Also attached is an RN indicator.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ M5 021413.jpg Size: 76 KB
Attached File(s)
File Type: ex4 Round Numbers.ex4   13 KB | 436 downloads
  • #2,698
  • Feb 14, 2013 5:32am Feb 14, 2013 5:32am
Quoting California
RN's

Anyone trading the smaller TFs like M1, M5, M15, and even up to M30, should be aware of round numbers (RNs). They are just as important as traditional horizontal support/resistance points, imo. And whereas yesterday's high/low can appear different from one trader's chart to the next due to broker times varying, RNs appear the same on everyone's charts.

As a general rule of thumb, placing s/l or t/p 5p away from an RN is usually good enough to either avoid or take advantage of the reaction that price often makes around an RN, and...
California as those mentioned are 25 and 75 as important. IMHO

Indi attached.
Attached File(s)
File Type: mq4 SweetSpots.mq4   4 KB | 419 downloads
File Type: ex4 SweetSpots.ex4   4 KB | 389 downloads
  • #2,699
  • Feb 14, 2013 9:03am Feb 14, 2013 9:03am
Quoting snail69
California as those mentioned are 25 and 75 as important. IMHO.
Snail

I think that is overkill because you end up with too many lines on your chart. I looked at someone's chart the other day, and between daily pivot point, S1, R1, etc. and everything else they had, they had a line every 17p. Hard to trade like that...You become scared of your own shadow. Analysis by paralysis. My opinion only. Each person does what works best for them.
  • #2,700
  • Feb 14, 2013 9:50am Feb 14, 2013 9:50am
Quoting California
RN's

Anyone trading the smaller TFs like M1, M5, M15, and even up to M30, should be aware of round numbers (RNs). They are just as important as traditional horizontal support/resistance points, imo. And whereas yesterday's high/low can appear different from one trader's chart to the next due to broker times varying, RNs appear the same on everyone's charts.

As a general rule of thumb, placing s/l or t/p 5p away from an RN is usually good enough to either avoid or take advantage of the reaction that price often makes around an RN, and...
Hey California,

Your settings on your MACD Indi.3-10-16... And the way it appears.. Very much like a trader named Chic Goslin ( Intelligent Futures Trading ) numbers he used way back when. He use to plot by hand on SMR (paper) charts. At one point he lived in California.

Interesting observation only

TSD
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