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  • #874,461
  • Feb 6, 2014 12:26am Feb 6, 2014 12:26am
Further correction to the EMA 20, then the shorting resumes
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  • #874,462
  • Feb 6, 2014 12:40am Feb 6, 2014 12:40am
Quoting Danny Maina
Further correction to the EMA 20, then the shorting resumes {image}
So 4 trillion dollar market is going to turn around at 20EMA's because it has magical powers?
Guys please get off from this faulty thinking.Its just a mathematical lagging indicator.Price can turn at any point and at any given point it could match with EMA so?
It means nothing absolutely nothing.Lets put it another way market makers who have the money to move price are not looking at moving averages.Their criteria of placing orders is much more fundamentally driven.
We are at cross roads. Market must decide below 1.35 or above it. 1.35 is dead center.Neither up or down.So far market is showing signs of going up.

Regards
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In trading, you have to be defensive and aggressive at the same time
  • #874,463
  • Feb 6, 2014 12:51am Feb 6, 2014 12:51am
Hmmm... 1.3517 is giving a good support. Quick scalp is possible here
  • #874,464
  • Feb 6, 2014 12:55am Feb 6, 2014 12:55am
I remember long time ago, I was trading this system called the Holy Grail, it was by Linda Raschke, the idea was that price would find resistance at the 20ema when ADX was showing not less than 30 (strength).

Did it work all the time? No, but one could get rich with it if proper MM was applied and having the guts to stay with it (that what is all about for me).

ADX shows strength and the 20 ema indicates value in that strength, many are looking to enter into strength to make more than the risk.

Personally I made money with it, but I did disregard it very quickly only to be revaluted back by experience that simplicity is best.

Only my view.
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Wherever you go, there you are.
  • #874,465
  • Feb 6, 2014 1:04am Feb 6, 2014 1:04am
Quoting milam
I remember long time ago, I was trading this system called the Holy Grail, it was by Linda Raschke, the idea was that price would find resistance at the 20ema when ADX was showing not less than 30 (strength). Did it work all the time? No, but one could get rich with it if proper MM was applied and having the guts to stay with it (that what is all about for me). ADX shows strength and the 20 ema indicates value in that strength, many are looking to enter into strength to make more than then risk. Personally I made money with it, but I did disregard...
When you are in a trend any Ma would do 8 10 15 20 34. I use guppy at times but even then I take it with grain of salt.
I read lot of statistics on MA's and all fail as legitimate signal.
MA's cross overs fail basically MA as bases of trade decision is faulty logic.You notice all MA traders use other confluences as "support" for their trade decisions.What starts as MA trading ends up becoming typical price action candle trading.
Personally luckily I am seeing the light.To me understanding harmonics and Elliot Theory is lot more productive.
In trading, you have to be defensive and aggressive at the same time
  • #874,466
  • Feb 6, 2014 1:16am Feb 6, 2014 1:16am
Hi,
Seems like everybody discussing about MA today. For me, MA is just some reference or some lagging indicator. Although it is lagging, but it helps me a lot on my trade. KISS Principles, Keep It Simple Stupid. They are not support to me, but they are telling me one pretty important thing. ONLY BUY if above MA and ONLY SELL if below MA, that's simple rules isn't it?
So EUR/USD to me, it is still just consolidating price between 1.3460-75 - 1.3520-30. BUY or SELL? I don't think it has a direction now, but BUY will be higher possibilities for me as it has very nasty support on 1.3460 back to few years. If it wanted to go bearish, it might need some serious momentum to break this. Couple hours later probably we will have the full direction after Monetary Policy.

Good Luck guys.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #874,467
  • Edited 1:36am Feb 6, 2014 1:22am | Edited 1:36am
Quoting kimisiow83
Hi, Seems like everybody discussing about MA today. For me, MA is just some reference or some lagging indicator. Although it is lagging, but it helps me a lot on my trade. KISS Principles, Keep It Simple Stupid. They are not support to me, but they are telling me one pretty important thing. ONLY BUY if above MA and ONLY SELL if below MA, that's simple rules isn't it? So EUR/USD to me, it is still just consolidating price between 1.3460-75 - 1.3520-30. BUY or SELL? I don't think it has a direction now, but BUY will be higher possibilities for me...
Let me ask you simple question
How would you know which MA is the signal MA
5 10 20 34 50 100 200? 350?
Why would one be better then another.Yes its a mathematical trail of price but why would one be profitable and another not or in your case buy/sell signal.
Look at my chart.Tell me which one is the winner.
regards
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In trading, you have to be defensive and aggressive at the same time
  • #874,468
  • Feb 6, 2014 1:23am Feb 6, 2014 1:23am
Quoting Davit
{quote} So 4 trillion dollar market is going to turn around at 20EMA's because it has magical powers? Guys please get off from this faulty thinking.Its just a mathematical lagging indicator.Price can turn at any point and at any given point it could match with EMA so? It means nothing absolutely nothing.Lets put it another way market makers who have the money to move price are not looking at moving averages.Their criteria of placing orders is much more fundamentally driven. We are at cross roads. Market must decide below 1.35 or above it. 1.35 is...
Very well said Sir. It is up to the big players who have clear picture of the market and all the data and they know if the markets are over bought or over sold right now and see all the buy / sell orders , pending orders , stop losses etc. As you mentioned they can take markets anywhere from any price or any point of time and match MA or charts. All we do is match charts or study charts after markets have moved. These big boys are just waiting and there will be a slaughter and it will be retail trader who will suffer ( most of them ) and it will be few good traders who will make profits ( ones with good study and observation ) of the markets . These market makers move the markets with billions or trillions of dollars, these indicators only tell what have happened in the markets in the past and not what is going to happen.
  • #874,469
  • Feb 6, 2014 1:29am Feb 6, 2014 1:29am
Quoting realfun07
{quote} Very well said Sir. It is up to the big players who have clear picture of the market and all the data and they know if the markets are over bought or over sold right now and see all the buy / sell orders , pending orders , stop losses etc. As you mentioned they can take markets anywhere from any price or any point of time and match MA or charts. All we do is match charts or study charts after markets have moved. These big boys are just waiting and there will be a slaughter and it will be retail trader who will suffer ( most of them ) and...
You got potential my friend.Just keep thinking like a hunter and not a prey.
In trading, you have to be defensive and aggressive at the same time
  • #874,470
  • Feb 6, 2014 1:30am Feb 6, 2014 1:30am
Quoting Davit
{quote} When you are in a trend any Ma would do 8 10 15 20 34. I use guppy at times but even then I take it with grain of salt. I read lot of statistics on MA's and all fail as legitimate signal. MA's cross overs fail basically MA as bases of trade decision is faulty logic.You notice all MA traders use other confluences as "support" for their trade decisions.What starts as MA trading ends up becoming typical price action candle trading. Personally luckily I am seeing the light.
I know what you mean mate and I believe more than anybody that TA is a bit of BS, just like drugs to keep the masses quite.

But I also believe "for myself" that in this sea of uncertainty I need to create my own island where I can protect myself from insanity .

My island are my guides, of course ema's and any kind of indicators including price will not guarantee profit but when draft into my plan they will give me that island.

Keep in mind that when we deal with $100 risk, one can try to second guess but when the game is played up and the risk is around $1000 to $10000, mr ego will come to play and believe me, he will do what ever is possible to make it difficult.

There is not certainty in trading, it is a probability business being able to stick to your plan (island) and staying with it (big balls) when it is not working, using proper MM.

When we take a trade based on our guides we will take our chance keeping me ego at bay……..

I hope you understand what I am trying to say...
Wherever you go, there you are.
  • #874,471
  • Feb 6, 2014 1:33am Feb 6, 2014 1:33am
Targeting 1.3550, 1.3570, 1.3595
See you there... or not
Attached Image
That which does not kill us makes us stronger
  • #874,472
  • Feb 6, 2014 1:38am Feb 6, 2014 1:38am
Quoting milam
I remember long time ago, I was trading this system called the Holy Grail, it was by Linda Raschke, the idea was that price would find resistance at the 20ema when ADX was showing not less than 30 (strength). Did it work all the time? No, but one could get rich with it if proper MM was applied and having the guts to stay with it (that what is all about for me). ADX shows strength and the 20 ema indicates value in that strength, many are looking to enter into strength to make more than the risk. Personally I made money with it, but I did disregard...
Al Brooks uses the 20 EMA in his price action books but he only plays on the 5 min TF (or lower). It's not of high significance but yes on the lower TF's price would touch any low EMA any time you like it. I use it too but only as a gauge of strength of bulls vs bears on the 5min as well as the 200 EMA too (if it is anywhere near the daily open).
  • #874,473
  • Feb 6, 2014 1:39am Feb 6, 2014 1:39am
Quoting Davit
{quote} Let me ask you simple question How would you know which MA is the signal MA 5 10 20 34 50 100 200? 350? Why would one be better then another.Yes its a mathematical trail of price but why would one be profitable and another not. Look at my chart.Tell me which one is the winner. regards {image}
For me, MA is totally useless when the price under consolidation but I don't know everyone believes or not, my chart only have 4 MA, 10 , 20 , 30, 50. It is really useful when it has a clear direction. Those 4 will tell me what is the strength of trend, how far it can retrace or pullback, estimated when it bounces, when to add more profitable position, where to have my SL.

In your chart, you don't need to find out who is the winner and no trader has perfect entry or perfect stop. So what for we need to know which MA suppose to be the actual winner? I don't look for perfect in Forex, but I prefer to look for High Possibilities with Good Money Management. That's my most important Golden Rules as traders. Am I correct?
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #874,474
  • Feb 6, 2014 1:39am Feb 6, 2014 1:39am
Quoting milam
{quote} I know what you mean mate and I believe more than anybody that TA is a bit of BS, just like drugs to keep the masses quite. But I also believe "for myself" that in this sea of uncertainty I need to create my own island where I can protect myself from insanity . My island are my guides, of course ema's and any kind of indicators including price will not guarantee profit but when draft into my plan they will give me that island. Keep in mind that when we deal with $100 risk, one can try to second guess but when the game is played up and...
I understands you Milam
Green pips
In trading, you have to be defensive and aggressive at the same time
  • #874,475
  • Feb 6, 2014 1:43am Feb 6, 2014 1:43am
Quoting kimisiow83
{quote} For me, MA is totally useless when the price under consolidation but I don't know everyone believes or not, my chart only have 4 MA, 10 , 20 , 30, 50. It is really useful when it has a clear direction. Those 4 will tell me what is the strength of trend, how far it can retrace or pullback, estimated when it bounces, when to add more profitable position, where to have my SL. In your chart, you don't need to find out who is the winner and no trader has perfect entry or perfect stop. So what for we need to know which MA suppose to be the actual...
You still did not answer which MA and what TF is the decision to buy or sell.The bias that creates for you.
My basic question remains--how would you decide which particular MA is the trigger gun.
regards
This is educational as well.
In trading, you have to be defensive and aggressive at the same time
  • #874,476
  • Feb 6, 2014 1:49am Feb 6, 2014 1:49am
Quoting sakisf
{quote} Al Brooks uses the 20 EMA in his price action books but he only plays on the 5 min TF (or lower). It's not of high significance but yes on the lower TF's price would touch any low EMA any time you like it. I use it too but only as a gauge of strength of bulls vs bears on the 5min as well as the 200 EMA too (if it is anywhere near the daily open).
There is another guy trading the 35 tick (like the 30 seconds tf) that uses it has a guide when market is in ranging, prices will bounce at the upper line (long BO) of the range to the average several time before the final BO and visually you can see the average pushing gently prices above the upper line. When that happens he considers that BO more of a value then of the other types because he reckons that the shift between the upper line and the averages shows more participation and once the BO occurs the final TP will be reached quickly do to the covering of the shorts when they realise they are wrong.
Wherever you go, there you are.
  • #874,477
  • Feb 6, 2014 1:51am Feb 6, 2014 1:51am
How many traders draw fibs,lines,trends...in the world,and everybody have different view...who"s right?
I dont trust TA,its more in macroeconomics and politics...Merkel said:German industry no harm under 1.34,other europian countries are in deep shit with strong euro,exporters have problems,everybody need weak currency,China even dont wont yuan on the market....
  • #874,478
  • Feb 6, 2014 1:58am Feb 6, 2014 1:58am
Keep it simple, as long as it works for you.
That which does not kill us makes us stronger
  • #874,479
  • Feb 6, 2014 1:58am Feb 6, 2014 1:58am
Quoting Beli
How many traders draw fibs,lines,trends...in the world,and everybody have different view...who"s right? I dont trust TA,its more in macroeconomics and politics...Merkel said:German industry no harm under 1.34,other europian countries are in deep shit with strong euro,exporters have problems,everybody need weak currency,China even dont wont yuan on the market....
To me its combination of both
Larger moves are fundamentally driven such as Cable taking off After Carney's speech about forward guidance supported with lower unemployment figures.
TA value is critical areas of support and resistance that price can either continue or be rejected.
MA in this broader accurate picture is none issue secondary piper.
In trading, you have to be defensive and aggressive at the same time
  • #874,480
  • Feb 6, 2014 2:01am Feb 6, 2014 2:01am
Quoting Davit
{quote} You still did not answer which MA and what TF is the decision to buy or sell.The bias that creates for you. My basic question remains--how would you decide which particular MA is the trigger gun. regards This is educational as well.
I still didn't answer your question? I though I did. Sorry for that. 200 MA to me might good to create basic foundation rules because ONLY BUY above 200 and vice versa.Which MA actually became trigger gun? No one, MA is just guideline to me and none of them will have actual entry and exit.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
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