SMA 5 Day Trade Project | Forex Factory

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SMA 5 Day Trade Project

  • #1
  • First Post: Sep 17, 2016 3:08am Sep 17, 2016 3:08am
Created this journal to test if such simple strategy does work with live account.

Credits to Bk8 for sharing this strategy.

http://www.forexfactory.com/showthread.php?t=600112

Will improvise with S&R and some candlestick patterns. Key is to make it as simple as possible.
  • #2
  • Sep 17, 2016 4:39am Sep 17, 2016 4:39am
AUDCHF - Long

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GTG
Rejecting past resistance at 0.7250.
Strong bullish candle cut through SMA.
Engulfing Bar

NTG
Strong bearish candle previously.
Good reversal on previous top.
Choppy in Chart
  • #3
  • Sep 17, 2016 6:19am Sep 17, 2016 6:19am
AUDNZD - Avoid though there's long signal- For case study

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GTG-
Moderate bullish candle passed SMA

NTG-
Not convincing length of bullish over SMA
No clear SR for reversal
Main trend bearish
  • #4
  • Sep 17, 2016 6:28am Sep 17, 2016 6:28am
CADCHF - Long

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GTG-
Bullish candle passed SMA
Rejection from last month's low
Rejection from 0.7350

NTG-
Potential resistance from 8/22 low
Bearish candle 14/9 still longest candle before reversal
  • #5
  • Sep 17, 2016 6:57am Sep 17, 2016 6:57am
EURUSD - Short

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GTG:
Very bearish candle larger than past 7 candles
Master candle breakout formed
Rejection from consolidated zone 1.125
Breakout of wedges

NTG
No significant reversal zone
Choppyness
  • #6
  • Sep 17, 2016 7:12am Sep 17, 2016 7:12am
GBPCAD - Short

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GTG:
Longest Candle for past >30 days
Very Bearish candle that cut through SMA
Strong rejection from BRN 1.75
Strong rejection from past resistance

NTG:
Near month low
Near consolidation zone
  • #7
  • Sep 19, 2016 6:57am Sep 19, 2016 6:57am
AUDJPY

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GTG
Reversal from i) 76.00 ii) Last month low
Bullish Engulfing Candle that cross over SMA
Inside bar breakout

NTG
Choppy
Still within WRB
  • #8
  • Sep 23, 2016 10:10am Sep 23, 2016 10:10am
Quoting Javforex
AUDCHF - Long {image} GTG Rejecting past resistance at 0.7250. Strong bullish candle cut through SMA. Engulfing Bar NTG Strong bearish candle previously. Good reversal on previous top. Choppy in Chart
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Good trend. Close due to BOJ and FOMC announcement.
Staying would be better
  • #9
  • Sep 23, 2016 10:12am Sep 23, 2016 10:12am
Quoting Javforex
AUDNZD - Avoid though there's long signal- For case study {image} GTG- Moderate bullish candle passed SMA NTG- Not convincing length of bullish over SMA No clear SR for reversal Main trend bearish
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Pity did not take trade as against main trend. >200pips. Also fear of big news.
  • #10
  • Sep 23, 2016 10:14am Sep 23, 2016 10:14am
Quoting Javforex
CADCHF - Long {image} GTG- Bullish candle passed SMA Rejection from last month's low Rejection from 0.7350 NTG- Potential resistance from 8/22 low Bearish candle 14/9 still longest candle before reversal
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A trade exited before big news. Side ways before hitting supposedly SL.
  • #11
  • Sep 23, 2016 10:16am Sep 23, 2016 10:16am
Quoting Javforex
EURUSD - Short {image} GTG: Very bearish candle larger than past 7 candles Master candle breakout formed Rejection from consolidated zone 1.125 Breakout of wedges NTG No significant reversal zone Choppyness
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Avoided loss due to big news. Avoid sideways in the future.
  • #12
  • Sep 23, 2016 10:18am Sep 23, 2016 10:18am
Quoting Javforex
GBPCAD - Short {image} GTG: Longest Candle for past >30 days Very Bearish candle that cut through SMA Strong rejection from BRN 1.75 Strong rejection from past resistance NTG: Near month low Near consolidation zone
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High return. High RR. Closed due to news.
  • #13
  • Sep 23, 2016 10:22am Sep 23, 2016 10:22am
Quoting Javforex
AUDJPY {image} GTG Reversal from i) 76.00 ii) Last month low Bullish Engulfing Candle that cross over SMA Inside bar breakout NTG Choppy Still within WRB
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Taking Trade due to:
1) Bullish candle bar
2) seems to hold well at Support

Risks:
1) Sideways for past week
2) Bought on inside bar
  • #14
  • Sep 23, 2016 7:08pm Sep 23, 2016 7:08pm
GBP/NZD

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GTG
Rejection from BRN 1.77
Reject from past 2 month's low
Long bullish crossover SMA
Engulfing Candle

NTG
Against Main trend
  • #15
  • Last Post: Sep 25, 2016 5:48am Sep 25, 2016 5:48am
EURCAD

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GTG
Very bullish bar breaking 3 bearish bar
Rejection from upper wedge
Rejection from 1.46
Largest candle for >10 candles

NTG
No significant OHLC resistance
Choppy and wavy
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