Both hit their mark for 6+6 pips.
...then rededed back across their respective suppot and resistance lines.
...then rededed back across their respective suppot and resistance lines.
bobby,
thank you completing your explanations. Was uncertain about S&R, because using here horizontal lines for different TFs and vertical for session-markers.
Ref.
'Regarding price movements during sessions, during different sessions different time zones within a session come and go creating different volumes of traffic.'
you're right, nonetheless London imo has range and price action enough to trade it well. Still London is leader of fx volume, while the Asian share increased (Financial Times 09/2016).
Have a look at EUR/USD price action chart below (olive = Asian, blue = London, maroon = NY). Often red news during US session have more impact than some of UK session. But always ... trade what fits you best
Since the good old days of GMS markets changed. Today we see more shallow moves than in 2012 and following years. To answer this your 6 pip-'thing' really is an interesting one. With TF M5 often together using with the original MA5 a MA10 (dotted yellow MA) as SL-level - if candle closes below/above, I close the trade. Visible distance entering the trade is around 5-xx PIPs. If more than 10-12 - no trade.
good luck
josch
thank you completing your explanations. Was uncertain about S&R, because using here horizontal lines for different TFs and vertical for session-markers.
Ref.
'Regarding price movements during sessions, during different sessions different time zones within a session come and go creating different volumes of traffic.'
you're right, nonetheless London imo has range and price action enough to trade it well. Still London is leader of fx volume, while the Asian share increased (Financial Times 09/2016).
Have a look at EUR/USD price action chart below (olive = Asian, blue = London, maroon = NY). Often red news during US session have more impact than some of UK session. But always ... trade what fits you best
Since the good old days of GMS markets changed. Today we see more shallow moves than in 2012 and following years. To answer this your 6 pip-'thing' really is an interesting one. With TF M5 often together using with the original MA5 a MA10 (dotted yellow MA) as SL-level - if candle closes below/above, I close the trade. Visible distance entering the trade is around 5-xx PIPs. If more than 10-12 - no trade.
good luck
josch
trading is war - life is simple
- #885
- Apr 12, 2017 2:09pm Apr 12, 2017 2:09pm
- Joined Oct 2010 | Status: Trader | 1,536 Posts
For GMTS users, here's something I am having a look at. Just started using it today, so please don't ask me if it's profitable, how long I've been using it, etc. I don't know yet. There is a TE set up on my profile. It is set for beginning April 12, 2017. I am looking at several time frames and entry rules so the beginning will probably be a little erratic till I get everything ironed out. The only big difference is the way I read the Genesis signals.
For now, All original GMTS rules apply, except that I have extrapolated the GMTS tape onto the same sub-window over Genesis Matrix 2.22. You can't see the matrix, but the alerts are on. GMTS tape has the Mode_Show3Bars setting as "true" (original=false). My setting on the Auto SL and TS EA is a SL of 20 pips. For now no profit target or trailing stop for me. The whole shabang is below in a zip file.Play around with it on a demo and see what you like.
I will enter on the close of the FIRST signal IF BOTH stochastics agree, AND PA is not too close to an area of support or resistance, Heiken Ashi color agrees, AND price has closed above/below EMA 5, AND it is in the same direction of the nearest (above)Support and (below)Resistance line, AND it is no more than 3 bars into the tape of the move, AND it is not after a big spike (I'll wait for a possible pullback), then I will enter.
Sound like a lot? If you've watched the markets and charts long enough you can spot all of this in less time than it takes to blink. Practice, practice, practice.
I am not using SweetSpots for PTs on this. FXI Pivots and S/R Levels are potential Profit Targets, but I will consider an early exit on the following, whichever occurs first:
GMTS tape bar has turned black or the opposite color of direction.
SupportResistance indicator begins to draw a S/R line or a scissors.
MTF Stochstic has started to turn and an opposite color Heiken Ashi appears and closes above/below EMA 5.
Both stochastics change direction at the same time.
ACS Trend arrows appear with an opposite color Heiken Ashi.
I'm seeing unhealthy HA candles and/or I just don't like the way price is moving and feel uncomfortable about staying in the position.
If you like, download it, play around with it on a demo or a micro account. Make your own rules as benefits you. Have some fun with it. Add, subtract, use it as is, change the charts appearance, whatever you like. Don't be asking me, "Can I do this or that? I'm experimenting with it. You can do the same.
Good luck and Green Pips to all!!!
For now, All original GMTS rules apply, except that I have extrapolated the GMTS tape onto the same sub-window over Genesis Matrix 2.22. You can't see the matrix, but the alerts are on. GMTS tape has the Mode_Show3Bars setting as "true" (original=false). My setting on the Auto SL and TS EA is a SL of 20 pips. For now no profit target or trailing stop for me. The whole shabang is below in a zip file.Play around with it on a demo and see what you like.
I will enter on the close of the FIRST signal IF BOTH stochastics agree, AND PA is not too close to an area of support or resistance, Heiken Ashi color agrees, AND price has closed above/below EMA 5, AND it is in the same direction of the nearest (above)Support and (below)Resistance line, AND it is no more than 3 bars into the tape of the move, AND it is not after a big spike (I'll wait for a possible pullback), then I will enter.
Sound like a lot? If you've watched the markets and charts long enough you can spot all of this in less time than it takes to blink. Practice, practice, practice.
I am not using SweetSpots for PTs on this. FXI Pivots and S/R Levels are potential Profit Targets, but I will consider an early exit on the following, whichever occurs first:
GMTS tape bar has turned black or the opposite color of direction.
SupportResistance indicator begins to draw a S/R line or a scissors.
MTF Stochstic has started to turn and an opposite color Heiken Ashi appears and closes above/below EMA 5.
Both stochastics change direction at the same time.
ACS Trend arrows appear with an opposite color Heiken Ashi.
I'm seeing unhealthy HA candles and/or I just don't like the way price is moving and feel uncomfortable about staying in the position.
If you like, download it, play around with it on a demo or a micro account. Make your own rules as benefits you. Have some fun with it. Add, subtract, use it as is, change the charts appearance, whatever you like. Don't be asking me, "Can I do this or that? I'm experimenting with it. You can do the same.
Good luck and Green Pips to all!!!
- #889
- Edited 7:39am Apr 14, 2017 7:27am | Edited 7:39am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
Happy Easter to GMS traders ... and the others too of coursejosch
- #891
- Apr 19, 2017 3:46am Apr 19, 2017 3:46am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
Hi Everyone. I had actually forgot about this system for a while but meant to give it a try. I remembered the other day and have been studying. I have marked out some trades that would have happened today and would appreciate some feedback to make sure I got this all right. I am sticking to the original GMTS and trade from NY open. {image} {image} {image} {image} {image}
Good morning,
another GMS trade USD/JPY 
- better entry would have been at 1:05 EST (still at breakfast)
- oversaw M30 bearish divergence at entry, remaining until exit
- target was weekly R61 112.31 / daily R2 112.37
- cover because 45 min trying to move to higher high, but resistance at HOD
- Japan holiday today
- now it's trying to go north again, but out!
josch
another GMS trade USD/JPY
- better entry would have been at 1:05 EST (still at breakfast)
- oversaw M30 bearish divergence at entry, remaining until exit
- target was weekly R61 112.31 / daily R2 112.37
- cover because 45 min trying to move to higher high, but resistance at HOD
- Japan holiday today
- now it's trying to go north again, but out!
josch
trading is war - life is simple
- #896
- May 9, 2017 7:22am May 9, 2017 7:22am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
Hi, anyone using the GMS indicators with MT5? Checked if all were compiled without errors / are running without problems or ...? Thank you josch
