This isn’t really a strategy per se but it could be. I am just throwing out this an idea. I have only checked this filtering technique only the last two nights… (moderator, if you think I am spamming the thread since I already started 3 separate threads, by all means delete this) Here’s the idea :
To minimize entering a (trade) fakeout crossover
When 5ema crosses the 8sma
Draw a line on the Closing Price to the candle that confirms the crossover (FILTER LINE)
Only Enter a trade when 5ema crossed/breaks the Filter Line
TP at 50 pips
Stop Loss : Don’t know how/yet…
It is far from perfect ofcourse…
Example :
Interesting. I’ll give it on the original Macfibo system and let you know how it goes…
What time frame did you test it on? Thanks.
H1 and H4… it leads to entering a trade a bit too late though which for me counter productive. I am revisiting the use of stochastics and RSI in filtering original Macfibo trades… based on what ive done on filtering 5ema x 8sma crosses on H1… (and also only trade during London session including the overlapping sessions of Asia-London and London-Us)
Yes, I noticed that whilst looking for valid entries on the 4 hour chart. The 1 hour chart seems to be the more feasible to look for a valid entry. Would you suggest using a 1:2 (risk:reward) for this type of entry? TP = 50 and SL=25?
