Goodmorning and happy Thanksgiving. I just did a 15 pip trade on the GBP/JPY when it broke the “Overshoot-1/8 just below the Daily S3”
Petefader,
I’m not sure what Overshoot and Extreme Overshoot means, please explain
Nice job! I’m just out the door now for Thanksgiving festivities, so I’ll reply when I get back.
Happy Thanksgiving.
which indicator makes the shading? all the indicators are there but theres just no shading for some reason
Petefader,
How would you trade the following: The 14 and 50ema are crossing right at a daily S2 level? The green is the 14 and red is the 50ema.
Hello 
I am following this thread and it’s quite interesting, so I will test it next week. Just wanted to ask, what do you guys call Aisa? Is thats short name of Asian session? :o
Thank you,
Albinas
For this method, all you ned to know is that the Murry Math lines act as support/resistance. I’m sure you can find more info on murry math levels from a google search, but in the interest of noobs, I dont want to get into things in this thread that are not important to the system. They are just simple S/R.
Which reminds me, I wanted to mention that on some days, the murry math s/r levels are dead on and pivots seems useless, BUT other times you will find the opposite, pivots are dead on and MM seems to get ignored. Between the two, I believe you are covered for any condition.
Rule number one, only trade with the slant of the 50 ema. So, if price continued up, and pulled the 50 slant up, you would look for a long according to the rules AFTER a pullback (red shade then back to blue for entry).
OR, if price turned back down you can take the short on the next valid entry signal.
One general rule with S/R lines is not to enter a trade that gives you a loss if the SR isnt broken.
(to the other guy) Yes, when I say Asia, i mean the Asian session.
I was away for the holiday, so I just quickly went to the EU and marked the entries at my normal trading time. 4 wins, no loss.
These trades have pretty much no draw down.
If you risked 2% with a 20 pip stop loss, and 20 pip target, you would have made 8% in one session. 5% risk would have made you 20%.
Did anyone test my system this past week?
Wins were probably in the 90% range if you traded during active times. I only took one loss last week on this method, and about 7 wins.
have u ever though of trading this on the 1m?
i m following this thread, seems good, but cant understand the S/L and T/P levels.
can u help me which one is the best criteria to set these levels?
You can trade it on the 1min, problem is many times the move will be very small, and you have to make up spread.
OK, I was going to wait untill someone noticed, but I guess I will just come out with it now…how deep does the rabbit hole go?? I guess we are taking the blue pill today, lol.
look at the monthly chart through this template…the weekly chart…the 1min chart. Is their really a difference?
My best analogy is…it’s a box, in a box, in a box etc when you go from large to small time frames. A wave, inside a wave, inside a wave, etc.
How is this possible? With so many traders, and so many factors…news, fear greed, economies, shouldn’t the moves be more random or at least erratic?
Welcome to the real world. The [B]key decisions [/B]on price movement [B]will affect the waves[/B], but allways in a some what predictable manner. Ths method catches the [B]most predictable [/B]moves [B]AFTER that KEY decision [/B] is made.
i hate the blue pill 
I gave a general SL and TP in earlier posts. That’s what I use. No 2 trades are exactly the same, so use those guidelines and you can adjust slightly based on support and resistance levels, or previous candle hi/lows.
If you are testing this system out, feel free to post charts showing your trades…win or loose. Just follow the rules.
It can also help bring up things about the system that I may need to carlify, and a visual is always best.
does the osma have to be above 0 at the same time as the red to blue switch? or can it switch from red to blue then maybe a bar or 2 later the osma goes above 0? and vice versa for shorts
Yes, if the osma crosses a bar or two late, that’s fine, enter on the cross of zero. Even the slightest cross is valid entry.
I was going to look for a replacement for osma, as I mentioned, but I just ended up changing the settings to 8,20,6 in the template, and I think I’m fine with it. (make sure yours is set to 8,20,6 if you have an old version).
EDIT: OSMA NO LONGER PART OF THE SYSTEM.
ya its set to 8,20,6
does this work on any othe currency pairs?
Yes, it is based on universal probabilities of trends and retraces, that I’ve discovered. The best way to pick a pair on this is to take the cleanest setup…and the cleanest PA.
Last week (besides holiday) I traded EU, GU everyday execpt one, when it looked sloppy and GJ was clean.
Also, I wouldn’t trade this method with a high spread, or a pair that is acting whippy, so that’s why I suggest EU as your main focus if you are learning it.
Pairs are moving in correlation, so you will often see the same setup at the same time on a few pairs. Limiting myself to EU, GU, GJ gets me in most good moves anyway, because things are always correlating to some extent. In fact the more correlation the better your chances are of a win.
So, if anyone is thinking “oh cool, the more pairs the more pips” …not really. Again things are usually correlated, so you will just be taking essentially the same trade on multiple pairs, when you can just pick the best setup on one, and stay on top of it…manage it with all your attention.
how often do signals occur?