Just to see if we’re seeing the same things. GBPUSD is currently in a downtrend (3 bear HA candles) so we’re looking for shorts off the 2 LWMA high. Price just hit the 2 LWMA high at 1.5081 and entered a short there. Everything sound correct?
Yep exactly right. However interestingly marketscope only shows 2 daily short candles/ bars on GBP/USD? My daily high is 1.5143.
Weekly is in temporary uptrend?
Not that I see anything wrong with shorting the £ at these levels for a long term but still…
Ya, that was on MT4, I’ve noticed some differences between HA candles and sometimes prices. Makes it a bit more challenging to match what I’m doing with what you’re doing. I’d use marketscope more often but it doesn’t allow for any account lower than 5k which is more than I will start with realisticly so I’m using MT4.
Why don’t you hold then trades longer since you’re trading in the direction of the daily trend? In some cases coulnd’t you hold a trade for a few days maximizing profit? Or, is it more reliable to take profit and re-enter?
The high/low of the HA candle is different to the actual candle due to the averaging…
I mean between mt4 and marketscope :p.
I have been spending the last few days just pulling 4H charts up with: HA candles, 20:2 std Bolls and the 2-p H/L LWMAs. It can’t be this easy, can it…?
And I think I may have finally given up trading my shorter TFs. These 5m strats are just kicking the crap out of me (51% win rate FTL).
Yes, it can be this easy, just like I can believe it’s not butter. Daily charts, HA candles, 2 LWMAs set to high low. Trade in the direction of the daily and take entries when price hits the LWMAs. Simple :p.
P.S. I’ve had about a 78% win rate with RC’s (or SMs?) 5m and 15m GBPUSD strat though I prefer the daily strat because it allows me to set alerts (and in some cases pending orders) which allows for less chart watching.
That was more RCs but I actually don;t use that much anymore. If I’m going to trade intraday then I just use support and resistance bounce for scalp trades - I prefer that because the actual price is the key regardless of whether a bollinger says it’s overbought or oversold.
However, on the Daily I’ll use a bollinger to confirm my SR analysis.
How often do you take a trade on a single pair? If you were to take all your trades on a single pair how often do they occur, one trade every 2-3 days about? Just wondering because I’m wondering if I could watch fewer pairs and still earn a decent % return. Watching 20 is a little difficult lol. I need more free time :p.
I would guess that I trade each pair on the daily TF for 1-2 days when the set up presents and about that again waiting for the actual set up. So in fact even looking to 20 pairs I perhaps only enter 3- 5 trades a day (24 hours). The others I’ll drop a SL inside the trade after positive and ajust accordingly and wait out either bar colour change as an exit or the other side of LWMA. Actually its quite slow in real time. 
Have even managed to take down a concrete wall today with a jack hammer… result! 
So you quit your day job for the demolition business huh? lol
Ya I remember you saying you retired back in Dec lol. My dad made a deal with me when I was 16. He’ll buy me a car if I made the driveway… Had to jackhammer a curb away, it was pretty fun I must say.
MerchantPrince
I’ve attached a screenshot of my trades in play. Some just taken others I’m about to close out. All taken from the opposing side of 2 LWMA hi/ lo.
GBPJPY was a win, GBPUSD is currently negative:eek:. Hopefully it’ll at least be a BE :p.
Went long on GBPJPY for a win, price never hit the 2 LWMA hi for me lol.
Thats fine I’ll withdraw my gain for the day and buy my own:D. The reason I took the trades was because I noticed that between around 6:30-9:30 GMT when price hits either LWMA it bounces back to the middle around 78% of the time so I’m currently trying that out in demo. I did go short on GBPUSD though, that’s following the trend (and also according to what I’m testing). GBPJPY looks like it has been in a range for near a month now so I’m taking any trade on that aslong as it is within the correct time frame (6:30-9:30).
I think I still deserve some scoobie snacks personally lol.
I’ve also noticed that when price hits either LWMA later in the day (near the close of the daily) price usually continues in the direction which usually results in a loss or a long drawdown. Having those MTF moving averages on the 15m allowed me to see what PA was doing throughout the day and how it reacted to the LWMAs 
Looking at your chart it seems when the LWMAs are angled [I]down[/I] you only take Shorts when the price touches/breaches the top of the channel. When the LWMAs are angled [I]up[/I] you seem to only take Longs off the bottom. And when the LWMAs are [I]level[/I] you can take both Longs and Shorts when price touches either top or bottom?