No, I don’t usually trade Sunday night but it looks to have some quick directional moves every week.
Should the 1h SMA be 240?
60min/5m =12
12x20 = 240
I’m assuming thats how the theory works :o
And yes I know what happens when I assume!
try this. If you want to see the 15m bollinger and the 1h bollinger both on the same 5m chart. Instead of using the 60 and 260 MAs then put up a 60 period bollinger and a 260 period bollinger, then you can see the upper and lower bb bands and centerlines all on the same chart… hopefully that doesn’t get too cluttered to be easy on the eyes
I was thinking 240 also due to the math ?
3/6/9 LWMA line up north on 5m chart. Placed a long at 1.5856. SL 1.5830.
Just done as ou suggested and put the 260 BB up and it lines up perfectly with the 260 SMA. Now I’m really
Well I guess thats an ass made out of me
Robert - I’m literally bowing to your superior knowledge. I should know better than to query the master :o
I agree with your math earlier I don’t know why 260 on the 5m would match a 20 sma on the 1h, it should be 240 on the 5m but if it works, it works, I think it’s splitting hairs anyway, looking at my chart it is kind of cluttered, might be better with just the MAs rather than the full blown bollingers. take a look and see what you think?
Robert, I took your buy just now, but looking at the 1h I’m wondering if that’s just a minor retrace beginning?
one thing to look at on the 1h EA that we were thinking about. take a look at it with a 7Lwma and a 30Lwma, what do you think?
[B]TALOND[/B]
Well my stop is not far fom BE now 4 more pips so well see what develops?
BE + 3 now so cant loose this one.
Robert
3 LWMA now going south and in between the 6 aand 9 LWMAs (at time of writing!)
Would you enter a short if the 3 LWMA crossed the 9 LWMA but the 6LWMA was still above the 9 LWMA or would you wait until the all the LWMAs were in proper order first ie 3 below 6 which in turn is below the 9?
[B]RED EAR[/B]
TalonD is right… it was a counter trend trade. But were into silly bugger country now. We have a very big wick on the 1h chart outside the lower boll. This would suggest over sold. But 5m, 15m and 1h center bolls are pointing south. I would therefore wait for a 3/6/9 LWMA line up either way.
Just so I get things clear in my head, when you say ‘line up’ do you mean all three are heading in the same direction or when all three LWMAs are in their ‘proper order’?
[B]RED EAR[/B]
When all ma’s point in the same direction. Always best to trade the three ma’s in the direction of the 5m and 15m center line boll. But at some point 5m will croos 15m signalling a medium term reversal and if 15m crosses 1h then look for a longer term reversal of trend.
Yes its all looking rather cluttered with all those BBs aand MAs.
Just reading back and thinking about it, of course the 260 BB will match the 260 SMA because the centre line on the 260 BB is the 260 SMA!
So harking back to my original query, should it be 240 SMA rather 260 SMA?
[B]RED EAR[/B]
Well I’m sticking with 260 SMA. Interestingly this one is so slow being the 1h center line boll. That it doesn’t really matter on the 5m chart other than if the 15m center line boll crosses it.
Were really trading 3/6/9 LWMA with a view to placing trades at the outer edges of the 5m or 15m bolls. With guidance from the 5m, 15m and 1h center line boll for overall direction.
I have not been trading Sundays either.
I usually take a look as it just to see if it will show some direction.
I spent to much time studying the charts this week-end and couldn’t see ant thing but a freight train headed south.
So I took my dog for a long walk instead of opening my charts.
When we got home and seen all my charts screaming go South dumbbell.
So although late I entered at 1.5853 with tp at 1.5807 3 pips shout of 1.5800 just in case it held short. For a 46 pip profit, to bad IBFX had to widen spread to 7 pips, not the first time they did that to me.
That will make up for not being able trade tomorrow. I have to drive 100 mile each way to Detroit for a doctors appointment.
But I am almost half way to my weekly goal.
I have not been trading Sundays either.
I usually take a look as it just to see if it will show some direction.
I spent to much time studying the charts this week-end and couldn’t see ant thing but a freight train headed south.
So I took my dog for a long walk instead of opening my charts.
When we got home and seen all my charts screaming go South dumbbell.
So although late I entered at 1.5853 with tp at 1.5807 3 pips shout of 1.5800 just in case it held short. For a 46 pip profit, to bad IBFX had to widen spread to 7 pips, not the first time they did that to me.
That will make up for not being able trade tomorrow. I have to drive 100 mile each way to Detroit for a doctors appointment.
But I am almost half way to my weekly goal.
5m center line bollinger crossed 15m center line bollinger at 06:15 GMT. All trades should be placed long on line up of LWMA up and until leveling off of 5m/ 15m center line boll or cross over back down. Unless risking a counter trade.
Could we have traded that counter wick candle at 9am on the 15min chart? I didn’t take this as the MAs were still pointing North but it doesn’t seem like often the MAs are flattening when a possible bounce trade arises.
[B]SanMiguel[/B]
Certainly fitted the criteria of PA stepping outside the upper boll band wicking and subsequent candle colour change then enter a short counter trend trade.
But far less risky to be in the long trades when LWMA line up now 5m has crossed 15m and use the above indication of overbought to exit an already profitable trade. Let PA fall back and re-enter when the LWMA’s next line up for the next long.
Exited when?
When the PA reached the 85SMA on the 15min chart, which is the centre line of the 1hr chart?