Thank you for sharing your strategy.
I have been using a similar strategy and looking at candlesticks for the past few weeks and it worked most of the time.
I also found that cross candle is more effective in a higher timeframe like 30 min, 1hr. Sometimes in a 5 min timeframe, when the trend looks like it’s reversing but it’s actually still continuing.
Just so I know if I’m getting things right, would you have taken these entries? I’m talking about the top right candle, considering it’s closed. On each of them, the EMAs have crossed, the CCI has crossed north, so has the stochastic.
so ive been looking at the charts and whenever i see all the indicators and cross candle going in the right direction it always reverses shortly afterwards … is there something im not doing right ?
on the second chart you can see where i would of entered on the red candle just after the yellow verticle line … all the signals were good but the price just went up …?
alfa156 thanks for the reply … i was also thinkin that mabey for this system to work you have to trade in the direction of the general trend which could be identfied using the 1 hour time frame … im not sure though coz at first i thought this system could be used which ever way the trend is goin as long as all the indi’s match up / cross candle.
mabey maurizio77 could offer some of his expert advice on this issue … thats if he is still around on this forum lol
hes still around but he has postet so much in this thread so all the answers is here in the thread already
if the market has a clear trend on the 1 hour timeframe you go to 5 min tf. to find the right spot for your entry and ofcorse that has to be in the direction of the trend
im not profitabel (hopefully yet) with this system im still learning
Anyway, thanks to Maurizio for the system, Alfa and Dan you’re right, that was indeed against the H1 trend. I should have read deeper the ebook, what stroke me first is the “you can use this any time in a ranging market”, but you’ve got to but into the trend. My mistake. Again, thanks for the constructive answers.
yea ive got the ebook ive read through it a couple of times and tried to apply what is said and it does seem to work sometimes its just a lil hard to know when to enter. for example do you ONLY enter (buy) if the stochs are going up through the green 20 mark and up through the -100 on the cci. what about if the signals are already going up but have already pasupsed the 20 and -100 and the cross ema is going down. do you still buy?
EG. below cci indi is already passed the -100 and nearly half way up shoud i not enter/buy ?
lol this system is more conusing then i thought it was. i think i know when to enter and exit but its just figuring out whether once you entered a trade, if that trade is likley to go up alot in the direction that your trading or quickly go up then back down (e.g. if buying)
has anyone else been succesfull with this system ?