So what’s the consensus on the EUR/AUD - continuing down, or a good time to buy?
Hi,
I’d say long, but wait another 1-2 days at least for confirmation.
Anyone else?
Did this topic die so young? 
Happy trading,
Marius
EURAUD still long I think,
Gu went long at 1.4681 up 164+ so far moved sl to 1.4805
Hi, this is my first post in this thread and I would like to thank ForexPhantom for this great system… CONGRATULATIONS, keep the good work!!
Last week seems like it gave very bad signals but I think, as many already have said, that was the Easter.
What do you people think to use the weekly chart as confirmation?, I mean go long if the weekly chart is also long and go short if the weekly chart is short… and if both are crossing at the same time even better.
For example, right now I am selling short AUDJPY (at 72.66) because it has already crossed in the daily chart and is about to cross at the same direction in the weekly chart.
I would like to hear your opinions… happy trading!!
P.S. I realized that this is actually my first post at all in this forum (babypips). I have read a lot of threads but this is the only one that has capture my full attention… Again… CONGRATULATIONS FOREXPHANTOM!!
Are you using the ADX and/or the RSI indicators? I know you use the MACD window for the EMA crosses but how about these other two as I think they were in the original strategy. Thank you, d.
Hi,
The strategy as Phantom initially described it, only uses the MACD MAs cross.
I am also using:
-RSI(14) which I am going to drop soon, I don’t feel it is useful.
-ADX(14) I am using this to figure the strength of a trend, and also I look at the +DI and -DI lines. Looks like +DI being above -DI is confirmation for an up trend, and -DI being above +DI is confirmation for a down trend. Take a look at the charts and you will see what I mean.
-I recently added Stochastic(14,3,3), and I also look for it being in Overbought or Oversold areas to confirm a possible trade.
-I also started analysing support and resistance, because I feel that all the indicators are useless without it. Chart patterns should help, though I don’t know much about it yet, and also it requires some experience to use effectively.
Happy trading,
Marius
G U nice csoss !!
up trend channel and just testing old res lines.
perfect trade
Hi,
Looks like there is very strong resistance there. I wouldn’t take that yet.
It would be best to wait for a breakout. Just my 2 pips…
Happy trading,
Marius
Thank you for the reply. On Sun. eve or early Mon. I plot S/R & TLs on the D. charts; may do the W. too but haven’t so far. I have thought about Stochs and will follow your suggestion and use them instead of RSI. Thanks again, dobro
Watching the USDCAD for tomorrow, fingers crossed 
Hi
Just placed the following on 13.4
gpbusd buy 1.4886 => 1.4969 83 pips
usdjpy sell 99.15 => 99.11 4 pips
usdcad sell 1.2114 =>1.2081 33 pips
with 100 trailing stop on each
Very simple and effective so far
Thank you forex phantom for sharing… Just out of curiousity, what was your thinking process in creating the system? (why macd and why moving average on macd lines)
Thanks again
Rafael
Hi Rafael,
I am short too on USDJPY and USDCAD.
Didn’t take GBPUSD yet, I am waiting to see a clear breakout from that resistance.
Problem with your approach is the T/S. IMO, 100 pips simply won’t do. It will take you out of good trades. And I personally think that in order to make this strategy work in the long run, you have to take every pip possible from every trade. Because there will be bad trades, and you have to make up for them, and then some. My 2 pips…
Happy trading,
Marius
Hi guys,
I’m curious why you are just taking these trades now? On my charts I show the GBPUSD crossed on the 13th and USDCAD crossed to go short on the 6th and the USDJPY crossed on the 6th also, did you see them all cross later than that? Thanks!
Mike
Hi Marius
Thank you for your comments.
How would you recommend calculating a stop? maybe use some kind of ATR?
And what profit taking rules would you use? (maybe scaling out at predefined price levels?)
Thanks
Rafael
Hi Xtensive
I took all trade on 13.4. You are right i took them after the cross.
Will restrain myself next time
Rafael
Ok that makes more sense, very nice trade!
Why don’t you guys try using FireDave’s Universal Moving Average EA?
Simple moving average systems are so simple that you might as well automate things and take the guessing out of what is a true cross and a false signal. You could also backtest to try to optimize the best stop loss and other variables.
Although a few years old, you can find the free EA here:
Cheers!
Got a question for you, Gu short both by my system and yours . Do you keep a trade like this open over the weekend?
Hi Jado
I’m short on eur/used since 16.4 with 130 pips profit
I’m long on usd/chf since 16.4 with 164 pips profit
These positions are still open (on demo).
Curious to see what happens on monday
Thanks
Rafael
Hi,
I think that positions can be kept open over weekends, because this is a daily system.
Look at the daily charts, and you will see that trends on those charts can sometimes go for 1 or 2 months, so what is the point of closing the trades every 5 days?
Phantom, how is it going? I didn’t see any of your posts for a long time.
Happy trading,
Marius