Jay
been silent as i am brushing up on my R and L and mostly Fib… spending most of my weekend doing that and reviewing some of my notes.
Nice one on the AUDNZD… another forum member said, profit is profit… lets look ahead to next week.
Hi David
thank you kindly and welcome. My view or experience shows me that if we can nail one solid trade we in the money. I guess the lure of looking for trades constantly is what causes some losses and then again with this cross over system it is to get a confirmation somehow.
Adding Jay’s 2 LWMA as another to the 1 and 4 LWMA seems to work for me better… but I need to brush up on my Fib knowledge as this can be the jewel missing in the link.
Looking forward to your contribution. Just hate other posts where there is more negative than positive building remarks. And with different view points, it can become suitable for anyone based on your own preferences.
Jay
lets recap.
>Still the base of ForexPhantom for the 1 and 4 LWMA cross?
>2 and 8 LWMA for confirmation, when they close or crossing that confirms?
My variation is to add 2LWMA to the 1 and 4 and when both crosses I have a signal.
>200 EMA for trend confirmation?
I am looking at trend lines as well as there is some solid price movement that goes opposite to the 200 EMA as well.
>Daily Support and Resistance levels?
>Which period do we use to draw Fib? this is where I am stuck. When you saying last month, do i use monthly charts high low, or daily chart but looking at the previous month’s prices?
>we don’t take the signal if price is near a major support or resistance level?
>when there is a signal in the 50-61.8 Fib range we have a strong signal?
No problem Snipes! Glad to hear you’re reviewing! I very much agree with what you said too that there are to many forums that have negative comments. Lets try to keep this one fully positive!
Still the base of forex phantoms yes.
2 and 8 for confirmation, cross is preferred but if they’re at least touching when the 1 and 4 cross that’s still decent.
200 EMA for trend conformation yes.
Daily support and resistance yes.
The Fib i draw from the swing high to the swing low on the daily chart for a downtrend and swing low to swing high for a uptrend. You can use the monthly highs and lows if you would like, you use the daily chart for that as well. Just right click your chart go to properties and go to the common tab i believe it is. Than chose dont show grid and chose show period separator. The lines that go down the chat vertically are each month. For a downtrend You use the previous months high to the most recent low ( could be that month or this months low if it is lower than last months. And vis versa for a uptrend. Last months low to the most current highest high.
If price is near a major support or resistance area I would not take it because price might not pass that area.
If price is in the 50-61.8 Fib range than yes that is bound to be a stronger signal, as long as that signal is going with the trend.
Something i am experimenting with is bollinger bands, when price breakouts out of the bollinger band and closes above or below, that’s a good signal that price is gonna reverse direction and head towards the middle of the bolligerbands again. Its like extra confirmation, BUT get comfortable with S and R areas and FIB first. Than we can talk about bolligerbands. I might take them out too I’m not sure yet. The worst thing you can do is crowd up your charts, so let me test and see how we do!
Schweet thanks Jay
Makes sense. Will do some analysis and see what i come up with for this week.
Even Gents,
as promised, I’ll give my trade ideas based on this system. I currently monitor only nine major pairs. I use to look at about 20 pairs until I realised that I kept seeing trades when no trades existed.
So it would appear that the addition of the 2 and 8 LWMAs do filter out false signals and looking back at the history of the pairs it seems that it works well.
Looking at the USDCAD, the pair is in an uptrend and has already retraced to the 61.8 level and is now heading up. Both the EMAs in each MACD have crossed and I think that I will place a buy stop order 10 pips above Friday’s close. I am always wary though of setting any trades on a Sunday.
On the eurusd, the 1 and 4 macds have crossed but the 8 and 2 are yet to cross indicating to go short.
On the eurjpy, the 1 and 4 macds have crossed but the 8 and 2 are yet to cross indicating to go short. Probably wouldnt be wise to take this trade as the pair is in an uptrend. Pair will probably retrace back to the 23.6 or the 38,2 levels.
On the eurgbp, there seem to be a cross to the down side on both macd pairs but there’s a bullish bar forming. Seems to be defying the rules here.
Any comments on the above?
David
Hey David,
When I get back home I’m taking a look at my charts and tell ya what i see/if our analysis match! I wouldn’t take any trades on a Sunday, because decisions are still happening from the weekend/it’s the very beginning of the week so the market can be erratic. I’d wait until Monday morning andsee what has happened, and base your decision than.
Happy trading
Jason
Np man. Let’s hope for a profitable week ahead!
USDCAD- Looks solid, in the buy channel of the bollinger band, and above the 200 EMA, MACD have both crosses, broke and closed above 1.3000 major level too. Looks good for a long, but i would have a TP any higher than the most recent high to play it safe.
EURUSD- touched the 61.8 fib on the daily chart, and closed below the 50 FIB for too for a short, Closed outside of the bollinger band for a trend reversal, 2 and 8 are touching with a nice clean 1 and 4 cross, It does appear to be in a long trend, so it is counter trend trade and i don’t like those, but a 2 and 8 cross could lead to a nice short.
EURJPY - Looks like it is going into a uptrend, I don’t take counter trend trades personally, So i’ll leave my opinion out of this one for now.
EURGBP- like ya said looks like a uptrend and kinda rangey too i’d stay away.
GBPUSD- Is in a range I’d shy away from this pair all together for now.
AUDUSD- Is ranging but a break and close below .7300 on the daily chart, with a 1 and 4 and 2 and 8 cross, could be a nice short trade.
USDJPY- with both 1 and 4 and 2 and 8 cross, could be a long trade, coming out of the 61.8/50 fib now and in a uptrend.
That’s what I got for now, but lets see what happens!
Happy trading
Jason :48:
Thanks David, will look at those too.
I have the following running and this is based purely looking at 1,2 crossing 4. Then also plotting Support and Resistance and some Fib which for now I must admit is merely to test my knowledge. I have been plotting it the opposite direction last week 
now i got it better.
14 August 2015
AUDCAD Buy @ 0.96321 (currently +31 pips)
CADCHF sell @ 0.74657 (+12 pips)
17 August 2015
EURAUD sell @ 1.50660 (+13 pips)
EURGBP sell @ 0.71007 (+27 pips)
EURJPY sell @ 138.085 (+22 pips)
Strangely i found my most successful trades on Sunday when it opens…
The double cross seems to give me better confirmation and now it is to refine SL and TP… hoping the Fib and SR will guide me.
Morning all,
my 42 pip TP on the usdcad was hit.
Still waiting for secondary cross confirmation on two other pairs,
Snipes,
based on my charts there was no confirmation cross of the 2/8 emas, but you took those trades? Is it that once they are touching it’s safe to take the trade?
Hi Chiniebwoy
I use the 1 and 2 to cross the 4 and not the 2 to cross the 8. WE can test both and see which works best.
They look good friend!
I got in the USDCAD early this morning. I got about 40 or so pips of profit from it from a long and closed it out.
my next suspect is the USDJPY with it touching the 50% fib, a long on this pair would be nice.
Hey David,
For me when the 2 and 8 touch and the 1 and 4 have crossed, I than enter my trade. But more conservative would be to wait for a 2 and 8 cross.
happy trading
Jason
Made some changes and finger errors
14 August 2015
AUDCAD Buy @ 0.96321 (still running currently +39 pips, locked in 26 pips)
CADCHF sell @ 0.74657 (closed +6 pips)
17 August 2015
EURAUD sell @ 1.50660 (still running at +66 pips, locked in 44 pips)
EURGBP sell @ 0.71007 (still running at -1 pip)
EURJPY sell @ 138.085 (closed with +33 pips)
so 104 pips (closed and locked in values)
and then some running still.
Jay, gonna need your help with the Fib stuff, will do some screenies later and you let me know where I am missing the boat.
AudCad closed for +26 pips
Looking at (200ema cancels them though)
AUD/JPY looks ready for a long enter. Will be short lived
EURCAD show some interest for quick short as well.
EURNZD for some short action as well
EURUSD short
GBPUSD looks like a short setup is forming
NZDCAD for long though there is lots of indecision it seems
Entered only this
EURUSD short @ 1.10748
Price below 200ema
1&2 crossed 4 LWMA
Please let me know if this is correct Jay
FIB if correct at 50 (line from 10 July swing high to 5 August) price bounced off the 1,2200 level -Fib 100.
For the Fib personally I’d do July 10th to July 20th, last months high to last months low, sense the low hasn’t been broken yet you can use it for this month too. It only makes about a 15 pip difference so not that big of a deal haha.
For myself:
USDCAD- LONG up to 1.3200 with the current cross is possible.
EURUSD I agree with you snipes looks like a solid trade.
USDJPY - With a 2 and 8 cross could be good for a long
Happy trading,
Jason
Thanks Jay
So for Fib only use last month’s high and low and not the current month?
[QUOTE=“jayboii478;717150”] For the Fib personally I’d do July 10th to July 20th, last months high to last months low, sense the low hasn’t been broken yet you can use it for this month too. It only makes about a 15 pip difference so not that big of a deal haha. For myself: USDCAD- LONG up to 1.3200 with the current cross is possible. EURUSD I agree with you snipes looks like a solid trade. USDJPY - With a 2 and 8 cross could be good for a long Happy trading, Jason[/QUOTE]
All trades closed total +170 pips 
USDCAD certainly possible but Im staying away trying to get the entries right for our strategy.
Will watch USDJPY closely