Gaps are usually do to banks making decisions or deals over the weekend, then on Sunday the market reacts to it. Not 100% of the causes but it is a major one. I was always told NEVER hold trades over the weekend, have all positions closed on friday, usually by 12pm EST. That’s when 90% of the traders are off the market and it gets slow and spreads go up. So far im eyeing the USDCAD for long and nzdusd and audusd for shorts. Possibly EURCAD for a short, but I’m not sure exactly how the Eur is doing at the moment.
[QUOTE=“jayboii478;733523”]Gaps are usually do to banks making decisions or deals over the weekend, then on Sunday the market reacts to it. Not 100% of the causes but it is a major one. I was always told NEVER hold trades over the weekend, have all positions closed on friday, usually by 12pm EST. That’s when 90% of the traders are off the market and it gets slow and spreads go up. So far im eyeing the USDCAD for long and nzdusd and audusd for shorts. Possibly EURCAD for a short, but I’m not sure exactly how the Eur is doing at the moment.[/QUOTE]
Thanks Jay. Will watch for today.
Didn’t look at any. I saw a thread somewhere about trading gaps but never took note of it.
Gaps can be very tricky to trade, I usually stay away and just continue with my normal plan for the most part.
Ok everyone, so I think its time I get back into this forum for real. I have been busy past few weeks with my family and with moving, but now time to get back to forex. So what I’ve found to work best is the 1 and 4 crossover with fundamental analysis and trend. I look for a trend and look for a 1 and 4 cross over going with the direction of that trend, with fundamentals agreeing with that trade for that pair. Seems to work nicely for me. So I would recommend everyone give a try, its KISS ( keep it simple stupid ) as they mention here on the babypips website, KISS is very important. Fundamentals I look at come from here at the user blogs and forexfactory.com from the red flag news articles. They give off great info for currency economies.
You always want to match a strong currency to a weak one, that will deliver the best results for obvious reasons, the strong currency is in control over the weak one which will help determine the future direction of that currency pair.
Once you determine that, you can look at currency pairs and look for a trend, once you determine the trend, match it up with the fundamentals if both are agreeing,
then move to the crossover, once you get a crossover agreeing with both the trend and fundamentals you have a nice strong trade. But be aware of Support and resistance levels, in technical trading I would say that is one of the most important parts. Look on the daily and weekly charts, for MAJOR support and resistance levels and mark them on your chart.
when price gets right up or down near those levels, then price breaks out past those levels with a nice strong candle, then look to enter trades. But while price is near those levels you want to kind of stay away because it can be tricky, same with the 200 EMA, that will ALWAYS be a strong support and resistance level, you want to wait for price to either be rejected at that level, or breakout past that level before entering trades. The 200 EMA when price goes near it, always mean it will either be rejected or breakout past the 200 EMA. The 200 EMA is one of the most common used MA’s in forex. So if 75% of traders are looking at that 200 EMA, then there is a good chance there will be some reaction at that level.
I’m more than happy to help anyone with any questions, or concerns, if anyone wants to add to this, or give their experience or results please feel free. 
Working together I really feel we can make that great system, leading us all to a great future.
Thank you
Jason :64::41:
If you can post a myfxbook account to see results so far would be great.
[QUOTE=“jayboii478;733680”]Gaps can be very tricky to trade, I usually stay away and just continue with my normal plan for the most part.[/QUOTE]
Yep i stay away too
Only a few weeks in so far with what I’ve been newly testing. Once I get a couple months I will post up the FXbook, I feel at a few weeks it wont be worth much notice. But after a couple months that is consistency. Also I’ve never posted a myfxbook, do I need a account with them, I use oanda at the moment, I don’t know if that makes any difference?
Hi Jay,
Hope all is well for you. Been experimenting with S/R trading but to no avail. Back to trading this system while I continue to study more price action trading. Anyway, which currency pairs do you think works best with this crossover strategy? I believe that some currency pairs wouldn’t work as well here. And with regards to S/L , are u still using the standard 100 pip stop and trailing it once price reaches a certain level?
Regards,
Kelvin
Gbp pairs and euro pairs typically trend best in my eyes. Usually yes to the 100 pip stop. Make sure there is a nice clear trend and the crossover is clean for best results. Also foto i messaged you back did you receive it? My profile just doesn’t show it.
As of late not much trading because of all the major news and craziness. Hard to get a strong feel right now.
[QUOTE=“jayboii478;734964”]As of late not much trading because of all the major news and craziness. Hard to get a strong feel right now.[/QUOTE]
Hi Jay
Same here… Testing different ideas on demo instead. Have something that might help with the stop loss here but still work in progress.
Can you please show how you identify major support and resistance areas? Are they for example areas that have served as as support or resistance 1, 2, 3, or more times in the past?
Hi All
only action seems to be on JPY pairs. but not much as before… but pips is pips.
hows everyone else doing?
Hi There
not many signals to trade recently.
just gone long on
AUDUSD @ .72336
AUDJPY @ 87.578
Still making pips with this method even though the thread has gone quiet. Just note that you wont always find entries and you have to be patient and apply the necessary discipline.
hi, i’m trying to follow the method here but the thread is way too long to back read on…
can you help direct me to the base indicators that you guys use?
thank you very much
[QUOTE=“sst;760097”]hi, i’m trying to follow the method here but the thread is way too long to back read on… can you help direct me to the base indicators that you guys use? thank you very much[/QUOTE]
Hi
Refer to the first page
hi.
it only stated 2 MAs + MACD…
may I ask what settings where used for the MA and MACD?
Thanks!
[QUOTE=“sst;760543”]hi. it only stated 2 MAs + MACD… may I ask what settings where used for the MA and MACD? Thanks![/QUOTE]
"Hello SafariPip!
It’s very simple to do yourself First take a chart any chart, I’d say start with the EURUSD, move it to a D1 timeframe ( for daily ) than right click that chart, at the bottom you’ll see properties go to there. Change the background of your chart to white ( or whatever color you wish ) than change your candle stick colors to what you want them to be. Make the foreground black if you did the background white, it is the easiest to see. Than scroll over to common and get rid of show grid. Than click OK and close that box, right click your chart again and select indicators list, and delete all of them. Than add the MACD to your chart, by going to the top of the chart at the insert section than choosing trend, than oscillators you’ll see MACD. Make the colors on the MACD the same as your background, than set the perimeter at Fast: 4 SLOW: 9 MACD SMA: 5 and make sure apply to: close is selected below. and click ok. Than on the left of the chart towards the middle below all the currency pairs, you’ll see the navigator, select the trend section and drag 2 moving averages to the MACD box on the chart on the bottom of the chart, ( macd box should be blank nothing in it before you do this ) Than select the period as 1 with a liner weight MA method and Apply to the first indactors Data. Than for the second EMA make it period 4 and select the same thing, than when the 1 cross the 4 to the downside, you want to sell, when the 1 crosses the 4 to the upside, you want to long. Than we are using a trailing stop to TP, USE a 2 and 8 liner weighted moving average for extra confirmation on a second MACD box. SL we are working on, I’d recommend 100-150 to start, big movements on the daily charts. I use FIBONACCI as extra confirmation for a trade, when price rest in the 50-61.8% zone is typically a stronger signal. We are working on a EMA to make it easier to determine trend, to trade with the trend. This is not a good system to trade ranges really. Hope that helps! if you need more just ask!
Jason "
Hey Snipes,
I’ve recently finished all 80+ pages of ForexPhatom’s thread and am now jumping around in this one. I really like the addition of the 2,8 EMA’s for confirmation. 200 MA is also a big plus.
I just took a long on AUD/USD at 7677 in anticipation for the RBA decision. I’m up 25-30 pips but going to see what happens in ~30 mins. I may close out and take my pips and then trade the news. I’ll keep you posted!