Cheers. Its just not what I do I’m afraid. I don’t look at charts for opportunities and then find a strategy, I set the strategy first and then check the pairs where I want to use that strategy.
Copy that 
thank you! I have a plan to go into a buy position once the support level has been hit. I have a trade alert set at 1.19550 and if that alert gets triggered i will start looking at the charts like a hawk for my entry
I’ve got to say it looks like it will hold water.
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I have the outline drawn up of what I want to do to utilise my time available, capital and free margin to run multiple strategies.
I plotted out 5 strategies, 3 of which are variations of each other, each focusing on a different pair -
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Bill Williams fractal trades - These are triggered regardless of any other TA, just using HL bars so they’re not necessarily trend-following - GBP/USD.
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Technical trend-following - Triggered as soon as my 3 basic trend confirmations are in place - 20EMA and price above the 50, swing chart bullish - GBP/JPY.
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Optimum trend-following - Follows if trend is exceptionally consistent - AUD/USD.
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Top currency strength match-up - Follows price direction for whichever pair scores 7-0 or 0-7 v’s 50EMA across the currencies’ respective 7 major charts - currently USD/JPY.
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Trend-following 5m Price/5EMA crossover - EUR/USD.
I’m already trading some. Hoping to learn something.
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Moving average crossover strategies tend to get you into a trade late, out of a trade after giving back some profit, and will chop you up when price is ranging.
To avoid getting chopped up:
- Be careful when the EMA goes horizontally flat.
- Be careful if the current candle is touching both moving averages or is in between both moving averages.
Test this out for yourself and good luck.
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Edit - My Strategy 5 above is a trend-following set-up, i.e. only buying on a close above the 5EMA if the 5 is already above the 20.
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