When the evidence points overwhelmingly toward one direction, the big players will do the opposite for their “easy” money, before the real trend starts.
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Yep absolutely. They will be most probably waiting for the DJI to open?
@rocktrucker
I hope your day ends in profit, my friend.
My daily chart entry on Nzd/Cad triggered on that spike too.
So do I, luckily I am playing with small amounts for this experiment. The news spikes all the currencies and sends them to test either support or resistance levels again and then it goes back to what it was doing before or less.
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@rocktrucker
. But just so you know, this Spike and retrace would be absolutely, stunningly, perfect for king of forex strategy. It would be a yuuuuge money maker
I wiill have a look for that King of Forex material. Thanks for that. Have you got a course?
No course needed. You can buy it from his web store but if you watch just a couple of the videos you will catch on right away. It’s a bit too much information to post in a forum but it is not hard to do.
You would have thanked the forex gods for that Spike without even considering the news. The farther away price moves from the 9 EMA the better. While everyone else is ready to commit Harry caray, you would be thinking you have been blessed with a fantastic opportunity.
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I have long been considering that we could open a new forum or even do it here, where we could do live King of forex trading together. The problem is, most of the people would be learning by using micro lots. So they would still need to use something like the channel strategy for income until they are proficient at it.
Maybe just have a day and time set aside as a scheduled event?
Sounds good. I have been using the countertrend strategy for a while now and am very happy with the concept. It works very well with longer timeframe areas of S&R or SMC.
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@noccin
I think the concept is sound too. We will have to give some people time to watch a few of the videos so hopefully we can be doing this in the coming weeks.
It’s not something you plan for (or maybe you do) but seeing that would be tough mentally!
Hi AT, thanks for your generous sharing! I am a new trader and I have tried to apply your strategy to my chart, but confused about:
- When you said you would exit “when 6ema reverses”, does that mean the slope of 6ema reverses, or the price going to the wrong side of 6ema?
- So many signals appear, how would you filter out those false signals?
Thanks a lot!
Hi Victor.
Welcome to the forum.
It is a bit vague, I admit, to know when to best exit. I’ve always said that I don’t rely on the 6ema reversing for my own trading. But it has been determined to be at least a good, reasonable, indication that the trend is slowing. My opinion is that it means when the ema reverses direction.
There are so many other things you can do as well.
You can use a free indicator that changes color when the trend reverses.
You can use the PSAR.
You can decide to close at a certain profit level.
You can move your stop loss 2 candles into profit when you have 4 candles and keep moving it if trend continues and profit increases. Letting yourself get stopped out in profit if price reverses.
For filtering. everyone on the forum will give you a different answer. I don’t filter, myself as I think I miss out on too many great trades. One decent trade makes up for several small losses. My filter is having a short stop loss.
If you want to use a filter, I strongly suggest the 100 ema. When price is above it, look for only buy signals. When price is below it, look for only sell signals. The bonus is that you can use it for the Octopus Nest strategy, so its very useful.
Just so you know, on a typical day, the way I am trading for the last month or so - On a typical low income day, I end up with 20-30 pips profit. That consists of 3-6 winning trades giving me 40 or 50 pips and 2 losing trades for 6-10 pips each.
I miss out, however on at least 100 pips EVERY day when I ignore signals.
So for every trade, be content with a win. There are so many signals if you are using 2 or 3 pairs on 1 and 5 minute timeframes. I could literally make 20 pips a day just on winning 2 pips per trade in the morning. The honest truth is you don’t even have to catch a trend to make money. You need 1 candle of profit. More than that is great, but you don’t need it.
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I have read thru hundreds of posts in this thread.
I dont see where any trades are being executed.
I do see several mentions of “we could have” and “woohoo, we could get rich if we had played that” nonsense.
I see several unrealistic pie in the sky statements that our goal is to just make X pips, but not one single piece of evidence showing that these are little more than smoke and mirrors claims.
…I have seen several mentions that it is much easier to be profitable when using a signals service.
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Hello guys,
Thanks to AmericanTrader for this strategy.
I confess I haven’t read it all.
I made a simple code for tradingview with crosses and alerts.
I hope it hasn’t been done yet 
but too many messages to read.
//@version=5
indicator(title="AT 4EMA", overlay=true)
ema_up = input.int(title = "EMA Up", defval = 32)
ema_low = input.int(title = "EMA low", defval = 32)
ema_yellow = input.int(title = "EMA yellow", defval = 14)
ema_white = input.int(title = "EMA white", defval = 6)
ema_up_plot = ta.ema(high, ema_up)
ema_low_plot = ta.ema(low, ema_up)
ema_yellow_plot = ta.ema(close, ema_yellow)
ema_white_plot = ta.ema(close, ema_white)
plot(ema_up_plot, color = color.green, linewidth = 2)
plot(ema_low_plot, color = color.green, linewidth = 2)
plot(ema_yellow_plot, color = color.yellow)
plot(ema_white_plot, color = color.white)
is_cross_white_green_low = ta.cross(ema_white_plot, ema_low_plot)
is_cross_white_green_up = ta.cross(ema_white_plot, ema_up_plot)
plotshape(is_cross_white_green_low ? ema_low_plot : na, "Circle", shape.circle, location.absolute, color.white)
plotshape(is_cross_white_green_up ? ema_up_plot : na, "Circle", shape.circle, location.absolute, color.white)
is_cross_yellow_low = ta.cross(ema_yellow_plot, ema_up_plot)
is_cross_yellow_up = ta.cross(ema_yellow_plot, ema_low_plot)
plotshape(is_cross_yellow_low ? ema_yellow_plot : na, "Circle", shape.circle, location.absolute, color.yellow)
plotshape(is_cross_yellow_up ? ema_yellow_plot : na, "Circle", shape.circle, location.absolute, color.yellow)
alertcondition(is_cross_white_green_low, title = "White Cross Low", message = "White Cross Low")
alertcondition(is_cross_white_green_up, title = "White Cross Up", message = "White Cross Up")
alertcondition(is_cross_yellow_low, title = "Yellow Cross Low", message = "Yellow Cross Low")
alertcondition(is_cross_yellow_low, title = "Yellow Cross Up", message = "Yellow Cross Up")
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