Some Statistics on the Charts

@tommor Entry - you can use a 8EMA/20 crossover. which, if followed by a surge in momentum taking the 8EMA out of the ‘river’ is good, though it can pop back sometimes giving a failed entry. A good signal candle (general price action).
As you suggest 8EMA coming out of the ‘river’.
Your pullback method is great, nothing wrong with that. Really try not to be too far from 8EMA as this will often result in ‘catching knives’ when it decides to pullback to the 8.
As with all trading, practice tends to lead to intuitive discretion.
You can’t go wrong sticking with your method of pullback though.
I can’t emphasise the importance of the 8EMA - this is the guiding light.
Let me know how you get on if you do have a look. All the best :+1:

2 Likes

@Johnny1974
Just like to confirm your Keltner setting:

“20 Period SMA with Envelopes using Average True Range and a multiplier of 1”

Is the above correct?

@meza
Yes - correct.
I see you like indices - me too.
I mainly do Nasdaq and Dax. If you look at Nasdaq on 20th Jan (two days ago) at 7.30pm GMT, there is a great example on 5min timeframe.
As I have said, I only use lower timeframes to find these little trends. Maybe if you use higher timeframes it could require an adjustment.

1 Like

@meza P.S - I know some people may find this statement crazy but sometimes when the 5min is a bit choppy (noisy) I drop down to 2 or 1min timeframe, they can iron out the noise on the 5min.

2 Likes

interesting read and idea suggested about the daily candle, i think any form of algo or system will have flaws and none will make millions but if you can find a way to tilt the edge in your favour then it is well worth a try

That’s interesting that the noise of a 5min chart can be ironed out by dropping down to a 2 or 1 min !

1 Like