Well, you’re right, I triple checked and it turned out that I made a mistake. The difference is only a pip though, but I canceled my orders. So only USD/CAD still floating and no pending orders.
Hello!
No new signals today, my USD/CAD trade is still open, eight trading days already, but its 26 pips away from TP now. Getting closer.
Having followed and read this thread for a few days now, I want to check if I’m reading things correctly.
As at today, I’m seeing a possible new short signal developing on USDCAD. Am I right? Even though it has been trending down for some time anyway?
vessel, wait until the bar close @00:00 broker’s time and then put pending order according to the trend! cheers.
I see GBPUSD USDCHF and EURUSD as inside bars today but all have flatlining SMA’s in my opinion this making them a no go. Thoughts?
IMHO, EUR/USD SMA is falling slightly, while USD/CHF is rising slightly, I have not looked @ GBP/USD but it usually is in agreement with EUR/USD. I think they are goer’s.
I’m just testing this system myself so I could be wrong.
Hi WAN! I’m tempted, but we have to see what’s there instead of what we want to see, so I’m passing these IB’s. The SMA is clearly pointing at 3 o’clock, flat as it can be. Maybe Toby can confirm this?
By the way, my USD/CAD trade is still open… This is taking soooo long.
Absolutly not! All 3 have flat (or virtually) flat SMA’s. If you follow the system by the rules you will stay out of these trades. If you don’t then you’re not following this system. You’re simply gambling.
There will always be other trades.
OK guys, my take on the direction of the SMA 21: This is not about pulling things by the hair in order to get a trade, this is about getting in trades that represent the lowest risk and the highest chance of reaching reward. In our case it’s trading in the direction of the trend. If the SMA is pointing slightly up-ish or down-ish, probobly it’s flat. It’s been flat on the pairs in question for quite some time. For a comparison check the SMA’s of EUR/JPY, GBP/JPY, NZD/USD, AUD/USD, that is the way a SMA is pointing up or down. That’s my take on the direction of the SMA.
Of the three, GBPUSD is the only one looking as if it’s headed ins by direction, especially if I tilt my head 45 degrees to the right 
But then, when I look back to 22 December, it was pointing even more up, with an inside bar, and it proceeded to go south.
I’m out. For now.
After going thru this thread and the fairly simple principles for this system I think this is good enough to at least demo for now and then hopefully take it live in the near future. So in the mean time I’ll start putting my entries and results on this thread (if thats OK). So here goes:
GBP/USD: Buy: 1.5909 st 1.5859 tl 1.6009
There were a couple of other inside bars (EUR/USD and USD/CHF) but, the SMA was flat the GBP/USD seemed to be the only one with the SMA going in any sort of direction.
Will update as I go…
Here we are seeing one way which this method lacks constraint. Not ideal in a system.
Toby what’s your take on the GBPUSD?
I’m not going to be taking the GBP/USD trade. To me the 21-SMA looks very flat!
Furthermore the pair is at a point of resistance I think, and pushing up another 100pips I think will be a challenge.
Hi all,
i’m new here and find this system very interesting. Would like to ask for some advice if possible.
From what I gathered in this thread, looking at the AUD/USD daily chart, although there is still some time before the bar closes, it does look like the 12 as well as 14 SMA is going on a down trend and an inside bar is forming. Good time to short this pair using this system when the bar closes inside? Anyone else here think so? opinions?
Just here to learn, guide me towards the right direction if I’m wrong, please dont flame.
cheers
I see what you are seeing, but using the 21 SMA which is what this system originally called for.
Like you say though, a long way to go before today’s bar closes.
Also, don’t forget to set your entry point 5 pips beyond the close of the previous bar, rather than going straight in. That just helps to confirm the direction to a degree.
Good morning
My GBP/USD trade entry was triggered this morning and resulted in a -50 pip loss. But, just getting started with this system so will see what happens next.
It’s no longer an inside bar.
Keeping an eye on USDCAD and NZDUSD, although NZD tends to follow AUD against USD.
Question to throw out there: If USDCAD has been trending down since 8 March and a new IB forms now, do you still look to enter, or are you looking for a whole new trend to start?
I avoided this one due to the resistance zone it would have caused me to trade into. Always worth keeping an eye on!
USD/CAD is forming a new IB, and SMA is trending down. The trick is my previous USD/CAD trade is still on. Toby said that he normally takes these signals. So I’m probably going to put on some pending orders.
By the way, I’m happy that I didn’t take any of the yesterdays IB’s due to the flat SMA, all would be losers.
You are right. I should’ve just stayed away due to the SMA to begin with. This system going to be I interesting to learn and understand.