I am looking for smaller profits against main trend, that’s all. I am expecting some reversal, not maybe now but in month or two. Do you think that Croatia’s referendum about being part of EU will affect eur?
I don’t even know that there was a referendum in Croatia…
Anyway,
I don’t trust too much foundamentals, because us (microretail traders) can’t really know what & when those will affect the market. We can only try to follow it when we see a clear indication by tech analysis to go up or down…
Smart choice, i locked my profits at 1.2800, i don’t see eur raising more. it sure looks like consolidation before another fall. No trades from me until ranging
locked profits becouse of greek drama…i will be looking to enter long but on better position, it looks like dropping to 1.2870 so i’ll put some buy orders
Great System and thanks for sharing it with us, it’s simple and easy to follow. It helped my decide which method to use. Before, my moving averages were to high and I didn’t use ADX, I like the 5 ema and 10 sma. I also like that your over 30 ADX will trigger and entry in the trade action zone. My current goal is 100 pips a week or 400 pips a month.
I sometimes set my SL around support and resistance levels, but most of the time i wait for another crossover and you can wait after crossover for three dots on parabolicSAR in opposite direction
Thanks a lot, glad that i helped somebody. Nice goal, with this system i gain that much, around 100 sometimes more. I only use it on one pair, thinking about adding one more. But before that i must test it.
Thanks for sharing this nice system. Just to get it clear one question: Do you enter your trades at the close of each 4h candle or do you trade during the 4h candle development.
If you trade at the close than you should have entered your last long trade at 1.3000 on 23/01/2012 on close of the 4h candle at 08.00 (GMT). The close of that long position was triggered by a new bearish crossover today at close of the 08.00 (GMT) 4h candle at 1.2960. The result would be a loss of -40 pips.
Maybe you can clarify that because I do not get the point how you made 80 pips on that trade you mentioned!
Many thanks in advance and keep on tracking this system!
B.
I entered at 1.2917, it wasn’t croosover at the begining of candle but there were important news that came up. U must always watch for fundamentals and sentiment. The situation about greek was very positive so i decided to enter there. The system is only tehnical part, u must use sentimental and fundamental analysis so you can pull the most of each trade.
And as i said so check on parabolic SAR to confirm the reversal, which prevented today one whipsaw, there were only two dots in opposite direction of main trend. I locked my profits becouse of USDX chart which was showing that dollar could rise.