Hi Lee, I would just refrain from entering a position until the SMA5 and crossing candlestick are in tbe same direction. See USDMXN below: big bullish engulfing candlestick on Thursday crossing bearish SMA5 and ...

Monthly Profit - Daily Trading using SMA

Timber! well hopefully

Monthly Profit - Daily Trading using SMA

Hello Kski, pending orders maybe but based on what, Fibonacci levels? Not so sure I see what you have in mind. As mentioned above in case of a retracement after a signal and provided of course that the stop-loss level has not been reached, I would ...

Monthly Profit - Daily Trading using SMA

Nevertheless I was stopped yesterday. Another personal adjustment I will include in my trading system is to place my stop-loss orders on the previous fractal before the signal candlestick (the one actually crossing SMA5) +/- 10 pips.

Monthly Profit - Daily Trading using SMA

Helle Merka, Look at the orientation of the SMA, up or down? I entered short because the retracement of this orange bull candle allowed an attractive entry level in agreement with the short setup signalled by the big violet candlestick 3 days ...

Monthly Profit - Daily Trading using SMA

Hi Fated82, from my perception just an epidermic and short lived reaction. S/L was out of reach so far and it could in fact have already bottomed out. Looking on the ichimoku (always a plus as far as JPY is involved) it seems bottom was close to ...

Monthly Profit - Daily Trading using SMA

Hi Fated82, your moving average looks a bit strange here is how it looked on my chart (before FOMC minutes). Just in case this strategy's m.a. parameters are Simple Moving Average 5 periods shift 0. All the best

Monthly Profit - Daily Trading using SMA

Hi Fated82. Good setup seemingly. Here is a weekly perspective

Monthly Profit - Daily Trading using SMA

Hi Merka, whenever stop loss was previously hit or not we can re-enter on each candle crossing SMA5 in the direction of the SMA's orientation as mentioned by Bk8 on several occasions as setup continuation pattern. However S/L being often quite big ...

Monthly Profit - Daily Trading using SMA

Thanks Andoseg2 for this interesting presentation. Personnaly I like to use EMA100 which is particularly efficient on some pairs like this one for instance

There is no Magic Moving Average - You need only one

GBPUSD on the brink of collapse? After yesterday missed CPI let's see where unemployment will lead us. Stochastic hugely oversold could help crossing the S/R line. Ichimoku daily is additionally showing bearish Tenkan/Kijun cross. Yallah!

Monthly Profit - Daily Trading using SMA

Could be if today's candlestick closes below Fibonacci level and S/R line

Monthly Profit - Daily Trading using SMA

This is the perfect illustration of how tricky the BB middle band can be. This chart also demonstrates how helpful the MACD is to filter out low probability setups.

Monthly Profit - Daily Trading using SMA

Agreed, just got short now, thanks for the call Skadef.

Monthly Profit - Daily Trading using SMA

EURUSD Will the resistance hold? Difficult to say after missed US CPI so I bought and sold with close S/L so I don't really care.

Monthly Profit - Daily Trading using SMA

Sorry Skadef, I am on mobile platforms exclusively..

Monthly Profit - Daily Trading using SMA

Hi Skadef, yes you are right about Bk8's warning of avoiding setups too close from BB, mainly because BB are showing price action in extension from its equilibrium point in the trend on SMA20. However they are also widening and stretching in ...

Monthly Profit - Daily Trading using SMA

EUR...

Monthly Profit - Daily Trading using SMA

Hi Iniezta, no unfotunately. But it's not that complicated. First you have to learn and understand the candlestick patterns, there are many good resources available on the web. Then study Bollinger bands, trend lines, Fibonacci, main indicators etc. ...

Monthly Profit - Daily Trading using SMA

Hi Bsmile44, Yes I entered one day late but that's the price for a higher probability. I started losing less and then gradually improved my trading when I stopped trying to catch the highs and lows looking for safer trades. I entered long because ...

Monthly Profit - Daily Trading using SMA