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TA Forex Trading
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#Post#: 2--------------------------------------------------
TA Forex Trading
DIR By: jwilsontrade1878
Date: December 15, 2016, 10:33 pm
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This forum has been created for those of us who are dedicated to
pure technical analysis in Forex trading. No single system is
absolute nor is a single system the "holy grail". Trading is a
dynamic process that evolves as we learn and everyone has
something to contribute. Please be mindful of others as they
share on this forum and, above all, be respectful. Disrespect
for other members will not be tolerated in any form. We're here
to help each other in any way we can.
I had a request to post my public trading accounts here at the
beginning so here they are.
New Account...low risk 2% entries, heavier emphasis on long term
trading or swing trading.
HTML https://www.myfxbook.com/members/nettechs/long-term/2123316
**Addition for MA Shade Trading
Setup***********************************************************************
MA Shade Trading System
This is a consolidated post showing how to use the MA Shade
Trading system. The setup will work for any time frame but for
day trading, the 15 minute chart is the best. Also, when using
this system, always check the higher time frames to see where
the larger trend is going. If the daily, 4 hour, and hourly are
up, for example, only look for long positions on the 15 minute
setup and vice versa.
I have included a zip file in this post that includes the SHADE
MA indicator and the finalized template for the setup with all
of the modifications included.
So let’s get right into it…there are 3 basic rules for taking
trades using this setup. Here they are…
1. Wait for the MA shade indicator to change color based on the
direction you want to trade. For bullish setups, the indicator
will change to a blue shade. For bearish setups, the indicator
will change to a gray shade. During this time, the main thing
you want to make sure of is that the faster white MA crosses
over the slower green MA. You’re not actually taking the trade
here…all you’re doing it taking note of the color change. Price
will almost always retrace back in the direction of the previous
trend for a bit when this first occurs. If bullish, all you need
to do at this point is mark the high after the first color
change appears with the MA crossover. If bearish, mark the low
point after the first color change appears along with the MA
crossover.
2. Set a limit order to trigger when price comes back and
exceeds the point you marked in Step 1. For bullish setups, set
it 5 pips above the level. For bearish setups, set it 5 pips
below the level. This will trigger your trade entry. Stop
losses, if you wish to use them, are normally small if the
spread is small on the pair. The safest stop loss is 20 pips but
normally 10 to 15 pips is fine.
3. Take profits after the high volume move or wait until price
moves back to the white MA to close out the trade. I never
expect less than 30 pips on these moves and most of the time
(80% or more), price will move about 50 pips.
Additional notes: Avoid trading when the MA’s are moving
sideways during consolidation. The white MA is the key here.
Ideally, it needs to be showing a 2 o’clock angle up during
bullish setups and at a 4 o’clock angle down when trading
bearish setups. This angle will typically show up during the
initial MA shade color change and then continue once the trigger
is activated. The MA shade will begin increasing in size
(getting fat) once your trade trigger happens. If price seems to
stall after your entry and you’re not seeing any real volume and
the MA shade isn’t getting bigger, it’s probably best to exit
for a small loss or small profit and wait for the next trigger.
Also keep in mind that this system isn't designed to completely
replace your existing method of TA trading. I still highly
recommend that you do your analysis on higher time frames (fib,
trend lines, etc.) to make sure you don't take trades that have
increased odds of being losers. Also, try to always trade with
the trend on the larger time frames. Your odds of success
increase greatly when you do this.
There are a total of 6 example charts, the MA shade indicator,
and the template included in the zip file with this post. I
recommend going through the examples thoroughly and then run the
setup through the MT4 strategy tester to get comfortable with
the trading system before going live with it.
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New EA Public Demo Account Link
HTML https://www.myfxbook.com/members/nettechs/breakout2017/2208547
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#Post#: 3--------------------------------------------------
UJ Weekly Chart
DIR By: jwilsontrade1878
Date: December 15, 2016, 10:39 pm
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I would strongly suspect that the Yen is about to start
gathering it's strength again for another northern surge,
tanking pairs like UJ significantly. My minimum target on my UJ
shorts is currently set for 107 but more downside beyond that
looks to be in the works.
Yen Weekly Chart and UJ Daily Line Chart
#Post#: 4--------------------------------------------------
NewBoard looks nice
DIR By: javalin
Date: December 18, 2016, 6:30 pm
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Pennies thanks for the creation and invite-now i've got to learn
how to use it ;D
#Post#: 5--------------------------------------------------
Re: TA Forex Trading
DIR By: javalin
Date: December 18, 2016, 6:37 pm
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Pennies you the MAN-Giving us a new beginning Merry Christmas to
us--Next year will be brightened by this new forum-once again
thanks
#Post#: 6--------------------------------------------------
Re: TA Forex Trading
DIR By: jwilsontrade1878
Date: December 18, 2016, 6:42 pm
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--- Quote from: javalin link ---
>
> Pennies you the MAN-Giving us a new beginning Merry Christmas
to us--Next year will be brightened by this new forum-once again
thanks
>
--- End Quote ---
I think it will be great Jav. I'll post details about the new
mobile app for the forum tomorrow.
Sent from my LGL62VL using Tapatalk
#Post#: 7--------------------------------------------------
Re: TA Forex Trading
DIR By: Kirby2016
Date: December 18, 2016, 8:15 pm
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just went short U/J and already in the green $$$
#Post#: 8--------------------------------------------------
Re: TA Forex Trading
DIR By: javalin
Date: December 18, 2016, 8:30 pm
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nice Kirby
#Post#: 9--------------------------------------------------
AUD/USD 15 min
DIR By: javalin
Date: December 18, 2016, 8:32 pm
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loving these new pivots-on this 15 min chart i am using the
Daily pivots-been rejected alot at that DPP
#Post#: 10--------------------------------------------------
Re: AUD/USD 15 min
DIR By: javalin
Date: December 18, 2016, 8:34 pm
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LOL WOW that was easier to post a chart than IHUB
#Post#: 11--------------------------------------------------
HEADED SOUTH
DIR By: javalin
Date: December 18, 2016, 10:26 pm
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Aud/JPY and NZD/JPY both headed south
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