SuperSlope Flying Buddha

Post by **pakeha** » Thu Mar 02, 2017 12:39 am

Took the 30 pips and ran

Post by **TraderJoeForex** » Thu Mar 02, 2017 1:03 am

pakeha » Thu Mar 02, 2017 12:39 am wrote:Took the 30 pips and ran

... Yes me too

blazej · Post by **blazej** » Thu Mar 02, 2017 9:24 am

"You may just want to use Bob's 5.1MA, chuck all the rest and swing trade it. Whadda you think?"

cj.png

That is what Captain Jack wrote in his topic. I will watch this with attention, I will even try this at home. Thanks Joe. Brilliant idea.

Post by **TraderJoeForex** » Thu Mar 02, 2017 10:25 am

TraderJoeForex » Wed Mar 01, 2017 10:07 pm wrote:EURJPY shows a buy on H1 and a sell on H4 so I've entered both and will manage accordingly... who says we can't have custard and cream.

I took a small profit on the H1 trade before bed last night and just added a second H4 position this morning.

This gives me a chance to explain that when we get a succession of Flying Buddhas with price moving against the original position I don't take every signal.. I wait for the market to move about 1ATR against me before taking the next signal so in this case it was about 30pips before I entered again.

Post by **TraderJoeForex** » Thu Mar 02, 2017 10:33 am

blazej » Thu Mar 02, 2017 9:24 am wrote:"You may just want to use Bob's 5.1MA, chuck all the rest and swing trade it. Whadda you think?"

That is what Captain Jack wrote in his topic. I will watch this with attention, I will even try this at home. Thanks Joe. Brilliant idea.

Yes, the nice thing about using the 5ema to spot Flying Buddha's is that it turns the MA into a leading indicator of price as we are not waiting for the MA to turn or for price to cross it. Below shows the pattern that the FB indicator is actually spotting. Examples highlighted with a grey box .. they are candles with either a low ABOVE the MA for short setup or high BELOW the MA for long setup.

However I have found Flying Buddha to be an even better breakout indicator than it is directional. And that is why it is best used with a higher timeframe filter like Superslope. Used this way we can indeed catch the swings at least 50% of the time and when it is wrong we are just averaging into a retrace waiting for trend continuation (like H4 EURJPY in the post above) rather than being caught on the wrong side (.. most of the time).

Post by **TraderJoeForex** » Thu Mar 02, 2017 9:51 pm

Second position added on AUDCAD H1

nvfx · Post by **nvfx** » Fri Mar 03, 2017 1:22 am

TraderJoeForex » 03 Mar 2017, 09:51 wrote:Second position added on AUDCAD H1

Hi,

Did you close these trades when the superslope changed to Red?

Post by **TraderJoeForex** » Fri Mar 03, 2017 10:56 am

nvfx » Fri Mar 03, 2017 1:22 am wrote:
TraderJoeForex » 03 Mar 2017, 09:51 wrote:Second position added on AUDCAD H1
Hi,

Did you close these trades when the superslope changed to Red?

I only close on opposite FB either:

1st opposite
Opposite and Range Superslope
Opposite and Opposite Superslope

In this case I have kept open since H4 is also a buy. Yesterday was a retrace day and expect a push up today. Remember on H1 we are watching superslope on D1 so the colour will change during the day. I am not saying wait until daily close to make your decision but that is why I trade H1 and H4 together so I consider the combined view. If H4 was also showing range or sell then I would have closed on the opposite H1 FB this morning.

Post by **SteveHopwood** » Fri Mar 03, 2017 11:56 am

New toy. http://www.stevehopwoodforex.com/phpBB3 ... 56#p152456

Post by **TraderJoeForex** » Fri Mar 03, 2017 12:35 pm

SteveHopwood » Fri Mar 03, 2017 11:56 am wrote:New toy. http://www.stevehopwoodforex.com/phpBB3 ... 56#p152456

Quick work Steve