10.4 A Complete System

[rebyte2]

GBPJPY lining up.

Hope 350 pips away from the 240 is not an issue.

[etheldreda]

... You will also see a thin yellow line. It is a 20MA, when price crosses the 20MA on a 4H chart that usually means price is change direction. When a open and close of a candle is below the 20MA then the AO will change color but many times that is too late for a good trade. ..

Bob,
in this case, what kind of MA are you using? I've tried the common SMA(Price Close) and LWMA(Price Open) but both looks different from your pic. Either you use different setting for MA or just different broker time that leads to different H4 bar

thank you,
-ethe-

[APQN]

GBPJPY lining up.

Hope 350 pips away from the 240 is not an issue.

I personally wouldn't take this trade because price has passed the WP and the WS1. There is not much room for price to move. I notice price tends to stays within the Mid WS2 (bottom green dotted line) and the Mid WR2 (top red dotted line).

I could be totally wrong though!

Good luck with the trade anyway.

[nicoacademia]

You will also see a thin yellow line. It is a 20MA, when price crosses the 20MA on a 4H chart that usually means price is change direction. When a open and close of a candle is below the 20MA then the AO will change color but many times that is too late for a good trade.

If you want to add a filter to your trading put a 20MA on your screen and put pending orders below it so you dont place your pending orders too early and get a peaker trade.

eye balling a few charts. this is a very good filter as the market respects this 20 number.

[nanningbob]

... You will also see a thin yellow line. It is a 20MA, when price crosses the 20MA on a 4H chart that usually means price is change direction. When a open and close of a candle is below the 20MA then the AO will change color but many times that is too late for a good trade. ..

Bob,
in this case, what kind of MA are you using? I've tried the common SMA(Price Close) and LWMA(Price Open) but both looks different from your pic. Either you use different setting for MA or just different broker time that leads to different H4 bar

thank you,
-ethe-

I will have to double check but it should be the LWMA OPEN or try LWMA Close. They should not be that far apart to make a difference. I also will look at a 10MA for a tighter follow and see which one I like better but generally the 20 is good for a MA cross trade and maybe the 10 for placing pending orders. I just have not studied it enough to make a decision. I see the comments and suggestions, waiting for RSI 2 to come off the top is a good suggestion except I am not around my computer all day to watch it. The 20MA I could use an EA to get my first entrance and pending trades after that. When I first studied 10.4 I had tried a 20, 40, 60 MA for multiple entrances but liked the pending using midpivots and S/R lines better. I could set my trades well in advance and not worry about them at all with good spacing, whereas MA entrances offered some variance with the MA not spaced properly especially when price was changing direction. The RSI 2 became the clincher and made everything fall together.

[mjws00]

I added to my GBPNZD short @WR1 probably where some of you are in. Right now.

I also closed it and my short from above. Closed all of it when WMR1 didn't break down. Not willing to give up profits in the case of a retrace. I'll congratulate the more patient types later. Just don't want to be in while this thing potentially waffles around sideways. Good Luck all. Yep I guard the account like a fiend and still haven't mastered blind zen pending style.

Without the add. I would have let this ride to target the pivot. With the add @ BE, just wasn't feeling it.

Must've misclicked and killed it on Empty4. Here is what it looked like.

Mike

[etheldreda]

..I will have to double check but it should be the LWMA OPEN or try LWMA Close. They should not be that far apart to make a difference...

Yup,
have just tried both and they are very close together, will pick either one then. Thank you...

[cjthomson]

... study the Charts and use the 240 LWMA Touch Indicator too, it will give you some cool Alerts and if you know how to interpreat those Alerts you will smile 75% of the time to your Bank.

Happy Trading Y'all.
xrismak

xrismak - thanks for your response. I have been looking for this Touch Indicator that you refer to but not found it. Any chance you could post it here please?
Thanks.

[alex_forex]

You will also see a thin yellow line. It is a 20MA, when price crosses the 20MA on a 4H chart that usually means price is change direction. When a open and close of a candle is below the 20MA then the AO will change color but many times that is too late for a good trade.

If you want to add a filter to your trading put a 20MA on your screen and put pending orders below it so you dont place your pending orders too early and get a peaker trade.

eye balling a few charts. this is a very good filter as the market respects this 20 number.

Price Action do NOT respect any Moving Average.
MAs are lagging Price.

[nicoacademia]

You will also see a thin yellow line. It is a 20MA, when price crosses the 20MA on a 4H chart that usually means price is change direction. When a open and close of a candle is below the 20MA then the AO will change color but many times that is too late for a good trade.

If you want to add a filter to your trading put a 20MA on your screen and put pending orders below it so you dont place your pending orders too early and get a peaker trade.

eye balling a few charts. this is a very good filter as the market respects this 20 number.

Price Action do NOT respect any Moving Average.
MAs are lagging Price.

really? that's the best you got?
maybe you don't know how to use a moving average.

and...btw
the fulcrum of this system involves an MA.

good rhetoric from the niall fuller/2nd skies/ardurino schenato camp.