can somebody explain to me whether those EMA-crossings are valid setups or not? Please have a look at the chart.
What a chart!!! I call it "the beauty". Isn't it?
First signal: a right one, riskier, but a right one. We have at least a close below EMA50 not validated by Step. So, once it goes up and opens above EMA50 again validated by StepMA_Stoch, we go.
Second signal: It is not a right one. It has not opened below EMA50 before going up again.
I do not take these kind of "signals (?)".
I just bought GBPUSD at 1.7384. Is it ok?
Blooms it is too late for trade now with that system I want to say it is more risky than in daily hours.
European just closed an hour ago, and in the next hour the american dying out, it could be very choppy now till 01.00 AM GMT+1
Check this link for the best time to trade http://www.tradecurrency.ca/times.html
But wish U luck anyway
thanks!! That's what I expected. To cut it short:
To go long the bar has to open below EMA50, crosses it and closes above it. No matter what happened before. Short vice versa. Open and close must be on different sites of the EMA50. Just crossing and reversing is not enough.
So could you please have a look at the EURUSD? The bar from 7.30 pm - 8.00 pm (GMT+1) is NO valid signal because the bar before did not have its open above EMA50. I hope my interpretation is correct.
Some words to the "beauty" of my charts... ;-)
The bars where the high is lower than EMA50 are colored red, the bars where the low is higher than EMA50 are green. Bars crossing or touching the EMA50 are white. It is very easy to follow the chart because you only enter a trade after a white bar (if StepMA is ok, of course).
A last question to this trading day.... Could you please have a look at this chart? I think the great short signal in the morning for the cable wasn't a valid one. But it worked...
You bought it at 1.7384. It should had been at 1.7381 according to my broker though. Anyway, it made a high at 1.7406. That is +22 pips.
BTW, what Kalenzo says is right.
Now you are in bullish mode while it keeps closing above EMA50 with step in green. Good luck.
The cases you ar showing me are "irregulars signals". The best signal is when EMA50 and StepMA_Stoch do the same at the same time. The many bars we go after the cross, the worst. I mean riskier.
Nice colored bars.
You are completly wrong. It is a nice and gorgeous bar to go short. The bar before was a sell too. You are in sell mode since 06:30, 07:00, 08:00, 08:30 and so on. Why? Cause it has been opening above EMA50 with StepMA_Stoch in red at least one bar before the re-sell.
Another thing is if you feel confident when bars hovers, nips, remains suspended within EMA50. It means Flat market = a lot of risk and reluctance.
BTW, could you post the file here that color bars according to EMA50?
Ok Nina... I got it! The first short signal appeared at 6.30 am and from this time on market is in short mode. I understand. As long as there is no reversal signal I can go short if price has not moved too far from EMA50.
Thanks! I asked all that to be sure that I interprete the system correct!
Here is the file to color the bars. You can still change it by clicking with the right button on a bar. It is not my work, I was almost sure that I downloaded it from this forum. But maybe it was a German forum.
Have a good night... (yes, also a trader must sleep sometimes... ;-))