CatFx50 - page 307

[harold4x]

when price shoots up and consolidates draw 2 trendline top and bottom of consolidation makes it look like a flag while the shoot up is the pole i meant 730 est or 1230 gmt

[reemul99]

harold4x:
when price shoots up and consolidates draw 2 trendline top and bottom of consolidation makes it look like a flag while the shoot up is the pole i meant 730 est or 1230 gmt

So, you entered without it crossing the 50 EMA?

Did the fact that this 'bullflag' had appeared make you confident that the price would go back up ?

by the way - thanks for the bullflag explanation - make sense now.

[fxhoboo]

haroldfx

why do you have 3 on the step indicators on your chart instead of just one? do you not use the nina at all?

thanks again so much you ROCK!

[fxhoboo]

haroldfx

thanks so much for the graphic on your eur trade today... great job on a 100+ pip trade... i do not see the benefit of using the extra stoch indicators... i know that you are trying to filter, but could you please clarify.

thanks again so much,

fxhobo

[rollingstone]

If you just take the time to read the last 20 or so pages you will see exactly how Harold uses the indicators.

[rollingstone]

Just click on his name and choose "find all posts by Harold" and get reading

[ted_newyork]

thank you for your info.

hello Dave1

Thank you for your info.

I am learning a lot about catfx50 now.

Dave1:
Hi ted_newyork, The eur/usd trade you mention was a false trade. Easy to say in hindsight but when you look at the confirming bar it only just crossed the 50ema, the 120 and 169 trend lines where sloping up, StepMA Stock gave no clear indication of a downward move.

From my chart with NEXTT, confirmation bar was not just cross but opened under 50EMA clearly.

But I now understood this difference of chart thing will happen a lot because of different deta feed.

Dave1:
When you look at the 1 hour chart (I know this is not part of catfx50 but only for trading discretion) both StockMA lines where almost level, as with the single 30 min StockMA. All this information would have indicated waiting for a more clear signal for going short in this trade in my opinion.

the way of using 1 hr chart is new to me.

Thank you for your advise!

I will keep in mind.

thank you again.

ted

[ted_newyork]

thank you Harold4x

hello Harold4x

thank you for your reply.

Now I understood that you would check other pairs when you find doubt about entering trade.

I also learned from you that you are using entry order.

Good info for me too!!

Thank you again!

ted

harold4x:
hi ted newyork i am originally from ny live in nc now i very rarely trade at 400 am when eur signal came but i also look at chf when trading euro and there was no cross on chf so i wouldnt have taken trade i also didnt enter at the 2263 candle i start 730 to 8am so when a move starts like it did at 530 am i see where 50 ema is and put a entry order in to buy when it gets to within 15 pips of 50 ema so i entered 2256/2258 and closed at 2300 42 pips

[Dave1]

My pleasure ted_newyork, it is just my way of doing things. It is a good idea to check with the higher time frame to get some idea of trend direction, the higher time frames help with this (eg 1hr 4hr). Even trading catfx50 you can gain earlier entry by going down a time frame or two. It's entirely what your comfortable with that matters.

Good trading

[mibl]

rollingstone:
If you just take the time to read the last 20 or so pages you will see exactly how Harold uses the indicators.

Hi rollingstone,

as I followed - harold follows the standard catfx rules but uses instead of histStepMAStoch/aNina the combination of 3 Step-Indicators (2 are StepMAStoch's with different settings, one is a StepStoch) - crossing on all 3

mibl