CatFx50 - page 529
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ok i'm still a noob but can someone tell me exactly how to spot the level 4's nina talking about. i have read the rules with pics but it still not clicking in my head. thanks in advance
c turner
go grab the indicator Klines do a search of this thread . I like it for spotting level 4 trades which are simply a breakout from a previous high or low. Klines plots on your chart the 15,30,1hr and 4hr high and low closes over ?14? periods. it gives a good idea what breakout levels and their relative strength.
Hello,
I strongly recommend you this book to read:
Trading in the zone, if you haven t already.
try this link to have it:
http://r.bstst.com/Trading_in_the_Zone.rar
Regards.Been reading it - very very intersting so far!
Did we have valid level 1 signal at 8:00-8:30cet Bar when price is closed 1 pip below ema50? I opened short position there with stop loss -37 (-34+3spred).
Hi!
What pair?
Nina
Did we have valid level 1 signal at 8:00-8:30cet Bar when price is closed 1 pip below ema50?
I opened short position there with stop loss -37 (-34+3spred).
And there is one more thing that im not so clear with:
When we open position and price go to loss right away and stay there for a few bars (-10/-20 for example), do we close when stepma_stoch dies (go below 0.04) or we keep till stop loss is taken out ?
So far, we'vw had a level 2 short (08:30cet) at 1.2579. Is still on.
Entry level 1 long on cable was more than 20 above EMA50 following Histo. If you follow only aNina, the entry was at 1.8432 and it has made a high at 1.8460.
NJo trade so far on USDCHF. As far as I see, USDJPY is leading right now. But market is not clear at all.
Cable so far, according to EURGBP, is stronger than EURUSD.
Nina
Did we have valid level 1 signal at 8:00-8:30cet Bar when price is closed 1 pip below ema50?
I opened short position there with stop loss -37 (-34+3spred).
And there is one more thing that im not so clear with:
When we open position and price go to loss right away and stay there for a few bars (-10/-20 for example), do we close when stepma_stoch dies (go below 0.04) or we keep till stop loss is taken out ?Hi FetOr,
1. I do not know which pair you've entered short - but: We had no valid level 1 short signal up to know during trading time!
2. We close on stop loss, or meanwhile when we get an opposite signal. Decide yourself if it's enough for or an opposite indication that histo gets negative (other side) and / or price closes under ema50. Closing if histo understeps filter level is IMO to early.
mibl
Hello, Nina and Mibl.
Actually we had level 1 signal, i trade only level 1 and level 4 signals on eur/usd pair.
My question was if 1 pip away close from EMA50 is counted as "close" below EMA50 or we should use some filter for it as we are when price closed more then 20 pips.
I talk about EUR/USD, i trade only that pair using catfx50 atm.
Level 1 sell:
1) Price crosses the EMA50 line
2) A new bar opens below EMA50
3) StepMA_stoch must be red.
Level 2 sell:
1) Price is below EMA 50 while StepMA_Stoch is red.
2) Price opens 1 bar above EMA 50 while StepMA_Stoch is still red.
3) Price opens again below EMA50 and StepMA_Stoch validating red.
Situation at 8:30cet
1) At 8:00 bar price closed below EMA50 (by 1 pip)
2) At 8:30 bar price opened below EMA50 by 2 pips.
3) StepMa_Stoch was signaling red all the time.
Therefore it was validated level 1 signal on EUR/USD pair at 8:30cet, am i right ?
Level 2 sell:
1) Price is below EMA 50 while StepMA_Stoch is red.
2) Price opens 1 bar above EMA 50 while StepMA_Stoch is still red.
3) Price opens again below EMA50 and StepMA_Stoch validating red.
1) At 8:00 bar price closed below EMA50 (by 1 pip)
2) At 8:30 bar price opened below EMA50 by 2 pips.
3) StepMa_Stoch was signaling red all the time.As Nina described it was a level 2 short on eur/usd according to your description of level 2 above
But see additionally that cable is in long mode - so eurusd can change too.
EDIT: Close is close - even one pip is enough.
mibl
It was very risky cable long signal due to facts that StepMA_stoch didnt confirm uptrend (it was below 0.04, actually it was at 0.0057) and price closed more then 20 pips away.
at 8:30cet price crossed ema50 and closed 1 pip below, next bar opened BELOW EMA signaling level 1 short signal.
It wasnt an question if its level 1 signal or not cause it is, i asked if we consider 1 pip close below EMA50 as signal or we should use a few pips (1-3?) filter ?
As Nina described it was a level 2 short on eur/usd according to your description of level 2 above
But see additionally that cable is in long mode - so eurusd can change too.
mibl