Step stoc 50 fx system - page 4
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
All caught up
Alright, I'm all caught up on the thread now. I only ask 1 thing of you... Please don't go anywhere! Stay here, keep posting. Whoever said you are spot on, is spot on!
1 thing you may want to stress fron the begnning of this thread is for everyone to be on the same data feed. There was no bigger pain in the neck than everone confused over signals because of the different data feeds. Good luck, I know it will be good for us.
Simple is beautiful, here is the template for folks that want it.
OK folks,
Grab the indicators on the first section of this thread and put them in your MT4 platform together with this template. All the settings have been taken care of for you.....does it get any simpler than that? Only if you're talking about Harold's spartan but beautifully simple version of CatFX50 !!!
moneyline
the close of the 800 candle 2577 gave a signal long and yes the mid resistence was 7 pips away but because of the small pivot space between pivots i would have ignored the mid level since price started out at mid support 1 the next level would be r1 since trade started above daily pivot whats interesting over at cat50 fx no one is talking about the sell on euro at 2560 at close of 1400 candle i know that news was coming out right then but it closes 9 pips below 50 ema and below pivot with a 20 pip stop its worth it since next pivot was 19 pips away the only time i would not trade with news is nfp report all others arent as volitile a risk is a risk
moneyline as usual a big help thanks well today we have news that moves market so we will have a lot of little up down kind of moves be very careful if your going to play the news(i never get involved with it to dangerous) they look to take out stops then go the other way. Know one of the problems that confused people over at cat50 was this when price already crosses 50 ema way before you enter market when should one enter? well i have said time and time again there is nothing magical about an ema it is a moving trendline thats all so a good place to reenter is when price comes back to it just like you would with a trendline you draw as long as step stoc agree go for it if you look at gbp today both step stoc clearly to down side price goes up 4 times to 50 ema and daily pivot forming nice confluence resistense and consolidated also so a break of these low would have been a good play to enter or the bouce off 50ema and daily pivot these indicators must be used as indications of whats happening dont get messmerized by just crossovers hope this helps by the way it would help if all had demo from neuimex so we could be on same page
830 EST candle
It is nearly 9:00 EST. The 8:30 candle has crossed the 50, but no stepstoch. We are still w/in 20 of the 1.2546 pivot and the 120 EMA has stalled it for the time being. What setup should I be preparing for right now? For instance, if it stays above the 50, basically where it is, and the step stochs cross, it's a level 1. I guess it really doesn't matter, but I would like to know when I see it what I should be preparing for.
from the 4hr chart down we are in down trend so i would wait for a cross back of 50 for a sell thats my opinion you can counter trend trade if you want but a lot of times when price closes on otherside of 50 and it takes several candles till step stoc follows i personally dont like that setup
That's what I'm talking about!
Thanks Harold, I just sent up the charts last night so I didn't have an opportunity to study it yet. I wanted your take on the situation of these attached 4 HR charts. The uptrend line is extremely strong in my opinion (it touches 5 or 6 points since mid march) and the recent downtrend is pretty strong too. It looks like we are in for something big! What is your take on the 3 EMA's at this point (50 green, 120 orange, 200 red)? They just all fell back into place. After being in reverse order. What does this mean to you typically?
it means right now sentiment is in usd favor but as you see triangle is running out of room so its a toss up right now we can only take it 1 day at a time and see how this thing unfolds
well it looks like that triangle was busted so new dirction there was an obvious breakout this morning right after news of the consolidation you could have entered at 2721 last high or 2734 last overall high easy 20 today
Thanks
OK folks,
Grab the indicators on the first section of this thread and put them in your MT4 platform together with this template. All the settings have been taken care of for you.....does it get any simpler than that? Only if you're talking about Harold's spartan but beautifully simple version of CatFX50 !!!
moneylineThanks Moneline, I will test it out