Step stoc 50 fx system - page 5
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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
Hi Harold,
Many thanks for your tutorial...I (we) appreciate your continueing effort.
How do you acertain the main trend on the 4Hr? Would that be by price trend (higher high and drawing trend lines) or by use of "Steps" indicators.
regards
4xxxx
Harold4X
I thought your input on Nine's Cat50FX was great, but a very confusing site at times. I have some questions on your system:
For Step Stochastics, the LOCAL TIME ZONE is set to 5, doesn't it matter which time zone our charts are based on?
What do you look for as an exit entry or are you just looking for a 20 PIP target level?
Thanks....
when i look at 4 hr charts i am looking at the position of the 50 100 200 emas they were all in aline showing down trend as for the different zones no it doesnt matter i personally like to get the pivot levels based on midnight to midnight est since market data usually is from ny on east coast thats my prefrence over the years its usually pretty good well now that usd took a hit where does market go from here?????? probably sideways then down then up who knows trade whats happening in front of you put trendlines up do some ta and react. yes i do go for a 20 pip gain but if it blows there i trail it and let market take me out always protecting my 20 my style is this the market range for euro and gbp is anywhere from 80 to 120 getting 20 should not be that hard if you get in at right time doesnt look like much but i trade them at 5 full lots and sometimes more that has taken me 4 years to get to this level of trading but i have been successful at it dont get indicator crazy or you will get paralyzied
HaroldFX
How would you handle the time period of June 30th using your rules for both GBPUSD and EURUSD?
hi et dont understand question
HaroldFX,
Sorry about the post. Based upon the charts for date of June 30th, this would be considered a Level 3 trade since the price has been above the 50 EMA [green]? How would you determine the break of the high? Would you just look at trend line breaks or do you also use any other filters to determine if the trend will continue upward?
hi et here is a chart showing june 30 trade pretty explanitory easy setup
The red/blue line, is that the LSMA? I guess you also use that to confirm whether its still a good time to get in or not? What are your settings?
et thats the triggerline indicator it gives visual direction
here was a trade on euro via a breakout