Pimpology Lives On - Intensive Care for Newbies - page 11
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Sure can Sir,
The fast ema, a 4 on a 5m chart or a 5 on a 60m chart is the 20ema from the lower timeframe.
what can we glean from this?
Well, a moving average is dynamic support or resistance level, so if a 60m 20ema is just below a breakout of resistance area with the m.a supporting the price the chances of a clean break is much greater than if the m.a was say 100 pips below.
The nearer the better.
Look at the snippet..
The first highlighted area shows a false break of the blue support line with the 5ema (dark green) very far away.
However, the second shows another test of the support, this time with the 5ema very close, hence the break.
It won't work everytime but will save you at least 6 falsies in 10.
I hope this helps.Thank you very much Pimp.
Very clear and informative explanation.
Its an idicator for pivots. I attached it below.
We actually use buc pivots with ODL. The PimpSpit ones we created, use Raw Sunday data so are unaccurate on Monday's
Good team-work though guys. I like it.
Since the inception of the Seminars each Wednesday, (I hope those of you who utilised the session yesterday enjoyed it) I've not had a lot of time to be on here.
However. I have a plan. It would be a shame to just 'leave' the old thread, so from next week all hourly set-ups will be on here and all 4hr set-ups will be here on the original.
This way we can play both long and short term and really maximize our earnings without cluttering this too much.
I'll be back later or tomorrow.
Have a good day.
Zak
F$X$P
Thank you very much. It's the good thread.
Thanks, Zak. Really enjoy how concise this new thread has been.
Hey guys,
having no internet at home yet and having to patiently wait for the Spanish telephone company to do things in their time I was unable to post lessons over the weekend.
Apologies for that, but just to let you know I will post a couple of lessons today in the next hour or so.
Thanks for the support so farYes, Yes, Yes. Know I should be doing better. Look forward to lessons.
Hi All,
First of all I would like to extend my sincere thanks to FXPimp for the wonderful job he is doing for all of us. The seminar conducted by him on 22nd was quite useful and there were a lot of take aways from it. It helped me a lot in understanding this strat and I hope to improve while learning.
Second, I would request all fellow traders(Om Salat etc) to discuss our trades based on the set up. Whether you take it on Live account or Demo, the purpose would be to gauge the entries and exists of fellow traderes and help each other out. FXPimp's support would be inevitable in making us learn. This process might just save him some of the effort as then he can point to our mistakes rather than just posting his own trades.
If you guys think we can learn better this way with support from FXPimp, then participate.
Happy Trading
Asian session
Still thinking Asian session is slow? Think again. I'm riding the wave that financial institution in Europe and US let at run at their night time. I'm scalping the little hickups too! Too bad I've only got 1 monitor, 2 hands, and 2 eyes
.
Salat
BTW, could someone please tell me the link to a site that I could use to link images? My image attachment is getting full. Thanks.
Still thinking Asian session is slow? Think again. I'm riding the wave that financial institution in Europe and US let at run at their night time. I'm scalping the little hickups too! Too bad I've only got 1 monitor, 2 hands, and 2 eyes
Salat
BTW, could someone please tell me the link to a site that I could use to link images? My image attachment is getting full. Thanks.Try this:
www . imageshack . us
You will get a URL for image at the bootom of the screen after uploading ur file.
This is my set up.
ZAK,
At first my billions of thanx to you and your team and I shall be always grateful to you man.
Here I set my 5 min chart in this way.....I just removed some things from it.......What problem can be here with this set up and for your information I am making money in this system...........
I am using 5 MA here.They are 4EMA,20EMA,60EMA,150SMA(as stoploss and exit) and the last one is 240 EMA...
And using only one CCI and that is 63 and I enter in your way........
I use 240 EMA like this way..When I trade long I want at least some candles cross this 240 EMA then some whipsaw what is made by only 150 is washed out and the trade is more reliable and others 600MA , or more I just removed as I don't need that type of long MA here....
How is it????????and I don't use PIVOTS as this set up is enough to say me what to do??????????????
thanx ZAK again....
Try this:
www . imageshack . us
You will get a URL for image at the bootom of the screen after uploading ur file.Thanks.
Asian session took out all the big pips from you europen and us session guys I guess.
When the MAs are aligned in the right order in the higher time frame, GOOD THINGS HAPPEN and start scalping the lower time frame. In my case, the H1 MAs are aligned right and I got lucky I was watching it when it started.
I got in a bit late for the USDJPY and EURJPY. I took one trade for H1 time frame on each currency and got busy scalping the M15, M5, and even M1 20MAs bounces using bigger lots for smaller 20 to 30 pips gain. I used 5 lots and bank 3/5 or 4/5 at 20 to 30 pips and let the rest go with trailing stop loss. You never know when the H1 move is going for a retracement. Darn, all of my EURJPY scalps just got stopped.
Done good today with only one loss today. I'm still figuring out what's the ideal initial stop loss for each currency are for their corresponding time frame.
Salat
BTW, is EURJPY forming a head & shoulder right now? I think if it does not go above 128.95, it is forming one. I'm look out for 1-2-3 going down.