The Magical MA (EMA 34) is introduced in Raghee's book.
You should equip yourself with the understanding of Support Resistance (SR), Trendline (TL), Candlestick, Chart Formation.
Recognizing HH HL LH LL formation will be the main component in this Magical MA.
HH : Higher High
HL : Higher Low
LH : Lower High
LL : Lower Low
We use higher TF as the guideline / direction when we're trading the 15m Magical MA.
Plz do carefully read thru page1 as all the important clue is in page1.
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I will show more example on how to take the entry point and the SL since it will be easier. TP is hard to show as the indicators is unable to show on the chart for the pivot, support, resistance that have already passed.
I have tons of example, but the chart was too messy when I was capture it last time. So its better not to post it up since I worry it will make you more confuse.
I will try to post some live trades.
The below example is to guide you where you should place your SL TP and where is your EP (entry point)
Look on the the example, we get an LH formation and price trade below the MAGICAL MA.
sell limit order few pips below the LOW
SL few pips above the LH
TP 1 2 3 as shown in chart
I usually took 50-60% profit at TP 1, 20% at TP 2 and let the remaining run until the price goes above the MAGICAL MA or a formation of HL.
(This will varies from trade to trade by considering what is the major trend / what is the HIGHER TF showing)
I'm ready to learn from you Sir.
May I use other Pivot and other then Stoch Divergence, Because I only have MACD divergence ?
Here is one live screenshoot, before hit my TP, just now.
Is this corect TP ? Or EU will continue going down Sir ?
Thanks for the system,
I also think, the 1-2-3 pattern is very powerfull. How is you win/loss ratio?
Maybe you can test fibonacci expantion as TP.
Haha. You entry the same trade with me. But we enter at the different places.
Picture explain thousand of words
Img1 is taken during I enter the trade. EP is where I entry.
Img2 is taken after I wake up from my sleep.
I take my 60% profit at TP 1. And let the remaining position run with SL at +1. I will close the remaining position if it tends to goes above the MAGICAL MA
I didnot sure about others Pivot indicator, but what I think is my pivot indy and your pivot indy should show a similiar value. Btw, I didn't use the mid pivot.
I seldom use divergence on TF 15m. I usually use Stoch and MACD to check for divergence in H1 and trade it in m15.
Check the img below.
All the example below is not EU GU pair. But I do recommend that you use EU GU as the main pair as I found out it is more easy to trade with and lower risk.
70% win if you can master it well and without any emotion intervention.
Sometime when you did trade wisely, you can make a full 100% winning trade for the month.
Wish you tons of pips.
why "magical"? from the book? - otherwise sounds a bit not serious, don't you think?
Thank you, mphopular. Great method!
The word just simply pop up in my mind and I just named it. The content is much more important, isn't it?