danarm
Experienced member
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Hi all
Trust everyone is well...
My philosophy in trading is TO keep it simple and stick to your trading plan...
I use a 200ma & 50ma simple and a 20ma exponential...The 21CCi and 10CCI are key as well for trends...
I work off a Daily, 60min and 15min charts for specific entry points.
The 1st point is to always remember where you are compared to to your 200ma. This is critical and the greater the distance you are away from the 200ma the greater the chance of an aggressive pullback to the 200ma.
There are 3 stages in a move...
1) The drive away from the 200ma..Use the 20 and 50ma as a support or resistance.
2) The pullback and break of 20ma and 50ma..This is what we call the Box strategy when the candles are boxed between the 200ma and the 50ma... Be careful here as u never truely know the exact support and resistance levels... However the 50% retracement rule is key here and calculate this before every trade... Look at the GBPJPY chart below... The 1st higher low before the break of the 20ma was key and then the break of the 50ma for a 50% move, then a retacement for a 123 setup and a bounce off the 50ma for a pullback to the 200ma....
3) At the point of return to the 200ma is key..This is the resting point and you need to wait for a clear move for the direction... The 21CCI is key here and on every time frame the 21 CCI shows me the trend...
Recently with the markets being so bad i have had to move onto the 15min on the currencies for entry points so i can grab at least 25 points on each trade on the london open...
I have specialised on this for ages and it definitely works...
I focus on pairings of CHF's , GBP, EUR's and then JPY's and when these pairs move together i then look for the best setup and then trade the 2,3 or 4 pairs and this tends to bank me quite a bit each am from 6.30 am to 10am...
There is a little bit more to it and i will cover it later but that is the idea...
Thats a start for now...
Will post each day around midday...
Good luck
![Big grin :D :D](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Trust everyone is well...
My philosophy in trading is TO keep it simple and stick to your trading plan...
I use a 200ma & 50ma simple and a 20ma exponential...The 21CCi and 10CCI are key as well for trends...
I work off a Daily, 60min and 15min charts for specific entry points.
The 1st point is to always remember where you are compared to to your 200ma. This is critical and the greater the distance you are away from the 200ma the greater the chance of an aggressive pullback to the 200ma.
There are 3 stages in a move...
1) The drive away from the 200ma..Use the 20 and 50ma as a support or resistance.
2) The pullback and break of 20ma and 50ma..This is what we call the Box strategy when the candles are boxed between the 200ma and the 50ma... Be careful here as u never truely know the exact support and resistance levels... However the 50% retracement rule is key here and calculate this before every trade... Look at the GBPJPY chart below... The 1st higher low before the break of the 20ma was key and then the break of the 50ma for a 50% move, then a retacement for a 123 setup and a bounce off the 50ma for a pullback to the 200ma....
3) At the point of return to the 200ma is key..This is the resting point and you need to wait for a clear move for the direction... The 21CCI is key here and on every time frame the 21 CCI shows me the trend...
Recently with the markets being so bad i have had to move onto the 15min on the currencies for entry points so i can grab at least 25 points on each trade on the london open...
I have specialised on this for ages and it definitely works...
I focus on pairings of CHF's , GBP, EUR's and then JPY's and when these pairs move together i then look for the best setup and then trade the 2,3 or 4 pairs and this tends to bank me quite a bit each am from 6.30 am to 10am...
There is a little bit more to it and i will cover it later but that is the idea...
Thats a start for now...
Will post each day around midday...
Good luck