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Ok before asking i will show you what i currently use for 1h charts. (im still paper trading looking for a strategy that makes me feel confortable trading)
9ema (thin red line in the image)
18ema (orange)
5wma (black)
12wma (red)
So its like any ma cross method, wait till wma cross and with a small ema channel and wait till ema cross for confirmation, also confirm with rsi below or above 50 and stoch to see overbought or oversold market.
I think this could really work for confirming entry and exit prices...
here are two quick examples i found, first in eurusd, always using h1...
Well here the market has been in a downtrend for about 15 days so i will be aproaching to a bearish market, also a retracement that fit with a trend channel is finding resistance and then WMA crosses, stoch is getting below 80 line after being in overbought lever for a while, but i wait because the ema channel is still notable. Then ema crosses, and rsi is getting below 50 so with this signals (and using pivots and fibo buts thats not the point here) i decide to go short monitoring that rsi gets into the 40-20 rsi, otherway could the trade could reverse. Well there we have a full movement of 135 point minimum. Then both ema and wma shows, and rsi and stoch shows exit points.
Heres a bullish example with the british pound...
I think i don't need to explain this one, we see the same signals, it's funny no i see, both movements are similars hehe...
Based on this examples and lot of chart analisis i did (remember I'm still a noob i can only talk about my paper trading experience), I think this is a very good method to confirm and also maybe identify entry and exit points, I would like to hear what you guys think about it, maybe some recommendation about how setting each MA, if to close, open, high, low, etc.
But what i really wanted to ask is, if someone could share a MA method for 4hs-daily chart, I still can't find a good setup to identify trend reverse and retracements.
9ema (thin red line in the image)
18ema (orange)
5wma (black)
12wma (red)
So its like any ma cross method, wait till wma cross and with a small ema channel and wait till ema cross for confirmation, also confirm with rsi below or above 50 and stoch to see overbought or oversold market.
I think this could really work for confirming entry and exit prices...
here are two quick examples i found, first in eurusd, always using h1...
Well here the market has been in a downtrend for about 15 days so i will be aproaching to a bearish market, also a retracement that fit with a trend channel is finding resistance and then WMA crosses, stoch is getting below 80 line after being in overbought lever for a while, but i wait because the ema channel is still notable. Then ema crosses, and rsi is getting below 50 so with this signals (and using pivots and fibo buts thats not the point here) i decide to go short monitoring that rsi gets into the 40-20 rsi, otherway could the trade could reverse. Well there we have a full movement of 135 point minimum. Then both ema and wma shows, and rsi and stoch shows exit points.
Heres a bullish example with the british pound...
I think i don't need to explain this one, we see the same signals, it's funny no i see, both movements are similars hehe...
Based on this examples and lot of chart analisis i did (remember I'm still a noob i can only talk about my paper trading experience), I think this is a very good method to confirm and also maybe identify entry and exit points, I would like to hear what you guys think about it, maybe some recommendation about how setting each MA, if to close, open, high, low, etc.
But what i really wanted to ask is, if someone could share a MA method for 4hs-daily chart, I still can't find a good setup to identify trend reverse and retracements.
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