Summary of Subhadeep's 2MA system (explanation in case we are Long)
Two MAs 21SMA and 8EMA
Two timeframe combination:
Hourly-15min.
15min.-5min
First confirm Higher time frame candle close above both MAs, no need of MA cross.
come to lower timeframe to take position for e.g go long when:
there is a minor pivot break
visual pivot break
break out from a range/flag
Stop Loss: low of two bar back (from the entry candle, both the preceding bars should be lower than entry bar)/a minor pivot (if it is closer)
Exit: at a visual pivot (entirely or part profit booking, rest may be trailed or kept till end of day), known resistance.
Don't enter in previous afternoon range (unless you are Subhadeep) afternoon roughly means after European market opens i.e.
after 1:30pm
Being a trend based system, only enter when in clear trend.
vice-versa for short situation.
please feel free to add to above points or correct me
Thanks
Regards
Two MAs 21SMA and 8EMA
Two timeframe combination:
Hourly-15min.
15min.-5min
First confirm Higher time frame candle close above both MAs, no need of MA cross.
come to lower timeframe to take position for e.g go long when:
there is a minor pivot break
visual pivot break
break out from a range/flag
Stop Loss: low of two bar back (from the entry candle, both the preceding bars should be lower than entry bar)/a minor pivot (if it is closer)
Exit: at a visual pivot (entirely or part profit booking, rest may be trailed or kept till end of day), known resistance.
Don't enter in previous afternoon range (unless you are Subhadeep) afternoon roughly means after European market opens i.e.
after 1:30pm
Being a trend based system, only enter when in clear trend.
vice-versa for short situation.
please feel free to add to above points or correct me
Thanks
Regards
Thanks to Subhadeep ji and other veterans who contributed... to teach us all...
Thanks
Regards
Vijay