Hi all,
I am a new to FX. I have read various methods of trading posted here, all very powerful styles, if applied correctly.
My favs :
1. Kolachi's 5WMA Price action
2. James16 Price action
3. Twoblink's OCC 55/56 tunnel
From this I created a separate system and style of trading. I have been backtesting it for a while and been fairly successful with it.
I trade the 4hr time frame due to commitments.
My chart set up:
EMA 21
EMA 55
LWMA 200
EMA Envelopes
RSI 9
Heikin Ashi Bars
Like Kolachi, i take price and action to enter trades which means i enter trades before the cross actually happen but instead of using 5WMA i use Heikin Ashi bars and RSI. I will post my trades here from now on.
There are 2 reasons why i don't take on MA crosses.
1. Lag
2. Whipsaw
They way i see it MAs are not only good trend indicators but also a good ossilator. They tend to draw away from each other after a correction during a good trend, this is what i call the fading effect or what many of you would call a whipsaw.
MAs also act good resistance areas, thus allowing you to use them as profit taking levels.
So here goes...this is SpeedFX.V2
I am a new to FX. I have read various methods of trading posted here, all very powerful styles, if applied correctly.
My favs :
1. Kolachi's 5WMA Price action
2. James16 Price action
3. Twoblink's OCC 55/56 tunnel
From this I created a separate system and style of trading. I have been backtesting it for a while and been fairly successful with it.
I trade the 4hr time frame due to commitments.
My chart set up:
EMA 21
EMA 55
LWMA 200
EMA Envelopes
RSI 9
Heikin Ashi Bars
Like Kolachi, i take price and action to enter trades which means i enter trades before the cross actually happen but instead of using 5WMA i use Heikin Ashi bars and RSI. I will post my trades here from now on.
There are 2 reasons why i don't take on MA crosses.
1. Lag
2. Whipsaw
They way i see it MAs are not only good trend indicators but also a good ossilator. They tend to draw away from each other after a correction during a good trend, this is what i call the fading effect or what many of you would call a whipsaw.
MAs also act good resistance areas, thus allowing you to use them as profit taking levels.
So here goes...this is SpeedFX.V2