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Psychological Levels

This is a discussion on Psychological Levels within the Trading tools forums, part of the Trading Forum category; ForeCastle, When you talked about Moving Averages, your pic shows the moving averages lines up 3 over 8 and 8 ...

      
   
  1. #41
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    ForeCastle,

    When you talked about Moving Averages, your pic shows the moving averages lines up 3 over 8 and 8 over 34, but when you talk about trend you just mention price vs MA defining trend. My question is: Do the MAs need lined up like pic to take a buy, or not?

    Thanks in advance!

    Kindest regards,

    Don

  2. #42
    Senior Member ForeCastle's Avatar
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    We need one moving averages for trend diagnoses, and two moving averages to take a buy or sell.
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  3. #43
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    Quote Originally Posted by ForeCastle View Post
    We need one moving averages for trend diagnoses, and two moving averages to take a buy or sell.
    OK. Safest to trade with trend (Bid above 34 EMA, which is a real good trend tool I see!). Bid above 34 EMA (trend), 3 EMA above 8 EMA and Bid above 3 EMA to Buy. Bid below all 34 EMA, 3 EMA below 8 EMA and Bid below3 EMA to Sell. Stoploss below last swing low (defined by price pivot) for Buy and above last swing high for Sell. Is that correct? Also, do you add any pips to stoploss or just 1 pip below last low or spread plus one pip above last swing high?

    Thanks again! and thanks for the strategy! It turned $50 into $20, but with equity over $100, this morning trading many pairs. But I had to go away for a half hour and it went back down to $20. I need to see if I can improve exit. Maybe stoploss I can use lowest low or highest high over last 5 bars. This would have gotten me out sooner. It was automated. Been in Forex over 8 years and Thank God for this simplicity that has me even seeing profit in years.

    Edit: I see where I went wrong. What I had to go by was your pic and notes. It looks like you're showing H1 EMA 34 and H1 EMA 8 on M5. M5 EMA 8 is M5. All MAs pointing up for buy. MAs layered M5 EMA 8 on top, then H1 8, then H1 EMA 34. Trigger by price crossing M5 8 EMA. And it look like for StopLoss need to use lowest low of last 12 bars (pivot 3 bar formation or fractal 5 bar formation does not fit pic's stoploss' shown).

    Kindest regards,

    Don
    Last edited by disbellj; 02-10-2016 at 09:23 AM.

  4. #44
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    Good Morning everyone

    hello Igorad

    Could you please add average option for price crossing at desired levels in phylevels indicator to avoid too many signals.

    Thanks & Regards
    Giri

    Psychological Levels-capture.png

  5. #45
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    I'm sorry. I found out that I made a mistake, dear ND. Please help me move to the problem and tools.

  6. #46
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    Quote Originally Posted by chinajohn View Post
    I'm sorry. I found out that I made a mistake, dear ND. Please help me move to the problem and tools.
    I moved your post to the premium section to this thread: Discussion and Requests
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  7. #47
    Senior Member Taylor Woods's Avatar
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    can't make disagreement

    We can't make disagreement with the fact that to achieve a profitable trading voyage any trader will require sufficient analysis. A proper due diligence is important before a trader can make decisions of investment. And with the rising demand of forex market, a trader must become careful in choosing trades. And we can't ignore the truth that when a trader uses reliable platform it can supply him reliable technical indicators and forex signals.

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