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Thanks for the reply Rick. I still have a lot of learning to do....

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chaddam

294 Posts.

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11/09/19

13:14

Post #: 40381864
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Originally posted by RickM ↑

Hi Chaddam

Bad luck on that Sell, it was always going down.

I normally hunt around 6 pairs for a over extension of price using the TMA indicator based only on the M1 & M15 charts.
I do use the H1 chart for marking up targets as George described.
I feel the big factor overlooked when using the TMA indicator and the most important point is where is the median price on the chart. If price extends to a high ADR or a Low ADR, where does it start from.

Once we establish this mid point, we can now make a better trade decision on whether taking a reversal trade or a trending trade. This mid point on a chart should be based on a weekly TMA setting.

I use this mid point or median price on a chart to trade all evening long using a smart money management EA that just takes shorts above the medium line or longs below the line on a ranging market.

On the GBPJPY. It looks to me if may run Long to pick up Sellers Stops.

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Thanks for the reply Rick.
I still have a lot of learning to do.
Can you just clarify what you mean by ‘ This mid point on a chart should be based on a weekly TMA setting’.
Thanks Adam
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