H1 just went LONG I look to the higher time frames for targets H4 is at the EMA LOW...

34 EMA Trading Strategy for newbie's :)

Yup.. I'm looking at my 1 hour EMA HI is at 201.71... so we are either going to contain... and push it back down.. or we are going to make a run back up to 202.63 / 203.94

34 EMA Trading Strategy for newbie's :)

Looking GOOD! I will put in a SELL LIMIT @ 201.25 Maybe it FILLS... if NOT... no sweat If we do NOT fill.. but keep breaking down.. I may open a market order on the pull back

34 EMA Trading Strategy for newbie's :)

Excellent example of how the channel has contained the pull backs... The Daily looks ready to drop some more as well

34 EMA Trading Strategy for newbie's :)

Ok.. so as predicted.. price was contained by the M2 channel.. and is breaking down on the M5 channel.. if we have a confirmed BREAK of the M5 channel.. then I would look for 1) a pull back to the CLOSE EMA M5, or 2) taking the entry without the ...

34 EMA Trading Strategy for newbie's :)

UPDATE 2 — Here we are again... The price is being contained within the M2 channel (bouncing within) and both channels are flattening out. So now we are looking to see which way the price breaks.. Up or Down... I'm still favoring down only ...

34 EMA Trading Strategy for newbie's :)

Again, the indicators are for eSignal.. so unless you're using eSignal they won't work... They are *.EFS files and it won't even let me upload them ...

34 EMA Trading Strategy for newbie's :)

UPDATE 1 — Ok... Here is my NEW M2/M5... Notice how the M2 channel has contained the price.. and the M5 looks like it's bouncing price between the HI/LOW of the channel... There's still some work to do.. but we are still looking good for a ...

34 EMA Trading Strategy for newbie's :)

I use eSignal for my charting.. so they are programmed for eSignal... If there is an MQL Programmer who would like to translate them I would be happy to share them for the rest of the community. (As I use MT for Order Entry Only) Please PM me if you ...

34 EMA Trading Strategy for newbie's :)

M2, M5, H1 — Here is my M2, M5, and H1 charts... Here's what I see... On the 60M chart, it looks like the pull back was contained at the EMA CLOSE (middle) On the 2M chart, we have broken to the down side, setting up the M5 to break down as ...

34 EMA Trading Strategy for newbie's :)

Interesting Indicator... What I've been using is the angle of the channel... so I don't really have a "FLAT" visual.. but I do have an UP/DOWN visual that is based on the angle of the channel.

34 EMA Trading Strategy for newbie's :)

Actually the channel will tell you when price is choppy. Again you should be looking at multiple time-frames... but when the channel is FLAT-LINING... so is the market.. (good time to look for a break-out) when the channel starts pointing UP we ...

34 EMA Trading Strategy for newbie's :)

We have a WINNER!!! Excellent analysis... Using this on the 4H charts will yield HUGE results EVEN when there are false signals (and there are a few... but the positive signals far out-number the false signals) AND the real signals pay-off so much ...

34 EMA Trading Strategy for newbie's :)

You are 100% correct. That was the problem I ran into when looking at other strategies... When the market is MOVING.. almost anything works... it's when the market is done moving or choppy as you call it that not all strategies work well. The key is ...

34 EMA Trading Strategy for newbie's :)

One should ALWAYS trade DEMO when testing out something new. As for currency pairs, I believe it works on ANY market.

34 EMA Trading Strategy for newbie's :)

Yes, we will get into this.. as I will be posting charts and opining on them as the week progresses.. The first thing is to adjust your eyes to the way: Price Action reacts around the channel The way the channels lines up on different time-frames ...

34 EMA Trading Strategy for newbie's :)

I would first look at the Higher Time frames, to see how they are shaping up, but bottom line, this is a "break-out" strategy and NOT ALL TIMES ARE GREAT TRADING TIMES.... This is one of the most important keys to realize. Otherwise one ends up ...

34 EMA Trading Strategy for newbie's :)

Yes... Raghee Horner book is a MUST READ for newbies — Yes, all thanks go to Raghee Horner for such an awesome book. I cannot stress strongly enough this book should be a MUST READ for anyone new to trading and can be found here ( url ). It ...

34 EMA Trading Strategy for newbie's :)

For that particular screen shot, my entry was a pull back @ 207.50 with a SL @ 208.00. I had very little draw down and lots of pips in profit. (I've added to my position on the way down, and locked in profits... yet I still have a trade open from ...

34 EMA Trading Strategy for newbie's :)

First things first... — Here is a sample chart with three 34 EMA's of the HIGH, CLOSE, and LOW. Your first assignment is to remove ALL form your chart and ONLY add this TOOL to your chart! Pay special attention to the way price action looks ...

34 EMA Trading Strategy for newbie's :)