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#3 The Best of EMA Crosses on S/R

AUTHOR: Ayetemimowa James
STRATEGY: The Best of EMA Crosses on S/R
Time frames: 1hr and 15min
Indicators: 5ema(close-red), 6ema(Open-blue), 20ema(close green), Daily, weekly, monthly pivot,Fibonacci retracement Weekly and Daily support and resistants, Breakout-Eagle Indicator.

PAIRS: Anything traded online that respects technicals - Commodities, FOREX, INDEXES, SHARES ETC

SETUP:
I will be using EUR/USD June 3 as an example.

Open the 1hr chart
plot the 5ema(close-red),6ema(open-blue), 20ema(close), add the ema_crosses indicator activating alert, plot the resistant and support lines using ur weekly and daily time frame, plot other S/R like pivots and fibo retracments of daily, weekly and even monthly. add the breakout_eagle indicator let ur parameter cover the first 8hours candles of the day in the 1hrs timeframe.

Plot all the indicators in another window of 15min time frame.

1 HOUR TF (Click for detailed image)
Forex strategy
15 MIN TF (Click for detailed image)
Forex strategy

ENTRY:
I have read a lot of research work on ema crosses and i have seen alot of setups that are not practical at all. but what i will give hear seems to be very easy, sure, and poise more confidence even for newbies to apply.

Wait for the 5ema to cross 6ema in the 15min time frame. An alarm will sound and an arrow will show you the direction. When you see the arrow, this is what you should do. In the 15min time frame draw a vertical line for visual aid and change the time frame to 1hour.

For you to enter a trade for short for example. If the arrow in 15min is pointing down, as you change to 1hr tf, the 5ema/6ema must be crossing and very obvious, then move back to 15min and make an entry few pips below the candle with the arrow. DO NOT PLACE A TRADE IF THE 5EMA/6EMA ARE NOT CROSSING.

EXIT:
This is very vital. You dont need for opposite ema cross before you checkout/exit, this many not be funny sometime like more people believe. Your next exit should be the next support or resistant line.

I have attached my weekly and daily template for MT4 support and resistant lines. Additionally you can add pivots of daily, weekly and fibonacci retracement of weekly, daily and or 4hrs swing highs and low

You need all the S/R lines above. Why? Online trading is a big challenge and with lots of drama, as price setout in a direction it has a destination which is a support or resistant point. So if you rely on a point, you may regret because another vital point may be a barrier to meeting your assumed point.

The knowledge of daily range can also help you in planning your entry and exit.

I hope you have a happy trading.

I will also welcome comments.

I believe you can enjoy this cos i gave to my newest newbie and she performed better without my help,

James Ayetemimowa
femjam78@yahoo.com
james.ayetemimowa@gmail.com

All the Indicators:

EMA Crossover Signal.mq4
BreakOut-EAGLE_indicator.mq4
Pivot Points Multitimeframe.mq4
DYNAMIC_Breakout_Daily_Range_v10.mq4

Additional indicators (Swing Recognition)

Demark_trend_new.mq4
Mouteki.mq4

The template for 1hr and 15min tf

_my eu rules.zip



http://forex-strategies-revealed.com/


The Strategy is best used during the London Session for Commodities and Forex Market

Great strategy James!

Could you please clarify what do you do with Breakout-Eagle indicator. You said "add the breakout_eagle indicator let ur parameter cover the first 8hours candles of the day in the 1hrs timeframe." What does that mean? Thanks!

Bryan

Hello Bryan,

That breakout-eagle indicator helps to give a visual aid of your trading session. Let it cover the Frankfurt, London and New York sessions, those are the active periods are are likely going to experience good and promising trades. I use Northfinance and i start with the first 8th hour candle of the day and ends at the London Closing candle.

Happy Trading.

James

Thanks James, I got it =)

Bryan

Simple and easy - that's what I like about it.
My question is: what stops would you suggest? I should follow your advice.

Thank you for sharing your trading system! You and Edward and his team are really special people.
William G.

Hi Williams,

Your stop should be the previous Support/Resistant line as the case may be.

James.

A good of trendline breaks (valid break can help too). In the 15min time frame, an ema cross alert, can be confirmed with Mouteki break in trendline or a fibonacci retracement before you make an entry.

Goodluck.

James

your strategy rocks indeed....what a great job James, i will rate it one on the efficient ones!!!

Nas