Complex trading system #14 (Pivots, SAR + EMAs)
Submitted by User on March 15, 2010 - 06:24.
Submitted by Raphael
price at a weekly pivot point on 4hrs and a parabolic Sar indicates to anticipated direction, this is the only two clue I like to watch here.
* Now, I will carry the microscope down to hourly chart look 3 ema crossover, in this explanation I will use 7, 14, 21 parameters depending on where the price is going. Let's take downtrend in this case:
OKAY ! LET GET STARTED
* price on a significant weekly point point on 4hrs and parabolic indicates down
* 7 ema crosses 14 ema and extends through 21 ema, this will manifest after the last cross I mean 7 cross 21 ema, and RSI is below 50 level not oversold.
* The last thing I will like to do here is to carry the microscope much down to 15 mint and the only thing I will do here is to look for my default RSI and I make sure is not oversold.
Take profit and stop parameter
Take profit - like some pips before the next significant weekly pivot point
stay in until hourly parabolic Sar indicates to opposite direction in this case until parabolic Sar indicates to an uptrend I have chart below that will explain more
Stop parameter - some pips above that significant pivot that made you to go for the trade.