The "long weekend" system. (special4x)

Here's a simple and profitable system I developed some time ago. I've called it the "long weekend" system, because early Monday trading is usually too messy.
The system uses price action, 4 MA's, round numbers, S&R, trendlines, and chart patterns. I find the M30 chart the best fit.

If the chart loads, more will follow.

special4x said:

View attachment 81238


Here's a simple and profitable system I developed some time ago. I've called it the "long weekend" system, because early Monday trading is usually too messy.
The system uses price action, 4 MA's, round numbers, S&R, trendlines, and chart patterns. I find the M30 chart the best fit.

If the chart loads, more will follow.

Click to expand...

I'm waiting further details

special4x said:

View attachment 81238


Here's a simple and profitable system I developed some time ago. I've called it the "long weekend" system, because early Monday trading is usually too messy.
The system uses price action, 4 MA's, round numbers, S&R, trendlines, and chart patterns. I find the M30 chart the best fit.

If the chart loads, more will follow.

Click to expand...

On the plus side, I am glad to see you don't depend on 'magic' indicators like ADX, RSI and Momentum etc.

But with so many criteria, how do you resove conflicting indications? For example, when 2 MAs say buy and 2 say wait, support looks solid for the long but there is resistance close above, whereas one chart pattern says buy and 1 says sell and as for trend - how's that defined?

I typed my follow-up doc. this morning + chart. Lost the page and couldn't get back into L2W for some reason. Lost it all. Anyway, tomorton, this may help.
This is just an early morning breakout system, for which the last 2 days gave us no ops. However, I did use it yesterday to pick up an AUD/JPY trade, which I'm still in.
The trade sets up quite noticeably, and regularly, if it's there, using the last few hours of yesterday and the first few hours of today.
The trick is to not overthink it. Just draw your trend lines and any patterns, and wait for the break out.
I'll try and post the chart in a few minutes.

The 4 moving averages are:

White = 8 hr. SMA
Yellow = 1 day SMA
Green = 1 week SMA
Black = 1 month SMA

Round numbers set at 50.




This is the AUD/JPY trade I entered yesterday at 84.75, and still running.
The trend lines, round numbers, and M/A's gave me the confidence to enter the trade.
More on the system later.

I closed my trade at 1700hrs. UK time, at 86.88. I re-entered this morning at 86.69.
My off-screen info. tells me the AUD/JPY still has legs to reach 87.50. I shall close 80% of my trade at this level, and leave 20% to run.




On the attached chart, the black trendlines were drawn last night, the red ones this morning.

Have to nip out. Be back later.

special4x said:

I closed my trade at 1700hrs. UK time, at 86.88. I re-entered this morning at 86.69.
My off-screen info. tells me the AUD/JPY still has legs to reach 87.50. I shall close 80% of my trade at this level, and leave 20% to run.


View attachment 81356

On the attached chart, the black trendlines were drawn last night, the red ones this morning.

Have to nip out. Be back later.

Click to expand...

What is your GMT + ??

Go on mate,
your thread is cool
I like your KISS system

A quick update on my AUD/JPY trade.



Follow me at your own risk :|

my intraday set up routine

I enjoyed our meet-up in Brum yesterday, and it was great to see such a high level of enthusiasm. Thanks to Lance for setting this up:

http://www.meetup.com/Birmingham-St...?a=cr1_grp&rv=cr1&_af=event&_af_eid=225089166

Having referred to my intraday trading set-up routine,( particularly to Steve) I thought I would share this with you.

Gold 30m.

I

Gold 5m.


I hope the pictures and annotations are sufficient, if not, we can discuss it at the next meeting, or via Skype.

If there are any local traders that would like to meet up to talk trading, and maybe trade forex and commodities live, please post on either of the T2W boards below.

http://www.trade2win.com/boards/meetups/164666-west-midlands-traders-meeting-3.html

http://www.trade2win.com/boards/meetups/87746-birmingham-black-country-8.html

All the best,

specialfx

I did not get much insight on your system... Can you explain this in detail...??