21sma & 60sma

jungles

Guest
614 67
This thread will record my testing of a simple strategy, taking trades after a bounce off a 21SMA, 60M.

Whilst the bounce is the signal to take notice, the strategy also relies heavily upon reading PA and SR.

In the trade shown below, taken Friday, we have a bounce off the 21SMA (blue arrow), a good up trend (higher highs, higher lows), and no resistance at/ near entry.

The +2% TP was reached.

I have no idea if this strategy will deliver an edge.........more live trades testing this simple strategy starting next week.

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neil

Legendary member
5,167 748
Re: 21sma

This thread will record my testing of a simple strategy, taking trades after a bounce off a 21SMA, 60M.

Whilst the bounce is the signal to take notice, the strategy also relies heavily upon reading PA and SR.

In the trade shown below, taken Friday, we have a bounce off the 21SMA (blue arrow), a good up trend (higher highs, higher lows), and no resistance at/ near entry.

The +2% TP was reached.

I have no idea if this strategy will deliver an edge.........more live trades testing this simple strategy starting next week.

.

How will you cope with sideways price action - have you looked at old charts?
Good luck and look forward to following your journey(y)

As an aside -it seems that price bounce off 21ma was also a bounce off Resistance turned to support
 
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jungles

Guest
614 67
Re: 21sma

Neil, thanks

I dont trade sideways markets. I use a 60M to determine what is, is not a sideways market, by interpreting pivot highs and lows.

How will you cope with sideways price action - have you looked at old charts?
Good luck and look forward to following your journey(y)
 

Dameon

Junior member
31 1
Re: 21sma

Nice one jungles. I use a EMA 20, but for the sideways markets, I use S/R levels drawn from past events.

Simplify the trade.

Dameon
 

jungles

Guest
614 67
Re: 21sma

cadjpy60..........trying to get filled at 6.80

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jungles

Guest
614 67
Re: 21sma

cadjpy.......i consider this one high risk

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forexkunta

Established member
818 24
Re: 21sma

Jungles,
You might try adding an 84sma to your chart. It will give you the bias of the 4H t/f as well. I am posting a chart that has the 504 on it. It is absolutely amazing how pa reacts around these 3 sma's. Check it out and see what you think. Will help with ranging markets, as well as give you the 1h, 4h, and daily bias on the same chart. Where you go from here is up to you. Bear in mind that all of the sma's are multiples of 21, which is a Fibonacci number.
 

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jungles

Guest
614 67
Re: 21sma

yes, i trade the same direction of 240

i'll take a look at 504

thanks

Jungles,
You might try adding an 84sma to your chart. It will give you the bias of the 4H t/f as well. I am posting a chart that has the 504 on it. It is absolutely amazing how pa reacts around these 3 sma's. Check it out and see what you think. Will help with ranging markets, as well as give you the 1h, 4h, and daily bias on the same chart. Where you go from here is up to you. Bear in mind that all of the sma's are multiples of 21, which is a Fibonacci number.
 
 
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