Friday 26 September 2014

Thoughts on Replacing 20EMA

Couple of things...

Thinking on the 20EMA and how I use it, I really think of it as a guide to ensure that PB/RL is deep enough, my reason being to avoid buying too close to a top or selling too close to a bottom. Not saying I can't get rid of it, just that maybe if I understand/define why I like it so much I will be able to replace it easier...

Read this old article by Sam Seiden. He's talking about supply and demand, ensuring you're buying low and selling high by marking out prior S&R before your session starts. Then planning a trade around these levels and using OCO orders to "set and forget" to ensure he doesn't mess with it when the anxiety creeps in. I actually don't think I'm that far off this. I basically do all of that except the orders. Maybe doing a few set and forgets will help me trust my analysis, when I see it work? 
John put me on to Sam Seiden a while back with one his PDFs i think on ForexFactory...
here's some other stuff I want to read on tradingacademy.com...

Here's today's EU chart and an update...




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