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Thread: Forex Trading With Simple Setup

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    Default Forex Trading With Simple Setup

    Hello Everone,

    I have started this thread to discuss forex Trading With Simple Setup.
    I have already posted this setup in another forums and got good response. with above 4-Star rating
    I am extending my support to this Forum.
    Pl feel free to ask questions and make comunication interactive, i am sure will will find this thread most interesting.

    Setup.
    Chart 5Min Chart. with following Simple Moving Average.
    SMA 2400 Close Represent 4Hr Timeframe Res/Sup
    SMA 600 Close Represent 1Hr Timeframe Res/Sup
    SMA 300 Close Represent 30Min Timeframe Res/Sup
    SMA 150 Close Represent 15Min Timeframe Res/Sup
    SMA 50 Close Represent 5Min Timeframe Res/Sup
    SMA 5 Close Represent Current direction.

    observe price patern.
    in addition you can use Daily pivotes points. and 4Hr pivote points.
    Observe how price react after touching SMA.
    Use SMA as suport and resistance... Same setup works with 1Min Chart to 1Hr chart

    I have attached sample chart to show price dynamics.
    I will post chart to show price pattern for UP and down pattern.


    Happy trading
    Ramdas
    Attached Thumbnails Attached Thumbnails eur usd 02.jpg  

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    Default

    Hi Ramdas,

    I'm still don't get it.
    Do i need to open 5 diifferent timeframe(5m, 15m, 30m, 1hr, 4hr), and to observe all 5 of them?

    Or I just choose to concentrate to one of the timeframe to open trade?

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    Default

    Quote Originally Posted by arialun View Post
    Hi Ramdas,

    I'm still don't get it.
    Do i need to open 5 diifferent timeframe(5m, 15m, 30m, 1hr, 4hr), and to observe all 5 of them?

    Or I just choose to concentrate to one of the timeframe to open trade?
    Hello arialun,

    No need to open 5 different timeframes. Simple moving average parameter are calculated in such a way that , you will able to see SMA50 of different timeframes on single chart. e.g SMA600 represent SMA50 of 1Hr chart sma2400 represent sma50 of 4Hr Chart.
    I am about to post UP and DOWN pattern which need to spot on chart. in first post due to size limitation i could not able to post it

    Best Regards
    Ramdas

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    Default UP and DOWN pattern

    Hello everyone

    With referance first post.
    I am attaching UP and DOWN pattern which need to spot on chart, with respect to SMA,
    Second chart show UP pattern formation and subsequent UP move.

    Best Regards
    Ramdas
    Attached Thumbnails Attached Thumbnails Price pattern 01.GIF   gbp usd 13.jpg  

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    Default

    Thank you ramdas.. i find your chart useful

    p/s: im still learning

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    Default My Setup Image.

    Hi everyone,

    attached image shows how six paires are arranged on platform,
    Some explaination of setup.
    With single glance you are looking at six pairs, you can spot what is changing, jpy or GBP or USD, or EUR.
    You can spot possible UP or down pattern formation on more than single pair.

    for example in current image, GBP/JPY has form UP pattern after testing support at SAM150( Colour Brown) at Arrow shown near sma50(Red) price finaly move upside. look at GBP/USD... after testing support at sma150 and sma2400 price finally made UP movement.
    Note: Since today most maket's are closed due to holiday price action is not very good, but GBP made good move.

    Best Regards
    Ramdas
    Attached Thumbnails Attached Thumbnails setup.jpg  

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    Default

    now i think i got it.

    the SMA lines form some sort of Support & Resistance.. is that correct?

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    Default

    Quote Originally Posted by arialun View Post
    now i think i got it.

    the SMA lines form some sort of Support & Resistance.. is that correct?
    Hi arialun,

    Yes you are correct, In this setup we use SMA as support and resistance.
    do not fall in love with crosses..crosses are delayed. and we enter late after cross formation, till that price had move 50 to 60pips and then retrach and take away Stop.

    Best Regards
    Ramdas

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    Default Ramdas :)

    Quote Originally Posted by Ramdas View Post
    Hi arialun,

    Yes you are correct, In this setup we use SMA as support and resistance.
    do not fall in love with crosses..crosses are delayed. and we enter late after cross formation, till that price had move 50 to 60pips and then retrach and take away Stop.

    Best Regards
    Ramdas
    Hi Ramdas is my fx 'GURU'
    i love you....
    nice system, simple and profitable result

    i will share my experiance with this system
    i think this system is great because we can know the 'big move'
    BIG MOVE will occur when all the sma close together...
    when this happen we should focus at that pair and wait for the confirmation about the direction of the movement
    for direction look at the 50SMA when it cross with the price wait for the retracement and look for the bigger SMA position
    and you will get it....

    try practice , practice and practice you will get it
    mr Ramdas maybe you can give a comment
    Last edited by emas; 05-01-2007 at 02:29 PM. Reason: not quality post

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    Default

    Quote Originally Posted by emas View Post
    i will share my experiance with this system
    i think this system is great because we can know the 'big move'
    BIG MOVE will occur when all the sma close together...
    when this happen we should focus at that pair and wait for the confirmation about the direction of the movement
    for direction look at the 50SMA when it cross with the price wait for the retracement and look for the bigger SMA position
    and you will get it....

    try practice , practice and practice you will get it
    mr Ramdas maybe you can give a comment
    Hi emas,

    welcome to fxegypt forum,

    you said it correct. practice practice and practice you will get it.
    FX market is driven by various factors, Technical move, daily supply demand, News driven movement, so it becomes important to understand when to trade, and when not to..if we take any system, which fail under certain circumstances. it is up to the trader to wait for correct opportunity to exist for trade setup. and this is where most failure comes, some trades taken under frustration, under greed and fear, experience failure.
    Trading is more of mental game. if we keep trading setup simple then we can more concentrate on price action which is true indicator. complicated setup makes trade decision very difficult, since any one indicator at any particular time do not match. and keep trader away from trade and with that frustration trader takes wrong trades and feel frustration.

    Best Regards
    Ramdas
    Last edited by Ramdas; 05-01-2007 at 03:58 PM.

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    Default

    Thank you again ramdas... i found your simple setup is very helpful... to understand about price action..... i'm using it right now.

    Happy trading

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    Default

    looks interesting

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    Default

    Quote Originally Posted by goldsniper View Post
    Thank you again ramdas... i found your simple setup is very helpful... to understand about price action..... i'm using it right now.

    Happy trading
    Hi goldsniper,

    Yes setup is simple and very usefull to understand price action.
    with this setup, you are observing price action from time frames 5min-sma50 to 4Hr-sma50 on a single 5min chart. else you would have open 5 different chart from 5min to 4Hour and this takes full screen of platform, and looking to other pair becoms difficult. with this setup, you can easily monitor 6paires.
    so keep it simple and concentrate more on Price which is Number one indicator.
    If you look at price dynamics around these SMA you will wonder how price is smart. even on 1min chart you will be shock with price action.

    Best regards
    Ramdas

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    Default

    Quote Originally Posted by Ramdas View Post
    Hi goldsniper,

    Yes setup is simple and very usefull to understand price action.
    with this setup, you are observing price action from time frames 5min-sma50 to 4Hr-sma50 on a single 5min chart. else you would have open 5 different chart from 5min to 4Hour and this takes full screen of platform, and looking to other pair becoms difficult. with this setup, you can easily monitor 6paires.
    so keep it simple and concentrate more on Price which is Number one indicator.
    If you look at price dynamics around these SMA you will wonder how price is smart. even on 1min chart you will be shock with price action.

    Best regards
    Ramdas
    So, your recommendation is to monitor the movement in 5M chart ya?
    Hmm.. getting really intersting here.. Going to study the chart now..

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    Default Some Chart's with comments

    I am attaching some Chart which i has posted in other forum.
    these chart are usefull to understand price map, price dynamics
    Don't be under impression that what's the use of showing old chart.....we always learn from history and based on history we try to predict futhure.
    attach chart showing Good move and price behaviour before good move.

    Best Regards
    Ramdas
    Attached Thumbnails Attached Thumbnails gbp usd sma2400 trend rev.jpg  

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