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Can you tell me if you would enter a new trade if all conditions are met on method 1 but the ADX is > both DM+ and DM- and the box on the top right of chart says "end trend"? Also when you trade 6E, what charts do you watch and do you use a trail to catch the bigger moves?
Thanks,
Susan
Can you help answer these questions from other members on NexusFi?
When able would you please tell me if I read your rules correct way
Short
1. 5 EMA down at list 2 bars
2. 20 EMA down or flat
3. ADX going up and DMI+3a is red
4. Force Index is red
5. Entry the Lowes Low one tick below of the last 5 bars counting an entry bar.
In the case you described, you are probably aprroaching the end of the trend, so you must be careful, and also look for a possbile swing high to your left, or another resistance like murrey math, pivots etc. Best ot then wait for a retrace and then enter. It is difficult for me to explain something in theory without seeing an actual chart. I watch the 6A, 6E, 6B, 6S, 6J, Tf, EMD, NQ,
I use min 2 contract, 2 contract is the trailing one to catch the bigger moves
Perry, Does this mean you don't have a set T2 for the 2nd contract? Do you just use a trailing stop and watch price action to decide when to exit? I have my targets set for 4 & 8 pips. As you are so much more experienced, I was wondering how you manage the runner.
To start out with, use a set T2 stop for the 2nd contract. A 4 and a 8 is fine. When you get more confident you can move your SL to BE+1 after 5 ticks and then watch the runner.
When able please reply. I just need to make sure I got method 2 correctly. Do I need to have DMI+3a to be red and ADX green going up for the short entry?
The long I would say is going to be a reversal. The DMI+ is going to be green (light) and ADX is going up green.
Both in method 1 and method 2 the DM and ADX are used in the same way. When the DM+ (Blue) is greater than the DM- (Red), we are going up, and when the DM-(Red) is greater than the DM+(Blue), we are going down. The Adx is used primarily to show when there is CHOP i.e. ADX is LESS than BOTH the DM+ and DM- and is depicted as Yellow. When the ADX is GREATER than BOTH the DM+ and DM- this predicts the end of a trend.
All these explanations are in the thread, so I recommend you reading the thread more thoroughly.
