Hi Vahid,

I learnt about the refinement to the original EMA RSI Forex System when Traderany posted under the topic CADCHF weekly chart.
I never imagined at the time I posted the CADCHF weekly chart topic that my interest in the EMA RSI, now with 100 SMA, would be rekindled so I would like between times to have a look at it and exchange any ideas about it from the others who may wish to do the same.

Please would you arrange to transfer all the posts relating to the EMA RSI with the 100 SMA system from the CADCHF weekly chart topic to this board topic.

Thanks in advance,
regards,
aquiagora

Did anyone take (or see) any trade setups with this system today? The only one that I saw that might be a good setup was GBP/USD which would of worked out but I wonder if it was really a good setup. I did not take the trade but would appreciate anyones thoughts.

Bill

Hi Bill,
Aquiagora took. I didn`t take it because I was short (EUR/CHF head&shoulders).

Hi Bill,

I took the GBPUSD trade today - my first attempt.

I entered the trade based on the fact that the price had broken below the 100 SMA, the 5 EMA had crossed below the 12 EMA and RSI was at the 50 level.

I entered manually with a sell trade at 1.52676 at 10:55 CET and then later exited manually because I had to go out at 1.52207 giving +45 pips. Had I been able to babysit the trade I would have allowed it to run longer.

Yesterday I traded short on Gold XAUUSD (not under this system but just by looking at the PA), the first entry at 1184.00 and added two more positions (one too low at 1077.00) but then manually exited at +/-breakeven because the price action started to make me feel nervous as the downward movement seemed to have stalled and I had to go out.
Had I got back in time today, there was a good looking setup under this system after the price started to fall from the 1197 level.
On the 19:00 CET candle the price was just below the 100 SMA and the 5 EMA crossed below the 12 EMA and RSI was going down to the RSI 50 level - a sell entry at the 1191.00 level would have given a good (in hindsight) trade.

Regards,
aquiagora

Another attempt - this time EURGBP.

I entered a sell trade at 0.8415 at 21:12 CET based on price being below the 100 SMA, 5 EMA just crossed below 12 EMA and RSI just below the 50 level.

If the price behaves properly then I should be able to add to this trade when Vahid's potential forming setup at the 100% level happens.

Let's see,
aquiagora

I thought for a good setup on a short trade RSI is suppose to be above RSI 50 for a short while then break below 50 as the 5 EMA is crossing the 12 EMA. Any please clarify if I am correct or not. Thanks.

Bill

Hi Bill,
You are right.

Hi,
I am short - USD/CAD

TP triggered

Hi Any,

Please could you say what your entry level was and what the time was.

I have just come back and checked through various pairs and spotted the short trade on USDCAD - it looks like an entry at around 1.4700 on the 09:00 CET candle was the time.

Regards,
aquiagora

Hi Aquiagora,

almost at the opening of the 41 pips red candle - 1.0446 10.07 CET.

10.07 CE Summer Time

Tried a trade today with this system for the 1st time with a small risk. Went short GBP/AUD and TP just hit a short time ago. 1:1 risk/reward.

I don`t trade this pair because my broker takes 16 pips spread, but I see that it is working great for you- the best signal I have seen for a few days. We had NZD/USD a very good long signal too.

One of my favorite pairs. It is quit volatile. My spread is usually 5 or 6 pips.

Hi Any,

Thanks - I just want to say that the RSI would have been down at the 30 level. I take it that does not matter although strangely enough it is back at the 30 level after a retrace and the price is even lower at 1.03667.

I traded the CADCHF earlier entering at 1.0020 but was stopped out by the spike down giving -40 pips. I came back to see that the price is heading up and 20 pips above my entry.

Regarding the EURGBP I am allowing it to play out longer as this pair is ranging widely.
Regards,
aquiagora

Hi,
in few hours we may have a short trade setup - EUR/CHF, but I don`t know how the system works during the Asian Session. Similar charts we had tuday on GBP/AUD and GBP/CAD

I doubt if the time of day matters with this as long as we stick with the 1 hour time frame.

Hi Any and Bill,

Looking at the GBPAUD on the chart for this system I see a sell setup formed an hour or so after my buy stop on the FLMA trade setup was triggered.

Did you guys trade this pair today?

Regards,
aquiagora

I saw it and thought about it but I did not take it. Wish I would have.