1 hour HAMA, 6 ema (1 hr HAMA, 6 ema) | Foreign exchange EA download - MT4/MT5 resources

EAcpu | 3 reads | 0 comments | 2026-05-03

I often get good entries from lower highs and higher lows on the 5 minute chart. A big failure is exiting a trade too early. To try and correct this, I will see if I can trade as follows.

1 hour chart with HAMA or 21 EMA (whichever is better for you, they are the same) and 6 EMA
Only buy above the 1 hour HAMA/21 EMA and sell only below
Entry from 5-minute higher low to lower high
Exits, partial exits at weekly/monthly pivot points/obvious support/resistance areas, and balances on 1 hour close above/below the 6 EMA
Stop loss, move as trade progresses to key levels on numbers and weekly/monthly pivots.

If you trade like this or similar ones, please feel free to share your charts and setups.

When we enter using the 5 minute higher low and lower high, we use a stop loss around 15 pips. For exits, the rule of thumb we come up with is that GU will run about 125-150 pips per day on a move (yes, some days more, some days less). We try to see how many days GU has been moving in a certain direction and where there is an obvious key support/resistance area around the 125 point area.

So in this method it is fair to say that with 15 stops a typical trade would be 50-100 pips. One thing I can promise anyone who comes here is that there will be no trades that use 50-100 pip stops.

Basically, trading above/below the 21 or similar EMA is the same as trading above/below the RSI 50 level.

See attached chart as an example. 1 hour in downtrend. It entered a lower high in 5 minutes and closed near 6256 points.

Some of my favorite themes:

Psychological Horizontal Pivots and Trendlines http://www.forexfactory.com/showthread.php?t=98028 A look at my charts and exit points should highlight the importance I place on this. Thanks to Islanders and Eyevolt.
Low line is higher, high line is lower http://www.forexfactory.com/showthread.php?t=108544 The entry basis for most trades I make.
Trading with VSA http://www.forexfactory.com/showthread.php?t=157629 I use it on 15 minute charts and even with my limited knowledge I find it very helpful. Thank you Shams and Malcolm.
GJ GU UJ Trading Thread http://www.forexfactory.com/showthread.php?t=199926 This is new to me but looks like there are some really good traders out there, PS, if the islanders recommend it, that's fine with me.