5 minutes profitable gbpjpy system

[alanj]

I don't understand a word of what he said, but it sounds interesting... can someone clear up what he said please?

[lawgirl21]

Am I correct that an entry may take 10 or more candles to validly set-up? Rebecca

[gandalf]

I have a few questions if you can answer.

1. Do you define a retrace by a completed bar in the reverse direction. Or do you just set an entry order 5 pips inside the bar that closed with the 8 pip EMA gap

2. Does the retrace have to happen with 8 candles of the 8pip EMA spread or 8 candles of the EMA cross over

thanks

[forexboy]

I would suggest waiting for a long run in either direction before entering a trade using EA crossovers. (at least 40 pips) the 10 and 26 is effective. so is 10 and 13, 5 and 8 .. Because they are lagging indicators I would use other indicators to confirm these set ups like candlestick patterns, or over bought , over sold stochastics or RSI.

[forexboy]

Also a good idea is the take those trades in the direction of the 60 and 4 hour chart. So if the trend is up on the two time frames.. take the buy signals off the .EAs and avoid taking the sell signals