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Trading Forex EURJPY on HAMA Z3 System! It's going, going, and going down. Looking down to 132 - 131 zone areas. New LOD - tick by tick, pips by pips, to downside.
Trading Forex EURJPY on HAMA Z3 System! It's going, going, and going down. Looking down to 132 - 131 zone areas. New LOD - tick by tick, pips by pips, to downside.
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So I'm guessing/hopping that by showing off the Z3 system you're going to make it publicly available?
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On 6/15/09, the EURJPY BEARS managed to hold on control of zone 322 at the upper 137 range and again on 7/2 when they the held BULLS from pulling the price up to the upper 136 range, high of 136.87 last week. From there, the YEN counter pairs weakened further and gave us lotsa pips on our short swing and day trades through end of last Friday session.
EURJPY daily chart as shown below is on Sideway mode based on the Z3 Trend Factor Score. Friday's close was lower than the previous day yet higher than this week's low. The early part of this week's open will be interesting as we may see some constant TOW sessions (Tug-of-War) between the BULLS and the BEARS.
As of Friday, EURJPY is still below the HAMA on D1 and the hourly. We can anticipate the usual retracement in the early sessions. But, word of wisdom, always trade what you see on your chart. I will watch the opening sessions where the BULLS and BEARS players line up from there. Trade well!
So I'm guessing/hopping that by showing off the Z3 system you're going to make it publicly available?
Om_Salat, I have shown the Z3 system from its developmental stage last year or even before that. Since it is zigzag based, you can use the available indicator on MT4 or any of its modifications as posted in this forum. The full system itself was made available to members of the HAMA Traders Group.
the plain hama pad looks better than z3.... too many indicators then it gets more complicated and harder to earn pips
That may very well be true, dzmrd. Pips are still being made by it's users as a stand alone or with some other confirming indicators. HAMA PAD is simple and with proper timing of entry, you can, like you said, earn good pips. This simple approach is actually 2 parts, the HAMA and the PAD. What seems to make Z3 look complicated is simply an expansion of the PAD - price, area, direction. The HAMA is built into it. The rest are visual tools.
From simplicity, comes complexity then to sophistication, as one becomes skillful in observing the market and trading his chart accordingly. As trader gets to his optimum trading potential, the light comes on and says: AHA! IT IS SIMPLE, afterall.
So, I just complicated the simple answer to your simple question. The point is, stick to what works best for you while the same time refine your trading skills from there. But what the heck, for 20 pips a day, who needs all that. You decide!
Linear Mode
