What Really Works From One Professional - page 72
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thanks Chris
Hi Chris,
Thank you with your V pattern example.
Sometimes I got 123 system failure if i use in 1 min chart, many chopy there. The DT Zig Zag will go down or up again. May i know your second opinion which you are assure the trend will be reversal ?
Thank you
I can see it.
and in your quote above
Can you see other attached pictures ?
MartThanks, the wierd thing is I can see the picture you posted above. but not this one....my computer has a problem....thanks for the reply..
I see it now from a different computer....
Now, let's put aside all the bickering and get back to the real forex trading..let's discuss what works and what not work from this strategy......
What we have to look for everyday from this v pattern....We all want the pips in the end.... so, forget who is right and who is wrong...at the end, as long as this strategy gives us the pips. I f this strategy is not what you like to follow then go look for other strategy you are contend with.. or design your own strategy...Please do not criticize other for follow this el wave strategy or even catfx50 or even to any other strategy... It takes the owner a great deal to put together a strategy and want to share it to all trader in hoping everyone will benefit from it...I am greatful for this thread as well as all threads from this great forum.......thank you....
in closing, I am not here to criticize anyone, I am here to learn and to earn the pips....
Is there any way on a 1min chart to scroll forward just 1 candle at a time besides dragging the price with a mouse? The forward / backward arrows move to many candles with a quick press. .....
Thank you for asking
Press F12 key to advance 1 candle at a time.
Hope that helps
ChrisThank you for answering
Usefull.
Great question
Hi Chris,
Thank you with your V pattern example.
Sometimes I got 123 system failure if i use in 1 min chart, many chopy there. The DT Zig Zag will go down or up again. May i know your second opinion which you are assure the trend will be reversal ?
Thank youFirst of all, Way to get back on track people.
Secondly, Nyonk asks a great question. Has anyone noticied any other tendencies that bring on a reversal other than a 123? Any consistent CCI patterns? (I am researching this myself now). Any ideas?
First of all, Way to get back on track people. Secondly, Nyonk asks a great question. Has anyone noticied any other tendencies that bring on a reversal other than a 123? Any consistent CCI patterns? (I am researching this myself now). Any ideas?
In my humble opinion, there's no need to apply other indicators to the triggerpage, JD has posted. This one contains everything you need. Read about the float and check DiNapoli for the MACD-Stoch-combination. Everything in this template makes sense!
JPY/GBP breakout model
Has anyone noticied any other tendencies that bring on a reversal other than a 123?
Here's something I've been looking at since I started reexamining this thread. It doesn't necessarily follow what JD was talking about, but it's in the same spirit of using the market activity on Cable during the London open. It's a breakout idea for GbpUsd (another one), but my visual inspection for the last couple of years seems pretty good. (Definately will need detailed inspection of past data, though.)
This model is best followed on a short timeframe (5, 15, or 30). It's not a shortterm model, as most of the trades will last a few hours, but it will allow you to find better entries into the market.
The basic idea is to place a trade during the London session on a breakout of the jpy session, with a twist. I place the i-sessions indicator on my chart and for the US session I changed the color to NONE. (If you want your chart to show the same results as mine you'll need to adjust the times based on your broker's server time in relation to gmt. I'm using the generic Metatrader datafeed from Metaquotes, and I don't know what their server is set for.)
Anyway, on the pic below, jpy session is in gold and London session is in beige. Where they overlap is in blue (I didn't choose these times, they are set at the default for the indicator.)
The twist is that you don't take a breakout of the jpy session until after the overlap of the eur session is complete. One the pic below, you place a breakout of the gold after the blue is complete. I'd make sure it brokeout at least 5-10 pips or at least make sure it breaks any recent S/R.
As for stops, you'll need to be generous. There are a lot of retractions and you need to give the trade some room to breathe. I was thinking of something aroung the 61.8% retracement of the jpy session. This could be adjusted based on the volatility of the jpy session. A volatile session and you may want to reduce the stop to a 50% retracement. A non-volatile session may call for a stop of a 100% retracement. Always make sure the stop aligns with S/R.
As for exits, I'm not sure. Just as with stops, you need to give the trade a chance to run. Sometimes that means you'll give some good profits back, but I think you have to do that or you'll never hit the big winners.
Well, that's the idea. Take a look at the chart below for a better understanding. This isn't for somebody that wants to get in and get out fast. The trades need time to develop. As I said above, I made a quick visual inspection of the M15 chart going back about 500 trading days. I think this could do well if traded properly. This isn't something I'd try and trade mechanically, as you need to take into account S/R and market activity.
If you want to check this out, place i-sessions on your 15M GbpUsd chart, change the Days to 500 and USA session color to NONE.
Let me know what you think.
Keris
Took Profits
Just cashed in on 114 pips since euro open
E X C E L L E N T
Yes very nice drop today!
sold 8375, covered 8241, can't beat it with a stick, then caught 11 more on the last push down as of this posting... still think cable will run to 8210 but i am done for the day.
::money dance::