XO_Method REVISED - page 52
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Without much explanation, see whether you agree with these entries. In my instance I did NOT trade the short marked 10h30, but it was legit imho. I would like to hear your opinions on that short please. Best wishes.
Hi Valeo;
I have studied your method. Thank you for presenting it.
By the way I strongly believe that the new method, not being xo driven should be moved to a new thread. I have spent quite a few days studying the xo_method, only to find that you have switched to an rsi(2) cross rsi(8) trigger method, filtered by cci(15). what would the proper name be for this method? mtf_rsi_cross?
A couple of questions on your entries on this chart:
The first entry marked on this chart is triggered by the rsi(2) crossing rsi(8); but cci(15) has not crossed zero yet. Are you not taking into account price level relative to ema? (i.e. above or below ema(28)?) is the proper entry at 8:05 or 8:10 ?
What is the entry price? where was your exit?
On the second trade:
the H1 rsi(2) is below rsi(8): does this inhibit the trade or not (i.e. you care only for the H1 rsi(8) value being > 50?)
Regarding the short: it is counter-trend; thus NO GO (as your method is trend following - what was the xo(240) signaling at the time?). Nevertheless you could study these setups and come up with a complementary counter-trend method.
Keep up the good work.
Cheers.
Unicorn.
ValeoFX,
Thanks for all of the work that you have put into this thread. I have read it from end to end twice, as well as the PDF.
I am really starting to get the hang of reading the indicators, and have managed to put a few pips in the bank.
I have been patient enough to wait for good signals, but I am still learning the nuances of the system, and a few of my 'good' signals have turned out poorly due to my misreading of the indicators.
Please continue to post your daily chats, they are immensely helpful in understanding what the indicators are telling us.
J
CCI pattern from above chart...
Would just like to add that it can be considered a "Shamu" trade - one of the major CCI patterns from the Woodies CCI book I think (as well as ZLR) because previous CCI15 trend was long.
See also Trading Woodies CCI System by Jeff - The Patterns by Jeff Gannon
Hi Valeo;
I have studied your method. Thank you for presenting it.
By the way I strongly believe that the new method, not being xo driven should be moved to a new thread. I have spent quite a few days studying the xo_method, only to find that you have switched to an rsi(2) cross rsi(8) trigger method, filtered by cci(15). what would the proper name be for this method? mtf_rsi_cross?
A couple of questions on your entries on this chart:
The first entry marked on this chart is triggered by the rsi(2) crossing rsi(8); but cci(15) has not crossed zero yet. Are you not taking into account price level relative to ema? (i.e. above or below ema(28)?) is the proper entry at 8:05 or 8:10 ?
What is the entry price? where was your exit?
On the second trade:
the H1 rsi(2) is below rsi(8): does this inhibit the trade or not (i.e. you care only for the H1 rsi(8) value being > 50?)
Regarding the short: it is counter-trend; thus NO GO (as your method is trend following - what was the xo(240) signaling at the time?). Nevertheless you could study these setups and come up with a complementary counter-trend method.
Keep up the good work.
Cheers.
Unicorn.Thanks Unicorn, appreciate your kind words. Please refer to the Post number so that I can get to it immediately as your reference is in April. I will then respond immediately.
Best wishes.
ValeoFX,
Thanks for all of the work that you have put into this thread. I have read it from end to end twice, as well as the PDF.
I am really starting to get the hang of reading the indicators, and have managed to put a few pips in the bank.
I have been patient enough to wait for good signals, but I am still learning the nuances of the system, and a few of my 'good' signals have turned out poorly due to my misreading of the indicators.
Please continue to post your daily chats, they are immensely helpful in understanding what the indicators are telling us.
JThanks James, much appreciated. Best is not to mix it with other's impressions of what these "nuances" may be. It is pretty straight forward, but you need to study real-time action to see how it changes.
Trust you will soon "master" this method - although we will never master Forex. That makes it so incredibly good to be a Forex Trader.
Best wishes.
Would just like to add that it can be considered a "Shamu" trade - one of the major CCI patterns from the Woodies CCI book I think (as well as ZLR) because previous CCI15 trend was long. See also Trading Woodies CCI System by Jeff - The Patterns by Jeff Gannon
Thanks Suk, always appreciate your input.
Best wishes.
This morning's entry..................
This morning the H1-chart gave the direction away. 08h00 candle-close had RSis crossed for Long and the XO full Green. Therefore, just find entry on M5.
First "give-away" was the bouncing off of the RSi-2 of the RSi-4 @ 08h45 and the CCis cutting through the zero-line. Although the H4 RSi-set-up was not in place yet, the H1-template showed you enough evidence that you could enter Long @ 08h55. You should of course at that late stage of the H1-chart, wait for the H1-candle to close before entering @ 1.9701 at 09h00, but it was legitimate to enter 5m ahead of time.
I closed the first run @ 09h45 for +23 pips due to divergence on the M5 RSi-set-up and re-entered again @ 10h15 when we had another H1-RSi-set-up bouncing off the RSi-4 and the CCis going through the Zero-line, very much like the first entry.
Good exit was @ the 270* Gann which confluenced with the R1-Pivot @ 1.9780. (incedentally, the 90; 180 and 270*Gann levels are MAJOR TPs)
Best wishes.
Thanks Unicorn, appreciate your kind words. Please refer to the Post number so that I can get to it immediately as your reference is in April. I will then respond immediately. Best wishes.
Hi Valeo;
I am referring to post #372.
kind regards.
Unicorn.
Hi Valeo;
I have studied your method. Thank you for presenting it.
By the way I strongly believe that the new method, not being xo driven should be moved to a new thread. I have spent quite a few days studying the xo_method, only to find that you have switched to an rsi(2) cross rsi(8) trigger method, filtered by cci(15). what would the proper name be for this method? mtf_rsi_cross?
A couple of questions on your entries on this chart:
The first entry marked on this chart is triggered by the rsi(2) crossing rsi(8); but cci(15) has not crossed zero yet.I do NOT wait for the CCi-15 to cross the Zero-line Are you not taking into account price level relative to ema? (i.e. above or below ema(28)?) is the proper entry at 8:05 or 8:10 ? My concern is that the 15-EMA be broken, BUT when the retrace is on, I waive that rule and trade purely on the RSi performance, which in this case was correct. Due to a power failure, I could not reproduce my chart the way it was in real-time, but with an overheating RSi-4 (NB) that retrace was as good as gold.
What is the entry price? where was your exit? Entry @ 1.9744 with an exit when the price bounced on the 100-ema and retraced @ 11h15 with a price of 1.9723 (( +21 pips))
On the second trade:
the H1 rsi(2) is below rsi(8): does this inhibit the trade or not (i.e. you care only for the H1 rsi(8) value being > 50?) No, my reading comes off the RSi-2 crossing the RSi-4 and the entry was good (Readings were good at the time, but unfortunately you cannot see the RT situation. In future I will not post charts like these again and strictly speaking I should delete this one for that very reason. SORRY.
Regarding the short: it is counter-trend; thus NO GO (as your method is trend following - what was the xo(240) signaling at the time?). That is the reason why I did not trade it in the first place, but it was good enough for those that wanted to trade it.Nevertheless you could study these setups and come up with a complementary counter-trend method. I have no desire to study such counter-trend set-ups as it creates a whole new ball-game that I have to teach everyone. I believe in keeping to my strategy even if i make 20 pips or so less per day; at least I am not stressed out.
Keep up the good work. I can only keep up what I am doing if people can see the value and help me fine-tune it or improve it; like I did by changing from the original XO-based method.
Cheers.
Unicorn.It may be a good idea for you to comment on the more current entries even if it is just to tell me whether you see my strategy work or if you disagree with my entries.
Best wishes.
First entries today..............
TO ANYONE UNFIMILIAR WITH MY METHOD OF TRADING, PLEASE IGNORE THIS EXAMPLE AS I HAD POSTED A CHART AFTER A POWER OUTAGE AND THEREFORE THE RSi-VALUES YOU SEE FOR THE H1 AND H4 TFs, ARE INCORRECT!!!! THEY DO NOT REPRESENT WHAT WE HAD IN REAL TIME. IN FUTURE I WILL RATHER MISS THE PLACING OF SUCH A CHART THAN CONFUSING SOME. MY SINCEREST APOLOGIES.
Without much explanation, see whether you agree with these entries. In my instance I did NOT trade the short marked 10h30, but it was legit imho. I would like to hear your opinions on that short please.
Best wishes.