XO_Method REVISED - page 68
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radibg, why don't you try reading the thread like the rest of us? It may be long but worth it. No short cuts. Huge, momentous amounts of work has gone in to this and you can find all that you want inside the thread. Get clear first - this isn't an "indicator" with "rules", it's an entire trading and analysis Master Key System (with rules). Try being patient as well, we're pro traders, not tea (or vodka) boys for at your beck and command, mate. We know you're worth a million dollars for showing up and are super hungry for incredible success, but I feel I had to say something about the demands being made on the traders. It's your second post and there's so much here not just on this thread, but the entire forum is a virtual forex world so take your time, relax and get comfortable with yourself before you put off the people who would gladly help you it will do you a lot of favors, trust me I've been around here long enough.
This morning's set-up..........
Last night's entry on M15 @ 20h15 was good for 55 pips, but what happenend @ 23h00? Where did that spike come from? Mine is on MIG charts and it does not show on Activ. Anyone seen that too?
This morning is very different, but that makes FX interesting, doesn't it?
08h00 candle (M15) showed the "Diamond-M15" short BUT the CCi-5 never crossed the zero-line!! (Clue #1). However, I am showing you what was happening INSIDE the candle with 11 minutes left. You had to wait for the candle to close before making a decision (and the 60-EMA was not broken either. (Clue#2))
The H1-chart showed a LONG bias, but the retrace that followed afetr 08h00, made it difficult to interpret, but when the price pulled back (as you can see from the M15 chart attached), it was obvious that the sentiment is still LONG.
Interestingly enough, the H4-chart showed a SHORT bias @ 08h00, except that one indicator was strongly LONG. (The RSiOMA set @ 3/8). I have been testing this setting for the past 8 weeks now and it looks pretty reliable.
Clue #3 was the Fib level @ 2.0038 which was last night's High. This level was tested @ 08h45 and again @ 10h15 without success.
So, I decided not to take any position until we have a clear break even if it means no trade for me this morning. As I write the price is trying to break the previous High with CCi-5 overheating on M15and threatening to overheat on H-1 too. RSi-setup on M15 now too overheated for me to want to enter long.
Wish you well - please let us have your take on how you interpreted the market this morning.
Here is mine, i entered on the first trend bar of cci for 30 pips. (yeah my "not greedy account" is happy).
I stay in on my greedy account, protected @ breakeven.
radibg, why don't you try reading the thread like the rest of us? It may be long but worth it. No short cuts. Huge, momentous amounts of work has gone in to this and you can find all that you want inside the thread. Get clear first - this isn't an "indicator" with "rules", it's an entire trading and analysis Master Key System (with rules). Try being patient as well, we're pro traders, not tea (or vodka) boys for at your beck and command, mate. We know you're worth a million dollars for showing up and are super hungry for incredible success, but I feel I had to say something about the demands being made on the traders. It's your second post and there's so much here not just on this thread, but the entire forum is a virtual forex world so take your time, relax and get comfortable with yourself before you put off the people who would gladly help you it will do you a lot of favors, trust me I've been around here long enough.
Here was my entry this morning. Below is the 5 min chart.
The 1 Hour at the time was in an uptrend ( price was hugging the MA's nicely, CCI was bullish, and the RSI's had crossed to the upside. None were overheated.
On the 5 minute there was a retracement in which the quick CCI came below zero. The longer term CCI decreased and kissed the zero line. It looked like price was compressing against the MA's. It appeared to me price may keep going to the upside.
My entry was at 2.0041. The 11:15 candle showed price close above 97 on the RSI and the CCI was above the 165 level. I exited for a nice quick game. In hindsight, it appears i could have either taken a close at the next level of the 450 line, or when the CCI came back below from above 165? I'm not sure if this depends on the type of trader you are, or if there is a more sound way to judge. In any event, the 1 Hour was showing overheating so an exit was justified either way.
Please let me know if my analysis was accurate or if i mistook something i shouldn't have?
Best,
cl
RE explanation
No one can explain it better than the posts by ValeoFX on this thread hence the encouragement to read up - and between the lines plus study on charts highly recommended. Since I decided to make a real study of the posts here I always win pips. It is simple but not at all easy I would say.
No one can explain it better than the posts by ValeoFX on this thread hence the encouragement to read up - and between the lines plus study on charts highly recommended. Since I decided to make a real study of the posts here I always win pips. It is simple but not at all easy I would say.
I completley agree. I am in the process of doing that. I guess my question was more centered around a mistake i made yesterday about getting in waaaay too late.
Thanks for your time,
cl
Cl's chart..............
Hi Cl and other guys,
Cl, I do not see that you have the CCi-5_Alert on your candles? The candle where you entered overheated and I stayed out for that very reason. If you do not have this Alert, let me know and I will post it real quick for you.
Best wishes.
This afternoon's entries..........
I think the 2 entries this afternoon was fairly well signalled. Entry should have been on the 14h15 candle, but I was messing around and only got in one candle later, but still with enough pips.
My second entry was a "given" after the retrace and entered @ 15h40 for a price of 2.0002 and closed out @ 1.9970 @ 16h32:12 (+32 pips).
You will notice that I have changed my CCi-setup slightly, but it seems to be very effective. I will NOT do without the CCi-5 ever, but the Trnd_CCi was changed to 34 6 weeks ago to see how it was performing and much to my delight, it was bringing the bacon home. Entry when CCi-34 crosses zero-line. Please feel free to try it as I have traded it live, otherwise stay with the original set-up.
Best wishes.
Hi Cl and other guys,
Cl, I do not see that you have the CCi-5_Alert on your candles? The candle where you entered overheated and I stayed out for that very reason. If you do not have this Alert, let me know and I will post it real quick for you.
Best wishes.It appears it didn't compile when i extracted them from the 5 minute zip file. I have compiled them and attached them to the chart. I guess the only thing i do not have ( not sure if it's available or if it's just a different version of an indicator posted) is the diamond indicator.
Thanks,
cl