- Tenkan-sen is the average value of the price for the first time interval calculated as sum of maximum and minimum for this period of time devided by 2;
- Kijun-sen is the average value of the price for the second time interval;
- Senkou Span A is the middle of interval between two above mentioned lines (Tenkan-sen and Kijun-sen) shifted onward on the value of the second time interval;
- Senkou Span B is the average value of the price for the third time interval shifted onward on the value of the second time interval;
frankly speaking strategy looks promising but very advanced for me to add in my trading tool kit ever .I'll be interested to see only the forecasts it does. Thread is great
My EOD thoughts.
Plot is very messy lacking real direction. The daily spot chart printed a white short day, with the body closing in a position at the lower edge the bearish cloud and remaining below the 200 MA. Tenkan is still drooping and collaborating with Kijun to make a pincer. Oscillators are falling in bearish divergence indicating EUR could still go lower at least in the short term.
Over 300 persons viewed this thread in the last 36 hours.......I would have thought someone might have some comments/questions.
Cheers - Sam
Sam, I am always here.
Situation is not very clear accoding to the Ichimoku so I will not post the charts once again.
Downtrend is still going on.
But the price is trying to be reversed very slowly.
I do not expect this reversal during this week.
Now is flat.
Maksigen System W1.
Price is floating between two suppost/resistance lines 1.1825 and 1.2206 (it is weekly timeframe).
Price is inside the cloud (flat) and the cloud was changed to downtrend (possible good downtrend in near future). But the other 3 Ichimoku lines are indicates uptrend. So I do not believe in any price movement today.
Downtrend is going on from the beginning of the last week. Stop loss is around 1.2110 - 1.2115.
Maksigen Trading system D1.
Good downtrend starting from the beginning of the last week.
Dymanic resistance line is 1.1950 and support lines are 1.2105 and 1.2195.
If price is crossing 1.2014 we may go sell (sell stop order at the price of 1.2014), if 1.2096 - we may go buy.
Please note that this 1.2014 and 1.2096 are dynamically moving as well.
We are not using this indicator on this M30 timeframe.
Uptrend is still going on from yesterday's morning.
It was buy signal yesterday in 1.2011 price and the order should be closed by stop loss at around 1.2057 today early morning (about 46 pips in profit). Few minutes ago was buy signals butthe stop loss is too closed to the price (dangerious to trade).
Maksigen Trading System M30.
Resistance at 1.2045, support 1.2070 and 1.2080.
If the price is crossing 1.1996 we may go sell.
No any possible buy signal were indicated.
Price is reversing to the uptrend but now it flat during the about 2 hours already. Price fully in the cloud. The cloud is very thin so the situation may be changed any time.
It was very good sell signal early morning and the price is trying to be reversed now (stop loss is around 1.2072 - 1.2075).
Maksigen Tradin System M15.
Width of the trading channel is 57 pips that indicating the good trading day.
If you are using the channel for trading so buy from 1.2080 and sell from 1.2023.
If you are acting according to support/resistance line in this system (the other Maksigen trading rules) so we have the following:
Uptrend with dynamic resistance at 1.2070. So the price is just near resistance line.
Support at 1.2049 and 1.2045.
If you are acting on breakout (the 3rd Maksigen trading rules) so buy from 1.2098 (buy stop order) and sell from 1.2014 (sell stop order).
And I want to say something about yesterday.
Maksigen Trading System M15. Yesterday.
The width of the channel was 27 pips and usually people are not trading (because of 27 pips only - not good trading day). But the price passed this channel with 27 pips during the 3 times. So it was very good day for the people who are trading inside the Maksigen channel catching the small profit on M15 timeframe. They may get +81 pips in total. For the people who are acting according support/resistance lines and trading outside the channel it was risky but profitable day (one sell order with small profit and one buy with small profit as well). And it was very good day for the people acting on breakout rules of Maksigen system: sell stop order was executed, it was closed already with good profit.
But yesterday was very risky day for Maksigen tradin system on M15.
Thanks for all your hard work newdigital.
Ichi - my EOD thoughts.
The daily spot chart printed a white long day, with the body closing through the cloud and above the 200 MA. (Completing the 3 waves I mentioned a few days ago perhaps?). Sekou spans are producing horizontal lines which is suspicious, and Tenkan has barely reacted to this big move. All technical elements are in place on the daily indicating bullish strength, however the weekly is still in bear mode, so one would need to wait for that to change before getting too excited. The short term DT line is just above and could give resistance to a higher move.
That DTL together with an uptrend line are forming a symmetrical triangle which is generally regarded as a period of consolidation before the price moves beyond one of the identified trendlines.
A break below the lower trendline is used by technical traders to signal a move lower, while a break above the upper trendline signals the beginning of a move upward. (Symmetrical triangles are generally thought of as continuation patterns).
Maksigen Trading System, M15 timeframe.
Just some information which everybody may read directly from the image attached:
-width of the channel is 50 pips today (good trading day);
- if you are trading from outside the channel so you should already have sell order sometime ago at 1.2127;
- if you are trading on breakout so sell stop order at 1.2070 and buy stop at 1.2146;
- downtrend with support with 1.2134 and 1.2139; resisance with 1.2098 and 1.2070.
And it is too late already for GBPUSD: sell stop order was executes at the 1.7377.
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