Channel trading system - page 28
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Good signal if:
- price blue line is very near of trend yellow line if PT indicator;
- we see the dot of Kaufnam AMA indicator now or later;
- 2 dotted pending orders lines of MaksiGen indicator is very near from each other.
But it happened may be once in a week ...thank you very much for clear explanation.
I'll check again the charts .
It is just the example of the signals.
As I said - I am not trading those cases (too risky for me).
But many traders are using it as valid signals.
And it is technical explanation about why we had this breakout (white line crossed the price on historical data):
now,
I am reading all thread again. some point is new.
yesterday , i have three position by the sysytem .all of them stopped.
as i am new in the system , it would be better review my trade after and before them.
1-EUR/USD: I have a bullish channel . but PT didn't show a good starting for long .buy .and the kaufman ama signal was bear and no red nor pink dot .
2-GBP/CHF: every thing eas OK . but PT was in O.S area. and could not go more down.
3- EUR/JPY: bullish channel, positive RSI , being on support area of maksigen channel .only PT had adown head.
as a resualt ,
1- attention to PT is the first step .
as shi-channel repaint itself , not use it only in lower TF . consider upper TF . D1 H4
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at the end , how can i put the image between text . for instence put gbp.gif below the gbp explain
?
you mean this system doesn't work?..I thought it did
you mean this system doesn't work?..I thought it did
did i write anything about not working?
I said as i am new in the system , i should review my trade and find whys , withe my friends helping .
Does the "reviewing a new member's mistakes " show the disability of system ?
yesterday , i have three position by the sysytem .all of them stopped.
as i am new in the system , it would be better review my trade after and before them.
1-EUR/USD: I have a bullish channel . but PT didn't show a good starting for long .buy .and the kaufman ama signal was bear and no red nor pink dot .
2-GBP/CHF: every thing eas OK . but PT was in O.S area. and could not go more down.
3- EUR/JPY: bullish channel, positive RSI , being on support area of maksigen channel .only PT had adown head.
as a resualt ,
1- attention to PT is the first step .
as shi-channel repaint itself , not use it only in lower TF . consider upper TF . D1 H4
============
at the end , how can i put the image between text . for instence put gbp.gif below the gbp explainHi macd&rsi,
I used this channel M5 system for the long time. And I am using it sometimes.
My personal problem: I can not look at the charts all day and night - I am moderating th forum. So, all the system I selected - without looking on the charts all day and night.
I used this system with Ichimoku for public signals in our calendar. It was more than 1 year ago. Than, when we did not have vendors with RAS - I started to use it manually with RAS.
Personally I used 2 systems: BrainTrading on Alpari and this M5 channel.
It is fully omfortable for me because when I opened the Metatraders in the morning so I already know - will I trade today, or I will close Metatraders for today and will not trade today.
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It is system on M5 timeframe only.
PT indicator is MTF case. Re-painting (continuing painting).
So, I am using this indicator just to understand about "were we are" and what happened with th price when I slept".
In this case I am not trading every breakout case.
There are some weeks withlout any single trade and it is normal case for this system.
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For example, I am trading GBPUSD or some other pair.
And to trade it - I am always looking for EURUSD and USDCHF. And in this combination of EURUSD/USDCHF I understand USDCHF as the leading pair.
It is the small explanation about how to use PT indicator in the morning befoire any trade is open:
So, I am desribing here my morning.
When no any trade is open and I need to decide - will I trade today or not.
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After that I look at Ichimoku chart. You can use standard Ichimoku indicator. The only you need is to change the color of Chinkou Span line from green to white in the indicator's settings (input).
As I understand USDCHF as a leading pair for EURUSD/USDCHF combination so I am looking for USDCHF Ichimoku chart H4 first:
We see the following:
- price is inside the cloud. Flat or choppy market.
- cloud is very thin so this market condition can be changed in any doirection any time.
- AbsoluteStrengh indicator - flat on H4: uptrend was finished but correction was not started yet. We know that after uptrend we must have correction, right? We can not receive downtrend after uptrend. It is always correction between uptrend and downtrend.
- TrendStrenght and MaksiGen trend line - uptrend.
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Actions.
PT indicator (M5 timeframe on "ready to go" condition). It may be breakout today.
Chinkou Span line (white line on H4 timeframe) is crossing the price on historical data. If this line crosses the price on close bar - it will be good downtrend with possible take profit as 1.0821 (border of the cloud on H4 Ichimoku chart, next take profit level as 1.0818 (M5 chart MaksiGen indicator's lines), next take profit as 1.0791 and 1.0739 (MaksiGen indicator's support/resistance lines on H4 Ichimoku chart.
Now price is near to be 1.0836.
And 1.0821 is just few pips away ...
So I am not sure that I will trade today ...
If the price will continue uptrend so there are some possible take profit levels and stop loss levels as the lines of MaksiGen indicators on M5 or H4 timeframes, or as the borders of the cloud on H4 timeframe.
Never trade without stop loss.
Because trading breakout is very very difficult and risky., More difficult that normal signal sistem to trade.