Simbasystem-gbpusd - page 22

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thanks Kneepad. We shall all work as a team.

 

Guys..i think Simba said that you don't take any signals on the 5m as long as it doesn't agree with the chan chandlier on the 1H so these buys that you're seeing right now on your charts are not valid signals (you'll be naked with out stops caz you'll be on the opposite side of the chandlier)if i'm getting it right..

so i took the buy signal@ 1.9694 and exit @ 1.9663 with a 31 pips loss and we should be out of the market now waiting for one of the chandlier or the MTF XPMA to change there colour and start looking again for entry points by the %R..please correct me if i'm wrong Simba..see ya all in a few hours

 

I think you've got it right cementman, when I bought

in I could not see the red chandelier and then DXX

pointed it out. I'm hoping for a bounce of the Pivot

to get out at a better price.

 

The Pivot also lines up with the 38.2 Fib retracement from 1.9433 low

to the1.9747 high. If we get the bounce we could be back onto

the uptrend.

 

Kneepad..that's also what i was gonna say if i was still working by the first rules i'd take the second signal that you'll see in the attached chart..it's more logic since it's the first one was a little bit away from the pivot.

Files:
gbp_20.6.jpg  154 kb
 

For people having trouble with Chandelier, read more about the indicator. As soon as a bar (1h in this case) CLOSES below(for blue) or above(for red) the stop line, the Chandelier will reverse (ie. go from blue to red or vice versa).

 

Cementman, that certainly would have been a better

entry, assuming of course that you knew you were

going to get a second signal

Zathar, thank you for that piece of info re: the closing

bar, had I known that, I wouldn't have needed to spot the

microscopic red dot in the top right hand corner.

Great that we can all contribute or the benefit of us all.

Big thank you to Simba for his good work and patience.

 

dxx

dxx:
Kneepad the red chandilier is pretty high up on the 1hr chart, around the price of 1.9765.

I exited when the new candle had formed under the stop line is this correct please.

dh

Absolutely,this the right way to do so.

Well done

Simba

 

zathar

zathar:
For people having trouble with Chandelier, read more about the indicator. As soon as a bar (1h in this case) CLOSES below(for blue) or above(for red) the stop line, the Chandelier will reverse (ie. go from blue to red or vice versa).

Exactly,

If you have taken time to read and inform yourself about the Chandelier stop,I congratulate you.

You might have discovered one of the best indicators ever.

You can design a system based exclusively on the Chandelier stop.

Well done zathar

Simba

 

cheers simba. thanks for sharing your knowledge by the way

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