XO_Method REVISED - page 37
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8 point stop - and another 40 points --- unbelievable
Here is the trade I am managing ---again the decreasing volume on sell candles along with the FXGauge info PLUS the higher base that I mentioned helped me with this one.Also, I'm "long" from research.
In addition, the "Turbo CCI" had a "wander" to the south without taking the CCI. I entered on the turn of the Turbo CCI back towards CCI. This is not a Woodies pattern I think...but it is useful and I've used it several times...
Flat momentum plus a successful day so far meant I could set an extremely tight stop (8 pips)...based on the fact I'm trading the support that shows on the FXGauge...
Current state of play (I'm OUT on CCI overheat -it's actually a divergence also plus a hook from extremes) and stochastic and great satisfaction with the days trading) --- but watching the volume carefully...
I'm not going to keep doing this, just want to verify that "it" - ValeoFX system - works and may be worth looking in to suggestion (RE volume) and I'm sure that the new setup is going to work even better.
Case in point --- another 50 pips...
Instead of MAs I added the FXGuage which shows MAs and Fibonacci across 4 timeframes. It's not a perfect indicator but may be worth a look. It showed "clear roads ahead" which also got me in...
Again, I want to point out the formation of two consequetively higher bases with a breakout above resistance. You can see my trade below (green dotted), a little later than you most likely but for me I could not find enough momentum to buy back to the MA in the centre...
I think that rising volume as a clue is worth checking out - what do you think, Valeo?
(exit)
Granted it's been a great day, Joe, for trading. and I've had either breakthroughs or a lot of luck. I'm not so confident as I have sounded since the premature exit. Currently reading the 5M sheet.
Here it is again.
ValeoFX, I have put the weekly, 8 hourly, 4 hourly, 1 hourly and finally the 5 minute chart in to a pdf document including the illustrations for members of this forum who are following this thread to save time. I have yet to study further the 5 minute chart. Currently still managing trades.
Rgdz
suk1000kYou are not just a star, but a Quality Star at that!!!!!!!!!!! Much appreciate what you are doing here for us.
Best wishes.
Granted it's been a great day, Joe, for trading. and I've had either breakthroughs or a lot of luck. I'm not so confident as I have sounded since the premature exit. Currently reading the 5M sheet. Here it is again.
Yeah this is great day.
And this morning, i said to myself :dah that's gonna be a sad london session !
My entry this morning.........
I am giving you my last trade entry here and will try to give you the first 2 just after this, just bear with me, please.
I wish to point out to you not only the entry, but check out the price in relation to the 8-EMA. The point I made in describing how I trade it is quite evident when you look at the candle @ 08h30 EST (NB).
What happened here is precisely why I mentioned that you should only close the trade when the price closes above/below the EMAs. As the EMA-8 moved closer to the EMA-15, there was no reason to panic, so you use the EMA-15 as your base and if it continuous to close the gap, one may switch to the EMA-28 depending on the longer charts.
At this point here the price put its foot out, but pulled it back to continue the trade.
You should still be in the trade unless the Longer charts (H1 and H4) tell you differently. (In this instance I closed my trade for +118 as I "read" that the trade has "run-out").
Best wishes,
The first chart was very difficult for me because the CCI became overheated. I got in on the second base though for 40 pips as desribed above when the Turbo went AWOL then turned back towards CCI. I can see what you're saying about the close beneath the EMA not being there. How did you feel about the overheated CCI? Or are you manning the stops based on the EMA's regardless?
The first chart was very difficult for me because the CCI became overheated. I got in on the second base though for 40 pips as desribed above when the Turbo went AWOL then turned back towards CCI. I can see what you're saying about the close beneath the EMA not being there. How did you feel about the overheated CCI? Or are you manning the stops based on the EMA's regardless?
Suk, I did not have an overheating CCI-5 on my entries. I stick to my rules as far as the CCI-5 is concerned. You will see that I mentioned it again in my Post regarding the M5-Trading earlier today.
On the 5 minute chart, windows 4,5 (1 and 4 hourly RSIs) the colors seem to be reversed.
On the 1 hourly chart and 4 hourly chart themselves, RSI 4 is green, 2 is red. Seems to be reversed for 5 minute chart...
Otherwise it looks amazing...
I will be keeping basic charts open without indicators (apart from MACD, Keltner Channels) so I don't miss the obvious
RE 10:30 short. 4 hourly RSI was not in alignment.Wouldn't that also make 9:10 also a short? There's possibilities there for sure by the looks, but to me it seems like playing with fire a little with the CCI in long mode an gently coming back from a 165 retrace...from recent activity it seems as though 1 hour chart RSI being in place is more important when it comes to intraday trades and getting in and out of market pretty quickly eg 8-20 points. Please keep sharing your thoughts, ValeoFX, it is unbelievably helpful...
Also if you can explain thinking through from weekly to 5 minutes for an example trade or two it would help put the whole thing together as a complete system. Many, many thanks to you.
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.
Short above the moving averages !
NO WAY !