XO_Method REVISED - page 45
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Question:
I got out of trade this morning about 10 minutes before news for a 20 pips profit. However, to an extent I feel I was (very) lucky because at least 3 minutes before the news there was a reversal in opposite direction which took out the 28EMA before closing above the 8EMA and the 15EMA (on the news announcement.
I already felt I exited prematurely in this trade, but it was in fact a good exit because the news was coming out. But what is the discretion around the news. Is it best to close out before the 5 minute candle that close at the same time as the news is announced. Or before then, or after?
I got out of trade this morning about 10 minutes before news for a 20 pips profit. However, to an extent I feel I was (very) lucky because at least 3 minutes before the news there was a reversal in opposite direction which took out the 28EMA before closing above the 8EMA and the 15EMA (on the news announcement. I already felt I exited prematurely in this trade, but it was in fact a good exit because the news was coming out. But what is the discretion around the news. Is it best to close out before the 5 minute candle that close at the same time as the news is announced. Or before then, or after?
Personally, I close the trade before the announcement as I have been burned by unscrupulous Deal Station management where they simply informed me that the "price gapped over your stop"
As far as your trade is concerned, I will post my entry this morning just below for your comments.
Best wishes.
This morning's entry..................
At 8h10 on my chart marked with a Yellow Arrow, was the first entry for a short. I did NOT trade that short based on the fact that I felt the RSi-2 was too low. However, it was good for +20 pips at least if you were prepared to be taken negative for -12 pips after 15m in the trade.
The next entry-"signal" was generated at the announcement and the CCi-5 overheating at the same time as the RSi-2. Perfect opportunity to short the trade!! Signal for my short was taken @ 10h40 when the CCi-5 hit the zero-line; the RSi set-up on M5 indicated and most importantly, the RSi-2 broke the RSi-4 on the H4 set-up in the bottom window of my frame. That over-rules the H1 set-up that was not ready yet, as the H4 clearly showed the bias for a short before the announcement anyway.
About the last retrace @ 11h35..................again the RSi-2 was way overheated and the CCi-5 nearly. So you stay in and just obey the 15-EMA to maximise your profits. In my case +101.
Any comment and/or question will be appreciated.
Best wishes.
Here is the updated PDF file of the new method from ValeoFX. It is now 22 pages long and includes all the instructional and trade examples, PLUS a private commentary on a trade ValeoFX gave me based on some questions I asked, not available on this thread...enjoy! Will be updated with todays post also since I just noticed it has come in...
Thanks Suk and Valeo, will check this out.
This morning's signals..................
Unfortunately my charts shut down this morning and therefore my H4 and H1 signals @ 07h15 are NOT the original entry signals, but nevertheless were confirmed correct by a trader near me.
If you were trading by 07h00, you could have entered Long @ 07h15 close @ 1.9469 and if you sat it out, could have banked @ 1.9487 when the RSi and the CCi-15 completely overheated for +18 pips or if you were not sure of the exit, another opportunity presented itself @ 08h20 for at least +8 (so you would not have fried).
My entry was at 09h20 close @ 1.9471 and exited @ 09h45 @ 1.9488 for +17 after being +30 briefly. Exit was relatively simple based on the fact that the H1-chart showed overheating and still not breaking the crucial 100-EMA in spite of "bouncing off" the RSi-8 in the previous candle.
I am amazed at the no-responses that I am getting here. Either you guys are "cruising" this method or nobody trades it.
Best wishes with whatever method it is that you are trading anyway.
hello
valeo we need time to understand it i ve finished right now to read all the thread about xo method from the start woodies indicator its not so easy
but you are the only one which explain with charts how to trade it
https://www.mql5.com/en/forum/173249 give a look here 36O648 rar asc trend i minute
please add more chart examples i will follow your method for one year i promise
valeo we need time to understand it i ve finished right now to read all the thread about xo method from the start woodies indicator its not so easy
but you are the only one which explain with charts how to trade it
https://www.mql5.com/en/forum/173249 give a look here 36O648 rar asc trend i minute
please add more chart examples i will follow your method for one year i promiseThanks Rod, but I already feel as if I am hogging the Thread. I will continue to place both M5 and H1 chart entries, but if nobody responds, then it feels as if I am doing it for myself. We are continously developing this method with the help of my friends and I will endeavour to keep you abreast of things.
Best wishes.
Dear Valeo, Sorry for non responses, i got whealthy problems
Wealth or Health my friend?
Now that Christine has bowed out of Tennis, we don't need another Belgiun to quit.
First of all a big thank you for sharing your thoughts and methods with us all.
I am kind of new to FX but have been looking at charts and systems for about 6 or 7 years now.
The MTF XO indicator has me interested and the williams %r has always been a favorite of mine, so this system just might be made for me
The problem I have now is where I start .. After reading though a few hundred posts I am now a little confused. Some of the indicators, templates and methods seem to have evolved from the second post.
My main problem is, what is the latest version ? and where do I find the indicators, templates and latest thinking on how to use them ?
I see mentioned that post 2 has them .. but there are no files with that post.
Wealth or Health my friend?
Typo error SORRY
You know, every day all the pips wins are a victory, but the most important is life and a good health