XO_Method REVISED - page 78

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ValeoFX:
Hi Joe,

Unless I am totally confused as to the settings for different TFs, this indicator lags seriously. I would hate to use it as an entry / exit indicator UNLESS I am missing out on something here.

I changed the settings down to try and get it to "fit" without any success. Maybe we can get Mladen to give us an idea as to what it is that the originator (Lee Leibfarth) set out to achieve.

Mladen, if you see this request, would you mind telling us more about the thought processes behind the development of this indicator. You always do outstanding work and this is no exception, but the fact that I cannot get it to "fit" concerns me.

Best wishes.

Hey Valeo, don't focus on 1 day

EDIT :

Here is the original link : https://www.mql5.com/en/forum/177239/page8

 

This morning's entry.............

Attached is this morning's entry @ 08h50 as I waited for the price to break the 34-EMA.

Note that the entry could have been taken @ 08h40 as the RSis were lined up for the short and the CCi-5 just about breaking the zero-line. This is an "aggressive" entry and nothing wrong with it.

Follow the 8-EMA-rule and forget about overheating candles. (+55 now)

Success to day and always.

Files:
this_mornings_entry.gif  34 kb
 

H1 set-up this morning.............

Please note that the 04h00 candle had a spike down to the MS1-Pivot level @ 1.9738 before retracting to close @ 1.9752. More importantly, the RSi-2 closed below the RSi-4, BUT the H4-RSi setup was not on yet. Therefore from the close of the next candle @ 06h00, the trade was short.

At 07h00 the H1-chart's CCi-5 overheats and the price stalls for an hour with an upside-down Hammer and the RSis keeps on dropping. The XO turned RED at the overheating candle and we are looking to go SHORT on the M5 and M15 candles.

Entry was @ 08h00 @ 1.9735.

Files:
h1_setup_this_morning.gif  33 kb
 

M5 entry this morning.............

The importance of NOT hesitating is clearly illustrated in this morning's entry @ 08h00 @ 1.9735 for some 30 pips before retracement.

With 2nd entry @ 09h45 @ 1.9710 for another +18 pips. Exit due to overheating M15 and H2 CCi-5s.

Best wishes for the week to come.

Files:
this_mornings_entry_1.gif  33 kb
 

Daily chart.........

Much like the WEEKLY-chart above, the Daily needs some attention as well:

Firstly, notice 21 July marked with vertical line how the price rallied back from the previous day's short. The CCI-5 did NOT break the zero-line and we have a perfect ZLR.

28th July same thing happened, but notice how the RSis behaved - they were making LOWER HIGHs (marked with Blue-triangles)

It was no easy ride, but then FX is no easy ride!! BUT the overall TREND was SHORT.

This morning the price has reached the 127% Fib level which in itself is significant. I will ask Alan Oliver who is an expert in Fibonacci, what his take is on this picture and with his permission, post his reply.

Now the picture is pretty exhausted and I for one am keen to learn how people like Richard Morrish (see my post above) can forecast the next targets.

I just follow my charts, but it would be nice if I "knew" where I may end up.

Best wishes.

Files:
daily_8_aug_2008.gif  34 kb
 

Hi yaahhh gentlemens

It's time for me to take some hollidays. I go 4 weeks in Miami.

From time to time i will read the forum.

Have all great time and much success

CHEERS,

Albert

 
Big Joe:
Hi yaahhh gentlemens

It's time for me to take some hollidays. I go 4 weeks in Miami.

From time to time i will read the forum.

Have all great time and much success

CHEERS,

Albert

Wishing you and your family a wonderful trip, Joe. We will miss you, but we understand that you need a break. Enjoy.

Best wishes.

 

This morning's M5 entries..............

My first reaction this morning was one of bitter disappointment and therefore I did not trade the first entry @ 08h50. I wanted the trade to first break the Low it made @ 05h30 and it did just that @ 09h25.

I waited for the retrace and entered when the Diamond showed itself @ 10h15. I closed my trade on the Doji @ 12h00 (+66 pips), not bad in an exhausted market, I guess.

Why did I not wait for the Low to be broken again? It was already taken out and all I needed was for the direction to change as it did not break the Pivot NOR the 60-EMA. It was a slow trade and when the price overheated the CCi-5 @ 11h25, one could have been forgiven for closing the trade, but then you would not have followed the 8-EMA exit rule.

Best wishes.

Files:
this_mornings_entry_2.gif  34 kb
 

Diamon?

Valeo - what is the diamond that you refer to? I did not get that in the download. Could you post that?

Thank you

 
jfchild:
Valeo - what is the diamond that you refer to? I did not get that in the download. Could you post that? Thank you

The "Diamond" is in a "Beta"-testing phase for people that trade this method successfully. It has therefore not been posted YET.

Trust you understand.

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