XO_Method REVISED - page 86
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This mornings (US) entry EUR/USD
Hey everyone I thought I'd post this entry off of the EUR/USD. I think there's a few people hanging around here with interest in that pair so here it is.
In the end it ended up working out, but my entry is not by my own rules that I try fairly hard to stick to but things were looking too good to pass up. At the 08:25 candle CCi was looking like we were about to head down, but it had become quite flat and I wanted to see it turn down before I got in. The RSI M30 had just crossed down as well as the WPR a few candles prior.
That WPR with the ma overlay is really growing on me especially when it has a nice clean break through as was visible by the 08:20 candle. Regardless the 15 WPR was confirming a short trade as well as the last indicator the M5 RSI.
In at 08:30 @ 1.3873
Update:
Just took half out at 1.3763 for +110
Just took the rest out at 1.3753 for +120. Im not waiting for a close above the 8MA when I can walk away with 100+ for a few min. work
.
Hope everyone has (had) a great day!!
Ace
EU Trade
Nice trade Ace! I also took the same trade. I did take the entry signal one candle before your entry and before it started the big move down. Here was my reasoning for the earlier entry:
1. Price had been bobbing around so direction was hard to pinpoint but at the 7:20 EST candle, price had made a slightly lower low than the previous low at 3:30 AM EST. As well, the price made a lower high at 8:00 AM EST versus the previous high at 5:40 AM EST. This was a confirmation that the direction was short.
2. As you mentioned, the CCIs were in good position for a short.
3. I still look at the previous RSI setup and the 5 minute RSI was short and the 1 Hour RSI was short. The 4 hour RSI was set to cross to short very soon.
4. The last reason was perhaps a little risky but I think it had a reasonably high probability and it was that at 8:30 AM EST, Trichet was speaking and he's generally a market mover. I think there was pretty good odds what he was going to say, inflation pressures are easing and that growth is slowing. Inflation pressures had eased as oil and other commodity prices have sunk and the slowing growth has been talked about in every form of media every day for a while now.
Because of reason #4, I put a tight 10 pip stop on my entry as it was either going to drop like a stone or not, depending upon how the market interprets Trichet's comments.
Just food for thought.
Hey everyone I thought I'd post this entry off of the EUR/USD. I think there's a few people hanging around here with interest in that pair so here it is.
In at 08:30 @ 1.3873
Update:
Just took half out at 1.3763 for +110
Just took the rest out at 1.3753 for +120. I'm not waiting for a close above the 8-EMA when I can walk away with 100+ for a few min. work
.
Excellent work, ACE; excellent. Quite correctly stated, you could have taken the trade one candle prior to your entry, but who complains with +120 pip trade anyway?
I also do NOT always use the 8-EMA to close my trades for the very same reason as yours. I will some time point those out once everyone is "up to speed" with the method.
Hope everyone has (had) a great day!! Absolutely and I hope EVERYONE did.
AceLooking forward to Posts from the other guys as well.
Best wishes.
Nice trade Ace! I also took the same trade. I did take the entry signal one candle before your entry and before it started the big move down. Here was my reasoning for the earlier entry:
1. Price had been bobbing around so direction was hard to pinpoint but at the 7:20 EST candle, price had made a slightly lower low than the previous low at 3:30 AM EST. As well, the price made a lower high at 8:00 AM EST versus the previous high at 5:40 AM EST. This was a confirmation that the direction was short.
2. As you mentioned, the CCIs were in good position for a short.
3. I still look at the previous RSI setup and the 5 minute RSI was short and the 1 Hour RSI was short. The 4 hour RSI was set to cross to short very soon.
4. The last reason was perhaps a little risky but I think it had a reasonably high probability and it was that at 8:30 AM EST, Trichet was speaking and he's generally a market mover. I think there was pretty good odds what he was going to say, inflation pressures are easing and that growth is slowing. Inflation pressures had eased as oil and other commodity prices have sunk and the slowing growth has been talked about in every form of media every day for a while now.
Because of reason #4, I put a tight 10 pip stop on my entry as it was either going to drop like a stone or not, depending upon how the market interprets Trichet's comments.
Just food for thought.My sentiments precisely, Rig. Also, excellent work on your behalf. I am so fortunate to have such bright guys around. Let us see if we can fine tune this method even more.
I like your reasoning regarding #4 (Trichet); something I have NOT considered and now will pay more attention to.
Looking forward to your contributions.
Best wishes.
See how long it takes now..........
Only reason for posting this, is to see how long it takes before my Posts are displayed.
Me.
Only reason for posting this, is to see how long it takes before my Posts are displayed. Me.
OK, it took 34 minutes to load, but ND managed to get it sorted out for now. This anti-spam is necessary, but it should not frustrate us either. Let us just be a little patient until they get this sorted.
Enjoy the day with NFP looming larger than life.
This morning's entry..................
Sorry guys, I could not get in earlier this morning, but although late, here is the entry as I took it this morning.
The entry signal (Large Yellow Star) was given @ 06h00..(my chart is GMT), but the CCi-5 was not through the zero-line yet and seeing that we had a substantial long during the Asian session, it was better to wait for confirmation. (See the confirmation in the Magenta Arrow 2 candles after the MAIN Signal??)
The confirmation came @ 06h15 BUT both CCi-5 overheated - that is the CCi-5 on M5 and M15. No trade!!
Now watch as the CCi-15 dives under the ZERO-line of the MTF_CCi-15 (on M15 chart) and the trade was on. I waited for one more candle
for further confirmation and entered on the Doji marked with RED hollow Arrow @ 06h40 for a +58 pip trade
Comments please. Any EUR/USD trades this morning?
Best wishes.
hi valeo
if you are not an insider of the method its not easy to get it right on the screen.
Can you put the new template please.
thanks
regards
lodolHi there,
Sorry for this late reply, but as you can see I had problems getting to Post anything yesterday.
There is no such a thing as being an "insider", but the guys that are testing the latest improvements, have been with me for a long time. They "keep me honest" so to speak and if they say no, it is rubbish, then we will not release it. So far so good and I am particularly impressed with what I am Banking!!
So, just bear with us a little while longer and you can have the "approved" Template, etc.
Let me know who you are and your experience in FX via PM, please.
Best wishes.
If you don;t want to post, will someone please send me the latest template and indicators for this awesome system please
a download link. I will keep it private..please!
BrianOY Brian, you are expecting me to react within 6 hours of you posting and when I did not, you say......................."If you don't want to Post, etc.......................
I am a full time Forex Trader in the first place and that takes priority and when the markets run, I seldom get onto the Forum. So please show a little patience.
Also, would you mind reading #Post 860 above and do the same for me??
Hope you are having a better day today.
Best wishes always anyway.
CCi-setup explained on M5
From this screen-print you can see how I read the CCi-set-up.
I have explained the entry this morning; however here are just the CCi-signals for the M5 entry this morning.
The first window below the candles, is the CCi-5 in White (I just blanked out the rest of the indicator, hence the blacked-out areas) When the CCi-5 overheats, you see the little "white caps" on top of the candles for ease of recognition. I don't think this needs further explanation.
I then run a MTF version of the DoublecciWoody set @ 5/15 on M-15 TF in the 2nd window.
And added a normal CCi-5 over it to confirm what you see in the first window. This CCi-5 is Magenta in colour.
Check the vertical lines for entries.
The 3 Aqua Arrows pointing down @ 06h15 is the first signal (remember taht there are 3 x 5m candles in M15, hence the 3 Arrows); but the first Arrow is the signal, by the last Arrow of the 3 I guess it might be too late to enter? especially in a running away market??
Note the RED ARROWS? Those indicated when the CCi-15 on the M-15 TF, crossed the zero-line marked in RED vertical Line at 06h30 for final confirmation.
ENTRY on the Doji for the short, smack in the middle of the RED-signal.
What more could you ask for?
I like to thank the genius FXBS for the MTF_Alerts.
And all you guys who are supporting this Thread.
Best wishes.