Mike Wolf Method - page 2

[spielbergsp]

fxrulez:
G'day spielbergsp,

Was just having a look at your system. I am now able to recognize when a correct signal comes up. However there has been another kind that i have noticed and decided to ask you about it.

Image 1:

Shows us a typical entry signal for a long, which if i check back to your notes confirms it

Image 2:

Shows us something slightly different. We get a fractal on the 1st candle, a dot on the next followed by an up arrow on the next...Does this constitute a valid entry signal or not? I ask this because the market moved up almost 100+ pips in that move which was just today by the way..

Thanks for the clarification..

Fxrulez

Yes, I would trust that kinda signal too. We've got MAs moving up, and all of the indicators confirming it even if it took them 2 candles to do so.

[spielbergsp]

P.S. Sorry for the late reply, I had some travelling to do and never really took time to take a look at the forums while I was gone from home.

[spielbergsp]

I would not however trust something like this:

When the price bounced and a fractal symbol appeared, red indicator dots were above the price for 2 more candles, then the buy signals appeared. This is a weak signal and I wouldn't go for it.

In case of fxrulez the indicators started to turn around on the next candle showing a long signal. Still, an ideal signal should be like the one shown in the first post. Bounce, fractal, dot and arrow on the next candle. Once we see that with MAs confirming it - it is a strong signal.

[Vlad Vahnovanu]

Thanks for sharing it,I will check it out for sure!

[spielbergsp]

So I've left my trading post for almost a month, I had some travelling to do. And it seems to me that the system doesn't really work too well after I got back, I don't see as much consistency in its signals as before. I never got a good signal for quite a while. Is everybody getting the same results or am I missing something in my own system?

[fxrulez]

Thanks for your reply, no i haven't yet demo'ed the indicator yet. Ive been testing some other systems in the meanwhile waiting for your reply.

Ill see if i can do some testing next week.