Asi trendline strategy! - page 5
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Closed last trade, and no new ones so far.
looks like you made some pips on the last trade (usd/chf)!!
I didnt take any trades last night, was paying too much attention on renko bars but made 40pips there,, anyways I am going to be looking at the daily and weekly charts with this asi trendline system. i wana make a 100pip trade and I believe it can easily be done an a daily chart!! will post trades when I make it, also I'm doing allot of reading on pitchfork, very interesting, it looks like i was using them more as channels and there are different ways to use them, but i'm not sure how to use it in this strategy yet. if anyone is interested, i found a free pdf book on pitchforks, just let me know and i will post
FROM: Kinjaheed
Yeah that pdf would be great to read. looking forward to seeing your daily trade. If I take a trade on daily or weekly chart I will post.
pdf would be great
hey James, I tried to post it but the upload failed, so just check out this website, there is more than just one pdf that is free to download, very indepth analysis on pithcfork trading: PitchforkTrader:Articles
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I have been using pitchforks as the same way as I would channels, take a look as this video: YouTube - How I enter a trade with the five swing Pitch Fork and you will see a very different way, although I am not sure this can be used with the asi trendline strategy, but deffinately worth a look
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also I stayed up waiting for this eur/usd trade I just made and in the zip I posted a few pics. You will notice two screen shots of the eur/usd 4hr chart. It helps to have 2different broker's charts open at the same time and you will see why (not a bad thing, just noteworthy)
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and finally I entered a demo trade on the eur/gbp daily, there was a bounce off the asi TL on the 4hr chart (i got in late), but the trade looks good for at least 30pips i hope
I have not used Andrews Pitch Fork at all, but it will be interesting to see how I can make use of it. I am used to drawing the channels myself. It has forced me to see channels in a new way though which makes it a lot easier to spot good trades.
EU short latest trade btw
Here is my view of Euro Gbp on the Daily chart. It looks to me like any move downward will be broken up pretty fast on various levels. But you are trading on Weekly chart, so you will be holding on to that trade for a few months making daily chart pretty useless except for major levels.
Interesting chart anyway. I hope some people can take a look at it and share what they think. Negative criticism welcome.
But you are trading on Weekly chart, so you will be holding on to that trade for a few months making daily chart pretty useless except for major levels.
Ya you're right about that. I have to remember to wait for that second bounce off the asi to make sure the trend is confirmed. And that bounce has to be on the chart I'm trading on and looking at. With that one, what happened was I saw that bounce off the asi on the 4hr chart, and then assumed a bounce would occur on the daily,, it still went about 30-40 pips, but i didnt close it out and im still holding on to it, possible for a few months like you said, thankfully its a demo!
I'm trying different things with this strategy, even though it's already great, I'm always trying to improve... In the original accumulative swing index strategy, entries were made when the asi made a higher high or lower low using horizontal s/r instead of diagonal. So one idea that looks good on visual backtest is apply 20period bollinger bands to the ASI indicator window to determine overbought oversold, enter only when asi makes higher high/ lower low and also crosses the middle line of the bands, just an idea anyways, and another way to look at the chart to quickly identify possible trade setups.........
On the eur/usd trade i took late yesterday, I captured 64pips!!
I took a light look on bolinger bands on ASI. Looked like there was potential but I did not find anything which I could no get through trend lines. I always wanted to test with divergence though but always hesitated to make a trade based on it. The middle bolinger band on 2 timeframes on ASI lookes promising though, and does look like it could be a good confirmation that follows the trend.
What is your Daily EU analysis Kinja? I overlooked a channel, but I dont think it will hold since its bouncing from 1.4250.
What is your Daily EU analysis Kinja? I overlooked a channel, but I dont think it will hold since its bouncing from 1.4250.
here i post a daily chart of EU. Kinda of a tricky one if you ask me. From the looks of it I think its going down to at least 1.4040 before it finds support.
Sounds like a good correction that people would see from EU too. Im already short like 80 pips. So that is always good. At least I can break even with ease.