Kolachi Method of Trading - page 50
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Hi,
I was reading through your KM2 again and realized that i have been trading wrongly maybe i misunderstood. This is what i have been doing. I have been using your KM to trade using KM2 template that is when wma5 changes its slope, ignoring the proper order of (5,21,100,200), on the next closed candle, enter trade on the (72,116.5,188.5 levels on the 200emas). However you stated that
"Signals:When wma5 changes its slope beyond a median fibo line and returns for pull back, place entry.When wma5 changes slope beyond the median fibo line exit from trade."
"Comments:
1)Median fibo lines are average of two fibo numbers.
2)Axis of the system and median fibo lines is 200 ema."
I am pretty confused here. Do you mean that if wma5 changes its slope on these (72,116.5,188.5) levels, then i take the trade according to the direction of the slope? What exactly do you mean by median fibo lines? Could you input some charts so that i can understand your method perfectly?
Sorry if this question seem too retard for you. Would really like to get this off my chest.
Hi,
I love Kolachi Method since the first time I read the setting and I just knew this is a great system. I look at so much pictures of Kolachi Method to learn until it looks like jumping and diving Dolphin of WMA5.
I'd prefer to make positions at Repulsion of WMA5-EMA21 in properly order because EMA's can be the Support/Resistance, where we should give Stop Loss? Is that EMA200 as the axis?..since the EMA55 was the strong Support/Resistance in Kolachi system while the EMA100 usually used to Take Profit.
When the Kolachi Dispersion is in act or Repulsion of WMA5-EMA21 at properly order, what's the best Target Point of Kolachi Method in case we have to go offline? Is it the Median Fibo Lines?
Thanks!
HI,
Median fibo lines are the average of two consecutive fibonacci numbers. For example 72 is average of 55 and 89. A line drawn through 72 is called a median line.
In KM2, we place a trade when wma5 changes slope on any of the median lines like 72, 116.5, 188.5 etc. We place trade in direction of slope of wma5 and our target is either axis or the slope change on other side of the axis near first or any other median line.
The cyan lines on the attached chart show possible entry points with axis as first target.
kolachi
Hi,
We can use median lines or previous swing high or low as our possible target.
kolachi
Hi, I love Kolachi Method since the first time I read the setting and I just knew this is a great system. I look at so much pictures of Kolachi Method to learn until it looks like jumping and diving Dolphin of WMA5. I'd prefer to make positions at Repulsion of WMA5-EMA21 in properly order because EMA's can be the Support/Resistance, where we should give Stop Loss? Is that EMA200 as the axis?..since the EMA55 was the strong Support/Resistance in Kolachi system while the EMA100 usually used to Take Profit. When the Kolachi Dispersion is in act or Repulsion of WMA5-EMA21 at properly order, what's the best Target Point of Kolachi Method in case we have to go offline? Is it the Median Fibo Lines? Thanks!
Weekly Performance
Month: July, 2008
Week: 16-23rd day
Equity Change: +5.71%
Pips Pefromance: +170
kolachi
Thanks for the reply. Its crystal clear now =)
Hi Kolachi,I am a newbie to the Kolachi system, and I have been using it for about a week! WOW!! It sure looks good!One question please. What are your thoughts on the daily pivot points? I watch the daily pivot points for support and resistance and was wondering... do you consider the daily pivot points, or do you just use the ema (55, 100 200) and fib levels for support and resistance?ThanksPapaJoe
Hi papa,
It is glad to know that you are using KM and happy with it. Regarding pivot points, I know that they work well and many traders do use them. However, I do not use them because KM does not specifically mention them. I try to trade within limits of Kolachi Methods.
kolachi
Hi Kolachi,I am a newbie to the Kolachi system, and I have been using it for about a week! WOW!! It sure looks good!One question please. What are your thoughts on the daily pivot points? I watch the daily pivot points for support and resistance and was wondering... do you consider the daily pivot points, or do you just use the ema (55, 100 200) and fib levels for support and resistance?ThanksPapaJoe
Hi All,
Following is the chart of trades for thu and friday so far with result: +72 pips
Few pips from swissy are also included in the count but chart is not posted.
kolachi
The system is great if we follow it strictly ...