Not yet. I'd want to see the short-term bullish momentum extinguished first (by the lower trendline being broken).
If you are aggressive you could take the channel failure when/if it happens though.
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Disliked{quote} {image} Not yet. I'd want to see the short-term bullish momentum extinguished first (by the lower trendline being broken). If you are aggressive you could take the channel failure when/if it happens though.Ignored
Disliked{quote} In addition to using the wrong Moving Average, you were fighting against bearish momentum as per below chart. {image}Ignored
Disliked{image} Long entry on SPX. Entered when speed line (green) was broken as price was being supported by trendline (white). Exited when price spiked in my favour.Ignored
DislikedGood morning, don't you trade on a Monday morning? The GBP/USD GBP/JPY GBP/CAD shorts and the long EUR/GBP on M5 ?? Were they not valid?Ignored
DislikedHi Laura, I've been trying your system out and while its probably not for me, I did notice that the 2 RSI indicators were a bit of a performance lag on my system so I've tweaked the composite RSI and have written my own trendstrength version. I've opened up a few more input options on both as well, including a configurable refresh period for the trendstrength indi. They are both much less cpu intensive now. {file} {file}Ignored
Disliked{image} Shorted this but it was pretty aggressive entry as price was still rising. I advise you to wait for confirmation of bullish momentum being done. However, main reason I wanted to show this trade was as a reminder about drawing speed lines. You'll notice I originally drew the green line marked 1 and, as the decline accelerated, I was able to add a steeper speed line marked 2. I exited when my speed line was broken.Ignored
Disliked{quote} I imagine where your entry was would have been ignored by a cautious or inexperienced trader. A line drawn under the lows would have been broken later -some bars after your entry to validate a short ?Ignored
DislikedHi Laura, I've been trying your system out and while its probably not for me, I did notice that the 2 RSI indicators were a bit of a performance lag on my system so I've tweaked the composite RSI and have written my own trendstrength version. I've opened up a few more input options on both as well, including a configurable refresh period for the trendstrength indi. They are both much less cpu intensive now. {file} {file}Ignored