Thanks Beejay,I was asking for the purpose of scalping on the M1 if the settings were OK.But,I have looked at the M15,M30 and the H1 tfs.Also,another thing I noticed is that on the Double CCI 34-55 indicator,that shows both in the same window,when the 34 &55 lines cross over the 67 &-67 levels the entries are stronger.And the RSI 26 with the levels of 55 & 45 also work real nice when the RSI line crosses them up or down.I also have a 30 EMA HI & LOW channel on my charts,so when price closes outside of the channel and the CCI/RSI show the signals by crossing their levels that is the entry.A 50 & 200 sma for trend direction.Maybe you already know this but what do you think of these levels.GOD BLESS.......SJ
Hi BEEJAY and all other great members,
I have been testing this system for quite some time, it does work very well most of the time. However, there were occasions that I didn't manage the system very well. Those time were when the trend wasn't very strong. For example, just when all the conditios were met and I entered a trade, then the candle I entered was about the top/bottom already, then price retraced or when it pulled back again later, it never was able to break through that entry candle high/low.....sorry for my expression, I hope you guys get what I mean.
So may I seek some good advice from you guys? What should I do to improve my trading with this great system? Thank you all once again for this wonderful systems and all contribution.
There is a possible set-up happening on the Weekly TF on Eur/Usd. Thinking about entering with 1% risk (drawdowns on weekly....) at the close of the weekly bar. Approx 26 hours from this post and nearing a psych number "1.3800" I imagine there will be more sellers ready to jump in at that level.
Curious to hear what everyone thinks.
This chart is based on original MA/CCI/RSI settings that Beejay introduced.
Lets see how this unfolds.
Hope that helps and GL
thank you very much, mr.pip
Thank you once again!
One question: Anybody was trying this strategy manual - for example in an oanda account ?
Some results for this ?
I don't want to stray away from this great method but may I suggest an possible way to find a good entry on the Eur/Usd mentioned by you above.. A look at the daily candles would suggest that a possible retracement may be about to take place because PA often comes up to touch the 8ema..anyway, it might be worth using the Vegas 4hr method to define a good entry point on the 4 hr charts...It can be viewed at the link here... http://cdn.forexfactory.com/attachme...4&d=1139844578
They use a 4 hr chart with a 55 SMA [(H + L)/2], and an 8 SMA [Close only].When the 8sma hooks back down in the direction of the weekly trend after a retracement it is time to enter.. A good way to define a 'hook', is to draw a line from the close of the candle 8 candles back to the close of the present candle.. As soon as the resulting trend line is pointing at 4 o' clock or so its an entry signal... I also just want to say that I am a rookie and I haven't really studied this method too much yet so I could be way off the mark here but I just thought this info might be helpful to some of you guys that are putting a bit of work into this.. I will be watching for this signal and will enter then...(on demo).. Anyway, Thanks Beejay for sharing your method... Good luck to all for the coming week...............................
on the Higher TF how do you set your sl it cant be 90pip right or is that 900pips? and if the market goes in you favor and you tp and get out how do you know when its a good time to get bake in
This is a good system. Cud you tell me what is the purpose of the CCI 34 when you have to wait for the slow CCI 55 to cross zero before pulling the entry trigger? It seems like redundant to me.
As per my previous post (below) the ideal entry to short the euro/usd using both Beejays method and vegas 4hr would have been at the close of the 4hr candle at 12 noon GMT today... It appears that maybe the retracement has occured and its on the way back down so I entered at 1.3914... I only have a 50 pip SL as I'm not over confident that the move up is finished and this may just be a retracement of that move so I gonna watch with care... Price currently at 1.3895 so only a few pips cushion at the moment.... If price reaches previous support at 3855 area I will consider getting out... I guess the question right now is...have we resumed the downtrend or is this just a retracement on an upward move... I'm going to bed so all will probably be revealed by the time I rise.........Good Luck to all........
Sorry I couldn't respond sooner. But work and then looking at charts takes time. But anyway.Interesing idea you have there with the Vegas... I base my entry on the following... anytime PA (Price Action) makes a new low, a retracement in the opposite direction occurs. Its usually to the nearest resistance (recently broken support) or a fibonacci level (in most cases both). This gives you an idea where you should watch to re-enter the current trend. And that is where i usually feel most comfortable entering. It helps stay out of situations where I enter at break and end up holding it because price retraced. Thats where it gets psychological.
Please don't use my posts as reasons to enter into live trades. (I'm still Demo trading)
That 4o'clock idea looks really interesting. I'll be sure to check it out.
BTW Should you have entered at the break of the 1.3800 level you would be sitting pretty on 73+ pips as of this writing. Or more if you had entered at the retracement of price to 50% Fib High to low (H4)(1.4190 to 1.3852) which is also the previously broken support with clear price turn around (resistance).
With 73 pips in the bank I would take half off the table. move stop to break even and let the rest ride it out and re-enter on the next retracement.
Wow this thread died a sudden death... It's amazing how many threads don't last in here...one day there's millions of posters and then kaboom..it's all over... Well I only vist one thread now so I just stopping by my old haunts (out of boredom) before I delete my subcription list as I have finally found my place here on FF... Good luck to any of you guys and gals that are left here........... .
Very good method to squeeze the market.
Hii brother I'm searching for the system which is simple in nature.. Finally i found this. But please explain about Stoploss and Target. Because I'm cinfused where to put. I generally trade 4hr timeframe.. Waiting for your reply
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