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  • #1,721
  • May 18, 2020 2:33am May 18, 2020 2:33am
Quoting josi
Is this a sell-entry in your opinion? {image}
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 57 KB


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.
  • #1,722
  • May 18, 2020 2:39am May 18, 2020 2:39am
Laura, with regard to the EMA8, can you help me understand why it is so significant. I respect the EMA8, but I have been unable to source the logic. Many thanks, Billy
  • #1,723
  • May 18, 2020 2:47am May 18, 2020 2:47am
Good 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?
  • #1,724
  • May 18, 2020 2:48am May 18, 2020 2:48am
Quoting LauraT
{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.
Yes, I saw the TL up but then two candles failed at SMA200 with longish wicks and all higher TFs are down.
I gues for you that isn't a trading opportunity at all because by the time it has reached the lower TL price won't go very far down, if at all.
  • #1,725
  • May 18, 2020 2:57am May 18, 2020 2:57am
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDM5.png Size: 50 KB


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.
  • #1,726
  • May 18, 2020 3:03am May 18, 2020 3:03am
Quoting LauraT
{quote} In addition to using the wrong Moving Average, you were fighting against bearish momentum as per below chart. {image}
Thanks for the correction
  • #1,727
  • May 18, 2020 3:15am May 18, 2020 3:15am
Quoting LauraT
{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.
Dear Laura,
How to draw speed line?
  • #1,728
  • May 18, 2020 3:20am May 18, 2020 3:20am
Quoting KevinZeng
{quote} Dear Laura, How to draw speed line?
Hi

It's the same as drawing a trendline. I call them speed lines as they measure the rate of acceleration once I'm in a trade.
  • #1,729
  • May 18, 2020 3:25am May 18, 2020 3:25am
Quoting Detto
Good 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?
man, I don't know when you started but how about M5 this morning:
long AUDUSD
short EURAUD, EURCAD, (EURNZD), (GBPAUD)
I don't see yours as trades as such - possible imminent TR?
But probably I am totally wrong.
  • #1,730
  • May 18, 2020 3:30am May 18, 2020 3:30am
LauraT, if I'm trading on the 30M tf, is it better to watch the 200SMA of 5M and 15M than to watch that of 1H and 4H? Thanks
  • #1,731
  • May 18, 2020 3:34am May 18, 2020 3:34am
Hi 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.
Attached File(s)
File Type: ex4 CompRSISelectv3_DC.ex4   11 KB | 628 downloads
File Type: ex4 TrendStrength - RSI-MTF_DC.ex4   14 KB | 611 downloads
  • #1,732
  • May 18, 2020 3:38am May 18, 2020 3:38am
Quoting dietcoke
Hi 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}
Hi

That's very kind of you, thank you!
  • #1,733
  • May 18, 2020 3:55am May 18, 2020 3:55am
Quoting LauraT
{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.
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 ?
every Saint has a past. Every Sinner has a Future
  • #1,734
  • May 18, 2020 3:56am May 18, 2020 3:56am
Quoting turnip15
{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 ?
Absolutely
  • #1,735
  • May 18, 2020 3:56am May 18, 2020 3:56am
Hi everybody. I am waiting for the sell signal for the GU pair. Is it necessary to wait for the price to break through the Daily Open level to get a firm setup. Need your advice. I am a new trader. Thank you very much!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_1.png Size: 91 KB
  • #1,736
  • May 18, 2020 4:02am May 18, 2020 4:02am
Need help on composite rsi usage.can anyone help
  • #1,737
  • May 18, 2020 4:40am May 18, 2020 4:40am
Quoting dietcoke
Hi 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}
Any idea why your TrendStrength RSI produces a different value from the original?
  • #1,738
  • May 18, 2020 4:54am May 18, 2020 4:54am
Todays entry. already in profit.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYm#M5.png Size: 68 KB
  • #1,739
  • May 18, 2020 4:58am May 18, 2020 4:58am
Hi All
Current Oil trade M1
some notes on chart
Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: XTIUSDM1.png Size: 76 KB
  • #1,740
  • May 18, 2020 5:05am May 18, 2020 5:05am
No trading this morning- been learning Spanish via a Zoom meeting. A group of pensioners. keeps us out of mischief I suppose.
every Saint has a past. Every Sinner has a Future
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