DislikedJust entered GU long. It is trading perfect channel. Monthly, weekly, and daily are all long.Ignored
got stopped out
Timeframe inside current timeframe - is that possible? 2 replies
4hr - 1hr Scalping Method 9 replies
Seeing higher timeframe indicators on lower timeframe 4 replies
Trendline, Trendline and Trendline 4 replies
DislikedJust entered GU long. It is trading perfect channel. Monthly, weekly, and daily are all long.Ignored
Dislikedhello lawgirl,
could you please tell me how do you determine weekly, daily, 4h trend direction. Could you post some example charts for us please?
I'm not seeing the same trend direction as you. Do you use any indicators which tells you the trend direction for weekly, daily and 4h or just by looking at the price? Please let me know.
thanks
vijiIgnored
DislikedI use a very simple RSI (3) indicator + PA. I will try to post.
Look at these EURUSD charts...weekly, daily, H4. Look at the RSI indicator. You can see that the indicator does not confirm direction on these 3 TFs. I prefer all three to confirm direction, but depending on PA may enter a trade anyway. Hope this helps.Ignored
DislikedThanks. That really helps. I was looking at your previous posts for the past few weeks and I just noticed an indicator at the bottom (looks like RSI) of your charts but it says WOW:Long and sometimes WOW:Short. Is this a custom indicator you wrote yourself based on Rsi? Sorry to ask too many questions. I was just curious.
thanks
vijiIgnored
DislikedYou are very observant. I have tried not to have that indicator showing, as I it is a custom RSI indicator that I paid someone for so it belongs to him, but I have forgotten to minimise it sometimes. The RSI (3) that I posted is the same, except it does not say "long" or "short"
Reading the RSI, think of a clock face...pointing between 12:00 and 2:00 -- Long; pointing between 4:00 and 6:00 -- Short.Ignored
DislikedYou are forgetting a fundamental rule! Only trade the current week. It is really not important for the 3 tap system what previous weeks have done. You are making this far too complicated.Ignored
DislikedI'm curious where the one week rule comes from. In the very first post on this thread, David shows three trades with the system. Unless I'm misreading the charts in that post, in the first trade the third tap comes after a weekend has passed. In the third trade (second trade, second chart) it looks like there is over two weeks between L1 and the third tap.
Was there some development I'm missing? Please forgive me if there is an obvious answer to this concern. I'm just trying to get a firm handle on the mechanics of this technique.Ignored
DislikedNobody is paying attention to this thread anymore.
Do what works. Look at it....if it works ...do it.
Take the time to go through the charts and back test it.
It works...believe me. don't get super hung up on rules. three taps...if you are afraid to try it...just do the major trend lines....big long pretty trend lines.Ignored
DislikedI'm curious where the one week rule comes from. In the very first post on this thread, David shows three trades with the system. Unless I'm misreading the charts in that post, in the first trade the third tap comes after a weekend has passed. In the third trade (second trade, second chart) it looks like there is over two weeks between L1 and the third tap.
Was there some development I'm missing? Please forgive me if there is an obvious answer to this concern. I'm just trying to get a firm handle on the mechanics of this technique.Ignored
DislikedI have re-read the first 10 pages and you are so right..I can't find a reference to the week rule. I don't know if that rule was relaxed, or if I made it up! If I have confused or mislead anyone for saying this (more than once) I sincerely apologize. It is a rule I follow for entering trades, but not for garnering overall trend, however, so I may have added it subconsciously to Dave's rules. Again, I apologize to Dave and anyone I may have confused.Ignored
DislikedI'm curious where the one week rule comes from. In the very first post on this thread, David shows three trades with the system. Unless I'm misreading the charts in that post, in the first trade the third tap comes after a weekend has passed. In the third trade (second trade, second chart) it looks like there is over two weeks between L1 and the third tap.
Was there some development I'm missing? Please forgive me if there is an obvious answer to this concern. I'm just trying to get a firm handle on the mechanics of this technique.Ignored
DislikedI have re-read the first 10 pages and you are so right..I can't find a reference to the week rule. I don't know if that rule was relaxed, or if I made it up! If I have confused or mislead anyone for saying this (more than once) I sincerely apologize. It is a rule I follow for entering trades, but not for garnering overall trend, however, so I may have added it subconsciously to Dave's rules. Again, I apologize to Dave and anyone I may have confused.Ignored
DislikedHello lawgirl21, don't worry you are right, it is in the thread somewhereIgnored
DislikedThanks so much, DW. I thought maybe I was losing it! I feel much better.Ignored
DislikedI have re-read the first 10 pages and you are so right..I can't find a reference to the week rule. I don't know if that rule was relaxed, or if I made it up! If I have confused or mislead anyone for saying this (more than once) I sincerely apologize. It is a rule I follow for entering trades, but not for garnering overall trend, however, so I may have added it subconsciously to Dave's rules. Again, I apologize to Dave and anyone I may have confused.Ignored
DislikedMy goal is to average $500 per day, 4 days per week. I am hitting that average. I do trade other systems though.Ignored