Keltner Channel thread

My experiences trading using the Keltner channel will be documented in my thread moving forward in the hopes that I can use it in review to correct any mistakes I make and build a foundation of profititable trades by repeating solid trade entries and exits using this indicator along with a few other to confirm my entries. Mostly through price action using candle charts I will use to some degree other indicators prior to placeing a trade.

-Weekly and Monthly pivots
- Higher time frame fib retracements and extensions
- Moving average
-rsi
-Awesome O

As for my money management I've learned that having more equity available to erase small losses is always better than not being able to so I only risk 1% of my account and exit losing trading quickly, without hesitation. I will consider re-entry as long as the bias of the trade has not changed. This sometimes offiers better profit and less risk.

Price had hit the extreme ATR line in pink and created support on the 30 min chart with 6 bars. The six bar broke off support with a strong bullish bias which closed above the daily S1 and Weekly M2 pivots. My entry was based on price action closing above the 20 ma and the daily pivot. Currently up 37 pip at the time of this entry. On the 4hr chart price has stalled at the upper Keltner line that is now turning flat.

The 2nd chart shows a 100 ma Keltner band on the 1hr chart with price action closing out side of it. My Rsi bullish but the the yellow indicates sideways market on this timeframe as well as the signal indicator. I will wait to see if price closes below the midline of the 100 Keltner mid band before closing the trade.

Long term trend is still down for the eur/usd. However, Keltners are starting to flatten on the upper time frames. As for a short term retracement move I will be looking at the 15 min chart. The Keltner is angled steeply up and price has not yet test the 20 ma. It may interesting to see if a new high is created off of that price action. The 50% fib of the 2nd leg up rests in that area as well.

As a intraday trade I think this trade is done. I expect a pull back and I do not wish to give back the pips I made today. I will look for a setup if price pulls back to the Keltner channels. That will be the basis of my trading this week. So with that said this move had three legs up with a 144 pip move barley reaching the 1618 fib extension and the Keltner channel slightly turning on the 15 minute chart as well as divergence on the RSI.

With a better entry I may have stayed with this overnight but my entry level may get tested and remove most of my 60 pip profit.

This short is a price action trade playing off of the 00 level, daily s1 and a Keltner band (50) as well as standard BB. I got in a little early. I should have waited for price to close below the inner Keltner band. The move up along with the levels a I mentioned prompted me to lower my risk a enter when I did.

Based on what I saw on the 5 min chart and the lack of momentum at this time I exited with a small scalp profit. I will keep an I on this pair but the 5 min shows consolidation with room for price to re-test upper band. Another scalp short may be available at least to the mid line of the bb.

After hours of sideways price action, this pair has traded down. My 1st target will be the 50 ma on the 30 min chart and set to brek even on my 2nd position.

I've placed a small short position on this pair though I believe it has yet to develop. The daily chart shows price containment within a 100 ma Keltner channel. Price trading above this channel on all lower timeframes except the 5 min. I look for a pull back on that TF and as long as price stays within the daily keltner with a chance to break down I may add to my small position. If a move higher occurs I will close my position and form another plan.

entered this short at 156402 exited at 155816. The market is very volitile this morning and so I closed this trade to better manage the two other shorts I have that I hope have a longer view prospects. Exitted with 58 pips. Could have easily held to the Keltner band at least.

I had my eye on this trade from early this morning but did not work out until now. I saw how the 50 keltner band enclosed over the bb and just had to be patient until it worked out. Currently up 56 pips. I hope to hold on to this based on my good entry.

I've set this to break even for now. Hit the daily s2 early on and sold off at 10 am and down to daily pivot. up 38 pip right now will hold until end of day unless stopped out.

Meant to add with my post.

My third trade is the nzd/usd. Position pulled back this afternoon as well but did not stop me out. However the 30 min chart is showing Bearish bias on the 30 min chart and the rsi is trading below 45 Price is trading below the daily pivot sd well. Moved my stop loss to above the daily R1 until the London open.

nzd/usd trade is trading below the daily pivot. The blue horizontal line shows me the location of the 50 fib and the mid oine of my Keltner channel. The Keltner on the 4 hour chart is turning upwards. If this pair make a new daily high I'll look to exit.

The trade is now in its 2nd day and is trading near its weekly pivots point. ias for this trade will remain bearish as long as it remains below this level. The 60 min chart shows the 50 Keltner band with the BB trading within and the the 20 and 50 ma's crossing. The daily chart shows the 20 and 100 keltner bands. The 20 Keltner curving within the 100 Keltner shows some promise. Even if price reverses I will remain bearish as long as price is contained within the 100 Keltner channel on the daily chart. A pull back within the channels may give me a chance to add to this position. Entered trade at .79931

The Keltner channels give an idea of price containment and volitility much like the bb's. However, The Keltner channels allow for a degree of insight into price action because of its ATR attributes. To give myself a clearer focus I have placed 20, 50, and 100 ma's onto a chart so that I can study this position clearly. The 30 min chart shows the ma's crossing downward but a doji forming. The 4 hr chart shows them jumble without any angle at the moment. The keltner channel with price closest to it may be the temporary supprt for this price action. The third 4 hr chart show price at the 100 Keltenr outer band but the 20 ma below the 100 ma which gives me reason to hold for now through any price stagnation.

I meant to add the daily chart to illustrate what I was thinking in my prior entry.

Back in November of 2011, the nzd/usd gapped up and this gap was visiable on the daily chart on down and has lasted until this day. this is over 8 months. A similar gap also occured that same Sunday in the aud/usd and has since been closed to then rally up to the 104 region shortly after and gap down from there. The aussie is in the process of rallying up once again to close that gap now. These gaps esspeacially seen on higher time frame are great levels to trade be cause of the duration they tend to remain in play and I have had plenty of pips to be grateful for but the gravy train may be coming to the end of the track for this NZD gap. Over the last week and a half I have been fading rallys in anticipation that this gap will finally fill as they all do eventually. I've been using small risk for these trade and moslty weekly and monthly pivots to fade.

The 2nd chart is one that I have taken today. Modest positions and not all will remain open. As levels are retested I will trade accordinglly. I'm not stating that this is the top for this pair today. I'm only staing that I will not long this pair any longer.

The fibs are based on the hi and lo of 2011. Price has bounced down off of the 61.8. It has also closed below the daily S2 and weekly m5. I'll keep a close eye on this one going into next week as well.

Had my hands in this one all day. Stopped out a couple of times but thankfully still up for the day. Credit my MM rules for that. I got in in a good spot here and will evaluate if price get to the 50 ma. I'd like to hold on to this a lil bit and will add to the position if new highs are made. The blue line at .7933 is a gap on the 1 min chart.