Tim's Journal

Indicators to be used,

emacrosswithrsi(3)
Vegas 1 hr Tunnel

5 and 12 EMA
RSI(21 periods) level 50


Trades will only be taken on 1 hr charts.

Longs,
5 EMA corsses 12 EMA from below to above AND rsi crosses 50 from below to above.

Shorts,
5 EMA crosses 12 EMA from above to below AND rsi crosses 50 from above to below.

Vegas 1 hr tunnel

This is used to a couple reason.
1st reason is to TP
2nd reason is to show where price is in relation to a certain amount of time.
3rd reason is to keep us out of signals produced from the 5/12 RSI/50 cross.

The third reason is the hardest part to figure out. This is where the discretion will come into play. I will not explain that part here cause with time, it will change when I learn more about how this works.

I, just like everyone else, will be learning this stuff as this journal progresses.

Here is what I talk about with 5/12 cross and RSI/50 bounce.

This is the same thing as the last chart, 5/12 cross with RSI/50 bounce.

The red and green lines are from the 30 min chart when the signal was made. Notice where the 1 hr tunnel is. It is just below the price. This is not a very good setup. Although, for research purposes, I took the trade anyhow. Blue line is for the 1 hr signal.

AUDUSD trade working nicely. 30min and 1 hr signal both. First TP is yellow dotted line. Which is +42 pips from entry. It is the first fib level on the Vegas Tunnel. I moved the SL to just above the tunnel (green line).

EURJPY short signal. Red line is entry, green line is SL and dotted yellow lines are TP.

This is the nice thing about posting charts. Look at this EURJPY chart. It is the same chart but a couple hours later. Notice there is no blue dot signaling a RSI/50 cross. Those do not get placed on bar closes. Those get placed in real time. After the bar close, RSI crossed 50 which made the blue dot. The real signal would have been when the next bar closed.

Here is a signal on USDJPY. Quite a ways from the vegas tunnel though. Actually, it is at the outter fibs of the tunnel. Shorts are preferable here. We'll see what happens.

Here is a Long signal on NZDUSD. Notice how price was bouncing around 1 hr tunnel and has now broken resistance. It was also bouncing off the daily channel.

Here is NZDUSD with the 4 hr and daily channel. Very high probability of this one working.

Here is the AUDUSD tradefrom yesterday. Using the 9 SMA to exit this trade, total pips on this one would have been 60.

Here is a signal on EURUSD after the news came out. News at 8:30 EST and signal at 9:00 EST.

Here same as EURUSD, this is USDCHF. Yes I know, they move in opposite directions about the same but, I am doing a study on this and there is a reason for these 2 trades.

Long AUDUSD. Price closed just under then tunnel and shot right through it. Lets see if this one gets to the outter fibs. Books about 60 pips on that last swing down, maybe get that much on its way back up.

Here is the NZDUSD trade. Look how price went and touched the TP. This is the second Fib line of the Vegas tunnel. Actually, when I put my TP, I put it a pip or 2 short of the fib line only cause it is safer.

Here is a Long signal for eurgbp. It is a 4 hr signal. Price has crossed the Vegas 1 hr Tunnel. 5 has crossed the 12 and RSI has crossed the 50.

At the moment, EURUSD is rangebound. It is making many many highs at same price and basically lows at the same price. This indicates major indecion. If I left my SL where it is, and just "see" what happens, I would be gambling and that is stupid. The reason is probably because of news coming out tomorrow morning so, I will move my SL to BE+1 which is just under the 1 hr Tunnel. I now have a free trade. Also, notice 9 SMA has crossed 5 EMA.

USDCHF hasn't moved as much as EURUSD. Price is sitting above the 1 hr tunnel. Also 9 SMA has crossed 5 EMA. If 5 EMA crosses back over 9 SMA, this would possibly be a signal to open a trade if none were open. If I had opened a trade here, I would have closed this position.

AUDUSD, price is just above the tunnel. Just like the other 2 trades, price has stalled. This is normal for this time of the day. 9 SMA hasn't crossed the 5 EMA. I would move SL to BE+1 and have a free trade.

NZDUSD, this trade has worked very nice. It has stalled right at the first fib which is where I would have taken some profits. Looking at the longer term charts, price doesn't want to go higher. I am thinking this won't go much higher. I moved SL to BE+1 and let it go. Let's see if it can reach the next fib. If not, we take the next short signal and ride it down. Also, 9 SMA is riding right up with the 5 EMA very nicely. Since it won't show on this chart, the next fib is .6380