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me myself and mouteki

  • #1
  • First Post: Oct 5, 2006 8:25am Oct 5, 2006 8:25am
since I am a firm believer of trading off price action, i have been studying the mouteki technique a lot. However, I have a question but I don't feel like searching through the huge thread for my answer (my eyesight will start to daze).


My question is, would the support/resistance be valid if the candles beside it have same low/high respectively? Or do I need to find a point where the candles beside it do not exceed its low/high?!? I hope you understand my question.

Thanks
  • #2
  • Oct 5, 2006 8:28am Oct 5, 2006 8:28am
I think Mouteki answered this question.
He says you should use the most recent candle to draw the lines.
Regards
  • #3
  • Edited 1:43pm Oct 5, 2006 10:55am | Edited 1:43pm
Quoting hilmy83
since I am a firm believer of trading off price action, i have been studying the mouteki technique a lot. However, I have a question but I don't feel like searching through the huge thread for my answer (my eyesight will start to daze).
My question is, would the support/resistance be valid if the candles beside it have same low/high respectively? Or do I need to find a point where the candles beside it do not exceed its low/high?!? I hope you understand my question.
Thanks
Hi Hilmy
Yes you pick the nearest bar to current price action, but I have my own selection method on this. I don't think it's in any of the Mouteki stuff, just my own preference.
Say you've got two bars at resistance (Supply line) and the two bars to the right of this pair are lower, that's OK. But I also like to see two bars to the left of this pair be lower as well. See image
Attached Image
  • #4
  • Oct 5, 2006 12:03pm Oct 5, 2006 12:03pm
ok i get it now, basically take the two candles with same low or high and treat as one. And look 2 candles to the left and right of it

thanks!
  • #5
  • Oct 5, 2006 12:21pm Oct 5, 2006 12:21pm
another question? have any of you guys tested mouteki on a daily chart? I started yesterday and have opened a few positions, but can't remember which ones.

I think if the concept is reasonable and that higher time frame has less noise, it should work right??!?!
  • #6
  • Oct 5, 2006 12:29pm Oct 5, 2006 12:29pm
Funny that you posted a Mouteki method related question in the general forum, and not the Mouteki niche one.
I am JuMPeR.
  • #7
  • Last Post: Oct 5, 2006 1:42pm Oct 5, 2006 1:42pm
Quoting hilmy83
another question? have any of you guys tested mouteki on a daily chart? I started yesterday and have opened a few positions, but can't remember which ones.

I think if the concept is reasonable and that higher time frame has less noise, it should work right??!?!
Trading from higher time-frame charts should always be your aim. What is difficult to say is whether any particular system works better.
Most systems/methods have been designed to take advantage of the peculiarities of the timescale the designer set it up on.
Having said that, a trendline break-out should have the same advantages and disavantages when moving up the scale to dailies, for example.
You would need to accept that there will be fewer trades (A Good Thing) and your stops will have to be bigger, so micro lots is the way to go at the start.
There is some real good info here, if you're looking to move to dailies and will give you solid patterns to look out for when deciding to place a trade.
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