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(binned per thread starter's request) Currency Strength with cont

  • #1,221
  • Jul 25, 2018 6:17pm Jul 25, 2018 6:17pm
Quoting neilsdigest
{quote} I can't join your thread as Twee tells me off ;-)
lol
fortis fortuna adiuvat
  • #1,222
  • Jul 25, 2018 6:22pm Jul 25, 2018 6:22pm
Quoting Botan626
USDCNH Posted CNYWCU chart on JUL 22 here (https://www.forexfactory.com/showthread.php?p=11286708#post11286708) and also in USDCNH (https://www.forexfactory.com/showthread.php?p=11297725) thread. Now the 3d trading day of week is over and lets have a look how it developed: {image} USDCNH dropped almost 700 pips on Jul 25. {image}
Good hey.... its how you get rich my friend... Nothing complicated.. I wish I had traded it... You was right and Ronda was wrong. Good call... ;-)
The most violent element in society is IGNORANCE
  • #1,223
  • Jul 25, 2018 6:27pm Jul 25, 2018 6:27pm
Quoting neilsdigest
If you use for example Davits system of pivots.... I believe but never tried it (so its theory) as he uses the TDI indicator but on the default setting... .
Just a side note. He uses slightly faster period of TDI as he also likes faster reaction of it...
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #1,224
  • Jul 25, 2018 6:31pm Jul 25, 2018 6:31pm
Quoting heispark
{quote} Just a side note. He uses slightly faster period of TDI as he also likes faster reaction of it...
Oh thanks for letting me know... I have never used it to be honest.. ;-)
The most violent element in society is IGNORANCE
  • #1,225
  • Jul 25, 2018 6:37pm Jul 25, 2018 6:37pm
Quoting neilsdigest
{quote} Good hey.... its how you get rich my friend... Nothing complicated.. I wish I had traded it... You was right and Ronda was wrong. Good call... ;-)

Thank you for your kind words!

I'd like to ask you this question: Why GOLD is the most valuable currency? What is definition of valuable?
  • #1,226
  • Jul 25, 2018 6:46pm Jul 25, 2018 6:46pm
Quoting neilsdigest
{quote} Oh sorry. Can I post that tomorrow night. Sorry I did forget.. Just quick if I can... Never if you use indicators especially on MT4 use the default setting. It shows the past when you should be interested more in what is happening now. Like I use in certain trades like the myfxbook ones the RSI 2 setting. I use the RSI 2 as mre of a confirmation of strength and weakness and not overbought/oversold. .. So if using the ADX and you want to see how good the trend is put the ADX setting to 2.. Not the default setting. Like if I can post this...
True so true. There is a reason why brokers and gurus affiliated to brokers and banks teach to use the default settings. I myself use the rsi2 but set on weekly. Watching the Daily charts once the rsi2 drops below 30, that's my sell signal. Then I place a sell on the H1 chart and ride that baby down selling each retracement with the WR% @ - 80. What fun it is. There are times I'll collect 600 pips on a 300 pip move. Now with this system, the sky's the limit. Thanks ND.
Trade what "Is", not what "If".
  • #1,227
  • Jul 25, 2018 6:49pm Jul 25, 2018 6:49pm
Quoting neilsdigest
{quote} Daily profit and loss..... Like the big ones don't hold trades. They go in and out taking daily profits... and yes sometimes a loss.

Summing up info on how big boys do their business.

They open huge positions, get instant execution, take daily p/l, stop buying/selling currency if the price is too expensive. Did I get it right?

You saw a 350 million trade. What curr pair it was? Any leverage? How long did this trade last? What was the profit?
  • #1,228
  • Jul 25, 2018 7:17pm Jul 25, 2018 7:17pm
Quoting 4xu2
{quote} True so true. There is a reason why brokers and gurus affiliated to brokers and banks teach to use the default settings. I myself use the rsi2 but set on weekly. Watching the Daily charts once the rsi2 drops below 30, that's my sell signal. Then I place a sell on the H1 chart and ride that baby down selling each retracement with the WR% @ - 80. What fun it is. There are times I'll collect 600 pips on a 300 pip move. Now with this system, the sky's the limit. Thanks ND.
Perfection.... You have that perfected.... Some find it funny that way I use the RSI as a currency strength indicator... :-)
The most violent element in society is IGNORANCE
  • #1,229
  • Jul 25, 2018 7:21pm Jul 25, 2018 7:21pm
Quoting Botan626
{quote} Summing up info on how big boys do their business. They open huge positions, get instant execution, take daily p/l, stop buying/selling currency if the price is too expensive. Did I get it right? You saw a 350 million trade. What curr pair it was? Any leverage? How long did this trade last? What was the profit?
LOL..... Can I please answer you tomorrow and the gold one... I got carried away watching the USD/CHN (YEN)- I have to get up mega early and it's gone 2am here.... ooop's. I was having an early night as well... I get carried away. I find it all fascinating..
The most violent element in society is IGNORANCE
  • #1,230
  • Jul 25, 2018 7:32pm Jul 25, 2018 7:32pm
Quoting neilsdigest
{quote} LOL..... Can I please answer you tomorrow and the gold one... I got carried away watching the USD/CHN (YEN)- I have to get up mega early and it's gone 2am here.... ooop's. I was having an early night as well... I get carried away. I find it all fascinating..

Of course! There is absolutely no need to rush with this. Almost 3:30 a.m., so its time for me to go to bed too.
What are you watching about USD/CNH?

Quoting neilsdigest
{quote} Good hey.... its how you get rich my friend... Nothing complicated.. I wish I had traded it... You was right and Ronda was wrong. Good call... ;-)
Btw it was not me who was right, it was another case when WCU told us its time for CNH to change its direction.
  • #1,231
  • Jul 25, 2018 8:17pm Jul 25, 2018 8:17pm
Quoting 4xu2
{quote} True so true. There it is a reason why brokers and gurus affiliated to brokers and banks teach to use the default settings. I myself use the rsi2 but set on weekly. Watching the Daily charts once the rsi2 drops below 30, that's my sell signal. Then I place a sell on the H1 chart and ride that baby down selling each retracement with the WR% @ - 80. What fun it is. There are times I'll collect 600 pips on a 300 pip move. Now with this system, the sky's the limit. Thanks ND.
What is WR% @ - 80??
  • #1,232
  • Jul 25, 2018 10:24pm Jul 25, 2018 10:24pm
I guess it is williams percent range period 80
Humble & Kalcker CLO2 = Covid killer
  • #1,233
  • Jul 25, 2018 10:43pm Jul 25, 2018 10:43pm
Quoting bojack34
{quote} What is WR% @ - 80??
Williams percent range 14 period. Sell at - 80 overbought and buy at - 20 oversold.
Trade what "Is", not what "If".
  • #1,234
  • Jul 26, 2018 3:25am Jul 26, 2018 3:25am
If anyone is trading the contrarian system full time kindly send me a PM, ive got a question or two. thanks
  • #1,235
  • Edited 3:57am Jul 26, 2018 3:42am | Edited 3:57am
Quoting venividivici
If anyone is trading the contrarian system full time kindly send me a PM, ive got a question or two. thanks

Why not asking them here? We could all possibly learn something after answering to your questions.
  • #1,236
  • Jul 26, 2018 3:57am Jul 26, 2018 3:57am
Quoting 4xu2
{quote} True so true. There is a reason why brokers and gurus affiliated to brokers and banks teach to use the default settings. I myself use the rsi2 but set on weekly. Watching the Daily charts once the rsi2 drops below 30, that's my sell signal. Then I place a sell on the H1 chart and ride that baby down selling each retracement with the WR% @ - 80. What fun it is. There are times I'll collect 600 pips on a 300 pip move. Now with this system, the sky's the limit. Thanks ND.

Hi! Could you upload indicators you mentioned, please? Wanna take a look on them after your explanation.
  • #1,237
  • Jul 26, 2018 4:08am Jul 26, 2018 4:08am
Quoting Botan626
{quote} Hi! Could you upload indicators you mentioned, please? Wanna take a look on them after your explanation.
Sure will do after work. W%R should already be in your mt4/5. That one goes on the H1 chart. Ill upload rest later.
Trade what "Is", not what "If".
  • #1,238
  • Jul 26, 2018 7:00am Jul 26, 2018 7:00am
Quoting 4xu2
{quote} I myself use the rsi2 but set on weekly. Watching the Daily charts once the rsi2 drops below 30, that's my sell signal.
Just a little clarification bro. You say your rsi2 is set on weekly, then you say you watch the daily charts for rsi2 below 30. Mind explaining more on your use of the weekly/daily charts? Tnx.
Simplicity Is The Ultimate Sophistication!
  • #1,239
  • Jul 26, 2018 9:40am Jul 26, 2018 9:40am
Quoting 4xu2
{quote} True so true. There is a reason why brokers and gurus affiliated to brokers and banks teach to use the default settings. I myself use the rsi2 but set on weekly. Watching the Daily charts once the rsi2 drops below 30, that's my sell signal. Then I place a sell on the H1 chart and ride that baby down selling each retracement with the WR% @ - 80. What fun it is. There are times I'll collect 600 pips on a 300 pip move. Now with this system, the sky's the limit. Thanks ND.
I'm in agreement with Ipmenia... a little confused on the Weekly/Daily relationship with RSI2. With a little clarification, we should enjoy profits as you do. Also, do you wait for the Weekly candle to close or is it anytime of the Weekly candle that touches the RSI thresholds that you then employ your trading? If you do wait for a weekly close, then we are starting a new week on Sunday. Are you then taking the direction of the Weekly and then looking at the Daily & RSI2, then dropping down to H1?
If you have a template you'd like to share, that would be helpful as well. Look forward to it.
  • #1,240
  • Edited 3:00pm Jul 26, 2018 2:10pm | Edited 3:00pm
Re: I myself use the rsi2 but set on weekly. Watching the Daily charts once the rsi2 drops below 30, that's my sell signal.

(I might be wrong)
RSI 2 must be below 30 both on the weekly and daily..
Then on the H1 chart if the williams percent range goes below 80 he/she sells.
For a buy the RSI 2 must be over 70 on the weekly and daily cart.. Then if the Williams percent range goes above 20 he/she buys.

So no one got on the GBPUSD on the H1 - Naughty, naughty..... Not using the method as posted by 4XU2

The move below on the GBPUSD was 100 pips - 1000 points.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSD1H.png Size: 139 KB
Click to Enlarge Name: 100pipmove.png Size: 35 KB
The most violent element in society is IGNORANCE
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