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Mouteki Trading

  • #3,241
  • Oct 8, 2006 6:48pm Oct 8, 2006 6:48pm
Quoting moonchild
If that is a viable head and shoulders formation (the one thing which bothers me about it is the disparity in the neck lines on the 2 sdes) then your target is around 1.8624. Nice little pile of pips if it turns out. The general rule on probability of a head and shoulders breaking is supposed to be highest on the right shoulder, but in this case that has already fully formed and broken the neck line.

moonchild,

Hehehehe..... I guess there are more than one ways to skin a cat. The way I've been taught to trade head and shoulders was to enter at a confirmed breach of the neck and project target to extend down (in this case) by the same distance as from the tip of the head to the neckline (ie pretty much mouteki anyway).

But yeah, the disparity bothers me a little too. Having said that, I did say in this case that this is just another thing in addition to the mouteki setup here. Waiting for a mouteki breach....
"The market will rally from this or lower levels"
  • #3,242
  • Oct 8, 2006 9:07pm Oct 8, 2006 9:07pm
I had a question regarding the indicator. The Mouteki Heart Ver2, or even ver1.

I dont understand why it draws the intersecting lines, where it draws. Because if i follow the mouteki rules, my intersecting lines to supply/demand are at different spots than what the indicator draws.

I dont know who is right, the indicator or me.

Can some one please help me on this because its about to drive me crazy.


Thank youhttp://picnac.com/images/3647mouteki-v2.gif
  • #3,243
  • Oct 9, 2006 1:16am Oct 9, 2006 1:16am
Looks broken?
Attached Image
I am JuMPeR.
  • #3,244
  • Edited 3:51am Oct 9, 2006 3:24am | Edited 3:51am
GBPUSD brak DL

Target 249 pips
SL 82,17 pips + spread

http://img154.imageshack.us/img154/2...breakdlmo2.gif
  • #3,245
  • Oct 9, 2006 3:26am Oct 9, 2006 3:26am
Quoting Angler
hi....


wcForex....are you telling me you held onto your trade after the 100pip plus move up against your trade in the following bar thats not shown on your chart...?
Yeah, you're right Angler. That's what I first thought. But, something doesn't quite look right with the chart he attached. Looks like he may have entered after the NFP at 1.8709 if my eyes are not deceiving me. If that's the case, the candle before the entry should have a long wick. I can't see it on the chart........it looks to be somewhat distorted. I was trying to compare it with my chart, but candles are somewhat different due to the time zone factor. Perhaps he can clarify.

Nipper
  • #3,246
  • Oct 9, 2006 3:36am Oct 9, 2006 3:36am
hi..

Just had to put ..Ahil..on my ignore list..no panic though its just the chart that he posted was to big and causing me to scroll ..will take him off ignore when we go to the next page...hoping he can adjust the size in future posts.

Anyway....are people in this cable short trade.

Price is struggling to break down thru horizontal S&R @~8864
  • #3,247
  • Oct 9, 2006 3:45am Oct 9, 2006 3:45am
hi, new here. i got short at 8685. because of the lack of action today with the holidays and all, have placed my stop at 8705 and put a target at 8630, just above S 1. do you have the ppi numbers?
  • #3,248
  • Oct 9, 2006 3:47am Oct 9, 2006 3:47am
Quoting Ahil
GBPUSD brak DL

Target 249 pips
SL 82,17 pips + spread
Here is a good example of how the Mouteki TL's comfirm each other. There was a DL break, just before NFP but I personally wouldn't take that trade (I just don't like the volatility during this news event). If wcForex entered short on the candle after the NFP at 1.8709, based on that DL break I consider that to be good judgement. (my chart shows an opening of 1.8696). Now, we have a second DL breach that Ahil posted which confirms the one from Friday. Makes sense to me.
  • #3,249
  • Oct 9, 2006 3:56am Oct 9, 2006 3:56am
Short at 1.8657 - entered 1 pip below low of prev candle not on open (just forward testing this to see how it goes).

Stop - 1.8762
Target - 1.8424

Does seem to be struggling at this point though.
  • #3,250
  • Oct 9, 2006 3:56am Oct 9, 2006 3:56am
Quoting Angler
hi..

Just had to put ..Ahil..on my ignore list..no panic though its just the chart that he posted was to big and causing me to scroll ..will take him off ignore when we go to the next page...hoping he can adjust the size in future posts.

Anyway....are people in this cable short trade.

Price is struggling to break down thru horizontal S&R @~8864
now is smaller but it is too small now, f#"#
  • #3,251
  • Oct 9, 2006 3:59am Oct 9, 2006 3:59am
600 x 600 is what your shooting for on the chart size



Quoting Ahil
now is smaller but it is too small now, f#"#
  • #3,252
  • Oct 9, 2006 4:04am Oct 9, 2006 4:04am
hi...


Cool...thanks for trying to adjust the charts
  • #3,253
  • Oct 9, 2006 4:11am Oct 9, 2006 4:11am
Quoting turbokaos
600 x 600 is what your shooting for on the chart size
ok thanks, I will resize them in future to 600x600
  • #3,254
  • Oct 9, 2006 4:12am Oct 9, 2006 4:12am
Quoting Angler
hi...


Cool...thanks for trying to adjust the charts
well at least it isn't too big now ))
  • #3,255
  • Oct 9, 2006 4:21am Oct 9, 2006 4:21am
i think house prices may be scuppering the cable short today.
TRADE FOR SWAP
  • #3,256
  • Oct 9, 2006 4:25am Oct 9, 2006 4:25am
hi..

Like the pic of ..Bender...was just watching him...haha
  • #3,257
  • Oct 9, 2006 4:46am Oct 9, 2006 4:46am
Quoting tiger2
Short at 1.8657 - entered 1 pip below low of prev candle not on open (just forward testing this to see how it goes).

Stop - 1.8762
Target - 1.8424

Does seem to be struggling at this point though.
In my modified Mouteki, I would put another short should it reverses.. I shorted GBPUSD when it was 1.8788 last friday. and shorted another lot @ 1.8700...

I dont follow Mouteki's SL and Target - just the direction and keep the Target very conservatively at either 25 or 50.. And if the direction favors carry, I add another lot.
  • #3,258
  • Oct 9, 2006 5:07am Oct 9, 2006 5:07am
might even get some divergence in this one
Attached Image
  • #3,259
  • Oct 9, 2006 5:14am Oct 9, 2006 5:14am
Quoting Horace Kent
Dammit! A short I didn't take. Shoulda woulda coulda, blah blah blah:
Same here... Same here...

I prefer BUYING this pair (for the huge Swap in case it goes against me).. But seeing how high this pair already is, I am ignoring any buy nor short for this pair for the moment..

Actually I have been range trading this pair for 2 weeks now. Short at 223 and long at 220.. The nuke rumor made me remove my short at 223 and darn big mistake... i could have taken a 50/60 pips profit..

Nonetheless, Mouteki is very accurate! It has given me some 200 pips profit last week on USDJPY, GBPJPY and GBPUSD...
  • #3,260
  • Oct 9, 2006 5:28am Oct 9, 2006 5:28am
I'm not so sure about this short in the cable... USD/JPY is at a strong resistance, and I think it will go south soon. And the correlation between GBP/USD USD/JPY says that cable then go north...

What do you think?

http://img96.imageshack.us/img96/8595/gbpusdzq2.gif
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