A DS trade is looking good on EG M1, get your tickets!! {image}
Alien's Extraterrestrial Visual Systems
- #21,322
- Dec 5, 2018 10:01am Dec 5, 2018 10:01am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
{quote} Thanks for coming back! Does that mean that "Alien hook" is divergence on one timeframe lower? i.e. (can't see TF on chart) if TF of chart is H4 then this S8 div is S21 div on H1? Guess, I understood it wrongly...I thought it is more of a slight div of S21 when S8 turns to S21, but instead of reaching it suddenly turns around and brings S21 and S100. e.g. S100 and S21 are in 80 level with S21 making slight divergence, S8 is below 50 level---->S8 turns up to push price higher---->S8 doesn't reach S21 and S100, but suddenly turns back down...
"The Alien's hook is a reversal sign. This system you know is built to be a trend following system. Therefore most setup, rather than all, are thought to trade with the trend.
As master Alien said "when price is rolling over by looking at the stochastics slow rolling over and when you see that 8,3,3 hook up and back down, it's normally a great sign of the final move long and then back down".
So it's a sign of exhastion of the trend. Usually I detected it on H1 TF
To me there are two components to configure it:
1) - the slingshot of 8,3,3 does not reach the top or bottom and then it goes back down with 21;
2) - price make a last HH (or LL) but you can detect divergence.
Alien used it only to exit from a trade but I dare say it is also a reversal sign and you can use it in two ways, i.e.:
exiting from an ongoing trade at top without losing pips or entering in the direction of the reversal.
Usually it is very powerful and divergence is essential to point it.
P.S. For a nice example see my post #18529".
See also post #18555
Per aspera ad astra
- #21,324
- Dec 5, 2018 10:32am Dec 5, 2018 10:32am
{quote} Alberti, please read my post #19153 and related. "The Alien's hook is a reversal sign. This system you know is built to be a trend following system. Therefore most setup, rather than all, are thought to trade with the trend. As master Alien said "when price is rolling over by looking at the stochastics slow rolling over and when you see that 8,3,3 hook up and back down, it's normally a great sign of the final move long and then back down". So it's a sign of exhastion of the trend. Usually I detected it on H1 TF To me there are two components...
! Your advises are very appreciated.
{quote} This version I have included a "slingshot" alert as follows: If RSIOMA above 80 and DDStochastic below 50 but turning up then push message= "Bullish slingshot alert Symbol()" If RSIOMA below 20 and DDStochastic above 50 but turning down then message="Bearish slingshot alert Symbol()" Will add selected TF next version. Edit: Still happy for anyone who can improve to contribute
please keeep up the good work!
Thank you.
- #21,331
- Dec 9, 2018 6:43am Dec 9, 2018 6:43am
EURAUD confirmed /\ UP UP Found another good looking turn. A little bit late for the best entry possible, we even had a divergence retest on the daily to add a little bit more money into it. {image}
Good find...although, I would be careful with that.
D div forced price to retrace for now, however, that volatile move created div of S21 and adx7 on h4, while on D price is playing with MA200.
Guess, it might go down coming week to continue bearish trend.
{quote} All TFs below D have topped, so it's a question of waiting to see if it will pull back to give long entries or reverse to go short. There is possible Weekly RSIOMA divergence long.
- #21,337
- Dec 10, 2018 2:50am Dec 10, 2018 2:50am
{quote} I mean this one: EDIT - sorry the line is slightly inaccurate but it's still divergent to the RSIOMA {image}
Price also bounced from the Support of major Channel. Guess it's indeed a bullish reversal.
- #21,338
- Dec 10, 2018 3:07am Dec 10, 2018 3:07am
I would pay some attention to AJ. This pair seems more confirmative in terms of a reversal on most of the AUD pairs.
D made neat div and H4 adx expanding well too. On H1 are two possible levels of resistance.
W Stochs sloped well to the benefit of bears. X-cross is possible.
If price goes south, I will be looking at this level to scale out.
D made neat div and H4 adx expanding well too. On H1 are two possible levels of resistance.
W Stochs sloped well to the benefit of bears. X-cross is possible.
If price goes south, I will be looking at this level to scale out.
- #21,339
- Dec 10, 2018 3:20am Dec 10, 2018 3:20am
AU is another good looking pair for now. Didn't check if there were any fundamental factors after Powell's dovish comments, but pair seem to be playing in favor of bears.
H4 MA200 and H1 Cloud might serve as a resistance, but D S8 might need to turn a bit higher to make an X-cross.
W didn't really change its bearish theme and sellers might proceed selling this pair.
Nevertheless, there is a support could be seen on W TF and price might struggle to break 0.7 psych barrier.
H4 MA200 and H1 Cloud might serve as a resistance, but D S8 might need to turn a bit higher to make an X-cross.
W didn't really change its bearish theme and sellers might proceed selling this pair.
Nevertheless, there is a support could be seen on W TF and price might struggle to break 0.7 psych barrier.