Mouteki with other time frames?

Quoting accrete

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Greetings all,

And on the trend is your friend/higher TF thought; it was a webinar i took from Raghee months ago where she shared her viewpoint that a chart's "trend" should stand on it's own. If there is a set up on your favorite time frame according to your rules on that TF, take the trade. : )

Good Trading, and enjoy your weekend.
: ) Thom

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Quoting Dpip

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In trading the trends on the shorter time frames, resistance and support levels on the larger time frames should be respected...Do y'all find that to be valid?

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Quoting saaedb

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TwoBlinks one more question, on the 1hr chart how many days of data do you look at?

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Quoting YasirYar

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hey guys.. im really sorry coz i know this isnt the right place for askin this question.. but is the chart showing divergence between the red check marks?? becauyse the price climbs higher but the stochs are at the same level.. and then the price dips down sharply.. thanx

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Quoting saaedb

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Yes, that is a valid divergence, but I'd be a little skeptical to short this pair at this time coz if you look at the daily chart, the price has broken above a long term resistance level. As long at the price action remains above the 119.00 level I'm only going to look for Buy oppertunities.
These are my two cents and I'm no pro

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Quoting YasirYar

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hmmm alright.. well this chart was a long time back so dont worry about that.. i was just checkin to make sure divergences really work or not.. so anyways do u normally look for divergence in the RSI or the stochs?? thanx

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Quoting saaedb

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I personally trade the Divergence on the RSI(14) but stochs (slow) divergence is a pretty good signal too. But most of the divergence signals that I've used were based off the daily charts.

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Quoting YasirYar

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hey thanx man.. can you also give me any EA or indicator which i can use to view daily and weekly privot levels?? that would be a big help

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Quoting YasirYar

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hey guys.. im really sorry coz i know this isnt the right place for askin this question.. but is the chart showing divergence between the red check marks?? becauyse the price climbs higher but the stochs are at the same level.. and then the price dips down sharply.. thanx

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Quoting saaedb

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Yo Blinky, I mean TwoBlinks (I hope you didn’t mind me calling you blinky, if you did, then you need to lighten up and I will stop calling you thatJ)

I’ve been looking into the 4 hour vs 1 hour chart and I do agree with you to some extent that we can view hidden support/resistance points on the hourly chart that we can’t see on the 4 hour chart but I still prefer the supply/demand lines from the 4 hour chart coz it filters out a lot of noise in the market. But I will the trigger based of the hourly chartJ.

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Here is what I’ve compiled and decided, please let me know what you think about it.

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Rules of engagement<o></o>

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1) Draw the Supply/Demand Lines on the 4 hour chart

2) Zoom in to 1 hour chart and look for potential supply/demand line but I’ll be picking only lines that complement the lines from the 4 hour chart. (The image attached is an hourly chart and the white lines were drawn on the 4 hour chart and the green lines were drawn on the hourly chart. These lines are only for the past 30 days)

3) If there is a support/demand line made on the hourly chart (you can’t see it in the 4 hour chart) I’ll only consider lines at an angle of 60 degrees or less to be of any value and will ignore any line with a greater angle.

4) Entry is going to be based of the hourly chart, and I’ll only consider taking a position if there is a valid break of the line i.e. the candle closes comfortably above/below the supply/demand line (15 pip above/below)

5) Rest of the method is going to be all Mouteki

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Have a good one J

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Quoting LightKeeper

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Not necessarily true
Some people compound. What I mean is, always risk 5% of your capital. If your capital increases, you increase your risk proportionately and still risk exactly 5%. That way, the more trades you make, the quicker you compound. On 5% per day for example (and yeah, I agree that's a very high return but it's just an example) it takes a couple of years to make a million bucks starting with five dollars

L

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Quoting twoblink

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First, "Blinky" is someone else.. Please don't call me Blinky and I won't call you Saab.

In my on going understand; I now firmly believe believe that if you use the 4H, then you might want to look at the 1H, but if you trade the 1H, you don't need to look at the 4H.

"Inheritance" concepts say that 4H inherits everything 1H has; but not the other way around.

So like I said before; you can do what you like, but for me, if I trade 1H, I don't need to look at the 4H. In fact, it makes no sense to look at the 4H.

Timeframe theory gets violated when you check with the longer timeframes for confirmation in shorter timeframes.

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Quoting saaedb

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One more question for you, lets say you're looking at your 1Hr chart and the price starts to bounce off the demand line, would you jump in ang go long there or will you wait for the price to go all the way up to the supply line and break above it to take a position?

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Quoting ssteiner87

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Twoblink, I've read a bit of your material, and regardless of how old you are, you seem like a very intelligent person. I too have the thirst like you to learn, and I was wondering where you read your ebooks? I've found a couple of forex ebook sites, but they didn't have much, and quite honestly were not that impressive. I've read a couple, but would like to know if there was a "hord" or some place where there was an abundant amount of material to read through. Thanks for the help

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