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Zero Line Reject

  • #41
  • Sep 21, 2020 4:34am Sep 21, 2020 4:34am
Edit to the rules... with regards to the 50 CCI, I will be taking trades when price closes on the correct side of the 34 EMA. If the 50 CCI is nearing zero with a strong slope and price is on the correct side and the 25 CCI has closed at least 2 bars prior, I will take the trade. I will do so only after the candle closes.

Hope this helps some of you,
Reno
  • #42
  • Sep 21, 2020 4:43am Sep 21, 2020 4:43am
Quoting Sang.Real
{quote} GU Same energy. Thanks @ melloyello for sharing such simple and easy to follow method to newbie like me. RRR 1:4 {image}
Hello Sang Real,

Fantastic Job my friend. I am THRILLED. You nailed the London Open. You rock. Feels incredible to win doesn't it? Your charts look very clean too.

Thank you for sharing. Keep up the good work.

Thx Reno
  • #43
  • Sep 21, 2020 4:49am Sep 21, 2020 4:49am
My alert just went off for 1:1. Time to adjust my stop to BE.

Thx Reno
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  • #44
  • Edited 11:48am Sep 21, 2020 4:52am | Edited 11:48am
Detail notes from Dr Bob at this link

https://www.forexfactory.com/thread/27536-cci-50-system

System originator with detail explanation.
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  • #45
  • Sep 21, 2020 4:59am Sep 21, 2020 4:59am
Quoting Sang.Real
{quote} Hi Melloyello. After observing the "set up" over the weekends, I agree that 50CCI, must be above 25 CCI at "0" lines. With candle closed below 34. Here is another Newbie trade, that easy to spot. RRR 1:3 is more than enough. Thanks again my friend. May God blessed you. {image}
Yes Sang Real that is correct, but you are better off in a downtrend to let the 25 close below, go 2 bars and then the 50 will close below. I glad you like the strategy. God always bless you too my friend and thank you.

Keep up the good work, 1:3 is just great.

Thx Reno
  • #46
  • Sep 21, 2020 5:07am Sep 21, 2020 5:07am
I'm not out of the woods yet on this one. The market does what it wants.
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  • #47
  • Sep 21, 2020 5:16am Sep 21, 2020 5:16am
Trader friends, make sure you plan for losses. Do not let them get to you. Analyse your winners and losers. Make sure you are trading only what you can afford to lose. I want you all to generate many many pips.

Thx Reno
  • #48
  • Sep 21, 2020 5:26am Sep 21, 2020 5:26am
AUDCAD 4H looks to be a possible set-up. I will trade it if price closes below the 34 EMA. 50 CCI is not quite to zero yet.

Thx Reno
  • #49
  • Edited 11:57am Sep 21, 2020 5:30am | Edited 11:57am
Ghost on 50cci by Dr Bob

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Some original post

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  • #50
  • Sep 21, 2020 5:37am Sep 21, 2020 5:37am
Quoting Sang.Real
{quote} Melloyello, I have been looking at the 34EMA as a stop placement when in a trade. If price closes above the 34 when selling or below when in a buy I would then exit the trade. I have manually backtested this and get better rides sticking to the close above or below the 34 EMA. The areas where price consolidates or retraces a long move I would normally get stopped out and miss some good moves. With the 34 ema even though you give back some pips sometimes it still I believe gives better overall results. I will post observation on fake move...
Sang Real you can tweak the rules to your liking. Most of what I do is likely going to be conservative. You place your stop where you think it's best. You've been winning very well. Just make sure you use a stop. You're doing great.

Thx Reno
  • #51
  • Sep 21, 2020 5:39am Sep 21, 2020 5:39am
Current set now on the CADCHF 4H. It is range bound at the moment. Don't forget to set a stop loss.

Thx Reno
  • #52
  • Edited 10:11am Sep 21, 2020 5:41am | Edited 10:11am
EGBP
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  • #53
  • Sep 21, 2020 5:48am Sep 21, 2020 5:48am
Quoting Sang.Real
{quote} Before taking any trades, I usually do a quick check with H1 TF. Using Dr Bob 5034 technique I will elaborate further with chart, as it is easier to explain.
Sang Real this is trading, you put all the odds in your favor that you can.

Thx Reno
  • #54
  • Edited 10:03am Sep 21, 2020 6:04am | Edited 10:03am
ECAD
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  • #55
  • Sep 21, 2020 6:12am Sep 21, 2020 6:12am
Quoting Sang.Real
{quote} Recall what is DrBob 5034 technique means : "Another setup DrBob created and uses is the 5034. In this case, the 50CCI crosses up (down) above (below) the ZL at around the same time that the price bar crosses and closes up (down) above (below) the 34EMA. In other words, the 50CCI and the 34EMA are in agreement. Be this the time to say that 14CCI must be also above (below) the ZL. You will notice many times that a 5034 setup is the beginning of a new trend; almost every great move begins with a 5034." {image}
Sang Real, I have to agree with Dr. Bob. Maybe he's the author of this strategy. I do not know. I read it online but there was no name. The author is an options trader. I think you and I will continue to use it. It's odd you and I use the 25 CCI instead of the 14.

Thx Reno
  • #56
  • Sep 21, 2020 6:19am Sep 21, 2020 6:19am
Sang Real, all 3 of your trades appear to be winners. The first one is fine. Very good. The other two are not good because you are entering when both CCI's are already below the zero line. Can't take trades until the 25 CCI crosses, then the 50 CCI, and then price crosses the 34. I don't want anyone on here confused. Double check the rules my friend. You can trade that way if you want. I keep things simple.

Thx Reno
  • #57
  • Sep 21, 2020 6:24am Sep 21, 2020 6:24am
The 14 CCI is too quick for this strategy. The rules for this system are on page 1. The thread is very short and an easy read. Understand the rules and don't forget your stop losses.

Thx Reno
  • #58
  • Sep 21, 2020 6:36am Sep 21, 2020 6:36am
Good Morning Traders, I made an edit to the rules a few hours ago concerning the 50 CCI. If you have any questions about the rules, do not hesitate to ask and I will reply just as soon as I can.

Thx Reno
  • #59
  • Sep 21, 2020 7:17am Sep 21, 2020 7:17am
Quoting melloyello
Good Morning Traders, I made an edit to the rules a few hours ago concerning the 50 CCI. If you have any questions about the rules, do not hesitate to ask and I will reply just as soon as I can. Thx Reno
Hi Reno,
Is this the edit to the rule: "BUY- 25 CCI closes above zero, for 2 periods or bars {avoiding whipsaw}... after that... 50 CCI closes above zero, or has a strong ascending slope towards zero... after that price MAY close higher than the 34 EMA. If it does, I would buy and place stop loss below nearest fractal low."?

Thanks.
  • #60
  • Sep 21, 2020 7:22am Sep 21, 2020 7:22am
Quoting MidnightRun
{quote} Hi Reno, Is this the edit to the rule: "BUY- 25 CCI closes above zero, for 2 periods or bars {avoiding whipsaw}... after that... 50 CCI closes above zero, or has a strong ascending slope towards zero... after that price MAY close higher than the 34 EMA. If it does, I would buy and place stop loss below nearest fractal low."? Thanks.
Yes it is the edit, gonna tweak to that extent. Sometimes, it will make a huge difference on any TF. We'll see if it's a bit better.

Thx Reno
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