My broker is GMT +2 so I have to wait another hour before my 4 hour bar closes. Well, let's see how it goes. Also, at the moment the grey line is still above the green line on my Volatmeter. Is yours different?
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Joined May 2007
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Status: Trend Trader
|147 Posts
Here is a eurjpy pair. For example purpose only. There was a sell trade triggered that was good for 85 pips which means the first 2 positions were hit and the third position closed at breakeven. Look at where the sell reversed. I have placed an arrow there. Weekly Support 3.
Next was a buy which went over 150 pips helping us get out of all 3 positions. After that, notice how the price plays near the weekly pivot for long hours and then finally broke it giving us a third sell signal little later. This signal is still active according to the rules.
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Joined May 2007
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Status: Trend Trader
|147 Posts
My friend,
With a little effort you can save a lot of your time and others. Here is the best I can do for you. Take a look at the image. Please set your indicator to true for weekly and false for others under the INPUT tab. It will show up.
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Joined May 2007
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Status: Trend Trader
|147 Posts
I would say, I am a medium term trader. Yes, I have checked it in the Daily time frame and it works better than 4 hour for every currency. For example the last buy trade on gbpjpy is up 800 pips or the EURCHF which is up nearly 600 pips.
Yet, I trade the 4H because the daily is a bit longer for me. I like to watch the markets as well as flex my muscles as and when I want and the 4H lets me do that comfortably. Maybe, someday I will move to the daily.
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Joined May 2007
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Status: Trend Trader
|147 Posts
Here is a random daily chart for you from eurusd. You can see both the entry as well as the re-entry (The big rectangle box with multiple re-entries). A 900 pips move up.
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Joined May 2007
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Status: Trend Trader
|147 Posts
The same as 4 hours settings. The chart was an example of how the system works in the daily time frame as in 4H. It was a response to the previous post.
