Cornflower Hourly System | Page 13 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Cornflower EA 69 replies

Simple Hourly System 4 replies

Special request: Can someone make a Cornflower EA for us? 24 replies

cornflower mq4 request. 1 reply

"Bagovino Method" VS "Cornflower Hourly System" 16 replies

Attachments: Cornflower Hourly System
Exit Attachments

Cornflower Hourly System

  • #241
  • Jun 4, 2007 10:56pm Jun 4, 2007 10:56pm
A: a line drawn at a 30 degree angle:

http://img514.imageshack.us/img514/5...y060407zz5.gif
  • #242
  • Jun 5, 2007 12:41am Jun 5, 2007 12:41am
Quoting bundubill
Hi buangcla,

Can I ask what the green indicator on your chart is and why you use it
Cheers
That indicator is called FX_Sniper's_LSMA, I think it's just a moving average altered to monitor the current trend. I use it to support the EMA's although it is not quite necessary, I just want to be sure.
  • #243
  • Jun 5, 2007 12:47am Jun 5, 2007 12:47am
Quoting Sejake
Nice work on the 20 pips Buangcla !
I took the 30 minute entry on Euro last night which worked well for +35.
Hope everyone has had a profitable start to the week.

Good Trades......
Thanks Sejake,

You too man, nice job. I love this thread, the people are so nice.
  • #244
  • Jun 5, 2007 1:54am Jun 5, 2007 1:54am
Here is a question I received in a PM:

Quote
Hi Felicia

Thanks for sharing the system. Need some advice from you.

How do you judge whether the uptrend or downtrend is still on-going prior your entry at the retracement at 12ema or 24ema??? when the ema 12 turns flat???

I can't bring myself for entry cos I don't know when to get out the trade....

Thanks!


The trend is still in tact when the EMAs are still in a perfect order. When the 8 crosses the 12, the trend has paused. When the 12 has crossed the 24, the trend may be ending. It is OK to enter on a pullback so long as these conditions don't exist.

As far as exits go, the 12/24 cross is a firm exit. Otherwise, it's up to the trader. You can use classical support and resistance. You can measure the average daily range of the pair to determine where the move might run out of steam. You might perhaps have a daily pip quota you shoot for, exiting when you have reached it. Others use fibonacci and pivot points. It is up to you to find exit criteria that make sense.

Good luck!
  • #245
  • Jun 5, 2007 2:30am Jun 5, 2007 2:30am
http://i169.photobucket.com/albums/u...updatecorn.jpg


Another perfect setup on the GBP/USD, earned another 20 pips today. Oh Felicia you are a God. Thank you
  • #246
  • Jun 5, 2007 6:24am Jun 5, 2007 6:24am
EurCan worked well overnight for +54 pips......

Dang, I'm racking up quite the number of cornflower trades!
  • #247
  • Jun 5, 2007 7:18am Jun 5, 2007 7:18am
Quoting Sejake
EurCan worked well overnight for +54 pips......

Dang, I'm racking up quite the number of cornflower trades!
dang looks like your in for a winning streak, good job


happy trading and mabuhay..
  • #248
  • Jun 5, 2007 8:45am Jun 5, 2007 8:45am
Thx lots for sharing your method....

just learned cornflower method 1hr before the downfall of GBP/JPY!!


15M chart to make entry...short@ 242.46

2HR chart to closed entry...closed 241.56(10pips + 2hrs chart of 72EMA)


managed to grab 90pips....

thx lots....
Never greed & never regret cuz tomorrow is another day!!
  • #249
  • Jun 5, 2007 10:40am Jun 5, 2007 10:40am
Somebody jinxed me..... (just kiddin). Was stopped out of a small USDCAN long 30min entry..... stop just a bit 2 tight.... Of course now its back where I entered earlier.....
  • #250
  • Jun 5, 2007 4:14pm Jun 5, 2007 4:14pm
Quoting MooMoo
Thx lots for sharing your method....

just learned cornflower method 1hr before the downfall of GBP/JPY!!


15M chart to make entry...short@ 242.46

2HR chart to closed entry...closed 241.56(10pips + 2hrs chart of 72EMA)


managed to grab 90pips....

thx lots....
Naughty trade, my friend. The 15 minute crosses are only to be taken when they accord with the hourly picture. I'm glad it worked out for you, but more often than not, they don't.

Quoting Sejake
Somebody jinxed me..... (just kiddin). Was stopped out of a small USDCAN long 30min entry..... stop just a bit 2 tight.... Of course now its back where I entered earlier.....
I'm assuming you took the 30M long entry. Your stop should be at least below the entry candle. This was a risky one to take. USDCAD has been in a massive downtrend.

On the hourly, USDCAD is now hovering above the 72 EMA. No longs are valid until the shorter EMAs cross above it. The 30M paints a different picture. Be warned: the USDCAD has been the most trending pair in the market. Trade long at your own risk. If anything, we should be waiting for the next short setup.
  • #251
  • Jun 5, 2007 4:21pm Jun 5, 2007 4:21pm
Quoting buangcla

Another perfect setup on the GBP/USD, earned another 20 pips today. Oh Felicia you are a God. Thank you
Surely not! But I am glad the system is working for you. It certainly is for me.
  • #252
  • Jun 5, 2007 10:29pm Jun 5, 2007 10:29pm
Hi Lever70,
I have been lurking on this thread for a little while reading and learning, wanted to ask a question about euro/usd right now at 3:26am gmt, the euro seemed to bounce off the 24ema on the 1hr chart at the 01:00gmt candle, does this constitute and entry as all ema are pointing in the right direction, and looking at price we had a bullish engulfing candle.
Just asking as to clarify whether i am seeing things how they should be.
Cheers
Geoff
  • #253
  • Jun 5, 2007 10:41pm Jun 5, 2007 10:41pm
Quoting geoffrod
Hi Lever70,
I have been lurking on this thread for a little while reading and learning, wanted to ask a question about euro/usd right now at 3:26am gmt, the euro seemed to bounce off the 24ema on the 1hr chart at the 01:00gmt candle, does this constitute and entry as all ema are pointing in the right direction, and looking at price we had a bullish engulfing candle.
Just asking as to clarify whether i am seeing things how they should be.
Cheers
Geoff
Yes. And you don't actually have to wait for the bounce, especially in a strong trend like this. You could have simply placed an entry order at the 24 EMA.
  • #254
  • Jun 5, 2007 10:46pm Jun 5, 2007 10:46pm
http://img61.imageshack.us/img61/904...a060507uw4.gif


http://img528.imageshack.us/img528/9...a060507my8.gif

Two examples of how a move counter to the trend can stop cold in the 72 EMA area.
  • #255
  • Jun 5, 2007 11:03pm Jun 5, 2007 11:03pm
Hi Lever70,
Thanks for the prompt reply,
Another question, regarding the usd/cad, on the 1hr chart the downtrend looks to be resuming,but price has gone past the ema's by a way now and on the 30min it was definitely closed thru the 72ema with authority but it seems also to me to be too far past now, so if that is true the right course of action would be to wait for a retracement to the 1hr ema's (pullback trade)???
Reason i ask is my gut tells me that is the best thing to do, as i feel it has gone to far past to hop on now.
cheers
geoff
  • #256
  • Jun 5, 2007 11:09pm Jun 5, 2007 11:09pm
Quoting geoffrod
Hi Lever70,
Thanks for the prompt reply,
Another question, regarding the usd/cad, on the 1hr chart the downtrend looks to be resuming,but price has gone past the ema's by a way now and on the 30min it was definitely closed thru the 72ema with authority but it seems also to me to be too far past now, so if that is true the right course of action would be to wait for a retracement to the 1hr ema's (pullback trade)???
Reason i ask is my gut tells me that is the best thing to do, as i feel it has gone to far past to hop on now.
cheers
geoff
This is another example of a countertrend move stopping around the 72 EMA:

http://img61.imageshack.us/img61/460...a060507sg3.gif

This is when it would be good to use the 5M chart to look for a short setup. You can wait for a pullback on the H1, but as you might not get one. The 5M can help you get in on the trend if you are too late to enter on the hourly. See posts 71, 89, and 97.
  • #257
  • Jun 5, 2007 11:35pm Jun 5, 2007 11:35pm
I see it now
The 2:30gmt candle on the 5min chart pulled back to the 21ema and then off it went,
excellent.
cheers
geoff
  • #258
  • Jun 5, 2007 11:43pm Jun 5, 2007 11:43pm
Quoting geoffrod
I see it now
The 2:30gmt candle on the 5min chart pulled back to the 21ema and then off it went,
excellent.
cheers
geoff
Now you're really living.

It's also bouncing off the 21 EMA as I type this.
  • #259
  • Jun 5, 2007 11:58pm Jun 5, 2007 11:58pm
I continue to be amazed at how many people are studying this system and trading it with success. I think the last 6+ weeks of posts and trades show that trading need not be complicated. Identify a trend, wait for a good entry point, and trade. Hold until the trend is no longer in place, and then on to the next trade.

I would like everyone to have a look at Kharvell's trading journal, which has now become a laboratory for the Cornflower method as combined with Jacko's trend-following techniques. Kevin started using Cornflower in April and has had some amazing success using the method. He uses low leverage and trades multiple positions in different pairs, as well as multiple entries on the same pair when a new pullback presents itself. His trading exemplifies how I think Cornflower ought to be traded from a longer-term perspective:

http://www.forexfactory.com/showthre...=19102&page=21

The only difference between his and my way of trading Cornflower is that he does not take entries that are out of sync with the long-term trend as exemplified by a daily chart, whereas I will take such entries. For instance, he did not trade EURUSD and GBPUSD in May because the downtrend in the hourlies did not accord with the uptrend in the dailies. This is perfectly valid, and one can expect much larger gains when the hourly is in sync with the daily. Study and learn from his trades.
  • #260
  • Jun 6, 2007 12:07am Jun 6, 2007 12:07am
Hi Felicia ... Great system .. starting to work for me now ...

One question ...

I'm entering on 5 minute charts confirming the 30 min or 1 hour cornflower entry ...

But which time-frame should I use for exit?

Quite often the 12/24 cross happens on the 5 min charts ... but the 30min and/or 1 hour charts still show a healthy trade in play ..

Regards,

Gary W.
1 trader viewing now