Cornflower Hourly System | Page 23 | Forex Factory

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Cornflower Hourly System

  • #441
  • Jun 24, 2007 10:32am Jun 24, 2007 10:32am
Quoting yen44x
Euphoricism,

Here's the GBP-USD 60-min chart from this week that might help.

There's a definite trend established that offers several opportunities to enter at a pullback to between the 12 & 24 EMA, all of which appear to be winnable trades.
Hei yen44x,

nice setup there on 60M chart ... i missed some trades on GU this week, i should learn a lot from u again about entry (pullback between EMA's 12 & 24 )... btw thx for u'r chart, that's cool

Happy weekend ...
  • #442
  • Jun 24, 2007 10:51am Jun 24, 2007 10:51am
I have applied Fibbonacci numbers to Felicia's system and have been very pleased. The system interacts beautifully with the Fibo numbers 5 13 21 55 89 144. Thanks Felicia and Thanks Leneordo Fibbonacci. Viva Italia!
  • #443
  • Jun 24, 2007 1:51pm Jun 24, 2007 1:51pm
Irish,

In what fashion do you apply Fib numbers? For example are using simple retracement from previous hi/lo's? Or are they bands? Just curious. Thanks for your time.

Joe


Quoting IRISH37
I have applied Fibbonacci numbers to Felicia's system and have been very pleased. The system interacts beautifully with the Fibo numbers 5 13 21 55 89 144. Thanks Felicia and Thanks Leneordo Fibbonacci. Viva Italia!
  • #444
  • Jun 24, 2007 1:52pm Jun 24, 2007 1:52pm
Thanks yen44x so much for your example. It's very helpful!

Quoting yen44x
Euphoricism,

Here's the GBP-USD 60-min chart from this week that might help.

There's a definite trend established that offers several opportunities to enter at a pullback to between the 12 & 24 EMA, all of which appear to be winnable trades.
  • #445
  • Jun 24, 2007 2:10pm Jun 24, 2007 2:10pm
Quoting jsmanuse
Irish,

In what fashion do you apply Fib numbers? For example are using simple retracement from previous hi/lo's? Or are they bands? Just curious. Thanks for your time.

Joe
I mainlly trade the Cable. If you look at a weekly 60m chart you can see that price when trending almost always pulls back to a fibo moving average--the consistency is remarkable. I monitor my trades on a 10m chart--again the 5ema is a great guide while in a trade. I use the fib numbers with price support and resistance . I have found this to be quite accurate. Also it seems to work in any time frame. However keep in mind that this is a trend-following system.
  • #446
  • Jun 24, 2007 2:20pm Jun 24, 2007 2:20pm
I have been reluctant to post to the thread for fear of complicating Felicia's elegant system - so in the spirit of not wanting to add something irrelavant, the example below shows something i've been using to identify potential entry points. I first mark the 1h chart with the significant red vertical bar to indicate the retracement close that i'm watching... during a trend. Then I mark the same line on the shorter time frames. The horizontal bar shows the opening price of the following bar on the 1h chart. I then mark that on the shorter time frames. I have found that this shows important information about support or resistance developing around the key MA's.

In the example I chose, the trend for AUDCAD is up so i'm inclined to pass on the sells. I'd be waiting for a long entry, however this is simply my personal trade strategy. Hope this is useful to the system.
Attached Image (click to enlarge)
Click to Enlarge Name: audcad pullback setup.jpg Size: 62 KB
  • #447
  • Jun 24, 2007 11:54pm Jun 24, 2007 11:54pm
Hi, Felicia. Hi, everyone. Hope everyone is doing fine. Just giving everyone a heads-up on Eurusd. Not quite sure on long term trend but hopefully we get some points.

Hope you have a good day.

James "stickers"
Attached Image
  • #448
  • Jun 25, 2007 2:40am Jun 25, 2007 2:40am
Hi all, and let me add my thanks to Felicia for a great system, and ongoing patience in giving help to everyone.
Now I have something to contribute: have a look at GBP/CHF - a beautiful Cornflower trade just setting up on the hourly, with a pull-back to the 24 ema and a nice steep downtrend from Friday. Yes, I know it is against the carries, but there is a double top from Friday's high on the daily, and a weekly pin-bar (see James 16 thread for first flagging this) suggesting a move down. Sorry, I haven't figured out how to post charts, but it is pretty straightforward. Oh, and a shooting star on the 15 minute chart, and also the 4 hourly shows a downtrend. Anyway, I'm short at 2.4596.
Now we'll see - hope I don't end up with too much egg on my face!
  • #449
  • Jun 25, 2007 2:46am Jun 25, 2007 2:46am
Quoting starfire
Now we'll see - hope I don't end up with too much egg on my face!
Eggs on the face are delicious. Trust me I know!

FXS
  • #450
  • Jun 25, 2007 4:00am Jun 25, 2007 4:00am
These are swiss eggs too - especially delicious. The Swissy is doing the same - turned around very neatly at the 60 min 24 ema!
  • #451
  • Edited 6:41am Jun 25, 2007 6:30am | Edited 6:41am
aargh i need to stop confusing my systems. Done so much reading over the last week everything is jumbling together. Thanks for the graph yen, helped tons
  • #452
  • Jun 25, 2007 6:44am Jun 25, 2007 6:44am
Quoting stickers
Hi, Felicia. Hi, everyone. Hope everyone is doing fine. Just giving everyone a heads-up on Eurusd. Not quite sure on long term trend but hopefully we get some points.

Hope you have a good day.

James "stickers"
Nicely done, its done exactly as you said.
  • #453
  • Jun 25, 2007 8:39am Jun 25, 2007 8:39am
I'm failing at my stop/losses. I guess I'm moving them to BE too early. Got stopped out of the euro/usd at BE just before it took off. Any tips for a newbie?
  • #454
  • Jun 25, 2007 8:50am Jun 25, 2007 8:50am
GBP/CHF and USD/CHF have both pulled back almost to 24 ema, with longer MAs showing a nice strong downtrend still in place - could take another short entry at this point.
  • #455
  • Jun 25, 2007 8:58am Jun 25, 2007 8:58am
Euphoricism - I'm been wrestling with this one for a couple of years now. Bottom line: there is no easy answer, and no way you will avoid getting stopped out (short of not setting stops - DON'T try it!). I have decided that I either have to go for a short nippy trade, or a good long one - I have found that moving stops to breakeven mostly just stops me getting any profit, so when I'm feeling nervous about the market, I just prefer to take a small profit and run! Good advice I think is, especially while you are learning (and that is definitely still me), set modest profit goals and don't mess with your stops. But other people will maybe advise differently, and in the end it is up to you to work out your own comfort zone.
  • #456
  • Jun 25, 2007 11:13am Jun 25, 2007 11:13am
Quoting starfire
GBP/CHF and USD/CHF have both pulled back almost to 24 ema, with longer MAs showing a nice strong downtrend still in place - could take another short entry at this point.
owch.... I took the short too, so dont feel too bad.
  • #457
  • Jun 25, 2007 9:07pm Jun 25, 2007 9:07pm
Short on GBP/CHF is still looking good, Euphoricism! I got out of one position at a profit, re-entered at the next test of 24 ema, and am currently in profit. TP level not hit - maybe I was too greedy? but that is a lovely downtrend on the hourly, and the 4 hourly, and it is a descending triangle in a downtrend, and looks like it is just wanting to fall down the hole. Could be another bounce up before it goes, though - stop-running or what ever - but I am expecting a new low sometime today - TP before 2.4500, just to be safe.
  • #458
  • Edited Jun 26, 2007 1:46am Jun 25, 2007 10:29pm | Edited Jun 26, 2007 1:46am
If you were awakened by a lot of noise in the middle of last night, that was me getting my *@% kicked due to Long positions on EUR/JPY & GBP/JPY. Ouch!

On a brighter note, one Short position on GBP/CHF reached the 40-pip target & the second position is currently up 39 pips with a limit of 2.4515. Short positions on EUR/CHF & USD/CHF are also up currently , but the night is young.
Greetings from Guanajuato, Mexico
  • #459
  • Edited 2:18am Jun 26, 2007 1:44am | Edited 2:18am
What a difference a few hours makes . . . my *@% is feeling much better now.

I closed out 1 position on USD-CHF at +20 pips & the other at +30, 1 position on EUR-CHF at +20 pips, and 1 position on GBP-CHF at +50 pips. All these were Short trades.

Here's the GBP-CHF chart:
Attached Image
Greetings from Guanajuato, Mexico
  • #460
  • Jun 26, 2007 1:56am Jun 26, 2007 1:56am
Quoting yen44x
What a difference a few hours makes . . . my *@% is feeling much better now.

I closed out 1 position on USD-CHF at +20 pips & the other at +30, 1 position on EUR-CHF at +20 pips, and 1 position on GBP-CHF at +50 pips. All these were Short trades.

Here's the GBP-CHF chart:
do u think gbp/chf will go down further?
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