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Cornflower Hourly System

  • #461
  • Jun 26, 2007 2:02am Jun 26, 2007 2:02am
Quoting sepak.orang
do u think gbp/chf will go down further?
Based on the Cornflower System as I understand it, everything is still pointing south.

I have a new Short trade ready to go if there's a slight pullback to 2.4531.
Greetings from Guanajuato, Mexico
  • #462
  • Jun 26, 2007 2:07am Jun 26, 2007 2:07am
Quoting yen44x
Based on the Cornflower System as I understand it, everything is still pointing south.

I have a new Short trade ready to go if there's a slight pullback to 2.4531.
looks like there is strong up move right now.
  • #463
  • Jun 26, 2007 2:11am Jun 26, 2007 2:11am
Quoting sepak.orang
looks like there is strong up move right now.
Why didn't you tell me that 15 minutes ago?

Oh well, time will tell.
Greetings from Guanajuato, Mexico
  • #464
  • Jun 26, 2007 2:29am Jun 26, 2007 2:29am
Quoting yen44x
Why didn't you tell me that 15 minutes ago?

Oh well, time will tell.
hopefully it will comeback down around 12-24 area...
  • #465
  • Jun 26, 2007 2:35am Jun 26, 2007 2:35am
Well, reached my TP (short) on this - all exit on limit around 2.4515 (2 microlot positions on Oanda and 2 minilot positions with CMC). Now, because I have not been doing so well lately, I want to pat myself on the back for 2 well-considered entries and also setting the TP and SL right - as you all know, not easy to get it all right! (got 53, 40 & 30 pips on 3 Oanda trades, including last night, and 80 & 50 on 2 CMC trades (1 entry from last night, and another on one of today's bounces) - my accounts are now looking a bit healthier).
My biggest problem is going for cowboy trades and throwing out the rules, so now I resolve to wait for another good set-up for a short (expect another retracement rally, started but not yet run out of steam) in context of overall downtrend, which still looks like the longer-term (well, M/T) trend.
I agree with you, Yen, about your entry/exit levels.
Good luck to you all!
  • #466
  • Jun 26, 2007 2:43am Jun 26, 2007 2:43am
Quoting starfire
Well, reached my TP (short) on this - all exit on limit around 2.4515 (2 microlot positions on Oanda and 2 minilot positions with CMC).
Very nice trading Starfire!

In regard to my perhaps ill-timed re-entry on GBP-CHF, it brings to mind that Felicia mentions the value of entering trades "during the quiet of the Asian session."

Since this is a demo account, I ignored that advice, but obviously it has value.
Greetings from Guanajuato, Mexico
  • #467
  • Jun 26, 2007 5:43am Jun 26, 2007 5:43am
Hi there

I have been studying Conflower for a while now, but am still sketchy on some of the details.

Right now there seems to be a good setup on the H4 EURJPY. the price has rebounded nicely of the 72. Hower in all the lower timeframes, M30 etc the price is well below the 72

Does this mean the long trade should not be taken.?

many thanks
  • #468
  • Jun 26, 2007 5:56am Jun 26, 2007 5:56am
Glad to see the thread active in my absence. It looks like there are some good discussions going on. Keep it up. I may not return until next week as I tend to some personal business. But I wish you all well.
  • #469
  • Jun 26, 2007 8:42am Jun 26, 2007 8:42am
I have some questions re: the pullback trade on the H1 timeframe. Perhaps (in the absence of the author) someone will help me out.

Reference is made to a pullback "between the 12/24 emas". What about pullbacks past the 24 (or even past the 72). Are these still tradable?

When the retracement does come, are we entering after a closed candle past the 12/24 or at the actual cross of price/ema?

Please excuse me if these questions have already been answered. I actually have read this entire thread but sometimes my mind is like a steel watchacallit
Old Benjamin was right
  • #470
  • Jun 26, 2007 9:33am Jun 26, 2007 9:33am
Quoting TradeToFly
Hi there

I have been studying Conflower for a while now, but am still sketchy on some of the details.

Right now there seems to be a good setup on the H4 EURJPY. the price has rebounded nicely of the 72. Hower in all the lower timeframes, M30 etc the price is well below the 72

Does this mean the long trade should not be taken.?

many thanks
The answer is in post #1 of this tread.
http://www.forexfactory.com/showpost...00&postcount=1
Greetings from Guanajuato, Mexico
  • #471
  • Jun 26, 2007 10:30am Jun 26, 2007 10:30am
Quoting Lou G
I have some questions re: the pullback trade on the H1 timeframe. Perhaps (in the absence of the author) someone will help me out.

Reference is made to a pullback "between the 12/24 emas". What about pullbacks past the 24 (or even past the 72). Are these still tradable?

When the retracement does come, are we entering after a closed candle past the 12/24 or at the actual cross of price/ema?

Please excuse me if these questions have already been answered. I actually have read this entire thread but sometimes my mind is like a steel watchacallit
I'll just refer to Felicia's posts since she created the system. She addresses pullbacks to the 72 EMA in these posts:
http://www.forexfactory.com/showpost...0&postcount=29

http://www.forexfactory.com/showpost...5&postcount=41
Greetings from Guanajuato, Mexico
  • #472
  • Jun 27, 2007 12:27am Jun 27, 2007 12:27am
Hello Felicia,

I've been reading this thread with growing interest over the last few days. I have also been reading Jacko's and Kharvell's trading journal threads, both of which seem to dovetail nicely with Cornflower (or vice-versa?). I really like the simplicity I see here and I look forward to incorporating this method into my trading.

Kharvell's Thread: (The Cornflower part starts on page 21, post #302)
http://www.forexfactory.com/showthre...=19102&page=21

Jacko's Thread: (the first page is about all you need...great stuff!)
http://www.forexfactory.com/showthread.php?t=27286

I think anyone here who finds the Cornflower method appealing to their style of trading will benefit from reading the two journals I've mentioned above. In particular, after reading Jacko's method, I became even more interested in Cornflower because I believe the method you've outlined here has the potential to enable smaller traders to steadily hone their trading skills and increase their equity base so they can progress towards a longer-term trend trading methodology such as Jacko's. At least that's MY personal goal...

So, thank you very much for sharing your expertise and insights and for sharing Cornflower with us!
  • #473
  • Jun 27, 2007 1:24am Jun 27, 2007 1:24am
i've testing this system but still got some confusion. please see the picture
Attached Image (click to enlarge)
Click to Enlarge Name: h1.jpg Size: 44 KB
Attached Image (click to enlarge)
Click to Enlarge Name: m30.jpg Size: 45 KB


can anyone suggest what to do if the chart is like this?
thanks
  • #474
  • Jun 27, 2007 1:40am Jun 27, 2007 1:40am
Quoting eskelapa-forex
i've testing this system but still got some confusion. please see the pictureAttachment Attachment

can anyone suggest what to do if the chart is like this?
thanks
If you went Short, celebrate.

If you went Long, curse.

Or, wait for the 8, 12, & 24 EMA's to cross the 72 EMA, & then look for a pullback per the rules of the system.
Greetings from Guanajuato, Mexico
  • #475
  • Jun 27, 2007 1:50am Jun 27, 2007 1:50am
well u are correct. it is going down. right after i post that. o my god....
i am missing such a good trade..
  • #476
  • Jun 27, 2007 3:27am Jun 27, 2007 3:27am
Quoting eskelapa-forex
well u are correct. it is going down. right after i post that. o my god....
i am missing such a good trade..
Hai eskelapa-forex,

Don't worry about that, there's plenty of chance to get on trade ... just be patient, wait for pullback then enter the trade and don't forget to use cornflower entry criteria

Happy Investing ...
  • #477
  • Jun 27, 2007 3:31am Jun 27, 2007 3:31am
Quoting MizZu_X7
Hai eskelapa-forex,

Don't worry about that, there's plenty of chance to get on trade ... just be patient, wait for pullback then enter the trade and don't forget to use cornflower entry criteria

Happy Investing ...
lol..

thanks..
  • #478
  • Jun 27, 2007 6:15am Jun 27, 2007 6:15am
I think this is a very good system, worth-trying.. Thnks for sharing!


Leo2006
Forex has never been this SO exciteD !!
  • #479
  • Jun 27, 2007 12:40pm Jun 27, 2007 12:40pm
I thinks its time for me to have a new demo account.

I'm going to get this, eventually! Setting SLs is killing me. I always seem to get stopped right before it takes off.
  • #480
  • Edited 8:45pm Jun 27, 2007 8:34pm | Edited 8:45pm
I made +65 pips on a long Eur/Jpy trade today. I had my charts setup for Cornflower but I actually took the signal based on what looked to be a good entry for a long position trade with an inverted hammer candle forming on the day chart. When I saw that, I started looking down into the lower timeframes and saw literally EVERY ONE showing a solid upward trend with current upward price action. I mention it here because its another example of #1. The value of trading WITH the trend... and #2. The value of using multiple time frames to confirm price action and the overall trend direction.

I also took +13 pips on a Usd/Jpy Short and that trade WAS a true Cornflower pullback exactly to the 12 EMA on the H1 chart. This setup was also confirmed by a spinning top candle at 12:00 noon EST. The M30 chart had a near identical setup with pullback to the 24 EMA line. I entered short at 122.50 and the move was over in about 10 minutes. The move went for +20 pips and I exited manually for +13 pips after retracement began. My charts are posted below.

I was very pleased to have some good results today and I look forward to posting more as I go along. The trend definitely IS your friend...just gotta find the right place to get onboard. Cornflower seems to be a winner where that is concerned! Today is my first day of trading Cornflower (and keeping Jacko's method in mind as well) and I'm up +78 pips for the day. Thanks Felicia!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur-jpy1.jpg Size: 51 KB
Click to Enlarge Name: usd-jpy1.jpg Size: 54 KB
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