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Mouteki Trading

  • #4,221
  • Jun 26, 2007 3:06am Jun 26, 2007 3:06am
Greetings. First time on this forum. Very interesting and informative. I am still somewhat confused with the Mouteki method and am seeking an explanation of this method. Thank you.
  • #4,222
  • Jun 26, 2007 3:16am Jun 26, 2007 3:16am
Quoting forexnetworth
Greetings. First time on this forum. Very interesting and informative. I am still somewhat confused with the Mouteki method and am seeking an explanation of this method. Thank you.
I take it that you have read the stuff in the Mouteki Material thread already. Look at post #1978 for the simplest of explanations of this method and a chart to illustrate in post #1980. What is it that you're particularly confused about?

Take Care
Habeeb
Keeping it Simple
  • #4,223
  • Jun 26, 2007 12:22pm Jun 26, 2007 12:22pm
Could be getting a Mouteki long trigger soon. If price close above the top trendline, we go long. That's just one part of the Mouteki Method I've changed. I prefer to see a close on the other side of the trendline, instead of an open. Just gives more strength to the break of a trendline ... like a confirmation ... "this line is now broken".
Ofcourse there are some who are in a long position already because of the Pin Bar.
Projected target is roughly 100 pips, so I'm just gonna let this one run. I could be wrong on this, but if 238.00 is broken, we could see the next high of 239.17 being tested, quickly.
For now, we're waiting patiently.
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Keeping it Simple
  • #4,224
  • Jun 27, 2007 2:53am Jun 27, 2007 2:53am
Forgot to mention that if we get a close below the bottom trendline, we look to sell. I don't enter immediately. First got to look at the bigger picture.
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Keeping it Simple
  • #4,225
  • Jun 27, 2007 2:59am Jun 27, 2007 2:59am
Looking at the daily chart, the top of our previous channel, is now support. It'd probably be safer to enter short on the break of the bar/candle that closed below the 4hr support trendline.
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Keeping it Simple
  • #4,226
  • Jun 27, 2007 6:52am Jun 27, 2007 6:52am
Quoting habeeb
Looking at the daily chart, the top of our previous channel, is now support. It'd probably be safer to enter short on the break of the bar/candle that closed below the 4hr support trendline.
Habeeb, good stuff...i'm a bit lost thought...did u mean "It'd probably be safer to enter short on the break of the bar/candle that closed below the daily support trendline."
  • #4,227
  • Jun 27, 2007 7:12am Jun 27, 2007 7:12am
Quoting sp123
Habeeb, good stuff...i'm a bit lost thought...did u mean "It'd probably be safer to enter short on the break of the bar/candle that closed below the daily support trendline."
Hi sp, and welcome to the Mouteki Thread. I decided to hijac this thread while nobody's watching.
If you were going to enter from a daily chart perspective, then I'd say yes. But since Mouteki uses 4hr, we use 4hr. Just showed the Daily chart to show that we don't just jump into the trade when the new bar/candle opens. You have to be aware of the bigger picture too. Price is stalling on the Daily support. Got a feeling that this one's going to go up.

C ya around
Habeeb
Keeping it Simple
  • #4,228
  • Jun 27, 2007 10:04am Jun 27, 2007 10:04am
Quoting habeeb
I take it that you have read the stuff in the Mouteki Material thread already. Look at post #1978 for the simplest of explanations of this method and a chart to illustrate in post #1980. What is it that you're particularly confused about?

Take Care
Habeeb
Greetings Habeeb. Thank you for your direction. I
i have reviewed all of Mouteki's Material and visited your post at 1978 and 1980. I was using a similar method (different trendlines) with great success on a 1 hour chart that pulled in an average of 30 pips daily. I will use the Mouteki 4 hour chart with the TD Demand and Supply lines... From what I understand, the profit potential is tremendous. A final question...does anyone use this method with Fibonacci retracements/extensions? Thank you.
  • #4,229
  • Jun 27, 2007 10:17am Jun 27, 2007 10:17am
Quoting forexnetworth
Greetings Habeeb. Thank you for your direction. I
i have reviewed all of Mouteki's Material and visited your post at 1978 and 1980. I was using a similar method (different trendlines) with great success on a 1 hour chart that pulled in an average of 30 pips daily. I will use the Mouteki 4 hour chart with the TD Demand and Supply lines... From what I understand, the profit potential is tremendous. A final question...does anyone use this method with Fibonacci retracements/extensions? Thank you.
Hi forexnetworth,
A quick answer ... yes.
Mouteki can be used on all timeframes. But for the purpose of this thread, I'm sticking to the 4hr.

Take Care
Habeeb
Keeping it Simple
  • #4,230
  • Jun 27, 2007 5:18pm Jun 27, 2007 5:18pm
Up it went ... from right off the Daily channel support. We now have a long signal. Some really crazy action. Will be watching the lower timeframes for price action signalling to go long. If price breaks the high of the previous bar, I'll long too... whichever comes first.
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Keeping it Simple
  • #4,231
  • Jun 28, 2007 4:27am Jun 28, 2007 4:27am
Got our entry signal on the 1hr off the previous "demand" line and the 50% retracement area. It happenned during my bedtime, so I missed that entry, but I'm in from 246.00. Hope somebody caught that Pin Bar entry.
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Keeping it Simple
  • #4,232
  • Jun 28, 2007 4:47am Jun 28, 2007 4:47am
Greetings

Please clarify for me how you protect against false breakouts. how do you confirm that the breakout is real. I am currently in the GBP/JPY trade also. Thank you.
  • #4,233
  • Jun 28, 2007 5:02am Jun 28, 2007 5:02am
Habeeb,

Sorry for the many questions. I have thoroughly reviewed this forum and read Thomas DeMark's book. I believe that I have a good understanding of this trend breakout method, however, since we are both in the same trade, I wish to use this opportunity to benefit from your expertise. Firstly, your chart posted above is a 1 hour time frame. Please confirm that your analysis was done on the 4 hour chart but you used the 1 hour chart only for an early entry. Secondly, how did you protect yourself against entering the trade at the false breakout at 2330GMT. Thank you.
  • #4,234
  • Jun 28, 2007 12:05pm Jun 28, 2007 12:05pm
Quoting forexnetworth
Greetings

Please clarify for me how you protect against false breakouts. how do you confirm that the breakout is real. I am currently in the GBP/JPY trade also. Thank you.
Hi,
I don't enter a trade when price breaks through a trendline. It has to close on the otherside first. I'd say, a confirmation is, when the new bar goes further than the breakout bar. Example, we had a close above the trendline. If the next bar had gone past the high of the breakout bar (bar that closed above the trendline), that would be your continuation confirmation.
Keeping it Simple
  • #4,235
  • Jun 28, 2007 12:28pm Jun 28, 2007 12:28pm
Quoting forexnetworth
Habeeb,

Sorry for the many questions. I have thoroughly reviewed this forum and read Thomas DeMark's book. I believe that I have a good understanding of this trend breakout method, however, since we are both in the same trade, I wish to use this opportunity to benefit from your expertise. Firstly, your chart posted above is a 1 hour time frame. Please confirm that your analysis was done on the 4 hour chart but you used the 1 hour chart only for an early entry.
Yes, that's correct.
I do, however, trade off any timeframe. If you look at the 1hr chart, we've got an inverted head-n-shoulders formation. The neck have been pierced a few times and we've finally gotten a close above the neck (arrowed). If the current bar breaks the high of the arrowed bar, we have our confirmation.

Quote
Secondly, how did you protect yourself against entering the trade at the false breakout at 2330GMT. Thank you.
Answered above. Here's a chart.
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Keeping it Simple
  • #4,236
  • Jun 28, 2007 12:55pm Jun 28, 2007 12:55pm
New Mouteki supply line came into play. A close above it, and we get a projected target of about 300 pips, which will land us roughly around 249.70 area...
... still have to wait though.
Attached Image
Keeping it Simple
  • #4,237
  • Jun 28, 2007 10:16pm Jun 28, 2007 10:16pm
Quoting habeeb
New Mouteki supply line came into play. A close above it, and we get a projected target of about 300 pips, which will land us roughly around 249.70 area...
... still have to wait though.
Habeeb,

Thank you for your clarification. This method does require some patience which is a virtue of all great traders. All the best.

Regards
  • #4,238
  • Jun 29, 2007 12:28am Jun 29, 2007 12:28am
Quoting forexnetworth
Habeeb,

Thank you for your clarification. This method does require some patience which is a virtue of all great traders. All the best.

Regards
You're welcome.
Keeping it Simple
  • #4,239
  • Jun 29, 2007 12:56am Jun 29, 2007 12:56am
Thanks Habeeb ..
  • #4,240
  • Jun 29, 2007 2:34am Jun 29, 2007 2:34am
My pleasure Foxsahara.
Sorry, this is a bit late. Couldn't get connected earlier.
Finally got our Mouteki signal. The breakout bar has formed a DBLHC (adding price action to the picture), giving us more confidence in this trade. I've inserted Fibonacci Expansion on the chart ... Mouteki projection usually lines up with FE161.8. If you want to scale out of the trade, you could take part profit at the FE100 area.
Attached Image
Keeping it Simple
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