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  • #2,361
  • Jul 23, 2024 3:52am Jul 23, 2024 3:52am
you wite:"PS - EVERY profitable way to trade the markets was discovered and published before this site was ever created - everything people need as a "manual or reference" is already out there pre 2000 and most of it pre 1980"

I completely agree...you can see we are of a certain age...::)
I think operating in multitimeframe is a great thing
  • #2,362
  • Jul 23, 2024 4:35am Jul 23, 2024 4:35am
Quoting Thtpro
{quote} Hi - If you need verification of this method then get a copy of Robert Miners "High Probability Trading Strategies" its part of that book and strategy that was published early 2000's or late 1990's - Also reference DiNapoli Levels as its on the same lines as Joe DiNapoli's method of trading fibs I trade a similar method but not the fibs - just a pullback to MA's with the stoch (533 setting) and RSI {image} PS - EVERY profitable way to trade the markets was discovered and published before this site was ever created - everything people need...
Thank you for those suggestions, did some reading last night and its fascinating.

Found this setup on H4 EURCHF at 38.2 with hidden divergence. Entered with SL at the current high (manual)
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  • #2,363
  • Jul 23, 2024 4:58am Jul 23, 2024 4:58am
Quoting L1ghtning
{quote} Thank you for those suggestions, did some reading last night and its fascinating. Found this setup on H4 EURCHF at 38.2 with hidden divergence. Entered with SL at the current high (manual) {image}
No problem - just want people to win win win

Even works on monthly charts

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Price dictates EVERYTHING - BUT you can certainly use Indicators to pick out turns - I've been doing it for decades

Once you get those big ranging bars, I'm not Interested in trading them, as its too risky, but on the way up to those big ranged bars you can definitely trade

The Indicators are cycle Indicators, as in they follow price action cycles, but you can use them to get in near the low bars of turns - trade with the trend though that is the critical part
  • #2,364
  • Jul 23, 2024 5:00am Jul 23, 2024 5:00am
Quoting carbonmimeti
you wite:"PS - EVERY profitable way to trade the markets was discovered and published before this site was ever created - everything people need as a "manual or reference" is already out there pre 2000 and most of it pre 1980" I completely agree...you can see we are of a certain age...::) I think operating in multitimeframe is a great thing
Absolutely If the monthly is due a "bounce", then everything underneath it should rise to some degree
  • #2,365
  • Jul 23, 2024 11:52am Jul 23, 2024 11:52am
Quoting Thtpro
{quote} Hi - If you need verification of this method then get a copy of Robert Miners "High Probability Trading Strategies" its part of that book and strategy that was published early 2000's or late 1990's - Also reference DiNapoli Levels as its on the same lines as Joe DiNapoli's method of trading fibs I trade a similar method but not the fibs - just a pullback to MA's with the stoch (533 setting) and RSI {image} PS - EVERY profitable way to trade the markets was discovered and published before this site was ever created - everything people need...
I'm conscious of going off the original topic, but I was hoping to ask you what confirmations you look for on your method? I'm assuming its rejection off a MA and the RSI/ stoch bending upwards for a long entry or downwards for a short entry? Thank you in advance
  • #2,366
  • Edited 12:31pm Jul 23, 2024 12:19pm | Edited 12:31pm
Quoting L1ghtning
{quote} I'm conscious of going off the original topic, but I was hoping to ask you what confirmations you look for on your method? I'm assuming its rejection off a MA and the RSI/ stoch bending upwards for a long entry or downwards for a short entry? Thank you in advance
Yeah - It's exactly as you'd use the stoch in the method in this thread - stochs RSI Indicators will all turn when a price cycle turns - that's all you're doing is catching the price cycle turn, it can be at a moving average, at a fib level, at a elliott wave count etc

If you look at the chart above - as soon as the 2RSI is <25% I'm on alert, to enter, price HAS to trade ABOVE the bar high of the bar that made the 2RSI go <25%, then if it does, I go long and the stop goes 1 penny under the LOW of the entry bar or the low of the bar which made the 2RSI go <25% whichever is lower and then I either set a price target or most often trail up a stop below the lows etc

You can be this precise, because if the Indicator is tracking price turns (as it does) then you can have confidence that your Initial stop will not be hit IF you have got the price cycle correct - If you apply this in a trendless market, then you will get kicked to hell as you would do if you just bought when the 2RSI goes <25% - so you need a few factors to happen to get in a position, exactly as you do at a fib level

IF the level you are trading is valid then price will move, if you've got it wrong, you'll get stopped - I used to trade fib levels with this method which is obviously counter trend

You can just trade the RSI or the STOCH on its own or you can use a combo of both i.e. only take trades when the trend is bullish and both the Indicators are oversold <25% or whatever

The Important factor is whatever Indicator you use, it WILL turn when the price cycle turns and as you can visually see, the Indicators catch a lot of the price cycle turns - there's no magic to this, price is always king, but it does very predictable things - When you trade Fib levels you'll find that sometimes the Indicator catches the turn perfectly and other times its wrong and price falls to another level etc, but when price is at the point of support and its going to turn, then the Indicator will follow suit

and by using the Indicator you can get in very very close to the low bar (for longs)

If you read those books, you will see that those 2 traders did this very thing at fib levels and with Indicators - the principle of this thread is THEIR methods - I've just applied it to another method I personally prefer

This is a recent one I saved - entry/stop and trail

I was also in on the 2 trades (not marked) in APRIL - one of which you can see would have been a FIB level reversal of some kind, but I wasn't trading the fib level, just the moving averages - so this should help to explain how it all fits together

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  • #2,367
  • Jul 24, 2024 4:18am Jul 24, 2024 4:18am
Quoting Thtpro
{quote} Yeah - It's exactly as you'd use the stoch in the method in this thread - stochs RSI Indicators will all turn when a price cycle turns - that's all you're doing is catching the price cycle turn, it can be at a moving average, at a fib level, at a elliott wave count etc If you look at the chart above - as soon as the 2RSI is <25% I'm on alert, to enter, price HAS to trade ABOVE the bar high of the bar that made the 2RSI go <25%, then if it does, I go long and the stop goes 1 penny under the LOW of the entry bar or the low of the bar which...
Thank you, really appreciate the reply and explanation
  • #2,368
  • Jul 24, 2024 4:19am Jul 24, 2024 4:19am
I'm in this NZDUSD M30 short - .50 fib used and hidden divergence following daily downtrend.
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  • #2,369
  • Jul 24, 2024 4:47am Jul 24, 2024 4:47am
Quoting L1ghtning
{quote} Thank you, really appreciate the reply and explanation
No probs - All the best
  • #2,370
  • Last Post: Dec 8, 2025 3:50am Dec 8, 2025 3:50am
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Perfect!
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