Heres another trade on the EUR/USD H4. Realy simple, entered yesterday evening in direction of the trend. Roughly measured off the trendline to LH and took this value for the target: 
Stick to the plan!
Analysis and Trading based on Envelopes, Waves, Cycles
- #13,964
- Edited 4:25am Nov 23, 2024 4:01am | Edited 4:25am
My CMA channel indicator has been designed to utilise the work of Brian Millard.
Millard's channels are slightly different to Alain's as the channel width is determined by the magnitude of price fluctuations rather than division by 1/8ths employed by Alain. Additionally Millard extrapolates the channel boundaries using curved lines rather than straight projections, so you'll need to "hide line extensions" from within the indicator.
I'm not sure if Alain has already posted Millard's work so I'll post some now (supplied to me by Alain a couple of years ago). Well worth reading the lot, as it's full of pearls of wisdom.
Using Millard's work in conjunction with my indicator, will allow you to easily use this method. He also explains how to accurately project the channels into the future, which you can do using the "arc" drawing tool in TV.
I believe this will give you arguably the greatest trading edge that is possible. (maybe even the "holy grail"
)
PS. You can also predict the location of future focal points when drawing multiple channels and then use these for possible price projections as Alain has shown how to do many times in this thread.
Millard's channels are slightly different to Alain's as the channel width is determined by the magnitude of price fluctuations rather than division by 1/8ths employed by Alain. Additionally Millard extrapolates the channel boundaries using curved lines rather than straight projections, so you'll need to "hide line extensions" from within the indicator.
I'm not sure if Alain has already posted Millard's work so I'll post some now (supplied to me by Alain a couple of years ago). Well worth reading the lot, as it's full of pearls of wisdom.
Using Millard's work in conjunction with my indicator, will allow you to easily use this method. He also explains how to accurately project the channels into the future, which you can do using the "arc" drawing tool in TV.
I believe this will give you arguably the greatest trading edge that is possible. (maybe even the "holy grail"
)PS. You can also predict the location of future focal points when drawing multiple channels and then use these for possible price projections as Alain has shown how to do many times in this thread.
- #13,965
- Edited 5:53am Nov 23, 2024 5:37am | Edited 5:53am
- Joined Oct 2017 | Status: Trader | 12,472 Posts
IMHO the best book from Brian Millard
3 interesting chapters
the 4th Theoretical Chart Patterns
the 13th Channel Analysis
he 14th Cycles and Probability
3 interesting chapters
the 4th Theoretical Chart Patterns
the 13th Channel Analysis
he 14th Cycles and Probability
- #13,969
- Edited 6:44pm Nov 23, 2024 5:55am | Edited 6:44pm
- Joined Oct 2017 | Status: Trader | 12,472 Posts
- #13,970
- Edited 6:46pm Nov 23, 2024 5:56am | Edited 6:46pm
- Joined Oct 2017 | Status: Trader | 12,472 Posts
- #13,973
- Edited 4:11pm Nov 23, 2024 3:43pm | Edited 4:11pm
- Joined Oct 2017 | Status: Trader | 12,472 Posts
