Quoting cbrock5000DislikedMy Bias is we are going up. Weekly partial chart 2Ignored
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Quoting cbrock5000DislikedMy Bias is we are going up. Weekly partial chart 2Ignored
Quoting AltosTraderDislikedHi Aha - I have been using your I-LRC-AHA-02 and occassionaly overlay MT4 LRC as a check. What puzzles me is why there is still a lot of talk about how channels should be drawn but I have not noticed that yours as above have been "dis-approved". Can you enlighten me as to the "officially correct" channel parameters ?
I seem to have a graphics problem with MT4 in that drawn objects disappear when I change to say, EUR and come back to GBP, any self drawn lines are gone but the I-LRC-AHA stays for me. Is there something in I-LRC-AHA that is not correct in the group view ? If so, what.
I am in Australia and so correct parameters are even more vital to me as mostly I will place a trade and then often have to go to bed - I have other business interests also so cannot watch a screen all night - must sleep - must sleep - sleep . . . . . . .
Altos.Ignored
Quoting cbrock5000DislikedMy Bias is we are going up.Ignored
Quoting TragapipsDislikedThis my analysis:
December began with a change in cable tendency making its first low Dic 11 at 1.9464. thatīs a 38.2 retracement from previous leg.
The next price movemments are not normal for a down trend:
- Rebound again on the 38.2 level...
- Followed by a strong bullish candle (thatīs the key for me)
- Price fail to do a lower high on Dic 20 ( requisite in a stong downtrend).
- Price is unable to go below the downtrend median and..
- Price is unable to go below the uptrend median.
So having all this is in mind the probabilities for an up breakout are high.
Comments please.
http://img186.imageshack.us/img186/4...6103514nb9.pngIgnored
Quoting Traderbill07DislikedI am going to go against the grain here ..........
Disclaimer: This all means nothing if I am wrong.Ignored
Quoting investingjeffDislikedLooking at Tragapips chart it looks like we have a head and shoulders that formed over the month of December. If the price can break resistance at 9715 I think we'll continue up at a good quip. If it bounces off of the 9715 level I would look for a grumpy bear for the month of January at least.
Cheers,
jeffIgnored
Quoting cbrock5000DislikedMy Bias is we are going up. Weekly partial chart 2 shows we are in a uptrend since 10 June 2001. Note the weekly LRC channel with the Std Dev channel inside. [(Remember - Std. Dev is the predictive price action based upon bell curve distance away from the center line and always a tighter fit. Whereas LRC is the least squares fit of N data points with a best fit center line)]. See chart 1 below with a different view. Notice the TL's are from previous months bottom point through the 6th candle to gain a future trend. August, October & November all three pointed to a cyclical high at the beginning of December. This is not a coincidence. They still point up. We are having difficulty dropping below the current shorter term Oct 11th bullish trend. Unless price action is less volatile next week (which is a possibility while the big boys figure out the game) we will see a test of the shorter term December bearish channel before resuming the uptrend. Also the Really Big Boys (governments) are beginning to sell more $$$ in favor of the Euro (UAE announced this week also). If dollar is being sold which way will the pound go. If more US migrant workers are selling the $$ to convert to curency to send money home, which way will the $$ go.Ignored
Quoting cbrock5000DislikedBy the Way, notice how Bill said here he was going against the grain. Bill and I both caught ourselves using the "I disagree" phrase this week just to show (prove) our viewpoint. I think its important to do as Bill did here. When we have different viewpoints to call it that: going against the grain; different viewpoint; etc. vs. I disagree. This keeps things polite and fun. I trust Bill's viewpoint also and you had better believe I will be trying to figure out how he is seeing the channel as a possible bear waking from hibernation. The good news is we now have differing options in our brain. So if price action goes against the action you were expecting then we must have other SRDC II experts to look to. More pips for all.
Along this line, yesterday in TS I was scalping in between SRDC entries and a having difficulty even though I made pips scalping also. On the other hand Jest was announcing his scalps and was cleaning up. So he had a better handle on the price action and we all picked up on some good pointers from him.Ignored
Quoting walrusDislikedI must be losing it. the chartIgnored
Quoting cbrock5000DislikedBy the Way, notice how Bill said here he was going against the grain...
...I trust Bill's viewpoint also and you had better believe I will be trying to figure out how he is seeing the channel as a possible bear waking from hibernation...Ignored
Quoting ahaDislikedAltosTrader,
I tried to reproduce the problem you have with I-LRC AHA 0_2 but couldn't. I guess you have some other indicators running on the same chart and tends to delete all the objects when switching timeframe or charts.
The latest version is 0_3 btw.
IMHO, indicators are just tools, it's advised to draw those channels by hand if you are still learning the SRDC II. For me, I use I-LRC to save my time, and when it doesn't make sense I will quickly draw LRC manually. And also it's advisable to draw multiple channels just to keep an eye on the new development of new trends.
To study the way of channel drawing, read henry's manual on accrete's website. Or read his post here in this thread (you may find the post # in Glenn 's signature, )
Don't want to confuse this topic but feel it's important to share, I have found a couple of jedis in TS has the same understanding as me that: channels provide coordinates to guide our trading (a bit like vegas tunnel funtion wise imho, but totally different coordination system (galactical here? just joking )), the real trigger is your own understanding of price action and other SUPPORT/RESISTANCE (what 's the name of this method again? ). The channel/quadrant lines are calculated mathmetically and isn't necessarily the SR themself (though sometimes they happens to overlap with major SR), that's why you can use different channels (LRC, SHI, STD, etc.) to obtain similar results. In that sense, the channel doesn't have to be 100% accurate, as long as you are on the right direction.
Back to the indicator, I am sure there are still bugs in I-LRC AHA 0_3 and the trend detection logic isn't perfect too. I just don't have the time to improve it right now. So though it's still a useful tool (at least for me), I wouldn't rely on it. Also I would suggest to try Lou G's indicator (downable from accrete's site too) and see if it suits your style better.
ahaIgnored
Quoting cbrock5000DislikedAlong this line, yesterday in TS I was scalping in between SRDC entries and a having difficulty even though I made pips scalping also. On the other hand Jest was announcing his scalps and was cleaning up. So he had a better handle on the price action and we all picked up on some good pointers from him.Ignored