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SRDC II Charts posting and discussion pertaining to it

  • #21
  • Jan 10, 2007 7:32pm Jan 10, 2007 7:32pm
Tragapip,

I'm trying to understand how do you relate the AP with the channel.
May be you can explain a liitle bit so that I'm able to follow...

Or..maybe some reading material..
TQ.

BTW, AUD/USD - the price was at median before the news this morning. I not dare to place an order. But the price shoot-up almost 60 pips.

Trading channel with news...

I always like new toys to play around...habit that I have since I'm a bachelor......
Shah For every action there is an equal and opposite reaction.....
  • #22
  • Jan 11, 2007 9:16am Jan 11, 2007 9:16am
I prefer to draw channels from beginning of a trend. It seems ok for today, took a short trade.
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  • #23
  • Jan 11, 2007 9:58am Jan 11, 2007 9:58am
Hi Folks !

I've done some trendline studies on CCI today and gained some
nice pips

To cite Orange : "It's important to have positive pips at the end of the day"

The red vertikal line is a sell setup => CCI crossed trendline downwards
The green vertikal line is a buy setup => CCI crossed trendline upwards

So you see the potential SRDC could have !!

Go back in time on every pair you want and test it .......

Why could you loose then ????

Important : When setting the trade, I always place a 30 Pip Stop
whether mentally or physically
(depends on the robber.. sorry broker)

Happy Pippin

Bernhard
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  • #24
  • Jan 11, 2007 10:04am Jan 11, 2007 10:04am
Hi Folks !

Referring to my last post I must really mention that I'm not as tough
as it could be....

I always took the trades right but still I'm not so cool to let them run
until the CCI changes direction..

This is the missing link, I'm searching for and I hope Orange and you
guys and gals could help me on my and of course also your search
to forex mastery

Happy Pippin

Bernhard
  • #25
  • Jan 11, 2007 10:32am Jan 11, 2007 10:32am
I think you can define a TP point according to trendlines,S&R points and be happy with what you gain.

...use minimal risk as outlined by many. greed has no place in this industry.
OrangeRoshan
http://www.forexfactory.com/forexfor...&postcount=450
  • #26
  • Jan 11, 2007 2:54pm Jan 11, 2007 2:54pm
Hi Behof,

Most indicators are lagging in nature so exits on their signals are also going to be lagging. Perhaps in the same way that you have drawn trendlines on the CCI for entery you can try drawing trendlines on price it self for exits, as you know in SRDC trendlines rule.
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #27
  • Edited 3:01pm Jan 11, 2007 3:00pm | Edited 3:01pm
Hello fellows.

Anyone willing to enlight this young padawan about why you jedis draw trendlines in CCI?

Is just to confirm S&R points and a change in market direction?

Example:In tragapips chart what was supossed to happen when the CCi crossed the yellow trend line?

What makes me think what are trendlines doing there, is that you can see changes in direction just by watching CCI itself...

Thanks in advance.
  • #28
  • Jan 11, 2007 3:36pm Jan 11, 2007 3:36pm
Sometimes CCI gives false crossovers and trendlines on CCI can help filter out some of the dark forces and save a Jedi some grief.
Just want to add, most Jedi Knights tend to draw trendlines from left to right, however according to Tom deMark, the proper way to draw lines is actualy from right to left that way the most recent price action is given most importance. You can check out Mouteki thread to get the full scoop or read DeMarks book "The New Science of Technical Analysis" to get it right from the Master himself.
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #29
  • Jan 12, 2007 9:42pm Jan 12, 2007 9:42pm
Quoting downunderdave40
Hi Panjan,

Resistance is the trendline above the price and support is the trendline below the price. Once a resistance line is broken then it becomes support when price retraces back to that point. Just reverse this for the support to resistance lines.

Hope that helps you.
Thanks Dave,
The reason I asked this coz i've read in one article saying that:
- When resistance becomes support, it's indicate a future bullish trend.
- When support becomes resistance, its indicate a future bearish trend.

I just need to confirm with other senior members whether this is right or not. May be the way I asked was not very clear...sorry fo my poor english.

I attatached the chart to show what I meant though.

Happy weekend to you all.
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Shah For every action there is an equal and opposite reaction.....
  • #30
  • Jan 13, 2007 1:15am Jan 13, 2007 1:15am
Thanks Panjan.

Here is the channel I was using for Jan 12. At GMT 00:00 Jan 12, I pulled my channel from GMT 00:00 on Jan 10 to GMT 23:45 on Jan 11. There was a trend change on Jan 11 but I wanted to base the channel on two days data, so I started the channel from Jan 10 instead of just Jan 11. That makes my channel not as steep as yours.

I am more comfortable to enter long in Q3 or Q4 but as you can see it never dip in Q3 of my channel, even with a positive news for USD.

On a side note, if we use zigzag indicator to decide where the channel starts as just suggested by OR, I would have the same channel as you.







Quoting Panjan
Aha,

If don't mind to post your chart, at least we can share the reason why we drew our charts in our own respective ways. At least I'm been able to know whether I got lucky or other wise.

We are here to learn anyway and I have read many of your good posts in FF.
You are good man.

Thanks
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Target: Trading naked.
  • #31
  • Jan 13, 2007 7:14am Jan 13, 2007 7:14am
On picture you see:
GBP/USD 1H chart
Shi channel (black lines)
LRC daily from 8 Jan to 12 Jan
LRC 1 Hour from 11 Jan to 12 Jan (end of week)
You see 2 trend lines
S&R of previous day candle (red and blue)

My question: What can i predict (main: im doing right or wrong?)
1st : I mean that trend will hit uper line (inside trend lines(3 angle)) of SHI channel and then will reverse to downtrend ?


I really hate that .gif it look likes 10 years ago (low grafic)
http://freeweb.siol.net/mvilfan1/fx/forexfactory2.gif
Casanova
  • #32
  • Jan 15, 2007 5:06pm Jan 15, 2007 5:06pm
Will it break up or down
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  • #33
  • Jan 16, 2007 2:38pm Jan 16, 2007 2:38pm
Nice written John-Paul!

Is there anyone else who's going for a short in GBP/USD? It respects the channel and a pinbar is (almost) forming...

http://img74.imageshack.us/img74/1687/gbp070116ag5.gif
  • #34
  • Edited 3:28pm Jan 16, 2007 2:48pm | Edited 3:28pm
Quoting grillbritt
Nice written John-Paul!

Is there anyone else who's going for a short in GBP/USD? It respects the channel and a pinbar is (almost) forming...

http://img74.imageshack.us/img74/1687/gbp070116ag5.gif
I would wait for the 3rd candle as confirmationif it remains there and is a full candle.
And ofcourse what the other lagging indicators tell you where the market has been.
I think it will bounce back lower unless there is bad news in US or goood news in GB.




What is the red line ? part of your fibs ?
Pipology 101 student
  • #35
  • Edited Jan 17, 2007 12:10am Jan 16, 2007 6:57pm | Edited Jan 17, 2007 12:10am
shi channel tru on 1 hr chart

edit: shi true channel - my understanding is that orange does not use it anymore.
It has been helpful from time to time (assuming it does not move arround too much)..
Pipology 101 student
  • #36
  • Jan 17, 2007 1:47am Jan 17, 2007 1:47am
Anyone long ?
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  • #37
  • Jan 17, 2007 3:26am Jan 17, 2007 3:26am
Inserted Code
 What is the red line ? part of your fibs ?
The red line is a trendline...

My short got stopped out, as you said I should have waited for the next candle... learning by doing

http://img216.imageshack.us/img216/2...p070117rl7.gif
  • #38
  • Last Post: Jan 17, 2007 7:14pm Jan 17, 2007 7:14pm
Here's my spaghetti on the 6th candle. My #1 pick is marked. Now time will tell.
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