DislikedThanks Steve for the kind word on my posts. I was wondering if they were to long winded nad hgped that others might get benefit from them.Ignored
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #63,263
- Feb 23, 2008 1:45pm Feb 23, 2008 1:45pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Really enjoy your analysis!
So far the closest thing I've found to your special RSI14 is the MFI(Money Flow Index) in Metatrader.
Very close...... I am tweaking money flow index for an 18 period and aplying it to the 15 min chart. This gets less trigger , but some very interesting ones.
Instead of using money flow you could use a standard RSI14.
Here is the technique I use:
Instead of waiting for it to get into 70 and 30 zone use values of 70 , 60 , 50 , 40 and 30 to trade around. If RSI passes up thru 60 and does not break above 70 , but instead falls back below 60 this is a sell trigger for example.
I do prefer to use 70 ,60 , 40 and 30 , the 50 trigger does not give as great a move. (unless it is a cross down as we had at the beginning of the week when we were in a primary downtrend on the 60 min)
The chart below shows a total of 500 pips profit in 2 days.(position traders would have missed all of this).
With 10 lots that would only be in the zone of 47 k in 2 days
. The only issue is in this market you need a 150 pip stop for the 60 min with this technique, we would have had draw down of about 100 pips on one of these trades , but in saying that on these triggers there were NO LOSSES. Back test this technique to the beginning of the week and your jaw will dro drop to the ground. I think it was a 700 pip week.
Week before .... 900 pips. Mostly due to the awesome trigger we had on the 11th for a 600 pips ride up.
Some of you Metatraders could set up this technique to be done on auto pilot. I do not really like that as sometimes a trade needs the human factor.
Instead I set alerts on my Radar screen in tradestation (like following multiple time frames at once in one excell style screen . - -2nd image below). If you look at the second image below we just had a trigger on the 30 min that the price is crossing under the 50 sma.... hence 'getshort 'alert and on the 5 min the rsi14 just crossed under 50 ( rsi crossing 50 channel alert reads ' xdown rsi50) .
There is a technique I have taught my Girlfriend on how to trade around the 50 sma. She has never traded before and made 300 pips in the 1st week. Take the same technique as for rsi .. 15 min chart , go long 15 pips above the high of the trigger bar (trigger bar being the one that crosses thru the moving average) opposite for selling. IT REALLY IS THAT SIMPLE
One has to remember trading is only hard if you make it hard .....there are loads of gurus out there wanting it to seem hard and make themselves look good OR try to sell you something.
The worst enemy i have is my own mind !!!
Blogging daily now at www.volume.zone
- #63,265
- Feb 23, 2008 4:23pm Feb 23, 2008 4:23pm
- Joined Apr 2007 | Status: "As Above So Below" | 6,206 Posts
"Millionaires don't use astrology, billionaires do"
- #63,266
- Feb 23, 2008 4:36pm Feb 23, 2008 4:36pm
- Joined Aug 2007 | Status: Jamaica | 1,069 Posts
The analysis on this thread has been exceptional in the last few weeks thanks to the contributions from several members, but I must single out Quecee who certainly picked up the baton in fine style.
Malcolmb14, thanks for your responses, they have been quite helpful in confirming a strategy I have been developing.
On this thread, I have seen analysis based on complex elliot wave patterns,demand /supply arcs, gann arcs, grids of multiple angles, even analysis based on the position of the planets.
Don't get me wrong these could all be quite valid, however I rather like the idea of keeping it simple.
With that in mind, here's a simple day chart, it would have been a good risk reward ratio, placing a limit order near the bottom trend line on Friday.
This chart supports Scrat's identification of a possible 4hr /1hr QQE strategy developing. As the daily QQE is already crossed and the 4 hr qqe is also crossed this could have the makings of a very large move upward, at least to the upside of the daily trend line. A break of this trend line, could see Karmo's 217.
But as MalcolmB says, can't be married to one possibility only. If the 1hour qqe fails to confirm, the trendline could break to the downside, which would be a good downward move.
Malcolmb14, thanks for your responses, they have been quite helpful in confirming a strategy I have been developing.
On this thread, I have seen analysis based on complex elliot wave patterns,demand /supply arcs, gann arcs, grids of multiple angles, even analysis based on the position of the planets.
Don't get me wrong these could all be quite valid, however I rather like the idea of keeping it simple.
With that in mind, here's a simple day chart, it would have been a good risk reward ratio, placing a limit order near the bottom trend line on Friday.
This chart supports Scrat's identification of a possible 4hr /1hr QQE strategy developing. As the daily QQE is already crossed and the 4 hr qqe is also crossed this could have the makings of a very large move upward, at least to the upside of the daily trend line. A break of this trend line, could see Karmo's 217.
But as MalcolmB says, can't be married to one possibility only. If the 1hour qqe fails to confirm, the trendline could break to the downside, which would be a good downward move.
- #63,267
- Feb 23, 2008 4:57pm Feb 23, 2008 4:57pm
- Joined Apr 2007 | Status: "As Above So Below" | 6,206 Posts
"Millionaires don't use astrology, billionaires do"
- #63,268
- Feb 23, 2008 5:25pm Feb 23, 2008 5:25pm
- Joined Nov 2007 | Status: Trader | 1,158 Posts
Yes it really is that simple, a person could of gotten a labotomy and would of known to buy the 204 205 level and hang on for some time, once it took out the 230 level
- #63,269
- Feb 23, 2008 5:30pm Feb 23, 2008 5:30pm
- Joined Aug 2007 | Status: Jamaica | 1,069 Posts
Yes it really is that simple, a person could of gotten a labotomy and would of known to buy the 204 205 level and hang on for some time, once it took out the 230 level
O , my trend points are a bit off, but how are you so sure that price will reach that target by mid April, could it not slide down that internal channel downwards, like it did on the 31st December, identified in the chart below. 
- #63,270
- Feb 23, 2008 5:41pm Feb 23, 2008 5:41pm
- Joined Apr 2007 | Status: "As Above So Below" | 6,206 Posts
"Millionaires don't use astrology, billionaires do"
- #63,272
- Feb 23, 2008 5:49pm Feb 23, 2008 5:49pm
- Joined Jan 2007 | Status: Trader | 3,719 Posts
Nihil Sine Deo.
- #63,273
- Feb 23, 2008 5:54pm Feb 23, 2008 5:54pm
- Joined Apr 2007 | Status: "As Above So Below" | 6,206 Posts
"Millionaires don't use astrology, billionaires do"
- #63,274
- Feb 23, 2008 5:59pm Feb 23, 2008 5:59pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Yes it really is that simple, a person could of gotten a labotomy and would of known to buy the 204 205 level and hang on for some time, once it took out the 230 level
Wot and miss all those lovely pips along the way !!! 205 to 230 only 2500 pips and wait till April 14th .
.... lol .... this week the pair only moved about 1000 pips on the 60 min., last week 1100.
I guess I am just to greedy ... no wonder I do not feel human by the end of the week .. must be lack of sleep . The good thing about that is that your profits seem three times bigger in treble vision due to lack of sleep.
Blogging daily now at www.volume.zone
- #63,275
- Edited 6:21pm Feb 23, 2008 6:04pm | Edited 6:21pm
- Joined Jan 2007 | Status: Trader | 3,719 Posts
Nihil Sine Deo.
- #63,277
- Feb 23, 2008 7:01pm Feb 23, 2008 7:01pm
- Joined Apr 2007 | Status: "As Above So Below" | 6,206 Posts
Nice chart .. wow it is so simple and clearly you can see the channel.
Wot and miss all those lovely pips along the way !!! 205 to 230 only 2500 pips and wait till April 14th .
.... lol .... this week the pair only moved about 1000 pips on the 60 min., last week 1100.
I guess I am just to greedy ... no wonder I do not feel human by the end of the week .. must be lack of sleep . The good thing about that is that your profits seem three times bigger in treble vision due to lack of sleep.
Malcolm thats great you must of done extremely well that week we were having 7 800 pip pip days swinging 3 400 an hour. Kudo's to you, keep up the good work
"Millionaires don't use astrology, billionaires do"
- #63,278
- Feb 23, 2008 7:10pm Feb 23, 2008 7:10pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Malcolm thats great you must of done extremely well that week we were having 7 800 pip pip days swinging 3 400 an hour. Kudo's to you, keep up the good work
Blogging daily now at www.volume.zone
- #63,280
- Feb 23, 2008 7:32pm Feb 23, 2008 7:32pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone