Cornflower Hourly System | Page 68 | Forex Factory

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Attachments: Cornflower Hourly System
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Cornflower Hourly System

  • #1,341
  • Jun 15, 2008 1:31am Jun 15, 2008 1:31am
Umm well this would take ma an entire thread to explaing how they are use...in combination with the emas my freind...
I place fibbs in the daily chart to know the overall trend i also place them in the 1 hour chart to know the location the market should arrive by the end of the day....
I would have to start my own thread bud...I will explaing a littel better in the fallowing post.
  • #1,342
  • Jun 15, 2008 1:33am Jun 15, 2008 1:33am
Quoting whitelily
Can we share the fibb indicator with you? thanks.

Lily
Anything about the fibbs you whant to ask i have no problem ...
  • #1,343
  • Jun 15, 2008 1:41am Jun 15, 2008 1:41am
The systems for exit people have posted so far all sound good and robust!

I tend to use the 5 min entry chart for my exit, if the EMAs cross backover i take profit there.

If i am looking a bit longer term i take half when the EMAs cross on 5 min entry chart and let the other half run (lever gave us a hint in her 1st post about longer term exits)

Info on the 5min enty chart can be found around post 80 to 90 in this thread

But there is no right or wrong way to enter or exit a trade so long as you are winning and happy with the results you get.... remember if you count the pips not the dollars then the dollars take care of themselves (sorry just could not help myself )
  • #1,344
  • Jun 15, 2008 2:25am Jun 15, 2008 2:25am
I will give an update on a currency at least once a day...
Today i will show USD/CHF

I am sorry for the size of the image guys...I whanted you guys to get a nice zoom in and i will explain what i see....

Just by taking a look at the chart look at the wave formed from the low of june 9 to the high of june 11....and then compare it to the wave from the low of june 12 to the hihg of june 12 and last wave from the low of june 13 to the high of june 13....Just by looking at this you can see the waves getting smaller= that equals loss of streght. Second look how clean was the way back each wave and how you got each bounce of the fibb levels. Now simply by looking at the last day close look at how price started to make a,b,c,d down that shows more streght ont eh bearish side. Also price impacted a major tredline form a daily chart and it was simply a wick since all those candles above it are the wick on a daily candle. Alos if you place a fibb from the previous day swing price did not hit its 138.2 fibb that means weakness in the trend and possibell reversal coming up ahead...Also look at the angle of the 8 ema and 12 ema they are aiming down ...to me that shows that the short term trend is bearish....and that means dont go long unless price finds support below and hold the overall trend long in the 1 hour chart.

If you guys have any question let me know. Once again sorry for the size of the picture just whanted to make sure you guys can look at it well.

Attached Image
  • #1,345
  • Jun 15, 2008 3:01am Jun 15, 2008 3:01am
The person i learned all this amazing fibbs from is from my Bud BOBOKUS. He has the strategy on fibbs and this is his thread http://www.forexfactory.com/showthread.php?t=50767
He is an amazing trader.
  • #1,346
  • Edited 8:09am Jun 15, 2008 5:07am | Edited 8:09am
Hi ya Everyone again,

Thank you so much everyone for your time and help on this for me ..

I've tried using fib's but they seem to confuse me a bit where people tend to start them from just about every where that looks to fit ....so i'm still a bit lost on these so i'll be going over BOBOKUS's thread that Shermenator kindly put me in the direction of and hopefully understand them better..

I'm just noticing a lot of people are using the 5min CF set up to home in on Buy/Sells could we say that people are actually just starting to trade off that now?..

Clansman you said you use Pivot point's, could you kindly attach your indicator so I could try it out please if so is this indicator used on all TF's or certain ones?

Sorry Lever70 for going into other indicators (pivot point's and Fibo lines) as i know you wish to keep the system simple with out all the add ons :-(

Thank you muchly everyone once again for all the help on this ..

Adrian
  • #1,347
  • Jun 16, 2008 1:52am Jun 16, 2008 1:52am
Quoting aarangio
Hi ya Everyone again,

Thank you so much everyone for your time and help on this for me ..

I've tried using fib's but they seem to confuse me a bit where people tend to start them from just about every where that looks to fit ....so i'm still a bit lost on these so i'll be going over BOBOKUS's thread that Shermenator kindly put me in the direction of and hopefully understand them better..

I'm just noticing a lot of people are using the 5min CF set up to home in on Buy/Sells could we say that people are actually just starting to trade off that now?..

Clansman you said you use Pivot point's, could you kindly attach your indicator so I could try it out please if so is this indicator used on all TF's or certain ones?

Sorry Lever70 for going into other indicators (pivot point's and Fibo lines) as i know you wish to keep the system simple with out all the add ons :-(

Thank you muchly everyone once again for all the help on this ..

Adrian

Hi Adrian

I only go to the 5min entry chart after i see a normal cornflower setup on the 1 hour chart, so yes you could say i trade off the 5 min chart but only after a set up on the one hour

Hope this helps (keep the questions flowing people)


Bob

PS good work Shermenator on showing us how he trades!
  • #1,348
  • Edited 4:49pm Jun 16, 2008 4:38pm | Edited 4:49pm
Hi ya Bob inabottle,

Thanks muchly for your help and advice on my questions ..

I was wondering if you could explain how you trade exactly the 5min with the hourly as going over the CF pages from post #89 by lever70 on the 5min useage I seem to be getting blinded and caught up in the trap of just using the 5min to trade buy/sell and seeing with all this messing around I could easily have picked a rather nice large move on the hourly by just staying in and not getting caught up in the trap of buying and selling all the time with the 5min....

If you look at post #93 by lever70 she has left a good picture example on the hourly and 5min, however if you look at the 5min chart that Lever70 has put an up arrow and down arrow for buying and selling.. and then back to the hourly above it looks like you could have just stayed in the trade for a nice hourly move instead of selling so soon?

Am I missing the point with something about how the 5min locks in with the hourly and should be traded and blowing it with the hourly chances??

Could you please advise how you would use the system exactly?

Many thanx,
Adrian
  • #1,349
  • Jun 16, 2008 8:01pm Jun 16, 2008 8:01pm
Quoting aarangio
Sorry Lever70 for going into other indicators (pivot point's and Fibo lines) as i know you wish to keep the system simple with out all the add ons :-(
I'm not really all that taken with fibs, but I'm willing to tolerate anything that helps people trade the system. Sherm seems to have good timing with his fibs. Whatever works.

Been busy again...will be a week before I can start posting.
  • #1,350
  • Jun 16, 2008 10:15pm Jun 16, 2008 10:15pm
Quoting aarangio
Hi ya Bob inabottle,

Thanks muchly for your help and advice on my questions ..

I was wondering if you could explain how you trade exactly the 5min with the hourly as going over the CF pages from post #89 by lever70 on the 5min useage I seem to be getting blinded and caught up in the trap of just using the 5min to trade buy/sell and seeing with all this messing around I could easily have picked a rather nice large move on the hourly by just staying in and not getting caught up in the trap of buying and selling all the time with the 5min....

If you look at post #93 by lever70 she has left a good picture example on the hourly and 5min, however if you look at the 5min chart that Lever70 has put an up arrow and down arrow for buying and selling.. and then back to the hourly above it looks like you could have just stayed in the trade for a nice hourly move instead of selling so soon?

Am I missing the point with something about how the 5min locks in with the hourly and should be traded and blowing it with the hourly chances??

Could you please advise how you would use the system exactly?

Many thanx,
Adrian
No problem Adrian ... glad i can help out

Well if you look at that chart (post 93) and where the arrows are you will see that there is about 20 pips between them, now i wont speak for lever but if i recall somewhere in this thread she said that 20 pips is a nice profit (remember shes a scalper at heart, 20 pips would be huge to her ) so maybe thats why she put them there... as well as price is not rideing the top band as hard... im sure there are heaps of reasons but i guess you getting the idea?!

Take that 5 min chart in post 93, if the EMA's had crossed back over then i would jump out of the trade there. If they just turned up again then i would keep rideing untill they cross. Thats just me .... Im not always right.... others have other ways of trading this system that are just as good!

The longer term exit i like (but dont really trade cos who wants to be in a trade any longer then they need to be?)
is the 8 crossing back over the 12 EMA on the hour.

I also like risk/reward to be good, if i use a 20 pip stop im shooting for (but not locked into) a 30 pip profit target ....... easier said than done!

Hope this helps


Bob
  • #1,351
  • Jun 17, 2008 2:23am Jun 17, 2008 2:23am
Could be nice trades setting up on EUR and Cable right now
  • #1,352
  • Jun 17, 2008 5:07am Jun 17, 2008 5:07am
Quoting bob_inabottle
Could be nice trades setting up on EUR and Cable right now

Boy am i glad i stayed out of those trades
  • #1,353
  • Jun 18, 2008 12:24am Jun 18, 2008 12:24am
Hard to see to many cornflower trades today at this early stage
  • #1,354
  • Jun 18, 2008 12:28am Jun 18, 2008 12:28am
I am in short in the gbp/usd looking for trendline...
  • #1,355
  • Jun 18, 2008 3:01pm Jun 18, 2008 3:01pm
Hi ya Bob_inabottle,

Thanks muchly for your answers and help to my questions..it's definitely made things clearer for me

Can we have some more charts up please Shermenator..I learn better from your charts

Good to hear from you again Lever70 ..

Adrian
  • #1,356
  • Jun 18, 2008 5:50pm Jun 18, 2008 5:50pm
Wao! just ran thru the thread, wonderful system and great contributions, looking to demo trade it.
LISTEN TO MR FUNDAMENTAL AND MR TECHNICAL
  • #1,357
  • Jun 21, 2008 2:42am Jun 21, 2008 2:42am
what happened to this wonderful thread. Have we all been so busy practising that we have no time to post our achievements? Thank you Lever70 for giving us this thread, hope you haven't given up on us. I have found this method a great addition to my regular trading methods and would love to hear if others are finding that also. I must admit I am a bit reluctant to try the aggressive method, but the pullback is a winner. Shermenator thanks for your insights, i agree cornflower/fibs a great combination.

joy

lever70 please come back
  • #1,358
  • Jun 30, 2008 2:01am Jun 30, 2008 2:01am
Nice set up on the AUD to grab a handy 20 pips ... not a bad way to kick the week off!
  • #1,359
  • Jun 30, 2008 4:23am Jun 30, 2008 4:23am
I took this trade on the swissy.... I will try and post a chart so you can see it, worked out well for 20 pips, I really like cornflower trades like this... the trend has been clear for a few days so the EMA's are spread out just as we like. Is starting to retrace a bit now so only time will tell if it would have worked out for the longer term traders.
  • #1,360
  • Jun 30, 2008 4:25am Jun 30, 2008 4:25am
I entered off the last 12 ema bounce
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