Cornflower Hourly System | Page 73 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Cornflower EA 69 replies

Simple Hourly System 4 replies

Special request: Can someone make a Cornflower EA for us? 24 replies

cornflower mq4 request. 1 reply

"Bagovino Method" VS "Cornflower Hourly System" 16 replies

Attachments: Cornflower Hourly System
Exit Attachments

Cornflower Hourly System

  • #1,441
  • Aug 7, 2008 3:31am Aug 7, 2008 3:31am
Quoting bob_inabottle
Hi Arhemsi,

I don't look at the pair you took that trade on.... how did it turn out?

Bob
Hi Bob,

The trade was good

  • #1,442
  • Aug 7, 2008 6:07am Aug 7, 2008 6:07am
Quoting TLBreak
If you scroll through the attachments your soon find it.
Thanks, thats the first place i origianaly looked but did not see it. i have looked there again after you replied and wala!!!!! it is there. thanks.... and special thanks to BStar for writing it.
  • #1,443
  • Aug 7, 2008 10:25pm Aug 7, 2008 10:25pm
Sherlina,

Take a look around post 80 to 90 in this thread for Lever's 5 Min entry chart, you use this after a bounce off an EMA on the hour

Bob

Thanks bob for the reply. One other question, are we looking at the 24EMAs for the trend or we are looking the d 72 EMAs as a dominant trends to go short or long. Still figuring out thed right choice.

regards
  • #1,444
  • Aug 8, 2008 10:59am Aug 8, 2008 10:59am
hi,

I am new to this forum and found people are very helpful. I will start paper trading it from next week onward.

Just one query whether there is any trading system like this for trading in Gold, Oil and Silver. I am sorry i know this is not the forum for these commodities, but just thought the people in this forum are very cooperative and knowledgable, so might be soem one can help me in this case.

Regards

Amit.
  • #1,445
  • Aug 9, 2008 4:04am Aug 9, 2008 4:04am
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 15 KB


Hey Guys,

I am looking at this GU chart, and I am thinking that this could be a possible entry to the short side. It seems that price bounced off the 8 ema, except that the last candle was bullish. I guess if we have a bearish candle sometime the near of Europe open next week, we may have the confirmation to go short?

Appreciate if some of the seniors here could give some view on the matters

Thanks
  • #1,446
  • Aug 10, 2008 5:46am Aug 10, 2008 5:46am
arhemsi,

Not sure if you wanted my thoughts but....

If i were looking to take a trade around Euro open on Monday i want a fresh bounce around the time i am looking to trade. Thats not to say im right.... trade what YOU see

Bob,
  • #1,447
  • Aug 10, 2008 6:09am Aug 10, 2008 6:09am
Quoting arhemsi
Attachment

Hey Guys,

I am looking at this GU chart, and I am thinking that this could be a possible entry to the short side. It seems that price bounced off the 8 ema, except that the last candle was bullish. I guess if we have a bearish candle sometime the near of Europe open next week, we may have the confirmation to go short?

Appreciate if some of the seniors here could give some view on the matters

Thanks
Just my opinion, But this pair has been in a long trend and could retrace any time to atleast 72 ema. the longer the trend the closer to it having a decent retrace. i have jumped on at the end of a trend to many times just before it turns the other way. it is no fun i tell you. i would whait for some sort of retrace and test the 72ema then continue the trend. But like i said, its just my thoughts.
  • #1,448
  • Aug 11, 2008 10:50pm Aug 11, 2008 10:50pm
Hi,

I am still doing demo using the cornflower. Just wondering how do we anticipate or early sign of reversal trend. Will the turn of the smaller emas of the 5 and 15 min time frame is already a good sign or have to wait all emas cross the 72ema. Thank felicia cornflower rocks.

regards
  • #1,449
  • Aug 11, 2008 11:56pm Aug 11, 2008 11:56pm
Quoting Sherlina
Hi,

I am still doing demo using the cornflower. Just wondering how do we anticipate or early sign of reversal trend. Will the turn of the smaller emas of the 5 and 15 min time frame is already a good sign or have to wait all emas cross the 72ema. Thank felicia cornflower rocks.

regards
Sherlina,

Not sure this will help you but ill give it a go.

Early on (maybe even post 1) Felicia makes a point about the 8 crossing the 12 as a "get out" signal for longer term trades. I don't use cornflower that way but on the chart i attatch ill try and outline how someone might do just that.

I like the EMA's to all be stacked nice and in the right order, so the blue arrow shows a nice 12 EMA bounce and a great spot to get in short.

The red arrow is just on the candle after the 8 EMA crossed the 12 EMA so this saying to me the trend (for now) is retracing so a good spot to get out, taking that trade this way would have got you over 100 pips.

For me when the EMA's start crosing back over (on whatever timeframe you use) its time to sit on the fence, when its clear and stacked nice and clean its happy cornflower days.

Hope this helps

Bob
Attached Image (click to enlarge)
Click to Enlarge Name: aud.gif Size: 30 KB
  • #1,450
  • Aug 12, 2008 4:38am Aug 12, 2008 4:38am
Ok boys and girls.... nice 24 bounce on the EUR just now, let see what it dose
Attached Image (click to enlarge)
Click to Enlarge Name: eur1.gif Size: 17 KB
  • #1,451
  • Aug 12, 2008 7:12am Aug 12, 2008 7:12am
Sherlina,

Not sure this will help you but ill give it a go.

Early on (maybe even post 1) Felicia makes a point about the 8 crossing the 12 as a "get out" signal for longer term trades. I don't use cornflower that way but on the chart i attatch ill try and outline how someone might do just that.

I like the EMA's to all be stacked nice and in the right order, so the blue arrow shows a nice 12 EMA bounce and a great spot to get in short.

The red arrow is just on the candle after the 8 EMA crossed the 12 EMA so this saying to me the trend (for now) is retracing so a good spot to get out, taking that trade this way would have got you over 100 pips.

For me when the EMA's start crosing back over (on whatever timeframe you use) its time to sit on the fence, when its clear and stacked nice and clean its happy cornflower days.

Hope this helps

Bob


Thanks bob for your help. It does help alot with the chart that you have attached. I also do notice that the bounce of the of the 24ema on the hourly EURUSD at 1200hrs. Do you think Usd still got much steam left to go down further? I might be wrong but It might bounce at the 72 ema on the weekly chart
  • #1,452
  • Aug 12, 2008 2:06pm Aug 12, 2008 2:06pm
Well the 24 bounce on the EUR did not turn out the way we might have liked.... Thats Trading!

As for how much steam the USD might have... i really don't get involved to much in that stuff, if i see a 12 or 24 bounce and think it's good for 20 or 30 pips i take it.... Only trading what see!
  • #1,453
  • Aug 13, 2008 8:45am Aug 13, 2008 8:45am
Hi Bob,

A little bit confused here. Am I right to say on the 1 Hour time frame, as long as the 72 EMA is above the other small emas irrespective of the emas angle it is still a downtrend?
  • #1,454
  • Aug 13, 2008 3:33pm Aug 13, 2008 3:33pm
Quoting Sherlina
Hi Bob,

A little bit confused here. Am I right to say on the 1 Hour time frame, as long as the 72 EMA is above the other small emas irrespective of the emas angle it is still a downtrend?
Sherlina,

I have attacted a chart showing a cornflower trend as i see it, the green ticks mean its all good and the red cross is stay out time for Bob! that is when the Ema's start crossing back over!

The rules are still the same as post 1 so i would say people should go back and read that post.

Trading this way may keep you out of the market alot of the time, but thats the idea .... only to be trading when there is a real trend.

This dose not mean im right..... others may trade the EMA's differnt to me and that fine, but the way i read it this chart should help you out

Hope this helps

Bob

PS Keep posting and telling us how your trades go... good or bad (we love them all)
Attached Image (click to enlarge)
Click to Enlarge Name: aud.gif Size: 28 KB
  • #1,455
  • Aug 14, 2008 1:41am Aug 14, 2008 1:41am
Hi,
According to the rules , there is still a valid setup to enter short. But I'm wondering after the Pound has dropped so much recently whether to take the trade. If you did enter short, what would some of you suggest for SL?

Thanks,
Brent

PS. Envious of whoever caught this on first signal 1300+ pips ago
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Euro Open AUG14.png Size: 59 KB
  • #1,456
  • Aug 14, 2008 2:47am Aug 14, 2008 2:47am
Brent,

I take it you wanting to take the trade long term?

Well really you need to work out what level of risk you can handle, using S/R is good or trailing the 72 down might work too.

But the way i trade im only looking for 30 pips (max) off a cornflower bounce and as i like my risk:reward to be 1:1.5 i would only risk 20 pips.... i feel happy with that, now it's up you to figure out what risk you like.

hope i stayed on topic

Bob
  • #1,457
  • Aug 14, 2008 11:03am Aug 14, 2008 11:03am
Quoting bob_inabottle
Brent,

I take it you wanting to take the trade long term?

Well really you need to work out what level of risk you can handle, using S/R is good or trailing the 72 down might work too.

But the way i trade im only looking for 30 pips (max) off a cornflower bounce and as i like my risk:reward to be 1:1.5 i would only risk 20 pips.... i feel happy with that, now it's up you to figure out what risk you like.

hope i stayed on topic

Bob
Yes , I was looking more long term or +50 pips. As of 11:30am New York time still in this trade , whether out of stubborness of not wanting to exit because I was wrong , or because I did anticipate a retracement and have used Fib levels as a guide. Also when looking back seeing a similar pattern where there was not a complete crossover of EMA's.

In 1st screenshot it is easy to say it was good to stay in this trade as it worked out to further benefit, but at the time it was starting to reverse, many may have closed out or not entered. So with a calculated "hopefully", I will stay in using Fib 38.2% level as it has held it for 5 hours now.
8EMA also remains under the 24EMA
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSD comparison1.jpg Size: 335 KB
Click to Enlarge Name: GBPUSD comparison2.png Size: 83 KB
  • #1,458
  • Aug 14, 2008 1:28pm Aug 14, 2008 1:28pm
Bob, tell me ,please, do you enter emmidiately when price strikes 12 or 24 emas or wait for candle confirmation? For example,after prices triked 24 you wait for the closing of next candle or TC patternc of MACD? How do you choose what ema to take as an enter point? Thank you, Ceers,
  • #1,459
  • Aug 14, 2008 2:44pm Aug 14, 2008 2:44pm
Quoting lite27
Bob, tell me ,please, do you enter emmidiately when price strikes 12 or 24 emas or wait for candle confirmation? For example,after prices triked 24 you wait for the closing of next candle or TC patternc of MACD? How do you choose what ema to take as an enter point? Thank you, Ceers,
Lite,

When i see price in the area of the 12 or 24 EMA's i then go to lever's 5 min chart to time my entry.

Other people have posted other tools they use to help them with cornflower, just go back through the thread to see some of them, you have to use what works for you... not me. Having said that i feel cornflower is a simple system that should stay that way.

The key for me with this system is not to over trade, there wont be trades everyday... the last week or more has been great as the cable, aud and others have been trending, we will go through some hard times again when the EMA's are all bunched up but as i said my key is waiting for the market to come to me.... im not runing after the market trying to find a trade.

Hope this helps you get a handle on how i trade cornflower

Bob
  • #1,460
  • Aug 14, 2008 10:53pm Aug 14, 2008 10:53pm
This trade worked out ok. I like to trade multiple lots as it is easier for me to exit a trade and still leave something on. My 3rd lot got stopped out on a trail stop because I had to leave from computer, so its possible I could still have 1 lot on.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD closed.jpg Size: 252 KB
1 trader viewing now