Cornflower Hourly System

Maybe the OZ is looking a little better on the 4hr at the mo, might bounce off the 12 (or crash right back up through it) I will also be carefull of the round number (80) and the S&R just under it.

Still going..... just keep moving the stop down

The OZ took a nice 24 bounce after i posted that chart yesterday, lets see how this one plays out

So the entry is EMA cross or just the pullback of the price will give me entry signal?

I have posted a chart with a red arrow showing a bounce off the 24 EMA, you should check out post 1 for a good run down on how the system works

Way to go Bob! I think the 4hr Chart is really working for you. I've had a so so week in the short term but I think my broker was running for stops at one point and then they widened the spread this afternoon almost keeping my orders from getting filled.

They are just jealous..

Keep your chin up Iceman....


Well just got stoped on the EUR, got +200 pips in that trade so not to bad

The AUD worked out with -50 pips but thats the way she go's.....

I am going ok with the 4hr charts at the mo, the normal 1hr cornflower has been good to me also, its where my life is at right now that i need a slower chart but if the pips keep coming the way they have over the last 2-3 weeks (because of super nice trends) it might be hard to go back!

Cornflower Rocks

Well not so much doing on the 4 hour charts for me today, time to hang out for a while and wait for the market to show me something

Seper trend

How long (and strong) should be trend to "safety" trade? - what do you think?
Now we have to wait, as Bob said..

When I trade the 1 hour cornflower I like the trend to have had a trade play out before i wait for the next trade to setup... then i enter. One of the charts posted has a blue arrow showing the first trade i would let go and a green arrow showing a trade i would take.

As for how I have been trading the 4 hour flower.... well I might have to start using the above 1 hour rule for 4 hour trades too, this week i took a trade on the swissy on the very first bounce of a trend that had really only just started and was stopped out in no time! The purple arrow on the chart show the bounce i am talking about


Happy trading

Bob

Hi Bob, could u explain in more details? I have a little bit confused. Thanks^^

qwer2004,

First up i just want to make sure it's clear i was talking about a question from Christ. Jast and that question was:

"How long (and strong) should be trend to "safety" trade? - what do you think?"

Ok so i will assume that you have an idea of how cornflower works, if not go and read post one because all anyone needs to know to get started is there.

First when looking for a cornflower trade i need the EMA's to be stacked in the right order to show a current trend, the chart in this post shows a white circle around where the EMA's are bunched up and then starting to spread out in order - this shows me the start of a trend i may want to trade.

The 2nd thing i look for is has there been a trade already in this current trend? the way i trade is waiting for a pullback to either the 12 EMA or 24 EMA, in this chart the red arrow show the "first trade".

The 3rd thing i want and am now waiting for is a 2nd pullback (shown by the green arrow in the chart) if this pullback dose what i want and resumes the trend then i enter a trade.


Some people might say i am letting to many pips go, others might not like idea of waiting around when trade was there the first time... and thats fine but i know this works for me.


I hope this was clear... i'm not sure it was but let me know how your trading is going too!

Bob

Thanks Bob, that's clear.

Second method - I found it in this thread some times (and posts) ago - is to wait to price break resistance or support created by last low or high. Then - trade.

Yes S/R is a good tool too would give you quicker entrys also

Thanks Bob,
I see what u mean.

Some posts above, u said u sold USD/CHF,
but stopped loss immediately.
I have the same experience in USD/JPY with H4 at the same time. These days I find it just had a pull back to EMA24 in daily chart and continous to be a downtrend. Therefore, I wait for a good CF in H4. Maybe it will develop soon. What do u think, Bob?


qwer2004

qwer2004,

I don't really trade the Yen pairs much so not really sure how it is doing....

But really one of the keys to trading a system like this one is to "let the trade come to you", don't chase a trade... when your system tells you to trade by giving an entry then we get excited just hang round for a while my friend just don't be in a hurry


Bob

Bob,

I do agree.
With CF, we can't make a trade. Conversely, the trade comes to us when it get ready. The essential of CF is PATIENCE~
Therefore, I have to go shopping for a while^^ See u!


HK Afternoon
qwer2004

Nice.... Don't spend all your money!

i have been traded cornflower for around one month . i have an idea to convert this method to software so we can automate trading. as my main job programmer i dont have any problems in term of programming, if any memebers are intersted on my idea???
Thanks all