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Momentum and StochRSI system

  • #101
  • Oct 29, 2008 8:29pm Oct 29, 2008 8:29pm
Quoting 5ysfx
LONG setup confirmed on H3

buy on dips.
Short is dangerous.
1st TP has been hit
Took some profit at 16350 +850 pips
I do not count scalp trades.
Piece of cake these days.

We are at daily ema 14 resistance also daily momentum ema 20 resistance. and bearzone border resistance.
retrace is possible but i will wait for short signal.
Moved SL below ema 14 on H1 for rest positions.
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  • #102
  • Oct 29, 2008 10:12pm Oct 29, 2008 10:12pm
m5 short signal
rounded top + bounce off bullzone border to downside.

m1 bulltrap mode move to upside without momentum

TP 161
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  • #103
  • Oct 29, 2008 10:37pm Oct 29, 2008 10:37pm
Remember to take partial profit at 161.8% of correction move and put SL on BE.
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  • #104
  • Oct 29, 2008 10:52pm Oct 29, 2008 10:52pm
m1 rejection
then u can short again on next retrace which should bring us to LTL of the channel (white)
261..8% of previous correction(red fibo) and 161.8% of current correction(yellow fibo)


80% reliability now
TP 161

EDIT sorry posted wrong chart before

m1 was supported at stoch's ema 20
watch cyan TL
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  • #105
  • Oct 29, 2008 11:29pm Oct 29, 2008 11:29pm
m5 look

price is moving upward but momntum is declining
IMO bearflag mode after breakout drop should be along green line
bullish signal only when cyan TL will be breached
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  • #106
  • Oct 29, 2008 11:54pm Oct 29, 2008 11:54pm
happy to discover this thread of yours
i've been using oanda with momentum 30 with ma's 3 21 55 imposed, RSI, and macd (30, 55, 90)

This combo helped in achieving consistent good results
Hope to benefit more from your thread
  • #107
  • Oct 30, 2008 12:06am Oct 30, 2008 12:06am
Quoting avani
happy to discover this thread of yours
i've been using oanda with momentum 30 with ma's 3 21 55 imposed, RSI, and macd (30, 55, 90)

This combo helped in achieving consistent good results
Hope to benefit more from your thread
im glad that u have found ur own working system
I think there are plenty of them even undiscovered ones
enjoy staying here

back to subject

m5 in bearzone now and gather bearish momentum
m15 generated short signal - stoch crossed bullzone and ema 20

so short is lookin more reliable now for even lower targets such as 159 but once again watch out for m15 bearzone rejection last times was stopped triple times.

16110 is TP for partial profits now
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  • #108
  • Oct 30, 2008 12:53am Oct 30, 2008 12:53am
no breakout has been made yet

could be false breakout because of bearish div on m15 and m5 ema 20 resistance
shorted the rally
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  • #109
  • Oct 30, 2008 2:31am Oct 30, 2008 2:31am
Quoting 5ysfx
no breakout has been made yet

could be false breakout because of bearish div on m15 and m5 ema 20 resistance
shorted the rally
now it was definetely
short setup was scr#w up
but easy and quick 100pips was on the table


now m5 and m15 bullzone rejection possible also ema 14 on daily chart is at 16390.

shorted this rally
  • #110
  • Oct 30, 2008 2:51am Oct 30, 2008 2:51am
m5 and m15 bullzone rejection confluence nice

1 st TP is ema 55 on 15 min
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  • #111
  • Oct 30, 2008 3:05am Oct 30, 2008 3:05am
but this chart looks very nice for shorts

closed all longs here 16410 (many pips )


now i got only short position.
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  • #112
  • Oct 30, 2008 3:30am Oct 30, 2008 3:30am
Small retracement to ema 7(159) would have been healthy for further surge.
We have first sign of reversal on daily (stoch already left bearzone and crossed ema 20. Momentum is rising constantly even on ema 20.)
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  • #113
  • Edited 4:56am Oct 30, 2008 3:34am | Edited 4:56am
it can be a correction in present "long" trend as i read from macd 30 where the mas have not dipped below 000 in a 15m frame.
will wait before i exit my longs
den
ps i'll try posting the chart
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  • #114
  • Oct 30, 2008 3:48am Oct 30, 2008 3:48am
Quoting avani
it can be a correction in present \"long\" trend as i read from macd 30 where the mas have not dipped below 000 in a 15m frame.
will wait before i exit my longs
den
ps i'll try posting the chart
waiting for ur chart and explanation about MACD because i have never discovered how to use it LOL
  • #115
  • Oct 30, 2008 4:45am Oct 30, 2008 4:45am
Quoting 5ysfx
m5 and m15 bullzone rejection confluence nice

1 st TP is ema 55 on 15 min
TP has been hit
took half profit at 16203

waiting to confirmation and will add to shorts
261.8% of prevoius correction was line up with ema 55 on m15.
looking for short around 161.8% level
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  • #116
  • Oct 30, 2008 4:56am Oct 30, 2008 4:56am
m5 new correction and new targets
m15 after bullzone rejection have been entered to bearzone already
m30 is genarating short signal
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  • #117
  • Oct 30, 2008 5:02am Oct 30, 2008 5:02am
Quoting 5ysfx
waiting for ur chart and explanation about MACD because i have never discovered how to use it LOL
pl gimme time i'll try to post a chart explainin everything
den
  • #118
  • Oct 30, 2008 6:02am Oct 30, 2008 6:02am
bounce off LTL of this damned wedge(also ema 204 on m5) but m30 momnetum is declining.
It suggest me lower targets.

daily ema 14 is 16398

so im short biased untill daily ema 14 will be taken out


see ya later
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  • #119
  • Oct 30, 2008 6:30am Oct 30, 2008 6:30am
last one chart before i leave

We have perfect setup for 160 level
- daily ema 14 and h1 ema 55
-161.8% FE of last rise mean correction move
- LTL of the channel
-m15 stoch bounce off ema 20 resistance
-m30 bearish momentum and stoch divergence
-H1 stoch's is passing ema 20
-H3 need a rest


Just beautifull setup

will be back later my SL is placed at 16450
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  • #120
  • Oct 30, 2008 6:57am Oct 30, 2008 6:57am
Quoting 5ysfx
last one chart before i leave

We have perfect setup for 160 level
- daily ema 14 and h1 ema 55
-161.8% FE of last rise mean correction move
- LTL of the channel
-m15 stoch bounce off ema 20 resistance
-m30 bearish momentum and stoch divergence
-H1 stoch's is passing ema 20
-H3 need a rest


Just beautifull setup

will be back later my SL is placed at 16450
Honestly.. i still confuse.., how to get clear direction to start Entry BUY/SELL, could you make it simple please..?




well I gues I have to read a lot.. babypips..
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