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  • #181
  • Mar 22, 2007 5:36pm Mar 22, 2007 5:36pm
If i can decode you. That would mean your bullish?

Quoting kharvell
First of all I just want to say that I have REALLY enjoyed limiting myself to only 3 pairs to trade. With all the extra time that I used to browse through tons of pairs, I am getting a chance to actually look into the charts, and I feel that my decisions have more quality to them(confidence).

Secondly, I want to say that Speed Lines are quite amazing. If you do not know how to use them, let me know, because it's pretty sweet how accurate they are.

And Lastly,

A chart of GBP/USD on Daily is below. I have marked some things about speed lines. Basically, just drew a trendline from Oct Low to Jan High, and the other lines were drawn in for me. You can see that the lower band was tested twice after the Jan High, and crossed the second line 2 days ago. Yesterday, this line was tested and held true as support, and today looks to be along the same lines. I face the dilemma of following my system or trusting my intuition. I believe I will have to go with my intuition.

And EUR/CHF didn't quite form a signal for me, but if it did, it would not have been countertrend.

Good Luck,

Kevin
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #182
  • Mar 22, 2007 5:37pm Mar 22, 2007 5:37pm
Quoting kharvell

Secondly, I want to say that Speed Lines are quite amazing. If you do not know how to use them, let me know, because it's pretty sweet how accurate they are.

Kevin
Yes Kevin, please explain the speed lines.
  • #183
  • Mar 22, 2007 5:39pm Mar 22, 2007 5:39pm
Quoting GreatYves
If i can decode you. That would mean your bullish?
As of now yes, but I will actually make my decision at around 11PM CST. If there just so happened to be some momentum down, I would probably join in short. I'm very on the fence, and the next few hours will tell a lot.

Regards,

Kevin
  • #184
  • Mar 22, 2007 5:41pm Mar 22, 2007 5:41pm
Quoting lholcomb
Yes Kevin, please explain the speed lines.
If there is enough interest, I will whip out a pdf and post it under Trading Systems for everyone. Should be able to do that relatively soon.

Kevin
  • #185
  • Mar 22, 2007 6:31pm Mar 22, 2007 6:31pm
Very interested Kevin.
  • #186
  • Mar 22, 2007 6:47pm Mar 22, 2007 6:47pm
Quoting mikeh3855
Very interested Kevin.
Ditto!
Greetings from Guanajuato, Mexico
  • #187
  • Mar 22, 2007 6:51pm Mar 22, 2007 6:51pm
Quoting mikeh3855
Very interested Kevin.
Agree http://forexfactory.com/images/icons/icon14.gif
Thomas
  • #188
  • Mar 22, 2007 6:51pm Mar 22, 2007 6:51pm
Alright guys,

I have whipped out a hastily made PDF for you all. You may find the link to it here:

http://forexfactory.com/showthread.p...922#post251922

Let me know if I am unclear on anything.

Good Luck!

Kevin
  • #189
  • Mar 23, 2007 3:09am Mar 23, 2007 3:09am
Quoting kharvell
If there is enough interest, I will whip out a pdf and post it under Trading Systems for everyone. Should be able to do that relatively soon.

Kevin
Kevin,
I am interested to know more about speed Line. Please do and let us know where do you post it, if not here.
Thanks.
  • #190
  • Mar 23, 2007 3:27am Mar 23, 2007 3:27am
Quoting kharvell
First of all I just want to say that I have REALLY enjoyed limiting myself to only 3 pairs to trade. With all the extra time that I used to browse through tons of pairs, I am getting a chance to actually look into the charts, and I feel that my decisions have more quality to them(confidence).

Secondly, I want to say that Speed Lines are quite amazing. If you do not know how to use them, let me know, because it's pretty sweet how accurate they are.

And Lastly,

A chart of GBP/USD on Daily is below. I have marked some things about speed lines. Basically, just drew a trendline from Oct Low to Jan High, and the other lines were drawn in for me. You can see that the lower band was tested twice after the Jan High, and crossed the second line 2 days ago. Yesterday, this line was tested and held true as support, and today looks to be along the same lines. I face the dilemma of following my system or trusting my intuition. I believe I will have to go with my intuition.

And EUR/CHF didn't quite form a signal for me, but if it did, it would not have been countertrend.

Good Luck,

Kevin
Kevin, I read your posting of pdf on Speed Line. I think I understand it and would like to use it, compare it with fib and comment.
Thanks.

BTW, here is my song:

Speed Line,... Speed Line..... Speeed Line ... where do I find the speed line.... where do I find the Speed Line ...... where do I find this tool, the Speed Line....Speed Line,... Speed Line..... Speeed Line ...
Thanks again
  • #191
  • Mar 23, 2007 5:40am Mar 23, 2007 5:40am
Simply look for FIBONACCI FAN....
  • #192
  • Edited 6:03am Mar 23, 2007 5:53am | Edited 6:03am
Here my taughts Kharvell.

You are bending your own rules of the BB method GBP USD showed a clear sell signal on your method, but as you say you are bullish base on the speed lines.. Should contradictionnary signal get then disreguard untill a clear confirmation? Discipline, discipline discipline. (look whos talking... i got NO method yet) (I was long yesterday but got stoped on GBP YEN.....) I think the further we advance in time, the less these speed line will work, but BB method will stil show the overbought and oversold level..

If you said fundamentals data is keeping you long i would understand, but beware of the speed lines.. Their are just more trendlines that happen to fit.. I like LRC channel better as it show more potential trades.

Draw them onto other currencies to see if it works elsewhere. Speed line look nice on eur-usd says nothing on usd-jpy.

Anyway, if US currencie doesn't rebound next week i think it's in for a major fall since the interest rate haven't move and i fell they might go down in US and Canada if economy doesnt show better signs of vigor in the next few weeks.

By the way i feel your daily BB method just happen to be a winner on the longer term. It's just that 2007 is not moving the same as 2006 yet..

Quoting kharvell
As of now yes, but I will actually make my decision at around 11PM CST. If there just so happened to be some momentum down, I would probably join in short. I'm very on the fence, and the next few hours will tell a lot.

Regards,

Kevin
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #193
  • Mar 23, 2007 6:35am Mar 23, 2007 6:35am
Wow....

Quoting Chandra
BTW, here is my song:

Speed Line,... Speed Line..... Speeed Line ... where do I find the speed line.... where do I find the Speed Line ...... where do I find this tool, the Speed Line....Speed Line,... Speed Line..... Speeed Line ...
  • #194
  • Mar 23, 2007 6:47am Mar 23, 2007 6:47am
What exactly is your Bollinger Band method?
  • #195
  • Mar 23, 2007 7:29am Mar 23, 2007 7:29am
Quoting GreatYves
Here my taughts Kharvell.

You are bending your own rules of the BB method GBP USD showed a clear sell signal on your method, but as you say you are bullish base on the speed lines.. Should contradictionnary signal get then disreguard untill a clear confirmation? Discipline, discipline discipline. (look whos talking... i got NO method yet) (I was long yesterday but got stoped on GBP YEN.....) I think the further we advance in time, the less these speed line will work, but BB method will stil show the overbought and oversold level..

If you said fundamentals data is keeping you long i would understand, but beware of the speed lines.. Their are just more trendlines that happen to fit.. I like LRC channel better as it show more potential trades.

Draw them onto other currencies to see if it works elsewhere. Speed line look nice on eur-usd says nothing on usd-jpy.

Anyway, if US currencie doesn't rebound next week i think it's in for a major fall since the interest rate haven't move and i fell they might go down in US and Canada if economy doesnt show better signs of vigor in the next few weeks.

By the way i feel your daily BB method just happen to be a winner on the longer term. It's just that 2007 is not moving the same as 2006 yet..
I see two inadvertent mistakes here. (i) Kevin's decision NOT to discuss the basics is violated inadvertently (as I did it several times inadvertantly). Mentioning it triggers quiries and requests and that is what Kevin requested us not to do, (ii) Kevin clearly said he is sitting on fence YESTERDAY. Yes, the price was still sitting on fence YESTEDAY. His observations seems to me as further refinement of basic approach. I may not be talking clearly but it is for obvious reasons. Your LRC may be another/alternative refinement of basic approach. Speed Line refines things, it is not hurting or contradicting.
-Chandra.
  • #196
  • Mar 23, 2007 7:30am Mar 23, 2007 7:30am
Closed Trade:

3/19-3/23 USD/CHF Long +54

This trade was up and down within a fairly narrow range all week, but finally limited out this a.m. As it turns out, it wasn't a hugely profitable trade, but I'll take it.
Greetings from Guanajuato, Mexico
  • #197
  • Mar 23, 2007 7:50am Mar 23, 2007 7:50am
Quote
What exactly is your Bollinger Band method?

Hey maxsmart,

I'm afraid that I will not be able to discuss my method as I may be entering a business with it rather soon. I will however offer you up this link, showing a good way to use bollinger bands to your advantage.

http://www.trade10.com/Bollinger.html

Quoting GreatYves
Here my taughts Kharvell.

You are bending your own rules of the BB method GBP USD showed a clear sell signal on your method, but as you say you are bullish base on the speed lines.. Should contradictionnary signal get then disreguard untill a clear confirmation? Discipline, discipline discipline. (look whos talking... i got NO method yet) (I was long yesterday but got stoped on GBP YEN.....) I think the further we advance in time, the less these speed line will work, but BB method will stil show the overbought and oversold level..

If you said fundamentals data is keeping you long i would understand, but beware of the speed lines.. Their are just more trendlines that happen to fit.. I like LRC channel better as it show more potential trades.

Draw them onto other currencies to see if it works elsewhere. Speed line look nice on eur-usd says nothing on usd-jpy.

Anyway, if US currencie doesn't rebound next week i think it's in for a major fall since the interest rate haven't move and i fell they might go down in US and Canada if economy doesnt show better signs of vigor in the next few weeks.

By the way i feel your daily BB method just happen to be a winner on the longer term. It's just that 2007 is not moving the same as 2006 yet..
Great Yves,

Great Post You make a lot of great points. However, I'm going to have to respectfully disagree with you. While it is true that I have decided my method, and most would agree to stick to it, I have hardly swayed from it at all. Speed lines are quite similar to fibonacci lines, which have been used for years and years. Would you ever say that fibonacci lines are invalid? I'm guessing no, because there are MILLIONS of traders who use them. Now, I never said make you're trading decisions based upon them, but keep in mind I have done my fair share of research on them, and so far they have called moves for me 100% accurately.

I mean, I can show you dozens and dozens of examples. Basically, all I'm doing in regards to my method is waiting for the speed line to be broken, indicating bearish confirmation. But let me show you GBP/USD on a 3 hour chart, and let you see for yourself just how accurate speed lines call resistance/support. You can see that the price has tested the line 3 times up to this point and right now, the 3 hour period candle is under the speed line. I will wait for a close of this candle under the speed line, and then take my method as originally planned; missing out on 30 pips or so. Small price to pay for confirmation.
Attached Image
  • #198
  • Mar 23, 2007 8:04am Mar 23, 2007 8:04am
Quote
Here my taughts Kharvell.

You are bending your own rules of the BB method GBP USD showed a clear sell signal on your method, but as you say you are bullish base on the speed lines.. Should contradictionnary signal get then disreguard untill a clear confirmation? Discipline, discipline discipline.
GreatYves,

I agree that GBP/USD showed a clear Sell signal, which I took. But let me add on few thoughts regarding why I respect Kevin's disagreement with that trade.

I tend to stick faithfully to a method if it's working well. I think it's safe to say that most who have used Kevin's method would agree it's profitable without any tweaks. However, if we've learned nothing else about Kevin, we know that he's 20 and that he's creative. Both those facts would lead one to believe that his personal trading style will probably continue to evolve.

I, for one, am more than willing to sleep nights while Kevin stays up half the night thinking about the "latest, greatest" improvement. That allows me to wake up refreshed and read Kevin's latest post on how to add more pips to my account. Refine away, my friend!
Greetings from Guanajuato, Mexico
  • #199
  • Mar 23, 2007 8:06am Mar 23, 2007 8:06am
Too many people trading fibs on different timeframes equals a lot of noise on the charts. Fibs are over-rated.

Quoting kharvell
Would you ever say that fibonacci lines are invalid? I'm guessing no, because there are MILLIONS of traders who use them.
  • #200
  • Edited 8:37am Mar 23, 2007 8:23am | Edited 8:37am
I found description how to use Speed Resistance Line (SRL).
BUT I don't find the actual indicator yet. Any body wants to post the actual indicator (SRL) for IBFX platform (M4)? I appreciate it.

Here is the description on how to use SRL:

Speed resistance lines (SRL) are especially good when a technician is looking at issues that are inside of strong trends. A chartist uses the SRL to determine support and resistance, and can be used by those interested in both short and intermediate phases as well as long-term outlooks. Simply put, the SRL measures the line of an uptrend or a downtrend.

Constructing SRL
Developed by the late Edson Gould, SRL is constructed by drawing a line from the most recent high of the uptrend down to the low of the same trend. Then you must divide the line into a third and then again into two-thirds. Having this done, the chartist will draw a line from the low point of the trend through these two points. The lines you have now created show the possible support on retracement. When studying a chart wherein a downtrend is occurring, one needs simply to reverse the process just discussed: every time an issue creates a new high or a new low, the speed resistance lines must be redrawn.

Interpreting SRL
In Stocks and Commodities Magazine, Jayanthi Gopalakrishnan writes, “If you are considering entering a long position in a security that is rebounding from a downtrend, identify the major high and low, insert the speed resistance lines and the study the price action at the two-thirds line.”

Some traders use a 50% retracement as a rule of thumb, and many agree that a pullback from a major trend will always be within a range of 1/3 to 2/3 of the most recent upward movement; the 1/3 level is the minimum an investor can expect. At this level of 1/3 giveback an increase in trading volume will occur because of the increasing number of individuals that understand retracements and wait for them as an entry into the issue. Investors have also learned that, should the retracement continue to fall through the 1/3 level and past the one-half (50%) mark, the next support will be found at the 2/3 level. And again, for those of you looking at an issue that is currently showing a downtrend, the reversal is true.

http://i.investopedia.com/inv/articl...hart1small.gif
Chart Created with Tradestation


In the first chart of SunMicrosystems Inc. (SUNW-Nasdaq), the first line is drawn from about the $5 mark in early Sept 1998 to the high mark of the uptrend in late Aug 2000, which is at about the $69 level. The 1/3 SRL is then drawn off the major high and major low is the 2/3 line. As the tech stock bubble burst, SunMicrosystems started the free fall, and, as you can see, the stock price was buoyed for a period of time at about the $42. The price action then bounced back to a high of $53 Dec 6 before continuing the slide downward. Seasoned technicians would have determined that, at this last high point on Dec 6, the trend reversed and not just as a correction in an uptrend. At the 50% retracement mark, no resistance was visible, and the same can be said for the 1/3 mark at the end of Aug 2001, when SUNW was at $13. As the stock price fell with ease through the 1/3 mark, chartists would then have expected the stock price to drop to the levels at which the uptrend first started.

http://i.investopedia.com/inv/articl...hart2small.gif
Chart Created with Tradestation


In the second chart of Canadian tech-giant Nortel Networks we see a downtrend that started in the late summer of 2000 and bottomed out Oct 2002, at about the $0.50 level. The 2/3 speed resistance line is drawn and the price action cuts through the line at about $1.50 in mid-November. As this was the first level of resistance, technicians waited to see whether or not investors were ready to come back into the arena of a somewhat risky penny stock. Little resistance was met here and the stock price continued to the 50% speed line, and it appears as though investors are ready again to invest capital in Nortel.

Speed resistance lines allow investors the opportunity to time their entry into an issue that they can determine has turned the corner of a downtrend and established a bonafide uptrend. On the flip side, it indicates to an investor holding a long position that the uptrend of that stock has run its course and that it is now time to sell.



Since we started with a quote from Stocks and Commodities writer, Jayanthi Gopalakrishnan, let's conclude with a few more of his words:

If you are considering entering a long position...insert the SRL and study the price action at the two-thirds line. If there is enough resistance to stop prices from breaking above this line, do not enter long positions. Only when prices close above this line for two consecutive days should you enter your long positions. If prices seem to decline from or close to this line, you might consider entering short positions.



MY LAMENTING: STILL I DON'T HAVE THE REAL SRL INDICATOR............. Is it same s Fib fan? ( I found Fib Fan and Fib ARC and Fib Retracement,Fib time zone, etc)

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