Mr John,
Did you see an high prob entry on EurUSD last few hours?
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To make this or any other Daytrading system more profitable..... you have to look for the major breakouts in a day (24 hrs). Here it is done by watching breakouts above or below all three Ribbons (TF1 TF5 and TF 15 zones).
Say you watch GBPUSD and EURUSD with this sytem for these major Breakouts or High Prob Trades (whats's in a name)..... when you see one occurring on either G/U or E/U.... you immediately start looking if a breakout is going to happen on the other one..... and next on other currency pairs as well....... for most of the time they occur pretty close to one another.
So in that way you actually start SwingTrading as well..... in fact that is what BasketTrading is also based on.
Breakout Swingtrades often occur simultaneaously. Another fact to keep in mind is that most of the time these breakouts occur because one currency makes a relative big move....
Here are three examples this afternoon of such a GBP move versus USD at 14:23 hrs, EURO at 14:25 hrs and NZD at 14:21 hrs.
Here are three examples this afternoon of such a GBP move versus USD at 14:23 hrs, EURO at 14:25 hrs and NZD at 14:21 hrs.
John
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Hi John,
Exemple 1 and 2 are obvious.
Exemple 3 is not very clear to me. Is the vertical line a 'high prob' short entry, because TF15 upper line was resistance, TF5 has a diverging triangle, and TF1 is allready above? And TF5 target is far away enough?
Don't remember when and where I found this one, but it's quite nice as an extra tool to determine Price Action.
I modified it so it now meets my requirements
You can use it in any chart. I use it in a pop up chart in a corner of the screen...... therefore I have included a template for this purpose.
It's important to know too that this indicator has a small refreshment issue when starting up the MT4 platform..... Go to the indicator and mouseclick right on it..... on the pop-up window appearing left click OK..... and it should be running with...
Hi John,
Exemple 1 and 2 are obvious.
Exemple 3 is not very clear to me. Is the vertical line a 'high prob' short entry, because TF15 upper line was resistance, TF5 has a diverging triangle, and TF1 is allready above? And TF5 target is far away enough?
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In example 3 there is a clear triangle shape overruling resistance/support..... so price is falling right through.
Hi John,
How do you use the tick indicator? Do you set it up on a 1min chart?
Or is there any other way to display price action on an MT4 chart with less than 1-min timeframe?
Thanks alot
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Hi Pipster,
Take a fresh chart from the menue...... You may set it to 1 minute if you like. Right click on it and attach the template.
Next resize this chart to a smaller window and put it in a corner of your screen or wherever you want it. You may have to right click on the indicator to solve the refreshment issue as outlined in the previous post regarding this tick indicator.
Take a fresh chart from the menue...... You may set it to 1 minute if you like. Right click on it and attach the template.
Next resize this chart to a smaller window and put it in a corner of your screen or wherever you want it. You may have to right click on the indicator to solve the refreshment issue as outlined in the previous post regarding this tick indicator.
Just a quick question going back to the original FX-50 setup. Has anyone neem trading this on 5mins??.....i've been having a good week and a half using this timeframe...Much much better (for me) than 1 min
Just a quick question going back to the original FX-50 setup. Has anyone neem trading this on 5mins??.....
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Always have the 5m chart up and it certainly seems to work but I havn't traded it because larger stops are required? How big your stops? Also are u checking next TF up before entry?
cheers, steve
Ive been slamming the 5m and that is all I use for this strat. My stops are between 20-45 pips depending on currency but my wins are 30-100 pips. with Id say about 75% winning percentage. I couldnt get consistency on the 1m but hey that may just be me glad to see others doing well with the 5.
Ive been slamming the 5m and that is all I use for this strat. My stops are between 20-45 pips depending on currency but my wins are 30-100 pips. with Id say about 75% winning percentage. I couldnt get consistency on the 1m but hey that may just be me glad to see others doing well with the 5.
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Hey kodflakes, here my percentage of winning its better in 5m too... but do you using the original fx50 or fxprime indicators or what?
Ive been slamming the 5m and that is all I use for this strat. My stops are between 20-45 pips depending on currency but my wins are 30-100 pips. with Id say about 75% winning percentage. I couldnt get consistency on the 1m but hey that may just be me glad to see others doing well with the 5.
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hi kodflakes!
it's good !
are you using my kino cci alerts indicator ?
one of mine i tell you to change settings ?
CCI79 or CCI24 and 100 & -100 levels ?
