Follow my advice at your own peril....
DislikedThe channel method was never meant for anything other than a 1 hr timeframe. The channel size is very specific
On the 1 hr timeframe, your tp should be 232.45 for the first lot and let the second lot runIgnored
DislikedGood for you Billser for getting out of that one positive. Backtesting this shows it will hurt bad during a ranging market, as we all know ma cross systems do. It will reward nicely though in a trend, again this is not news to most of us. I don't think this is any better or any worse than other ma crossover systems. Money management will save you with it. If you can weather the range periods then you should make money in capturing the trends.Ignored
DislikedI also added a P-sar and noticed that when the dots change your safe to get out and when it goes back in your diretion your safe to get back in, as long as the 9 has not crossed the 100. However it will change back and forthe several times in a good run.
BTW this seems to work on all TFs also. Remembe it will work on other pairs so it things flatten out try check another pair for a while. Hope this helps.Ignored
DislikedI don't always follow the RVI religiously.. In this instance i have entered the Short as I know that the GBP/JPY is seriously over bought.Ignored
DislikedThe RVI will give you a confirmation of momentum.. So when it is below Zero It means we are most probably in for a solid move.
I usually take all of the crosses then watch the RVI and make sure it heads past the Zero.. If it doesn't then i may implement a TP or Even close the position.
Remember your success will come, when you learn to surf the market like a wave.. and work out the patterns that make that wave worth riding.
I suggest entering all the crossovers then using discretionary factors to determine when to exit.Ignored