temporary s/r approach

low seems to be confirmed, 2 shorts, 0,05 lots each at 1,3483

high still in the making - 2 long orders, 0,05 lots each at 1,3674

longs triggered sl, shorts closed at 9:00 gmt

balance: $984,71

you are right, that's why I'm about to learn the approach you've posted

Regards

low seems to be confirmed, 3 orders short, 0,049 lots each at 1,3564
1 long 0,049 lots at 1,3625

edit:
3 shorts have triggered tp
1 long cancelled at 12:00 gmt
balance:1018,35

3 short orders, 0,051 lots each 1,3473
1 long order 0,051 lots 1,3585
if during the next hour other highs and lows show up, the orders will be adjusted accordingly.

edit:
new low shows. 3 short orders changed to 1,3520

shorts triggered sl, new account balance $995,25

Hi all,

I will continue testing the zzmacd 2h/day approach on this thread.
But I'm also going to post trades according to the method swakop has provided the example charts for. The indicators used origin from the THV system. Since swakops method deals with temporary support and resistance levels also, I don't see why to open a new thread.

Regards

the rough structure:
-if thv trixhisto indicator is all red check on the closest temporary support point, displayed by barry s/r indicator and/or by zigzag
-place a short order a few pips below and wait
-use a daily support and resistance level related sl and tp
or
-use an atr20 based sl and tp which also takes daily s/r points into account

more indicators like thv trix div, thv ichimoku etc could help finetune entries and exits, which are not displayed on the example charts as to show the rough structure of the approach

the 15 min chart shows 1 long entry and 3 short entries today
the 30 min chart shows 3 short entries today

the thv system can be found here: http://www.forexfactory.com/showthread.php?t=127271

1 order long, 0,05 lots, 1,3488
3 orders short, 0,05 lots each, 1,3416

long has hit tp. account balance $1006.40

shorts will be cancelled at 12:00 gmt

on the 15 min chart trixhisto is all green and a resistance displayed by barry s/r and zigzag at MS1. trixdiv is green and about to cross. atr20 has the value of 20

I place a long order at 1,3490, above MS1 with 20 sl/tp

what bothers me about this setup is the countertrend and possible whipsawing around MS1

we shall see

edit:
+20 pips

I'm with you, but SL= 1.3465 (25 pips)
TP = 1.3590 = 4 R
StepStop all 25 pips

Cheers swakop

looks like your trade is on its way. how did you determine the sl of 25?

Regards

It's "your idea". You've used sl/tp 15/20 pips. I test a sl @ 25 pips.

Ok, I'm stopped out break even.

3 long, 0,05 lots each at 1,3620
1 short, 0,05 lots at 1,3442

none got triggered. all cancelled

on 15min chart trixhisto is all green, barry s/r shows a temp resistance. trixdiv is green and about to cross atr shows a value of 40
I have placed a long order at 1,3615 sl/tp 40 pips

edit:-40 pips

hi ashes,

the daily average was over 200 pips in this time. On tf15 I would wait, that the fast trix cross the slow trix.

swakop

That's my setup for the night.
[email protected]
sl = 1.3627 ( 25 pips risk)
tp = 1.3752 ( 4r)
stepstop = 25 pips

yes, I quickly realized that this was a trigger happy entry. following mechanically the basics without taking the daily moves, the price already had made, into account.

is your 4h entry based on the ichimoku cross and price close above and
support on mid channel?
I would wait for also the trixhisto daily fast to indicate long before I enter. but it could take days ... if not weeks for this to happen

Best Regards

I think, that the Euro does move in a range now. In 4h chart we see 3 inside bars. My entry is above of the big move candle. Ok, I would like, if in TF 30 I've all lines in green, Trix and trixhisto. We'll see.

Cheers swakop


Thanks cobraforex and team for your labour and ideas!!

macd hasn't touched either -0.00100 or 0.00100 in more than three hours, and 8sma is flat on 0. no trades before us session

Trix histo don't show a clear trend.

I guess sideline is the place to be right now. maybe us session pushes the price to some direction.

Regards