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  • #341
  • May 8, 2009 4:13am May 8, 2009 4:13am
Quoting sholmes9000
ok got it....
the 1 hr euro chart is developing a bullish crossover....do see some res at 1.3440/50 level. in your opinion, do you think can take long trade if dmi, adx & macd signals confirmed long? tks.
Hi holmes,

THe DMI signalled at 6.00 am GMT. However the MACD was not correct.

I would therefore leave this pair alone until there is a new signal on the DMI and the MACD confirms.
  • #342
  • May 11, 2009 1:34pm May 11, 2009 1:34pm
1 hr euro, just went short at 1.3590 with stop at 1.3607. adx rose to 28.5 from 27.9 & macd below signal. but price action has gone really quiet....
  • #343
  • May 11, 2009 3:19pm May 11, 2009 3:19pm
Quoting sholmes9000
1 hr euro, just went short at 1.3590 with stop at 1.3607. adx rose to 28.5 from 27.9 & macd below signal. but price action has gone really quiet....
Hi holmes,

This was a viald signal and you should not be in too much trouble with it.

The only thing that I can add for futre is that you are now trading outside the London session.

Euro and GBP pairs tend to lose their volatility after 5pm GMT.

Most of the moves happen when the London session is alive.

Also price has just moved thorugha round number.

If I were you I would set your trade to b/e as there is support at 13575 ish.
  • #344
  • May 12, 2009 2:37am May 12, 2009 2:37am
Quoting ACartwright
Hi holmes,

This was a viald signal and you should not be in too much trouble with it.

The only thing that I can add for futre is that you are now trading outside the London session.

Euro and GBP pairs tend to lose their volatility after 5pm GMT.

Most of the moves happen when the London session is alive.

Also price has just moved thorugha round number.

If I were you I would set your trade to b/e as there is support at 13575 ish.
ok got it....tks.
yes not much volatility as you said....got out b/e in the end.
and looks like eur 1 hr signalling long soon....
+dmi>-dmi, adx also increasing from prev bar, macd just above signal....
  • #345
  • May 12, 2009 3:25am May 12, 2009 3:25am
went long euro at 1.3650 with stop at 1.3604 as conditions met. but seeing res at 1.3665/70 area. it tested there once but has retraced, tempted to just get out.
what's your opinion acartwright?
tks....
  • #346
  • May 12, 2009 3:30am May 12, 2009 3:30am
Quoting sholmes9000
went long euro at 1.3650 with stop at 1.3604 as conditions met. but seeing res at 1.3665/70 area. it tested there once but has retraced, tempted to just get out.
what's your opinion acartwright?
tks....
Hi holmes,

I think this trade has a chance if it gets beyond 13670.

Next area to look at then would be 13735.

There is quite strong resistance at its current level.
  • #347
  • May 12, 2009 3:31am May 12, 2009 3:31am
Quoting ACartwright
Hi holmes,

I think this trade has a chance if it gets beyond 13670.

Next area to look at then would be 13735.

There is quite strong resistance at its current level.
tks for swift reply....
will keep watching stop & see how it goes.
  • #348
  • May 12, 2009 3:42am May 12, 2009 3:42am
Hi Cartwright! I was about to enter in u/chf. But I saw support at 1041. Decided to wait for next signal.

Thanks
Make money Not pips
  • #349
  • May 12, 2009 3:47am May 12, 2009 3:47am
Hi Acartwright

I have seen that your strategy also works very well on 1 m charts for getting small pips. What do you say about this.

Thanks
Make money Not pips
  • #350
  • May 12, 2009 4:13am May 12, 2009 4:13am
quite strong res here in euro....
hi acartwright, do you think shld move stop to b/e level?
tks....
  • #351
  • May 12, 2009 4:25am May 12, 2009 4:25am
Quoting sholmes9000
quite strong res here in euro....
hi acartwright, do you think shld move stop to b/e level?
tks....
I would move to b/e.
  • #352
  • May 12, 2009 4:30am May 12, 2009 4:30am
Quoting ACartwright
I would move to b/e.
ok....tks.
stop at b/e now....
  • #353
  • May 12, 2009 4:42am May 12, 2009 4:42am
broke 1.3650 & got out there b/e....
  • #354
  • May 12, 2009 5:56am May 12, 2009 5:56am
Quoting sholmes9000
broke 1.3650 & got out there b/e....
Hi holmes,

Nevermind there are plenty more trades to come.

If you had traded the system with g/u you would be up 35 pips.

soemtimes it is aobut picking the wrong pair but if you get the break even that is still as good as a winner.
  • #355
  • May 12, 2009 7:08am May 12, 2009 7:08am
Quoting ACartwright
Hi holmes,

Nevermind there are plenty more trades to come.

If you had traded the system with g/u you would be up 35 pips.

soemtimes it is aobut picking the wrong pair but if you get the break even that is still as good as a winner.
tks for the encouraging words.
been trading euro all this while....am exploring other currencies but would like to get more knowledge of your system first.
  • #356
  • May 12, 2009 8:12am May 12, 2009 8:12am
hi acartwright, on macd, are there any specific things to take note of? like bullish crossover when below zero line & bullish crossover when above zero line? is there any significance from your experience?

say when macd crosses signal line up from below & both are below zero line and quite far away from zero line, the trend tend to be stronger? as compared to a bullish crossover just below zero line?

tks....
  • #357
  • May 12, 2009 10:32am May 12, 2009 10:32am
Quoting sholmes9000
hi acartwright, on macd, are there any specific things to take note of? like bullish crossover when below zero line & bullish crossover when above zero line? is there any significance from your experience?

say when macd crosses signal line up from below & both are below zero line and quite far away from zero line, the trend tend to be stronger? as compared to a bullish crossover just below zero line?

tks....
Hi holmes,

There are no real specific things on the MACD that I can mention apart from the normal way to trade MACD.

In this strategy it is only a confirming indicator.

I would point out the following though:

1. MACD above signal line and above zero - strong upward potential
2. MACD above signal line and below zero - upward potential but could be a pull back - I normally check price action to see if it has strong upward potential or if it is going sideways.
3. MACD below signal line and below zero - strong downward potential
4. MACD below signal line and above zero - possible sideways or retracement. Look at PA to confirm.

Hope that helps.
  • #358
  • May 12, 2009 3:01pm May 12, 2009 3:01pm
Hey there AC,

Here is a situation where ADX and -DMI lined up, but MACD did not confirm until a bar later. The first vertical has ADX and -DMI but no MACD...the second vertical has all three. Is this a trade setup that you would pass on?

I took 60 pips on this so it did work out nicely....but I'm thinking it's outside your rules as indicated on the thread.

Cheers
CanuckCT
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  • #359
  • May 12, 2009 4:37pm May 12, 2009 4:37pm
Quoting balle1973
Hi Acartwright

I have seen that your strategy also works very well on 1 m charts for getting small pips. What do you say about this.

Thanks
Hi Balle,

Sorry to tkae such a long time to repsond - I have only just seen your post.

This strategy works on all time frames.

The reaosn I use hourly is due to the spread I trade on.

If you can get a big move on the 1m it is worth it but sometimes the moves can be 10-15 pips which means most of the profit is lost.
  • #360
  • May 12, 2009 4:43pm May 12, 2009 4:43pm
Quoting CanuckCT
Hey there AC,

Here is a situation where ADX and -DMI lined up, but MACD did not confirm until a bar later. The first vertical has ADX and -DMI but no MACD...the second vertical has all three. Is this a trade setup that you would pass on?

I took 60 pips on this so it did work out nicely....but I'm thinking it's outside your rules as indicated on the thread.

Cheers
CanuckCT
Hi Canuck,

Well I cannot tell you off if you make a profit now can I .

I try to trade when all 3 line up - this is just for being in a comfort zone.

I can then tell myself if I have a loser that I traded on the best set up.

If I go in late and do not stay with the strategy rules and lose it would be a case of well what if.

I think the more you get used to the signals from the DMI you can go in one bar later if MACD then confirms or one bar earlier if the MACD is close to a cross.

This is due to the DMI providing the more concrete signal.

What I would try to do is probably get to break even slightly earlier in the move if I am taking the signal a bar late.

As long as MACD is pointing in the correct direction I do not think it is too much of an issue - all the cross is is a cross past a 9 MA signal line.

Obviuosly what you have done with this trade works out so congrats.

Al
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