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Trendman scalping system

  • #361
  • Oct 14, 2009 9:28am Oct 14, 2009 9:28am
Quoting erbguy
i've been trying to figure out how to read the obv-rsi chart. Should i be expecting a significant move on the obv when the price moves in a direction? Or are we looking for it to hit high or low points or certain levels. Not sure.
Could someone explain?
rsi has to be colourless , you should use only the level line on rsi.

Obv must go down or up along with the price,look for today's action, obv has not made any mjor moves , so the price is decisive still
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  • #362
  • Oct 14, 2009 9:29am Oct 14, 2009 9:29am
thx for sharing.

good luck
  • #363
  • Oct 14, 2009 9:37am Oct 14, 2009 9:37am
Quoting trendman
rsi has to be colourless , you should use only the level line on rsi.

Obv must go down or up along with the price,look for today's action, obv has not made any mjor moves , so the price is decisive still
Makes sense.. Thank you. Price just seems to be ranging right now and I can see that on the OBV now. And Thanks, WilteredFire, for the tip on trend lines
  • #364
  • Oct 14, 2009 9:43am Oct 14, 2009 9:43am
Quoting WilteredFire
Drew two trendlines on the OBV, top trendline got hit a while ago and it didn't seem to penetrate it, seemed to respect it. Lets see what happens with price action if we get a break with these lines. I HOPE using trendlines on the OBV can hold some water Lets see...
using trendlines on OBV is the best solution to understand the trend
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  • #365
  • Oct 14, 2009 9:49am Oct 14, 2009 9:49am
divergence on 5 min macd, careful,good sign , we might see an up move, lets wait
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  • #366
  • Oct 14, 2009 10:05am Oct 14, 2009 10:05am
Quoting trendman
That is okay,you had to come out yesterday's high line
Ok thanks Trendman ! But for entry do wait for price close below or above if it s a long trade the 30 ma ? thanks

Luk
  • #367
  • Oct 14, 2009 10:08am Oct 14, 2009 10:08am
Quoting PipsRider
Ok thanks Trendman ! But for entry do wait for price close below or above if it s a long trade the 30 ma ? thanks

Luk
Well,today has just proved that it's a bad day today,just follow from the side my man
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  • #368
  • Oct 14, 2009 10:13am Oct 14, 2009 10:13am
Quoting trendman
divergence on 5 min macd, careful,good sign , we might see an up move, lets wait

sorry trendman, please forgive my newbie question: where is the divergence at the moment?
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  • #369
  • Oct 14, 2009 10:18am Oct 14, 2009 10:18am
Quoting blackmovie
sorry trendman, please forgive my newbie question: where is the divergence at the moment?
Look at between 13.00 pm and 15.00pm and current low macd, macd is doing very slow lows
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  • #370
  • Oct 14, 2009 10:34am Oct 14, 2009 10:34am
Quoting trendman
Well,today has just proved that it's a bad day today,just follow from the side my man
So, are you not gonna be trading today based on PA from 1300-1500?
  • #371
  • Oct 14, 2009 10:37am Oct 14, 2009 10:37am
Quoting erbguy
So, are you not gonna be trading today based on PA from 1300-1500?
I have only taken 6 trades so far and I'm not going to trade anymore today, It's just not good to trade
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  • #372
  • Oct 14, 2009 10:39am Oct 14, 2009 10:39am
Quoting trendman
I have only taken 6 trades so far and I'm not going to trade anymore today, It's just not good to trade
Is there also significance when the 5M 57 & 62 MA's travel together and one on top of the other?
  • #373
  • Oct 14, 2009 10:44am Oct 14, 2009 10:44am
Quoting erbguy
Is there also significance when the 5M 57 & 62 MA's travel together and one on top of the other?
It means the pa is still flat,yes something you should follow
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  • #374
  • Oct 14, 2009 10:48am Oct 14, 2009 10:48am
OBA trend line touched bottom and bouncing up again. Lets hope it breaks up and goes up a good distance.
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  • #375
  • Oct 14, 2009 10:58am Oct 14, 2009 10:58am
Quoting FormulaOneFa
OBA trend line touched bottom and bouncing up again. Lets hope it breaks up and goes up a good distance.
I think another strategy is to continue to talk negatively to your screen. It seems to listen to you and does the opposite today.. lol
  • #376
  • Oct 14, 2009 11:59am Oct 14, 2009 11:59am
Not a good day. not much trading!
  • #377
  • Oct 14, 2009 12:24pm Oct 14, 2009 12:24pm
Typical forex....During the time of volume, theres sod all for a Trend, just when londons closed up and new yorks getting more and more dry for the day, THEN we have a move.

Absolute piss take! Arghh. Trendman: What seems to be the plan for the m5 EU now? We want the price to come back down to near the m5 MA's right?

Would you be able to explain step by step in this case what you would wait for once price comes back down to the ma's and how you would use the m1 the enter after an m5 retrace?

Would you wait for price on m1 to just cross up over the 30 ema's on the m1 chart, or wait for price to shoot through the 30 ema's on the m1, come back down for a small retrace and then head back up in the direction of the m5?

Thanks
  • #378
  • Oct 14, 2009 12:40pm Oct 14, 2009 12:40pm
Well, I'll follow to points 1.4919 and 1.4878,these are the congested areas,15 min chart looks absolutely sh..

OBV has to show me a direction,at the moment nothing

So I got to see a good PA ,also 5 min chart 200 ema showed a good support so it's another point I got to follow
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  • #379
  • Oct 14, 2009 12:54pm Oct 14, 2009 12:54pm
Hey Trendman,

I've loaded the indicators and template into my metatrader. However, when I apply the template, I don't get the TRIX or the MACD. I see that the MACD must be set up seperately, but I can't seem to figure out the TRIX indicator. If this has already been addressed, I will find it, but still reading through the thread and haven't come across it yet.

Thanks
  • #380
  • Oct 14, 2009 1:02pm Oct 14, 2009 1:02pm
Quoting Phonetic
Hey Trendman,

I've loaded the indicators and template into my metatrader. However, when I apply the template, I don't get the TRIX or the MACD. I see that the MACD must be set up seperately, but I can't seem to figure out the TRIX indicator. If this has already been addressed, I will find it, but still reading through the thread and haven't come across it yet.

Thanks
Please get the trix from THV forum
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