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Weekly Trend Trading Method

  • #61
  • Oct 26, 2009 7:19am Oct 26, 2009 7:19am
Quoting lgtj
I want to show you guys one more thing. Look at these daily charts. The red lines are on the most recent 2ma cross signal alert. Would these be considered as valid signals? If so, why? If not, why not? I want you all to know what to look for.
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You guys gave good answers, and you were partially correct. The answer is both are not valid signals. Why? On both of the charts the 2ma crossover appeared, the 15 slope indicator was different than the 30 slope indicator(aggressive valid signal which is ok), the rsi is on the correct side of the 50 line, BUT there is too much space between the macd bars and the signal lines on both charts. Also the macd signal lines aren't going in the right direction yet. The trade is still developing for us. The sweet thing about this method is that we don't go to the trade, but the trade comes to us if we're patient enough to wait. But I'm glad you guys are paying attention to the signals. Great job!!!! I'll post more trivia charts for you later. I'm at work right now, and I'll pop in from time to time to answer any questions that you might have.
  • #62
  • Oct 26, 2009 10:33am Oct 26, 2009 10:33am
Quoting lotv
Gentlemen, Western Australia makes the finest red & white wines,,.upon rising from my pit,I take a noggin ( now theres an olde word) of the finest red cabernet/sauvernet ....a noggin consists of a pipe to the barrel..... hence my poor judgement on some occasions....so I MAY have been wrong....our Mexican trader must be right....I. am lacking in Pride and predjudice and once again settle for the bottom of the class.... continue to teach me.....Bill.
Very good, my man.

However, having lived near the Napa Valley for most of my life, I must correct an error on your part . . . I thought everyone knew the best wines in the world come from the Napa Valley.

But, I'm not a stubborn man . . . if you were to drop by with a sampling of Western Australia's finest, I'd be more than glad to share a "noggin" with you.
Greetings from Guanajuato, Mexico
  • #63
  • Oct 26, 2009 3:57pm Oct 26, 2009 3:57pm
Hello fellow traders. I just wanted to show you a trade that gave a valid signal, but I chose not to take the trade. The valid signal actually worked out. The signal appeared on the usdcad daily chart. The 2ma crossover indicator appeared on 10/20/09(red line). The other conditions were met on 10/23/09(yellow line). The reason I didn't take this long trade was because there was too much resistance in the area(red arrows) for price to be rejected. Plus the upper trend line of my downtrend channel is just above the resistance line 1.0581. If I had entered this trade at 1.0543 with take profit at 1.0682, I would've made 139 pips on this trade. That's ok, there will be more trades in the near future.
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  • #64
  • Oct 26, 2009 7:28pm Oct 26, 2009 7:28pm
Ok. We got some more signals tonite. Look at these charts and tell me if they're valid or not with an explanation of your answer.
Here they are. Good luck!
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  • #65
  • Oct 26, 2009 7:42pm Oct 26, 2009 7:42pm
We have two aggressive valid signals tonite. Eurusd short and Usdchf long on the daily charts. Remember for the aggressive entries, we drop down to the 4hr chart to set your orders. Look at these charts.

Eurusd daily/4hr
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Usdchf daily/4hr
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  • #66
  • Oct 26, 2009 8:01pm Oct 26, 2009 8:01pm
Took a few notes as to why or why not...

GBPUSD = No, The 2nd confirmation slope is not matching, Red MACD bar needs to be BELOW the white line, RSI is resting...not crossed

GBPCHF = No, This on does have some curious qualities though... I believe that it is approaching the resistance for the channel, as well your MACD did not "eclipse", it sort of rebounded off of itself. To boot...2nd slope is not confirming.

NZDUSD = Yes, This to me looks very valid. Matching slopes, Red MACD below white. Kinda bad eyes on my part but it also looks like the RSI is about to cross if not already a little. Looks almost text book to me...

AUDUSD = All I can say about this one is "I Hope"....I'm in it...LMAO!! Looked perfect to me. Keeping my eye on that resistance though.. I believe I jumped the gun a little getting in, but so far it's +35 pips

EURGBP = Tricky..... My vote is on "NO". With it showing some respect for the .90 region I would be afraid of the turnaround. Although MACD and RSI agree, still waiting on confirmation 2nd slope indi. I can see why it may end up being valid...but I personally would not take this one!


Curious to see the results and your opinion...all I know is my AUDUSD better be right! LOL!!

Thanks again lg, the daily quizes really help sink the setup in...

(Whoh...my High School Math Teacher better not see me compliment somebody on daily quizes!) LMAO!!
  • #67
  • Oct 26, 2009 8:24pm Oct 26, 2009 8:24pm
Oh by the way, here are the pairs that I monitor: eurusd, gbpusd, audusd, nzdusd, usdcad, usdchf, usdjpy, gbpjpy, eurjpy, audjpy, nzdjpy, eurgbp, and gbpchf.
  • #68
  • Oct 26, 2009 10:39pm Oct 26, 2009 10:39pm
Hi Lgtj, this system looks brilliant so far I will be backtesting it this week when I can, I am using Fx Pro metatrader 4 and for some reason all the signals that you just got a few hours ago do not show up on my charts, infact my 4hour chart on EUR/USD looks different from yours slightly I'm not sure why. Which version of MT4 do you use and I can transfer to that to do some backtesting across the pairs you use.

I've been using a similar system which uses the trend slope indicator macd and 2EMA indicator on the 5minute timeframe but want to slow down on my trading so I have more time to backtest the system and spend time with the family, so your idea is great. A good mixture of a mechanical system and common sense using trendlines e.c.t to not just blindly take each trade. Great stuff, good luck, am looking forward to testing this system.
  • #69
  • Oct 27, 2009 1:57am Oct 27, 2009 1:57am
Quoting kaaea
Hi Lgtj, this system looks brilliant so far I will be backtesting it this week when I can, I am using Fx Pro metatrader 4 and for some reason all the signals that you just got a few hours ago do not show up on my charts, infact my 4hour chart on EUR/USD looks different from yours slightly I'm not sure why. Which version of MT4 do you use and I can transfer to that to do some backtesting across the pairs you use.

I've been using a similar system which uses the trend slope indicator macd and 2EMA indicator on the 5minute timeframe but want to...
Welcome to this thread kaaea. Ibfx is my broker, and I developed this method for people just like you and I who have a life but don't want to spend the majority of the time in front of a computer. Thanks for your comments, and I'll be looking forward to your input.
  • #70
  • Oct 27, 2009 2:31am Oct 27, 2009 2:31am
Quoting Mrezoot
Took a few notes as to why or why not...

GBPUSD = No, The 2nd confirmation slope is not matching, Red MACD bar needs to be BELOW the white line, RSI is resting...not crossed

GBPCHF = No, This on does have some curious qualities though... I believe that it is approaching the resistance for the channel, as well your MACD did not "eclipse", it sort of rebounded off of itself. To boot...2nd slope is not confirming.

NZDUSD= Yes, This to me looks very valid. Matching slopes, Red MACD below white. Kinda bad eyes on my part but it also looks like...
Hello Mrezoot. I'm impressed with your analysis of these charts. Here are the answers.
Gbpusd - Both slopes don't have to match. As long as the 15 slope indicator is the correct color(Aggressive valid signal) it's ok. The rest of your answer is correct.

Gbpchf - The 15 slope indicator is the wrong color and the rest of your answer is correct.

Nzdusd - Not a valid signal because the rsi didn't cross the 50 line, but all of the other signals are ok. It was almost a text book valid
signal.

Audusd - Not a valid signal because the rsi did not cross the 50 line and there's a support level at .9139 that the previous candle bounced off of and closed above it. If price had closed below it, then maybe the rsi would've crossed below the 50 line. You got in too early. Patience is the key to this method.

Eurgbp - Great analysis. The 15 slope indicator is the wrong color.

Great job. Let me give you a couple of pointers. When all of the indicators are showing different things, don't take the trade. It's a sign of consolidation or a ranging market. You don't want to get caught in those conditions. If you're not 100% sure about a signal, don't take the trade. Again, great job!!!!
  • #71
  • Oct 27, 2009 2:59am Oct 27, 2009 2:59am
Thank you for your review Lg!

Good to see that it IS as simple as I first thought. As I stated before, this is similar to the system I am using now in regards to patience being the primary component.

My current system includes MACD+Stoch with B.B.40 over 10-pip Renko Bricks
(I'm ol' skool C4 and Nitro thread LOL...Edgetrader all the way!!....ooop sry, don't think he left on good terms )

So seeing the MACD here was nice since i'm used to it. There are differences obviously, primarily time based, but finding a more reliable entry is always worth the wait!

This method definitely helps get you away from the screen though!

I have decided to run this system on it's own UK Alpari Demo while I keep my primary system to my US Alpari.
I'll keep posted my ongoing results so we can keep reviews and possibly answer some questions before there asked.

Look forward to bombin' some more quizes and stealin' some more pips with ya Lg! Keep up the good work!
  • #72
  • Oct 27, 2009 6:01am Oct 27, 2009 6:01am
Quoting Mrezoot
Thank you for your review Lg!

Good to see that it IS as simple as I first thought. As I stated before, this is similar to the system I am using now in regards to patience being the primary component.

My current system includes MACD+Stoch with B.B.40 over 10-pip Renko Bricks
(I'm ol' skool C4 and Nitro thread LOL...Edgetrader all the way!!....ooop sry, don't think he left on good terms )

So seeing the MACD here was nice since i'm used to it. There are differences obviously, primarily time based, but finding a more reliable entry is always...
You're welcome.
  • #73
  • Oct 27, 2009 11:27am Oct 27, 2009 11:27am
Hello again, I am now using IBFX and all last nights setups match up just getting my eye used to the setups now, Mrezoot thanks for your analysis its helped identify where I'm right and wrong, looks like the aggresive trades turned out well for those who took them on Eur/Usd, Usd/Chf, well done.

Happy trading all talk soon.
  • #74
  • Oct 27, 2009 12:36pm Oct 27, 2009 12:36pm
Quoting kaaea
Hello again, I am now using IBFX and all last nights setups match up just getting my eye used to the setups now, Mrezoot thanks for your analysis its helped identify where I'm right and wrong, looks like the aggresive trades turned out well for those who took them on Eur/Usd, Usd/Chf, well done.

Happy trading all talk soon.
Just study my posts and look for the same set ups when you do your back tests, and the set ups will jump out at you. I'll continue to post valid set ups for all to see. I'm in profit now on my live account with eurusd and usdchf currently.
  • #75
  • Oct 27, 2009 3:23pm Oct 27, 2009 3:23pm
I posted the wrong pivot indicator in post #2. Here's the correct one. Sorry about that.

Attached File(s)
File Type: ex4 P-Monthly.ex4   6 KB | 794 downloads
  • #76
  • Oct 27, 2009 3:26pm Oct 27, 2009 3:26pm
Here are the live trades that I took last nite based on the aggressive valid signals. Sweeeeet!!!

Eurusd
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Usdchf
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  • #77
  • Oct 27, 2009 4:03pm Oct 27, 2009 4:03pm
Hello all!

I had noticed that the indi posted in #2 was the weekly originally.

Since nobody else seemed to throw up the flag on it I though maybe it was just my mistake so I went searching for an S/R indi that seemed to match your charts lgtj.

I came across this one and seems to be working well for me. Seems pretty close to your levels.

Auto Pivot 2

It is adjustable for Daily, Weekly, and Monthly S/R and Pivots.

These indis seem to be kind of a preference of how the lines are drawn. If they are working, they all should be about the same, RIGHT?? ....so just giving ya'll another option that seems to be respectable.

P.S. This is from another thread SOMEWHERE in the vast FF-ness!
Attached File(s)
File Type: ex4 ###Auto Pivot2.ex4   16 KB | 453 downloads
  • #78
  • Oct 27, 2009 4:49pm Oct 27, 2009 4:49pm
Keep an eye on gbpchf daily. We could possibly have a conservative valid signal if the candle closes as it looks on this chart. There's a 2ma crossover signal to go long, both slope indicators are blue, the macd bar has pulled away from the signal line, the rsi is above the 50 line, and if price closes above the monthly pivot point, enter long on this one. I have to wait another 2hrs and 15 min before this candle closes. If the above conditions are still in place, I'm entering this trade.
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  • #79
  • Oct 27, 2009 5:16pm Oct 27, 2009 5:16pm
Thanks for the pivot indicator, I forgot about putting that on. Gbp/chf looking good, will be around as the day closes in search for setups to eyeball.

So far eyeballing the pairs you use on the weeklys seem to catch good 4-5month moves and are good mostly at catching the trend and missing out the choppy peroids in certain currencies. Am trying to get my hands on some more data as only have charts back a couple of years will keep you updated.
  • #80
  • Oct 27, 2009 6:16pm Oct 27, 2009 6:16pm
I have attached 2 charts that I am unsure of.

The first is a Daily of the AUDCAD.
(Today I decided to open a IBFX Demo account so I to could be on the same platform and pickup the same signals.)

I opened all the charts and found THIS!!!

Is there any explanation to why the feed would be so all over the place?
I understand down on the 1m and even 5m seein some of that...BUT DAILY?

Just wondering if yours is the same in that time or just a bad feed on my part. I've rebooted it 3x now and still no change in refresh..?

Ok, the second is a chart of the GBPCHF.

This is the signal that is forming you just gave warning of....However on my chart I do not have the 2nd confirmation slope in my favor?

I can confirm slopes on 15 and 30, do yours remain true to post #1 settings still?

Just curious.

It looks like it will confirm on mine as well, but might be a bar behind..which on daily TF I would think might be kinda important...? That might just be the scalping in me talking...thats why i'm throwing it up for debate!

What ya'll think?

(Oh and the AUDUSD that I took to early is still riding a +40 @ the moment..and keeps looking better and better...Thanks again Lg!)
Attached Image(s) (click to enlarge)
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