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Weekly Trend Trading Method

  • #481
  • Dec 17, 2009 7:32pm Dec 17, 2009 7:32pm
Quoting yesbee1
Hi Lg,
One last one for 12/17.

The GBP/AUD seems like a great entry. Thanks.

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You already missed the entry on this pair, but I would be careful because the rsi is below the 50 line on the weekly chart. I don't have this pair on my platform. So I can't see analyze it on my computer.

P.S. I just noticed that you have rsi 14 on this pair instead of rsi 8. Why?
  • #482
  • Dec 17, 2009 8:36pm Dec 17, 2009 8:36pm
Hi Lg,
The RSI 14 was a mistake. Thanks.
  • #483
  • Dec 17, 2009 9:27pm Dec 17, 2009 9:27pm
Hi Lg,
I have another question. Does all the indicators have to be in place on weekly also for confirmation? In other words what do you look in weekly chart for confirming the daily signal? Thank you.

Quoting lgtj
You already missed the entry on this pair, but I would be careful because the rsi is below the 50 line on the weekly chart. I don't have this pair on my platform. So I can't see analyze it on my computer.

P.S. I just noticed that you have rsi 14 on this pair instead of rsi 8. Why?
  • #484
  • Dec 18, 2009 9:38pm Dec 18, 2009 9:38pm
Hi Lg,
I spotted the following two opportunities (AUD/USD and AUD/JPY) today. Can you please comment? Thanks.

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  • #485
  • Dec 18, 2009 11:03pm Dec 18, 2009 11:03pm
Quoting yesbee1
Hi Lg,
I have another question. Does all the indicators have to be in place on weekly also for confirmation? In other words what do you look in weekly chart for confirming the daily signal? Thank you.
No, all the indicators don't have to be in place on the weekly for confirm the daily signals. Look at these audusd weekly and daily charts. On the daily, a valid short signal was given on 12/15/09. Although there is not a valid signal on the weekly chart yet, notice the bearish candle, the slope line is red, the macd bars are red and under the signal line, and the rsi is falling. This is further confirmation that the daily chart's short signal is good.
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  • #486
  • Dec 18, 2009 11:20pm Dec 18, 2009 11:20pm
Quoting yesbee1
Hi Lg,
I spotted the following two opportunities (AUD/USD and AUD/JPY) today. Can you please comment? Thanks.

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The initial entry for audusd has already passed, but price is in retracement at the moment. When a valid short signal is given on the 4hr, it should be ok to enter a short order. Look at these charts of audjpy. There is a valid signal on the daily, but look at how small the macd bars are. On the weekly chart, price is ranging. I would be careful with this pair. I don't feel confident enough to enter a trade with this pair yet.
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  • #487
  • Dec 19, 2009 10:19am Dec 19, 2009 10:19am
Quoting lgtj
The initial entry for audusd has already passed, but price is in retracement at the moment. When a valid short signal is given on the 4hr, it should be ok to enter a short order. Look at these charts of audjpy. There is a valid signal on the daily, but look at how small the macd bars are. On the weekly chart, price is ranging. I would be careful with this pair. I don't feel confident enough to enter a trade with this pair yet.
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I agree with the being carefull with the AUDJPY , Those MACD bars are not showing any direction at all.
  • #488
  • Dec 20, 2009 7:15pm Dec 20, 2009 7:15pm
Hi, just looking at NZDUSD like you said...and what you thinking now I dont see anything not to enter or am I missing something -- would like to know to see if I see

good trades
  • #489
  • Dec 20, 2009 7:51pm Dec 20, 2009 7:51pm
[quote=Pedolino;3319257]Hi, just looking at NZDUSD like you said...and what you thinking now I dont see anything not to enter or am I missing something -- would like to know to see if I see

good trades[/quote
Look at these charts of nzdusd. Still looks good to me.
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  • #490
  • Dec 29, 2009 9:59pm Dec 29, 2009 9:59pm
Thread has been pretty quiet for a few weeks...as even the lower TF methods are a little scary with lack of trending.

"End of Year" is the time for FOREX vacation and its almost over!

Come NEW YEAR I look forward to knocking down some more pips with ya'll!

HAPPY NEW YEAR LGTJ AND ALL FOLLOWERS!
  • #491
  • Jan 17, 2010 7:40am Jan 17, 2010 7:40am
So who's still using this method and having success? I realised it works fairly well on weekly, daily and 4 hour but lower time frames don't work very well.
  • #492
  • Jan 17, 2010 1:30pm Jan 17, 2010 1:30pm
Does this method include weekly open crossovers?
  • #493
  • Jan 21, 2010 10:23pm Jan 21, 2010 10:23pm
Quoting shortass
So who's still using this method and having success? I realised it works fairly well on weekly, daily and 4 hour but lower time frames don't work very well.
Im am still currently using this method on one of my IBFX accounts.

I still only use the 4H, D, W, TF's since it is bigger movements,
with less screen time.

During the Holidays I dropped down to the 30m, H1 ,H4 using 30 for entries.

I am now back to the full TF.

When I get back to the terminal I can load some screens of current set-ups.

Assure you... This method is still VERY valid.

..........Even if the OP is M.I.A.
  • #494
  • Jan 22, 2010 2:56am Jan 22, 2010 2:56am
Quoting Mrezoot
Im am still currently using this method on one of my IBFX accounts.

I still only use the 4H, D, W, TF's since it is bigger movements,
with less screen time.

During the Holidays I dropped down to the 30m, H1 ,H4 using 30 for entries.

I am now back to the full TF.

When I get back to the terminal I can load some screens of current set-ups.

Assure you... This method is still VERY valid.

..........Even if the OP is M.I.A.
Hello Mrezoot. I'm still around. Happy new year. Glad to hear that this method is still working for you.
  • #495
  • Jan 22, 2010 11:50am Jan 22, 2010 11:50am
Quoting shortass
So who's still using this method and having success? I realised it works fairly well on weekly, daily and 4 hour but lower time frames don't work very well.
I will agree that it is MUCH more choppy and there are false signals... therefor you will need to be VERY patient.

In the last few days i've had more screen time than usual so I put in a few lower TF's. M5-M15 so as promised...some screens.

GBPJPY 30 TP = 30 pips
USDJPY 30 TP = 30 pips
USDCAD 10 TS = 12 pips

I believe the most important aspect of the lower TF's in this system is realizing your "Likely" obtainable TP.

Not just a hard 10-15-20 pips.

If i think I can only get 7 out of it...I do

If i think I can get 30 out of it. ..... I do

As I said before, I have gone back to the higher TF's now that some market movement is finally back! (+100 pips)
But as Lg can vouch... I was like you... still like to keep an eye on some scalping if I have the time to wait....

This thread was my way of weaning off of the M5-15 crackpipe.

Scalping is no different that anything else....

You will not really quit until YOU are ready...

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Lgtj Hello Mrezoot. I'm still around. Happy new year. Glad to hear that this method is still working for you.

Hello to you as well Lg! Hope the New Year is treating you well in Family and FX!

Hoping that we can continue the thread and continue to enlighten those on the beauty of "minimal" screen time!

I know its opened my eyes!
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  • #496
  • Jan 22, 2010 11:59am Jan 22, 2010 11:59am
Quoting Mrezoot
I will agree that it is MUCH more choppy and there are false signals... therefor you will need to be VERY patient.

In the last few days i've had more screen time than usual so I put in a few lower TF's. M5-M15...
If you're scalping with this method on the 5min chart, follow the 1Hr trend. Keep up the good work, and I'll be glad to continue this thread.
  • #497
  • Jan 22, 2010 12:06pm Jan 22, 2010 12:06pm
Quoting lgtj
If you're scalping with this method on the 5min chart, follow the 1Hr trend. Keep up the good work, and I'll be glad to continue this thread.
YES YES YES!! This is VERY IMPORTANT!!

Don't know how I forgot to mention that!

If you recieve a signal that confilicts w/ the H1 trend, NO GO!!

Not to condone in lower TF's but that was the intention of the thread. (Expose the Trend)

So remember thats why your here..... To Trade the Trend.
  • #498
  • Jan 22, 2010 3:47pm Jan 22, 2010 3:47pm
Here is the last one for the week.

Cut @ 18 pips since I try to not carry over w.e. on small TF trades.

EURJPY M15 w/ confirmation in M30 and H1 of trend.

See ya'll next week...
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  • #499
  • Jan 22, 2010 10:29pm Jan 22, 2010 10:29pm
In the nature of all things, one can never leave "good enough" alone.

I have been using this system since the birth of this thread, which has not been THAT long (round 3 1/2 months) and all the while, making consistent profits even when my other systems were falling a little more "miss" than "hit".

I stuck in here and started to realize a common trait amongst "Pro" traders.

THEY DON'T SPEND EVERY MINUTE OF EVERY DAY IN FRONT OF A SCREEN!

The BIG money is in the BIG movements... which are on BIG TF's!

* I will here acknowledge that w/ proper MM, scalping and low TF trading is possible and can be VERY profitable, but requires MUCH more emotion and thought PER TRADE, IMHO, than a system like this one.

All that said, I continued to study the higher TF's and their patterns and tendencies.

The basis that Lgtj had laid out was @ the right place @ the right time for me.

Keeping his template in place on one broker, I began to work on my own twist on what had been provided.

Indi by indi they came and went (like many/all traders do) and I have now been using this set-up for about 2 months (ish) w/ great results.

Still using acknowledgement of S/R, Pivots, Big #'s (.X000)

This is nothing different than the original set-up, just slightly cleaner n clearer IMHO

- The RSI 8 line has been replaced w/ a 2-tone signal filter. (This helped me see whether the RSI was over 0.0 with my bad eyes n' all! lol)

- I decided to go with a different signal indi than the 2ma. (This filtered out some of the "whipsaws" that resulted in a rouge non-valid arrow)

That's all that has been changed other that colors n such.

If anyone would be interested I can load the templates w/ prefered TF's.

As I said before, I believe that this is ALL that you need to be VERY profitable whether you have all day in front of a screen or not!!
Quote
Hello everyone. I would just like to say that I've learned so much from FF, and I'm grateful to have learned from the FF community. I work full time during the day...........
I cannot thank you enough Lg for what you have given back... to me @ least!

Speaking for myself..... Priceless!

Enjoy the pips all and take advantage!
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  • #500
  • Jan 22, 2010 10:34pm Jan 22, 2010 10:34pm
Sorry I meant to post this in the other pics, but here is an A-B.

Like I said... same stuff. Just a little cleaner.
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