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Channeling

  • #21
  • Apr 2, 2010 7:49pm Apr 2, 2010 7:49pm
Here's one possible view of the UJ 1H channel. There could be other viable ones. I wouldn't mind seeing them.
Attached Image (click to enlarge)
Click to Enlarge Name: UJ_1H.jpg Size: 255 KB
  • #22
  • Apr 2, 2010 8:08pm Apr 2, 2010 8:08pm
If we look at daily chart, we will see that resistence at 1.3590 holds and euro couldn´t break the red channel. So our daily expectation is still bearish and moves up to the blue channel are not probable yet...

Looking for downside confirmation at the hourly chart, today we saw a breakout of consolidation channel. This is important because if we see next week a clear break of support at 1.3470 (dotted black) meaning a confirmation of channel breakout, more downside movements are very probable... if euro is still strong and support at 1.3470 holds we have an opportunity to look for sells at the green trendline. A break above that trendline is needed to be bullish again on euro. So for next week i will be bearish in EU with targets of 1.3400 first and around 1.3250... lets see what happens!!!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu daily.gif Size: 12 KB
Click to Enlarge Name: eu 1h.gif Size: 16 KB
  • #23
  • Apr 2, 2010 8:49pm Apr 2, 2010 8:49pm
Quoting Pips_Cruiser
Here's one possible view of the UJ 1H channel. There could be other viable ones. I wouldn't mind seeing them.
What i think about UJ is that this week we saw a clear confirmation of the weekly blue channel breakout...so the down moves in UJ will not be probable for next months... i believe that we will not see 90.00 level again for the rest of the year...

Looking at daily chart we are at resistence zone just at 94.50. A retrace is possible but, 92.30 should hold uj and we dont expect a daily close below that level. I believe 97.30 is the next target for this pair. It was an interesting week for this pair, now we see that big money is bullish for the rest of the year.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: uj weekly.gif Size: 15 KB
Click to Enlarge Name: uj daily.jpg Size: 93 KB
  • #24
  • Apr 2, 2010 9:04pm Apr 2, 2010 9:04pm
Yeah! nice channel illustration , but .....

how to make trade decision is another story

anyone can draw superior trendline or blablabla ,,,, but missing the main point
" where to enter or exit """

just like the weatherman said , if tomorrow is not rain then we will have a sunshine day




anyway nice pix
  • #25
  • Apr 2, 2010 9:23pm Apr 2, 2010 9:23pm
Quoting LaTeCoMeR
Yeah! nice channel illustration , but .....

how to make trade decision is another story

anyone can draw superior trendline or blablabla ,,,, but missing the main point
" where to enter or exit """

just like the weatherman said , if tomorrow is not rain then we will have a sunshine day




anyway nice pix

Look for a trend... wait for consolidation... wait for a breakout... enter the trade... move the stop when S or R are broken to minimize a loss first... maximize profits then... ride the trend... thats my method.

Channels gives me the right look: trend and consolidation.

Experience and patience do the rest.

Good luck.
  • #26
  • May 13, 2010 11:28pm May 13, 2010 11:28pm
I am fairly new to using channeling by itself for entries. Is the M15 too small for entries, i.e., will there be too much noise?
I find the stops for H1 and above are a bit big for my account size.
“Make everything as simple as possible, but no simpler.” – Albert Einstein
  • #27
  • May 17, 2010 7:35am May 17, 2010 7:35am
Quoting gc7
I am fairly new to using channeling by itself for entries. Is the M15 too small for entries, i.e., will there be too much noise?
I find the stops for H1 and above are a bit big for my account size.
GC7, channels works in every timeframe. Obviously, like any other strategy smaller timeframes give more trades and more whipsaws. So, for using it you will need a smart plan, since in smaller timeframes you will have around five entries per week in most pairs and i dont recomend you to take every signal. Instead you should look for bigger timeframes channels and always trade with the trend. But yes, smaller timeframes are useful for timming the entry and MM.
  • #28
  • May 17, 2010 8:31am May 17, 2010 8:31am
Quoting LaTeCoMeR
Yeah! nice channel illustration , but .....

how to make trade decision is another story

anyone can draw superior trendline or blablabla ,,,, but missing the main point
" where to enter or exit """

just like the weatherman said , if tomorrow is not rain then we will have a sunshine day




anyway nice pix
You enter at the arrow since price bounced off the base and showed signs of possible reversal stop would be at the base of the candle
Attached Image (click to enlarge)
Click to Enlarge Name: ss.png Size: 47 KB
  • #29
  • May 17, 2010 12:11pm May 17, 2010 12:11pm
multi-time frame channels ftw!
Attached Image (click to enlarge)
Click to Enlarge Name: tp_04 May. 17.gif Size: 55 KB
  • #30
  • Last Post: May 19, 2010 12:00pm May 19, 2010 12:00pm
Quoting kodflakes
You enter at the arrow since price bounced off the base and showed signs of possible reversal stop would be at the base of the candle
Kodflakes, the indicator in the upper right corner of your posted screenshot looks useful. Can you direct me where to find it? Thanks.

Juancho, can you tell a bit more about how you trade? Particularly with regards to time frames (ie, start with weekly, then check 4H, finally time entry with 15M). Also, your preferred currencies, pip targets, etc.? Just curious - no big deal. Interesting approach and appreciate your posting!

(Also, how do you get the multi-TF channels on one chart - I'm guessing you draw your channels using the tool in MT4 for the longer timeframe, then going to smaller TF's, continue putting the corresponding channels on? - Sorry if newbie Q).

Thanks both.
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