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Trendlines with Heiken Ashi and Stochs System

  • #201
  • Jan 23, 2012 6:58am Jan 23, 2012 6:58am
Gbpcad floating between 50 and 60 pips up at the moment and at break even so going to leave it running. Nothing else appeals at the close of my brokers 4h candle so going to sit and watch.
  • #202
  • Jan 23, 2012 7:54am Jan 23, 2012 7:54am
Looking good Hugh
Feel the Fear and do it anyway!!!
  • #203
  • Jan 23, 2012 8:15am Jan 23, 2012 8:15am
Quoting clivepackham
Looking good Hugh
Thanks mate, piece of piss when you know how
  • #204
  • Jan 23, 2012 1:21pm Jan 23, 2012 1:21pm
A little bit of sideways movement going on with the gbpcad trade but 38 or so pips up tonight. I'll leave it overnight and see how it looks in the morning. It's at break even so no big worries. Nothing else appeals tonight.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad 23rd jan 2012 21.20.gif Size: 17 KB
  • #205
  • Jan 23, 2012 10:27pm Jan 23, 2012 10:27pm
Gone a bit sideways overnight but no good reason to close it. I've attached a pic of gbpusd as well. On the face of it with the HA change and the stoch cross it might look like a good trade and it may well work out but I wouldn't want to sell it so close to the large 1.55 round number. These levels break as often as they hold but it's better probability not to trade directly into support or resistance. Also I'm already short a gbp pair, albeit at break even so I'm not desperate to be short gbp.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpcad 24th jan 2012 06.20.gif Size: 19 KB
Click to Enlarge Name: gbpusd 24th jan 2012 06.20.gif Size: 18 KB
  • #206
  • Jan 23, 2012 10:33pm Jan 23, 2012 10:33pm
Another good example of that is audusd and audjpy. xxxusd do seem to be about to turn down and aud has had a good run up so for that reason I'm not interested in selling this right now. I'd like to see a good move down and then a smooth pullback and turn and then if everything is moving in the right direction and I get a smooth HA change and stoch cross then I'd sell. Both pairs move in a similar fashion so I'd only sell one at a time. I wouldn't be buying this anytime soon due to the possible turn in xxxusd, I want to be trading these when everything is going in the same direction.

Last chart is audchf. I really like the look of the 0.97 level. The price seems to be moving really smoothly on this pair and although I think aud may start to fall a little against usd if chf starts to weaken this generally pushes xxxchf higher faster. I'm looking for a HA change and a smooth stoch cross to the upside and I'd be happy to be long with a stop just below the 0.97 level. That should be a relatively tight stop loss for a trade with such good upside potential.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd 24th jan 2012 06.20.gif Size: 17 KB
Click to Enlarge Name: audjpy 24th jan 2012 06.20.gif Size: 17 KB
Click to Enlarge Name: audchf 24th jan 2012 06.20.gif Size: 17 KB
  • #207
  • Jan 23, 2012 10:38pm Jan 23, 2012 10:38pm
I've got my eye on euraud again. Although it seems to be ranging for a little while it is trading very smoothly. I think eurusd and audusd may fall over the next few weeks but overall I am more bearish eur so I wouldn't be surprised to see another big drop in this pair and a HA change with a smooth stoch cross will see another short here.
Attached Image (click to enlarge)
Click to Enlarge Name: euraud 24th jan 2012 06.30.gif Size: 16 KB
  • #208
  • Jan 23, 2012 10:41pm Jan 23, 2012 10:41pm
Nothing appeals to trade this morning but there's a little watchlist building. I'll check in at 11am gmt. Hopefully SR is back today for another perspective?
  • #209
  • Jan 23, 2012 11:29pm Jan 23, 2012 11:29pm
Hey Hugh...

Back from Travels...will look over charts and make comments in what I see...

Hope all is well on your end

Cheers

SR
  • #210
  • Jan 23, 2012 11:34pm Jan 23, 2012 11:34pm
Quoting Hugh Briss
Gone a bit sideways overnight but no good reason to close it. I've attached a pic of gbpusd as well. On the face of it with the HA change and the stoch cross it might look like a good trade and it may well work out but I wouldn't want to sell it so close to the large 1.55 round number. These levels break as often as they hold but it's better probability not to trade directly into support or resistance. Also I'm already short a gbp pair, albeit at break even so I'm not desperate to be short gbp.
Hi Hugh,

THe GDP/USD chart mentioned is where I struggle. Maybe you an help.
The way i see it is both the CCI 6 and Stoch have crossed, no question. However the uptrend TL isn't being tested ...yet.
So the question is do we play a trade to the downside now or wait for the trend line to break.

Any thoughts there ?
Attached Image (click to enlarge)
Click to Enlarge Name: GBP%2FUSD--240 Minute.jpg Size: 144 KB
  • #211
  • Jan 23, 2012 11:40pm Jan 23, 2012 11:40pm
Quoting Sjr
Hi Hugh,

THe GDP/USD chart mentioned is where I struggle. Maybe you an help.
The way i see it is both the CCI 6 and Stoch have crossed, no question. However the uptrend TL isn't being tested ...yet.
So the question is do we play a trade to the downside now or wait for the trend line to break.

Any thoughts there ?
Yes, gbpusd doesn't look good probability at the moment. The indicators say one thing and I do think it will go down but I just couldn't be selling it. It just doesn't look right. That 1.55 is a good enough reason to stay out anyway.
  • #212
  • Jan 23, 2012 11:45pm Jan 23, 2012 11:45pm
Another way to explain it is to look at the integrity of the trend. It's pulled back a fair way so the downtrend doesn't look so strong now. The best way we can trade this information is just to think "gbp short" and then look for possible trades in gbpxxx.
  • #213
  • Jan 23, 2012 11:55pm Jan 23, 2012 11:55pm
Heres another thing i noticed while I was traveling....ie missed opportunities !!
When the CCI / Stoch crosses it usually runs for a good couple of candles.
How many ??? there's no guarantee but as Eelfranz and his TDI indicator suggests at least 3-8 candles. I don't have TDI so I use cci 6 which was suggested by Eelfranz instead.
Even if you got in on every signal, (which I don't think you should..more on that later ), and got out with half your position after 2-3 candles, then bought your SL to BE and trailed the stop, or what ever method you chose to exit, would it make pips >?? that's what im gonna look into...
Also, just to be clear, Hugh's method of incorporating TL with Stochs and HA candles blends perfectly into this type of analysis......

Credit to Hugh and Eelfranz..

Heres a chart showing what I mean, its just the first example I picked , I think Hugh might be looking at it currently......
Just to be fair, im going to try and find a real narly one just to make it obvious that this isnt perfect, or anything not real world trading....

Cheers

SR
Attached Image (click to enlarge)
Click to Enlarge Name: EUR%2FAUD--240 Minute.jpg Size: 155 KB
  • #214
  • Jan 24, 2012 12:01am Jan 24, 2012 12:01am
Quoting Sjr
Heres another thing i noticed while I was traveling....ie missed opportunities !!
When the CCI / Stoch crosses it usually runs for a good couple of candles.
How many ??? there's no guarantee but as Eelfranz and his TDI indicator suggests at least 3-8 candles. I don't have TDI so I use cci 6 which was suggested by Eelfranz instead.
Even if you got in on every signal, (which I don't think you should..more on that later ), and got out with half your position after 2-3 candles, then bought your SL to BE and trailed the stop, or what ever method you...
Have you tried it out on the trading simulator? Try it there first, use control points and the f12 button to go through candle by candle and take every trade that your indicators and the trend give you.

You should make a profit.

Then consider that we are using the direction of other pairs (sort of relative strength analysis) to pick the best trades and you'll see it's more profitable again.
  • #215
  • Jan 24, 2012 12:05am Jan 24, 2012 12:05am
Heres the crappy example I was talking about...

Looking at it thou, its the sort of market that just doesn't look right...I know that sounds wishy washy, but look at the example above..see the difference...this is wheres Hugh's experience with TA , Big Numbers etc comes in to play ,something I need to pay more attention to....

Also, Im just looking at this/experimenting with this from a novices point of view...

Any one who wants to add, please feel free...

Cheers

SR
Attached Image (click to enlarge)
Click to Enlarge Name: EUR%2FCHF--240 Minute.jpg Size: 131 KB
  • #216
  • Jan 24, 2012 12:12am Jan 24, 2012 12:12am
I need to look into using MT4 platform more....I guess in time
Unfortunately Im using this platform which in my opinion is average, But Ive gotten use to it now.

Hugh If you could run the simulator thingy ? on MT 4 ??? let us know what your thoughts are on this ?? That might be cool to explore the results.

Dam, this is a tough game man....But I think were on to something here.

Next Id like to talk/discuss how I draw Trend lines i.e TL1 and TL 2 for profit taking targets etc, something...which Im still learning, BUT have real significance to where to think about exiting a trade....
  • #217
  • Jan 24, 2012 12:59am Jan 24, 2012 12:59am
Quoting Sjr
I need to look into using MT4 platform more....I guess in time
Unfortunately Im using this platform which in my opinion is average, But Ive gotten use to it now.

Hugh If you could run the simulator thingy ? on MT 4 ??? let us know what your thoughts are on this ?? That might be cool to explore the results.

Dam, this is a tough game man....But I think were on to something here.

Next Id like to talk/discuss how I draw Trend lines i.e TL1 and TL 2 for profit taking targets etc, something...which Im still learning, BUT have real significance...
I don't need to run it... I've done it already. Why trade a system if you don't know it works?

There is information about drawing trendlines at the start of this thread.
  • #218
  • Jan 24, 2012 1:02am Jan 24, 2012 1:02am
Well...whats the verdict...?
  • #219
  • Jan 24, 2012 1:19am Jan 24, 2012 1:19am
Quoting Sjr
Well...whats the verdict...?
Like I said, it turns a profit but traded in real time with information from relative strength etc it's even better.

You should use the simulator yourself anyway to get a feel for what these trades look like as they unfold and then take a decision whether to take the trade or not. It's a fantastic learning tool.
  • #220
  • Jan 24, 2012 1:33am Jan 24, 2012 1:33am
Thanks for the heads up on that Hugh....can you PM me with the details, as we seem to be the only ones here doing the talking here.

Man I have to get better with MT4...but it sucks for ease of use, once your
familiar with another system...im ready to jump away and do my own thing.....and say adios to public forums....Think I have what I need to take next step, but, as no one is stepping in (other than yourself) to add to this forum.....maybe better to do studies alone...Cheers

SR
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