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Simple Forex CobraSystem Thoughts Please?

  • #61
  • Mar 15, 2012 8:23pm Mar 15, 2012 8:23pm
yongezy, it would do you good to read the rules of this system. No candles in the box are good to trade. If you glance through the rules you'll see why.

Quoting yongezy
Is the candlestick in the box good to trade?
  • #62
  • Mar 16, 2012 12:43am Mar 16, 2012 12:43am
Quoting dreamliner
yongezy, it would do you good to read the rules of this system. No candles in the box are good to trade. If you glance through the rules you'll see why.
dreamliner

english is not my main speaking. My charts showed boxes that i have doubts to trade. That's why i posted for help.

You are an experience trader, hope you can help.

Both charts have 2nd candlesticks showed outside the 12ma but their bodies are not "big" or "full." in these cases, how?

Thank you.
  • #63
  • Mar 16, 2012 12:47am Mar 16, 2012 12:47am
Dreamliner

here is another real chart showing all rules are met, but i think now when the body is small, it is best not to trade. What do you think?
Attached Image
  • #64
  • Mar 16, 2012 1:52am Mar 16, 2012 1:52am
Quoting yongezy
Dreamliner

here is another real chart showing all rules are met, but i think now when the body is small, it is best not to trade. What do you think?
According to the rules this is a no trade becouse the first candle that have the open and close aboue the 12 ma "zones" didnt make a new high, the next candle looks like a possible reversal candle, adx is below 22 and its friday a no-trade day. You should re-read this manual becouse clearly your not making it by the rules
  • #65
  • Mar 16, 2012 3:21am Mar 16, 2012 3:21am
Quoting yongezy
Dreamliner

here is another real chart showing all rules are met, but i think now when the body is small, it is best not to trade. What do you think?
I would say that your box is in wrong place. the candle on the very left edge of your box would qualify for entry. there is a close above emas just before this candle. Then the next candle opens and closes above the emas and makes a new high. the adx changes from a down slope to a upslope. I would have entered on this provided it wasnt on a friday. I think people are thinking that you mean the last candles shown on your chart. Go back a few candles to where the orange box is drawn.
  • #66
  • Mar 16, 2012 3:27am Mar 16, 2012 3:27am
Just to help my last post be a little clearer

Attached Image (click to enlarge)
Click to Enlarge Name: cobrareply.png Size: 42 KB
  • #67
  • Edited 4:56am Mar 16, 2012 4:11am | Edited 4:56am
Quoting yongezy
Is the candlestick in the box good to trade?
No, it isnīt a valid Candle-2 because it does not make a lower Low from Candle 1.

Here is a valid candle 2 ( I donīt check Friday = no trade because I will trade
on Fridays if I see a good setup) :
http://i.imgur.com/oinyK.jpg

The second red arrow just means that candle 3 fulfilled condition 2,
but the entry would have been at the close of the signal candle (first red arrow)

The latest version of the dashboard and indicator have been uploaded.
Please only use these.
http://www.forexfactory.com/showthre...00#post5482500
  • #68
  • Mar 16, 2012 6:34am Mar 16, 2012 6:34am
Apart from the fact that there's no trading on Fridays, i think i found a nice setup this morning. What do you think?
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp_160312_h1_1425.gif Size: 37 KB
  • #69
  • Mar 16, 2012 6:40am Mar 16, 2012 6:40am
Quoting Rob_Trader
Apart from the fact that there's no trading on Fridays, i think i found a nice setup this morning. What do you think?
Very nice setup.

And the Dashboard or Cobra-indicator would have found it for you and alerted you.
There were 3 candles which met the conditions for Candle 2 ( a red arrow is drawn when a valid Candle 2 is there ).

http://i.imgur.com/trZLF.jpg
  • #70
  • Mar 16, 2012 6:43am Mar 16, 2012 6:43am
Quoting slowlyslowly
Yes I saw the resistance, and this is my interpretation of the chart. Like you said, who knows?
Exactly.
Nobody knows. Maybe a fortune teller ? I doubt it.

But you entered on a valid Candle 2 and if you set the SL at the bottom blue band, your SL did not trigger, but look now ...... green pips

http://i.imgur.com/uU0tx.jpg
  • #71
  • Mar 16, 2012 6:50am Mar 16, 2012 6:50am
Quoting iak
I would say that your box is in wrong place. the candle on the very left edge of your box would qualify for entry. there is a close above emas just before this candle. Then the next candle opens and closes above the emas and makes a new high. the adx changes from a down slope to a upslope. I would have entered on this provided it wasnt on a friday. I think people are thinking that you mean the last candles shown on your chart. Go back a few candles to where the orange box is drawn.
iah,

My thought was that the candle to the left of the box did not close out of the 12MA. Now i know what you meant.

Thanks for pointing.
  • #72
  • Mar 16, 2012 6:52am Mar 16, 2012 6:52am
Quoting fxtr51
No, it isnīt a valid Candle-2 because it does not make a lower Low from Candle 1.

Here is a valid candle 2 ( I donīt check Friday = no trade because I will trade
on Fridays if I see a good setup) :
http://i.imgur.com/oinyK.jpg

The second red arrow just means that candle 3 fulfilled condition 2,
but the entry would have been at the close of the signal candle (first red arrow)

The latest version of the dashboard and indicator have been uploaded.
Please only use these.
http://www.forexfactory.com/showthre...00#post5482500...
fxstr51

I got it now due to my mistake. Will watch out for "lower low" condition.

I agreed with you on taking a good set up regardless Friday or not. One can just close or move SL to BE when approaching closing of the week.
  • #73
  • Mar 16, 2012 6:56am Mar 16, 2012 6:56am
Quoting Rob_Trader
Apart from the fact that there's no trading on Fridays, i think i found a nice setup this morning. What do you think?
Rob_Trader

Like fxtr51 opinion, you could take the good set up trade and make some $ or the worst BE at the end of the closing week.
  • #74
  • Mar 16, 2012 7:03am Mar 16, 2012 7:03am
Quoting fxtr51
Very nice setup.

And the Dashboard or Cobra-indicator would have found it for you and alerted you.
There were 3 candles which met the conditions for Candle 2 ( a red arrow is drawn when a valid Candle 2 is there ).
Quoting fxtr51
Exactly.
Nobody knows. Maybe a fortune teller ? I doubt it.

But you entered on a valid Candle 2 and if you set the SL at the bottom blue band, your SL did not trigger, but look now ...... green pips
fxtr51

You proved we can trade on Friday! It is your pipping day!

Keep posting man.
  • #75
  • Mar 16, 2012 8:17am Mar 16, 2012 8:17am
fxtr51

Can you share the spread and price indicators?
Do you have time indicator?
Thank you.
  • #76
  • Mar 16, 2012 9:00am Mar 16, 2012 9:00am
I attached a candle time indicator.

The support-resistance-H4 indicator is very good. I have it on all charts
and price does respect it almost always.
Attached File(s)
File Type: ex4 ! Bid_Ask_BDv8_12_31.ex4   5 KB | 414 downloads
File Type: ex4 ! support-resistance-4-hour.ex4   19 KB | 504 downloads
File Type: mq4 CandleCountdown.mq4   4 KB | 411 downloads
File Type: mq4 ! Spread.mq4   3 KB | 392 downloads
  • #77
  • Mar 16, 2012 9:13am Mar 16, 2012 9:13am
Quoting fxtr51
I attached a candle time indicator.

The support-resistance-H4 indicator is very good. I have it on all charts
and price does respect it almost always.
Thanks, pal.
Gr8 weekend to you.
  • #78
  • Mar 16, 2012 10:17am Mar 16, 2012 10:17am
Quoting fxtr51
Exactly.
Nobody knows. Maybe a fortune teller ? I doubt it.

But you entered on a valid Candle 2 and if you set the SL at the bottom blue band, your SL did not trigger, but look now ...... green pips
Yep.. price went nowhere all day but now stop at BE and away we go. Just have to trust there won't be a big gap down over the weekend but I think breaking that resistance means there is a bullish bias now.
All opinions stated are purely opinions.. I may be wrong!
  • #79
  • Mar 17, 2012 3:51am Mar 17, 2012 3:51am
When do we move SL to BE?
Can someone point to me in the manual?
Of course I will read again to see if I can locate it.

Reason ask is to prevent from losing a trade like the image.
Any idea?
Attached Image (click to enlarge)
Click to Enlarge Name: sl be.gif Size: 22 KB
  • #80
  • Mar 17, 2012 4:36am Mar 17, 2012 4:36am
the huge spike one the left is a warning sign that price might enter a resistance area....buying into resistance is never a good idea even a system gives a signal... for eurusd 1h timeframe a conservative strategy is to move to be after 30 pips but it's not the same for every pair and timeframe ..just my 2 cents
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