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Extreme TMA System

  • #6,701
  • Mar 22, 2012 10:34am Mar 22, 2012 10:34am
FxTimes mentions today the same Head & Shoulders patterns that I have been talking about on the thread.

http://www.fxtimes.com/technical-upd...lders-pattern/
Observation is the path to discovery.
  • #6,702
  • Mar 22, 2012 10:34am Mar 22, 2012 10:34am
Quoting fxtrader2k7
Hi Al,

Thank you for all your teachings and sharing. This small contribution doesn't even register on the scale compare to what your have given. The sheet is protected to prevent accidental over-writing of the formulas. Enter the required information, print it out and having it beside you as you trade. Shout out if there any errors or bugs.

Cheers
Hi fx,

Thanks for the great spreadsheet.

Question; There is a line at the top that reads "Direction of Trade" and is asking for number in yellow for input. Would you please explain how this works? Thanks.
  • #6,703
  • Mar 22, 2012 10:35am Mar 22, 2012 10:35am
There is no volume!

Everybody is waiting for the ECB speaks...

L.
  • #6,704
  • Mar 22, 2012 10:36am Mar 22, 2012 10:36am
Dear Al, and Dear all :

Since I download latest new packet from p.1, I use the new Dashboard V.24,

this Dashboard V.24 still use lots of CPU resource, slow down the MT4 performance, when I switch from chart to chart, it will take me more than 1 ~ 3 seconds, I remove the Dashboard V.24, MT4 because fast response again.

It look like Dashboard V.24 issue ??

my MT4 is download from alpari UK, Build 409, ~

my NB ( IBM T60 ), is dual core, CPU, INTEL T2400, RAM, 2.5G,

if I use oldest packet file version, download from p.1 two weeks ago old version, it function OK, Response fast, something wrong at somewhere ??

Someone can advise me , thank you very much !!

cheers,

SCOTT-ibm
~~~~~~~~~~~~
  • #6,705
  • Mar 22, 2012 10:37am Mar 22, 2012 10:37am
Well, what do you know...? EurUsd finally did make it to S1. It is amazing to me how consistent Fibonacci retracements are. I was thinking that maybe this time it wouldnīt make it, but Fibonacci lives...
Observation is the path to discovery.
  • #6,706
  • Mar 22, 2012 10:40am Mar 22, 2012 10:40am
Quoting Alorente
Well, what do you know...? EurUsd finally did make it to S1. It is amazing to me how consistent Fibonacci retracements are. I was thinking that maybe this time it wouldnīt make it, but Fibonacci lives...
In this case, S1 coincides with the Coral and the neckline of the Head & Shoulders. What a wonderful place to short. That should attract plenty of sellers.
Observation is the path to discovery.
  • #6,707
  • Mar 22, 2012 10:52am Mar 22, 2012 10:52am
Quoting Alorente
In this case, S1 coincides with the Coral and the neckline of the Head & Shoulders. What a wonderful place to short. That should attract plenty of sellers.
I'm in short EURUSD @ 1.3195. Thinking about S3 as a first target around 1.3130.

PB
  • #6,708
  • Mar 22, 2012 10:52am Mar 22, 2012 10:52am
Here is the test of the underside of the Head & Shoulders neckline. Price should be rejected here and should proceed with the fall soon.

Notice also the divergences on RSI and the down trendline formed by the descending peaks. This trendline must remain intact for EurUsd to continue its drop.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 117 KB
Observation is the path to discovery.
  • #6,709
  • Mar 22, 2012 10:54am Mar 22, 2012 10:54am
Quoting pixelboy
I'm in short EURUSD @ 1.3195. Thinking about S3 as a first target around 1.3130.

PB
Two.

L.
  • #6,710
  • Mar 22, 2012 10:54am Mar 22, 2012 10:54am
Quoting pixelboy
I'm in short EURUSD @ 1.3195. Thinking about S3 as a first target around 1.3130.

PB
I just added to my short also.
Observation is the path to discovery.
  • #6,711
  • Mar 22, 2012 11:00am Mar 22, 2012 11:00am
Quoting Alorente
Here is the test of the underside of the Head & Shoulders neckline. Price should be rejected here and should proceed with the fall soon.

Notice also the divergences on RSI and the down trendline formed by the descending peaks. This trendline must remain intact for EurUsd to continue its drop.
Also, notice on this chart how the Slope indi is NOT indicating a divergence, since the latest Red mound is larger than the previous one. When you see a reversal it is usually preceded by a divergence in the Slope.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 33 KB
Observation is the path to discovery.
  • #6,712
  • Mar 22, 2012 11:01am Mar 22, 2012 11:01am
Just noticed USDJPY is touching it's daily trend-line. Could bounce up nicely.

PB
Attached Image
  • #6,713
  • Mar 22, 2012 11:02am Mar 22, 2012 11:02am
Quoting pixelboy
I'm in short EURUSD @ 1.3195. Thinking about S3 as a first target around 1.3130.

PB
S4 or H4 lower TMA line is a better target.
Observation is the path to discovery.
  • #6,714
  • Mar 22, 2012 11:04am Mar 22, 2012 11:04am
Generally speaking, when price spends as much time along the lower TMA bands like it has (had) on EUR 15m, is it more likely to retrace before beginning a move? In other words, a big move down would be unlikely to originate from the lower band especially given the time price had spent there already?
  • #6,715
  • Mar 22, 2012 11:04am Mar 22, 2012 11:04am
Quoting pixelboy
Just noticed USDJPY is touching it's daily trend-line. Could bounce up nicely.

PB
Donīt forget that it is still trading above its Daily TMA channel upper band. I feel it must reenter this channel before it becomes a compelling Buy.
Observation is the path to discovery.
  • #6,716
  • Mar 22, 2012 11:11am Mar 22, 2012 11:11am
Quoting Alorente
Paradox, buddy. If what Luther is saying is correct, please remove the copyright info and repost it. I will exchange the indicator in the packet files once you do that. I donīt know anything about MT4 code and I am too old to learn, or I would do it myself.

Thanks friend.
I will not change it and I responded to the original post here.

http://www.forexfactory.com/showthre...74#post5503174


PS: Thank you Lucky Lurker. I really needed that today.
  • #6,717
  • Mar 22, 2012 11:15am Mar 22, 2012 11:15am
Hi guys,

I'm continuing to learn this system, but if someone could answer a couple of questions, it would be greatly appreciated. I've read the initial info and read through the documents that are in the zip file at the beginning of the thread, so, forgive me if I have missed the obvious.

In the attached image, can someone tell me a) what the relevance of the coral line is (Couldn't find this mentioned) and b) in the trix indicator, I have highlighted two downward markings, which I assume are signalling a short entry. Being that the price was within the bands, rather than above them, is this just something that has not been perfected and should be treated with discretion?

Many thanks in advance. It's always refreshing to see so many traders trying to help each other out.
Attached Image (click to enlarge)
Click to Enlarge Name: trix.gif Size: 19 KB
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #6,718
  • Mar 22, 2012 11:18am Mar 22, 2012 11:18am
Quoting RandyG67
Generally speaking, when price spends as much time along the lower TMA bands like it has (had) on EUR 15m, is it more likely to retrace before beginning a move? In other words, a big move down would be unlikely to originate from the lower band especially given the time price had spent there already?
Yes. Price will be repelled inside the Daily channel again. Donīt forget that in the end the Daily channel will repaint a somewhat higher and the H1 and H4 channels will repaint lower, so after all is said and done, the overlap will not look anywhere as bad as it does now.
Sorry, I thought you were referring to UsdJpy which is what I answered about.
Observation is the path to discovery.
  • #6,719
  • Mar 22, 2012 11:21am Mar 22, 2012 11:21am
Looking at GbpUsd 15M price has hit 38.2 Fib retracement 4 times which coincides with Year Low line, Coral red pointing down and TMA slope indicating sell only. Trix gone red but not crossed the slow line yet.
  • #6,720
  • Mar 22, 2012 11:24am Mar 22, 2012 11:24am
We have an almost exact copy e/u head and shoulders on the one hr time frame with usd/chf but inverce and also a test of the neck line
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