You are definitely right. just changed my position to LONG...
Monitor for 'Trading Made Simple' system 565 replies
Trading Made Simple the right way, and other trading lessons 334 replies
Indicators for the 'Trading Made Simple' system 343 replies
MTF Indicators for the 'Trading Made Simple' system 241 replies
Trading Made Simple system follower - Thanks to eelfranz 9 replies
DislikedJust spotted some more big crossovers that look like they will work out as losers. As I alluded to in a much earlier post, I've been working on a slightly different way of reading the TDI, and I think I might be nearing the conclusion of it, which will result in not taking a lot of the bad crossovers that are happening at the moment.
I would be very interested to know what Big E would say about the current trades that people have been taking, being that he is the originator of this method of reading the TDI. I certainly hope he is in good health...Ignored
DislikedJust a quick note,
I know how this method has been layed out to take trades, but you must watch the bigger picture. Take a look at this Daily USDCAD chart, price has been finding support around the weekly level, and now yesterday price broke through the trend line on the daily chart. For me there is no reason to sell the usdcad right now. I have sold the usdjpy though.
joffieIgnored
DislikedYah well if those big crossovers are on E/J and E/U, your talking to the loser as we speak. I really don't understand it. Every other time I see price do that it continues except for when I'm trading. Should've stayed in bed it would've been much cheaper... So what's this about the TDI? Apparently I need it badly lol..
Also, no, haven't heard anything from Big E. Don't think anyone has in quite some time. I agree though, I wish he was here, maybe he could straighten me out...
8/11 ... Okay I just counted the past 11 Crosses on the E/U. Basically...Ignored
DislikedThrasher,
Be very careful when looking back at the TDI. If you have logged out of MT4 or your connection has been refreshed, it will have re-painted those crosses in a big way. When you initially look at the TDI, it looks like the perfect indicator, but it requires far more discretion than was initially thought. Maybe market movements have changed since Big E first made this thread. Whatever the case, the TDI re-paints in such a way that it can look borderline flawless.
I am continuing to work with the TDI reading, but I don't want to post anything...Ignored
DislikedHey Tor,
I agree with you that it changes to look much smoother than before and I see this all the time. For example it could be like a 90 degree angle when it crosses but it changes over time. However, if you right click on your screen and click refresh it shows you what's really going on. Basically it shows what it will always look like, unless theres more changes during the current bar, at which time you can just click refresh again.
Also, X-man started his own thread:
http://www.forexfactory.com/showthread.php?t=327972
I follow...Ignored
DislikedThe problem with TDI and any other indicator based on Moving averages is they move (hence, the name MOVING average) after all TDI cross is the 3 SMA and 7 SMA of the 14 period RSI. That is the main reason Eelfranz emphasized that trade should be taken at the close of the bar to ensure the cross has actually happened.
Eelfranz was relying on his experience and his chart reading skills to judge if the move was sustainable or not. You may try other indicators to help you judge the sustainability of the move. For this purpose you can use John Bollinger`s...Ignored
DislikedOkay a couple of the really good traders on here are using pivots. I see Only20GP is using Weekly pivots and Joffie I think your using Daily, but not exactly sure. Which would you guys recommend I use? Also, are you guys looking for both breakouts and bounces off pivots or one or the other? Thanks in advance!Ignored
DislikedAnyone else go short on this H4 cross on USD/CAD? There is also a cross in the opposite direction on GBP/USD, but I didn't take it due to recent resistance in that area... Ironically, the trade on G/U looks a little healthier than this one on U/C!
Note: The new H4 candle opened at 9am UK time, despite what the display says in the attached image.Ignored
DislikedThis looks to be going down on the 4& 1hour charts, may be a great trade into next week.Ignored
DislikedI agree with your analysis of the USDCAD. LOTS of resistance...see red line.Ignored
Dislikeddoes anyone know where we can get daily resistance and support data from when trading TMSIgnored
DislikedOkay a couple of the really good traders on here are using pivots. I see Only20GP is using Weekly pivots and Joffie I think your using Daily, but not exactly sure. Which would you guys recommend I use? Also, are you guys looking for both breakouts and bounces off pivots or one or the other? Thanks in advance!Ignored