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Extreme TMA System

  • #7,401
  • Mar 27, 2012 8:16am Mar 27, 2012 8:16am
in short GU.
Follow me to the Promised Land
  • #7,402
  • Mar 27, 2012 8:20am Mar 27, 2012 8:20am
Quoting By_Tor2114
Another question for Al (Many thanks for taking the time to do all this. You truly deserve a medal).

I just closed my trade on the USD/CAD for about 10 pips, as I noticed the price struggling to get through the Coral line. Is it intended to be partly used in this fashion, or did I just jump the gun?

Incidentally, the current M15 bar has re-traced almost all of the last M15 bar.
If it is true that USIndex is bottoming as I expect it is, there will be a lot of back and forth action around here.

I was just looking at the chart and I have noticed a nice Cup with Handle formation that it is painting at this time. It price breaks the top at 82, the minimum move expected from there would be to 91.

Of course, a break of the trendline would make this obsolete.
Attached Image (click to enlarge)
Click to Enlarge Name: USIndex.jpg Size: 189 KB
Observation is the path to discovery.
  • #7,403
  • Mar 27, 2012 8:21am Mar 27, 2012 8:21am
Quoting josef
Build 418 has a lot of "bugs". Most indicators and experts what using dll's won't work with it. If you have already updated to the 418 build, I would highly recommend to switch to an older build version. (Replace terminal.exe file)

More detailed description can be viewed here:

http://pipburner.com/metatrader-buil...vious-version/

http://www.donnaforex.com/forum/index.php?topic=5545.15

Regards,...
Thank You very much, it helps.
Best Regards
  • #7,404
  • Mar 27, 2012 8:24am Mar 27, 2012 8:24am
Quoting Alorente
If it is true that USIndex is bottoming as I expect it is, there will be a lot of back and forth action around here.

I was just looking at the chart and I have noticed a nice Cup with Handle formation that it is painting at this time. It price breaks the top at 82, the minimum move expected from there would be to 91.

Of course, a break of the trendline would make this obsolete.
Hi Al,

Many thanks for the input. As always, it's greatly appreciated. However, I'm still not really understanding the relevance of the Coral line. I've waded through pages of this thread, but I've not really found it's meaning. Sorry if I am being dense!
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #7,405
  • Mar 27, 2012 8:31am Mar 27, 2012 8:31am
Quoting By_Tor2114
Just taken this short on the USD/CAD. Lines up with usual M15 rules, plus the added bonus of the H slope showing a sell only signal. Looking to get out before the news release on CB Consumer Confidence in an hour and a half.
may you remeber us M15 rules?
thanks
  • #7,406
  • Mar 27, 2012 8:34am Mar 27, 2012 8:34am
Quoting mauroby
may you remeber us M15 rules?
thanks
Hi Mauroby,

Rather than have me write a secondhand version of the rules, it's probably best to read Al's rules on the first page of this thread, otherwise there is every chance I could go and get something wrong!
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #7,407
  • Mar 27, 2012 8:40am Mar 27, 2012 8:40am
Quoting By_Tor2114
Hi Mauroby,

Rather than have me write a secondhand version of the rules, it's probably best to read Al's rules on the first page of this thread, otherwise there is every chance I could go and get something wrong!
my question is because i don't understand.....
we have a chart with H1 timeframe or M15 time frame?
TMA slope have to be H1 or M15?

thanks
  • #7,408
  • Mar 27, 2012 8:43am Mar 27, 2012 8:43am
Quoting mauroby
my question is because i don't understand.....
we have a chart with H1 timeframe or M15 time frame?
TMA slope have to be H1 or M15?

thanks
Hi Maruoby,

My thinking on this trade was that there was the "normal" M15 signal, but when I looked at the H1 slope, it was at a value of -.50, meaning that it was a strong sell signal. As it turned out, the trade was only good for about 10 pips, but that's why I monitor this stuff. As a scalper, I prefer to be on top of it at all times.
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #7,409
  • Mar 27, 2012 9:42am Mar 27, 2012 9:42am
Quoting By_Tor2114
A quick question for the more experienced in this method:

If the H1 slope is over 50, but the M15 slope is showing potential for either direction, have people had any positive results in trading against the H1 slope for a quick scalp of 20 pips (Just a random number that would be satisfactory)?
Yes, of course. You should babysit the trade, though, and maybe even target the midline to be more comfortable. Just remember that H1 will make a retracement sometime in its move. That retracement is going to be evident on the M15. If it is any kind of worthwhile retracement the slope on M15 MUST change at least to neutral. If a very strong retracment, it might even change to opposite color.

If you're willing to make the counter trend retracement trade, you should be extremely willing to then jump on the following continuation leg in the H1 trend direction!

After you finish the trade and you decide to go back and analyze the chart, be prepared for the midline colors to be repainted from the time you saw things in real time. (One of these days I must find the time to dig out Camtasia and make scren recordings for later review. )
To free Gazans of Hamas, use whatever it takes.
  • #7,410
  • Mar 27, 2012 9:56am Mar 27, 2012 9:56am
Quoting xlitang
in short GU.
30 pips banked.
Follow me to the Promised Land
  • #7,411
  • Mar 27, 2012 9:57am Mar 27, 2012 9:57am
Quoting DrDave
Yes, of course. You should babysit the trade, though, and maybe even target the midline to be more comfortable. Just remember that H1 will make a retracement sometime in its move. That retracement is going to be evident on the M15. If it is any kind of worthwhile retracement the slope on M15 MUST change at least to neutral. If a very strong retracment, it might even change to opposite color.

If you're willing to make the counter trend retracement trade, you should be extremely willing to then jump on the following continuation leg in the H1 trend...
Hi Dave,

Thanks for your input. This is fast becoming a very enjoyable way of trading for me. Right now, I'm tending to just follow the M15 rules, but I can already see other ways in which you could benefit from this system. I'm just a scalper, but it might be the approach that finally convinces me to go longer term.
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #7,412
  • Mar 27, 2012 10:00am Mar 27, 2012 10:00am
Quoting 2face
Remember not to fight the trend. When the market is on up trend, it is not advisable to enter from upper band. It is better to enter from lower band of H1
You are certainly correct that it is ill advised to buy at an upper band. However, if you are looking at M15 adn H1 together, compare where the bands are. The M15 bands do not just hover around the top or bottom band of the H1, they are cyling around inside of it. (If you don't see this clearly, create a chart, display the M15, H1, and H4 bands, turn off your price bars, and zoom out a bit.)

Unfortunately, due to the repainting issues, you can't simply scroll back and study how the band movements progressed.

So, if you are doing technical analysis, make an analysis of the band positions in real time. When the M15 band is headed down to a bottom part of its cycle, isn't that doing the retracement to the H1 that is in an uptrend? If the M15 band is straddling the top H1 band, wouldn't that tell you that M15 setups to go short have way greater potential to start bringing the H1 down with it than if the M15 bands are in the middle of the H1 bands?
To free Gazans of Hamas, use whatever it takes.
  • #7,413
  • Mar 27, 2012 10:16am Mar 27, 2012 10:16am
Quoting rivtrader
Have a sell order for AudUsd at 1.0526.
Out of this trade placed yesterday for 45 pips.
  • #7,414
  • Mar 27, 2012 10:22am Mar 27, 2012 10:22am
Quoting rivtrader
Placed a sell order on EurUsd at 1.3314.
I kept trailing my order entry higher yesterday, but I never got filled so I passed.
  • #7,415
  • Mar 27, 2012 10:41am Mar 27, 2012 10:41am
Quoting Alorente
By the way, regarding these two trades, I have to tell you that I was very tempted yesterday to exit at the bottom band of H1, but from the beginning of the trade I committed to make it an H4 trade. I wanted to try the system on H4 which is the time frame that nanningbob and sabry trade. I am convinced it works in H4 also. WeŽll soon see.
Bottom band of H1 was only ending a pullback on H4 in the up leg on D1. H4 is now on the continuation leg3 up to finish out D1 up leg. (Ya gotta check ALL the charts and look at who is in control, and then which smaller chart should have your focus.)

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #7,416
  • Mar 27, 2012 10:58am Mar 27, 2012 10:58am
Wow the EU sure looks like its coiling up like a spring getting ready to break out one way or another. I think we will find out here shortly
  • #7,417
  • Mar 27, 2012 11:14am Mar 27, 2012 11:14am
Quoting Surfnomad
Wow the EU sure looks like its coiling up like a spring getting ready to break out one way or another. I think we will find out here shortly
It is highly likely that the H1 has finished going up, which also stops H4. If it turns out to be the stopping point on D1 as well, that is a very much lower top, so is more likely to be a rally to the prior down move. We need to see how M15 plays out now to see if we're at a top here.

Of course we can't predict, only observe and then look for the high probablility trades.
To free Gazans of Hamas, use whatever it takes.
  • #7,418
  • Mar 27, 2012 11:21am Mar 27, 2012 11:21am
Quoting DrDave
It is highly likely that the H1 has finished going up, which also stops H4. If it turns out to be the stopping point on D1 as well, that is a very much lower top, so is more likely to be a rally to the prior down move. We need to see how M15 plays out now to see if we're at a top here.

Of course we can't predict, only observe and then look for the high probablility trades.
Price has largely been contained between the M15 middle & lower band this morning, it can not stay there for ever so I am on the sidelines until a high probability trade develops.

Thank you for your insight Dr Dave

Robert
  • #7,419
  • Mar 27, 2012 11:45am Mar 27, 2012 11:45am
Quoting DrDave
You are certainly correct that it is ill advised to buy at an upper band. However, if you are looking at M15 adn H1 together, compare where the bands are. The M15 bands do not just hover around the top or bottom band of the H1, they are cyling around inside of it. (If you don't see this clearly, create a chart, display the M15, H1, and H4 bands, turn off your price bars, and zoom out a bit.)

Unfortunately, due to the repainting issues, you can't simply scroll back and study how the band movements progressed.

So, if you are doing technical analysis,...
If the M15 band is straddling the top H1 band, wouldn't that tell you that M15 setups to go short have way greater potential to start bringing the H1 down with it than if the M15 bands are in the middle of the H1 bands?

This is exactly the approach to follow with MTF TMA. It takes a little practice to get it right, but when you become proficient with it, it is almost a way to predict the future. I enjoy this approach more every day.
Observation is the path to discovery.
  • #7,420
  • Mar 27, 2012 11:49am Mar 27, 2012 11:49am
Quoting DrDave
It is highly likely that the H1 has finished going up, which also stops H4. If it turns out to be the stopping point on D1 as well, that is a very much lower top, so is more likely to be a rally to the prior down move. We need to see how M15 plays out now to see if we're at a top here.

Of course we can't predict, only observe and then look for the high probability trades.
This is exactly how I see it. Let me ask you Dave, have you just started with MTF TMA or have you been doing this analysis for a while now? You seem to be really good at reading how the channels affect each other.
Observation is the path to discovery.
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