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5min EUR/USD mini trendline breaks

  • #21
  • Mar 26, 2012 7:42am Mar 26, 2012 7:42am
Quoting capstone
Very well done. So you had 20 pips on 1 lot, then 62 on a second lot?
yep.
  • #22
  • Mar 26, 2012 7:57am Mar 26, 2012 7:57am
Quoting iak
yep.
I have gotten pretty good at recognizing 123 reversals, but these continuations have always escaped me. This method may prove helpful. Thanks.

I am not sure I see the need for the RSI. It showed divergence to head south before the price took off north. This seems to happen a lot. Maybe I am just looking at it wrong. It seems the MA's are a stronger indicator as to which side to take. As far as divergence goes, why not just look for the completed 123 pattern or a break of the 50% fib instead of the RSI?

How are you really using the RSI? Is it just to suggest when to tighten up your stoploss? Curious on your thoughts. Also, how are you filtering out a range period?
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #23
  • Mar 26, 2012 10:32am Mar 26, 2012 10:32am
Hi IAK

This is very much like the Commando Trading System from the late 1990's. I trade this method on the indexes.. SP and NQ.. Your line were called rise and fall lines back then. He used a 10 and 20 EMA for his averages. Still have his manual for futrues and stock trading.. Very Good method !!

Keep it going !!!

TSD
  • #24
  • Mar 27, 2012 12:14am Mar 27, 2012 12:14am
Hi IAK,

Excellent trading .... Simple but very very effective ...

Thanks a lot
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #25
  • Mar 27, 2012 12:15am Mar 27, 2012 12:15am
Hi TraderinSD,

Can you please share the manual of that 10/20 trading method ...

I trade in stocks and futures ...

Thanks

Ganesh
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #26
  • Edited 4:48am Mar 27, 2012 4:33am | Edited 4:48am
Hi, Is This Trade Failed ?!

http://fxup.ir/images/haz9w2l6jdq36dtsx8qx.gif

  • #27
  • Mar 27, 2012 4:39am Mar 27, 2012 4:39am
check the rules, there is no trade there
  • #28
  • Mar 27, 2012 5:20am Mar 27, 2012 5:20am
Quoting Mohsen_msi
Hi, Is This Trade Failed ?!



No trade becoz there is a divergence on the RSI that sticks out like dog's balls.

Harry
  • #29
  • Mar 27, 2012 5:33am Mar 27, 2012 5:33am
Quoting Harry123
No trade becoz there is a divergence on the RSI that sticks out like dog's balls.

Harry
Thanks Harry For Your Answer ... But RSI Is An Optional Parameter ...

Regards
  • #30
  • Mar 27, 2012 5:40am Mar 27, 2012 5:40am
Quoting Mohsen_msi
Hi, Is This Trade Failed ?!


http://fxup.ir/images/haz9w2l6jdq36dtsx8qx.gif

Hi you have drawn the trendline wrong, thats why you missed the breakout there, otherwise it would have been a nice one!
  • #31
  • Mar 27, 2012 5:45am Mar 27, 2012 5:45am
Quoting Mohsen_msi
Hi, Is This Trade Failed ?!


http://fxup.ir/images/haz9w2l6jdq36dtsx8qx.gif

The trade did not meet the drawing of the trendline criteria. Thats why I commented early on, on how simple yet effetive it is.
  • #32
  • Mar 27, 2012 5:47am Mar 27, 2012 5:47am
Quoting Mohsen_msi
Thanks Harry For Your Answer ... But RSI Is An Optional Parameter ...

Regards
Although it was posted as optional, it also said that " RSI 9 is good on the 5min chart for spotting divergence"

When it comes to real money, the more confluence the better IMO.

Regards,
Harry
  • #33
  • Mar 27, 2012 5:56am Mar 27, 2012 5:56am
the pullback has to have at least one candlestick that matches the direction of the larger move, followed by at least one more pull back candlestick. What you marked has no candlesticks that go in the direction of the larger move. That is why it would be invalid.

Although the RSI is optional, it would have shown you that the price was already oversold, alerting you to look for a possible reversal.

If you look into the next up move, you will see another flag had formed. draw the line on that one, as it did qualify. This may help you to see the difference and to cement the rule for you.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #34
  • Mar 27, 2012 6:22am Mar 27, 2012 6:22am
This was the correct trend line Mohsen and why the trade didn't trigger

Nice idea and trading yesterday Iak
Attached Image (click to enlarge)
Click to Enlarge Name: 5m eu TL 27th match.gif Size: 28 KB
  • #35
  • Mar 27, 2012 8:44am Mar 27, 2012 8:44am
I use almost same method. here are 2 trades taken by iak way...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eutl.gif Size: 27 KB
Click to Enlarge Name: autl.gif Size: 31 KB
  • #36
  • Mar 27, 2012 1:46pm Mar 27, 2012 1:46pm
Hey guys, great to see people helping each other. Unfortunately i cant trade until next tuesday so no live ones until then im affraid. from what ive seen posted it looks like you have got the right idea.

As I mention in my first post RSI 9 on a 5min chart is great for spotting divergence. The problem with divergence is it can keep you out of a trade that would have won some pips and it can take you out of a trade too early. This is why I have put it down as optional. I am still experimenting with it really. If entering a trade that has divergence against you then perhaps look to take a quick ten pips maybe. Or ten pips on one lot and then break even on the next lot? Many ways to exit. The trade i posted live simply got to a point where i was happy with the anount of pips and wanted to get out in the sun for the afternoon. I will often trail it by moving the stop up after each pull back in a move until i am taken out. Another thing you could do once in a trade is to plot the pivot and support and resistance lines and aim for those. Its endless really and thats up to you to play with. What you have here is a good excuss to enter a trade. Another idea. As a trade progresses it will have pullbacks that could qualify for entering a extra lot or perhaps jumping in late to a trade you missed earlier?
  • #37
  • Mar 27, 2012 1:47pm Mar 27, 2012 1:47pm
Quoting Pip26
I use almost same method. here are 2 trades taken by iak way...
Great stuff, nice one!
  • #38
  • Mar 27, 2012 1:48pm Mar 27, 2012 1:48pm
Quoting spacePip
This was the correct trend line Mohsen and why the trade didn't trigger

Nice idea and trading yesterday Iak
Excellent. spot on mate! It really helps to keep you out of a bad trade.
  • #39
  • Mar 27, 2012 1:49pm Mar 27, 2012 1:49pm
Quoting capstone
the pullback has to have at least one candlestick that matches the direction of the larger move, followed by at least one more pull back candlestick. What you marked has no candlesticks that go in the direction of the larger move. That is why it would be invalid.

Although the RSI is optional, it would have shown you that the price was already oversold, alerting you to look for a possible reversal.

If you look into the next up move, you will see another flag had formed. draw the line on that one, as it did qualify. This may help you to see...

Yep, awesome. You got it.
  • #40
  • Mar 27, 2012 1:50pm Mar 27, 2012 1:50pm
Quoting capstone
I have gotten pretty good at recognizing 123 reversals, but these continuations have always escaped me. This method may prove helpful. Thanks.

I am not sure I see the need for the RSI. It showed divergence to head south before the price took off north. This seems to happen a lot. Maybe I am just looking at it wrong. It seems the MA's are a stronger indicator as to which side to take. As far as divergence goes, why not just look for the completed 123 pattern or a break of the 50% fib instead of the RSI?

How are you really using the RSI? Is...
I will look into the fibo idea. could be good. cheers
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