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Extreme TMA System

  • #9,021
  • Apr 16, 2012 9:21am Apr 16, 2012 9:21am
Dear Al,

Did you have any interest with the Dollar Index indi for MT4 that was shared by a kind member previously?

I'm trying it out now and wondered please may I ask your thoughts when you have time?

God bless you, and your Mom
Tracking the Specialists.
  • #9,022
  • Apr 16, 2012 9:37am Apr 16, 2012 9:37am
Quoting grechmar
I was just asking your views as to wht will happen t the end of mb3, but i think its too early to tell, jsut a stupid question by my part .

@Darshanag
I think me and you plotted the same RSI trendline(show in red) while in reality we should have drwn a stronger one, the one AL drew(shown in blue, still holding).

Attachment
You must always draw the trendline connecting the two points of RSI that signal divergence to price. Said in another way. The highest point connected to the second highest point.
Observation is the path to discovery.
  • #9,023
  • Apr 16, 2012 9:42am Apr 16, 2012 9:42am
Quoting grechmar
I was just asking your views as to wht will happen t the end of mb3, but i think its too early to tell, jsut a stupid question by my part .

@Darshanag
I think me and you plotted the same RSI trendline(show in red) while in reality we should have drwn a stronger one, the one AL drew(shown in blue, still holding).

Attachment
U guessed it Grechmar ! Very much a novice at this as you can tell by now ! ;-)
  • #9,024
  • Apr 16, 2012 9:47am Apr 16, 2012 9:47am
Quoting Alorente
H1 RSI EurUsd trendline has not been broken. See below.

Now that price has come close to the trendline, mb3 can begin at any time.
Apologies for any confusions I may have caused by my comments to Interbucks.. As Grechmar correctly identified, I've drawn a trendline that is different to the one Al has drawn (the right one I guess!).. Oh well.. practice makes perfect !

Darshana.
  • #9,025
  • Apr 16, 2012 9:52am Apr 16, 2012 9:52am
Quoting Connected
Dear Al,

Did you have any interest with the Dollar Index indi for MT4 that was shared by a kind member previously?

I'm trying it out now and wondered please may I ask your thoughts when you have time?

God bless you, and your Mom
Yes. Iīm using it. It is nice to have.
Observation is the path to discovery.
  • #9,026
  • Apr 16, 2012 9:53am Apr 16, 2012 9:53am
Quoting darshanag
Apologies for any confusions I may have caused by my comments to Interbucks.. As Grechmar correctly identified, I've drawn a trendline that is different to the one Al has drawn (the right one I guess!).. Oh well.. practice makes perfect !

Darshana.
It seems c2 is targeting the 38.2% Fib retracement at 1.3077. Weīll see.
Observation is the path to discovery.
  • #9,027
  • Apr 16, 2012 9:53am Apr 16, 2012 9:53am
Quoting Alorente
H1 RSI EurUsd trendline has not been broken. See below.

Now that price has come close to the trendline, mb3 can begin at any time.
I think there is a discrepancy because of templates in terms of RSI being drawn.

The template "Lorente large chart" and the older templates which still has the TMA Slope indicator somehow changes how RSI is being drawn. That could be one of the problems.

The other potential RSI problem is that when you drag the RSI from the Navigator of MT4 onto the chart, the default values for the RSI in MT4 are different than the values in the "Lorente large chart" template.

The default MT4 values are Period 14, Fixed Minimum 0, Fixed Maximum 100.

In the "Large Lorente chart" template the values are Period 14, Fixed Minimum 15, Fixed Maximum 85.

Maybe this is why some people are saying RSI broke the trendline and your trendline remains unbroken.

Just an observation.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: rsi discrepency 1.gif Size: 48 KB
Click to Enlarge Name: rsi discrepency 2.jpg Size: 155 KB
  • #9,028
  • Apr 16, 2012 10:25am Apr 16, 2012 10:25am
Quoting Alorente
You must always draw the trendline connecting the two points of RSI that signal divergence to price. Said in another way. The highest point connected to the second highest point.
Al, I'm really struggling to understand this last point you made in regards to the divergence. How do you know if you ever have the line correct before the move is over, if the second highest point keeps changing? Here's my chart:

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd3.jpg Size: 214 KB


As you can see, the RSI going up has breached my down trend line I had drawn, and is now approaching my previous up trendline line I had drawn earlier. Where does the divergence you mention come into play? I know I'm doing this wrong, and since you've included this in your template, I know it's important to understand.

Matthew
  • #9,029
  • Apr 16, 2012 10:27am Apr 16, 2012 10:27am
EurUsd is at the 38.2% retracement level. The next bar (2ooth) starts the drop again. We need to see price drop in order to keep the 200 MA at the same angle. The drop is approximately 100 pips in 7 hours. Letīs see if we get it.
Observation is the path to discovery.
  • #9,030
  • Apr 16, 2012 10:31am Apr 16, 2012 10:31am
Quoting railman
Al, I'm really struggling to understand this last point you made in regards to the divergence. How do you know if you ever have the line correct before the move is over, if the second highest point keeps changing? Here's my chart:

Attachment

As you can see, the RSI going up has breached my down trend line I had drawn, and is now approaching my previous up trendline line I had drawn earlier. Where does the divergence you mention come into play? I know I'm doing this wrong, and since you've included this in your template, I know it's...
You drew the trendline wrong. Look at post 9016 for the correct trendline.

It doesnīt really matter now. The trendline was broken and I deleted it from the chart.
Observation is the path to discovery.
  • #9,031
  • Apr 16, 2012 10:35am Apr 16, 2012 10:35am
Quoting railman
Al, I'm really struggling to understand this last point you made in regards to the divergence. How do you know if you ever have the line correct before the move is over, if the second highest point keeps changing? Here's my chart:

Attachment

As you can see, the RSI going up has breached my down trend line I had drawn, and is now approaching my previous up trendline line I had drawn earlier. Where does the divergence you mention come into play? I know I'm doing this wrong, and since you've included this in your template, I know it's...
I would say that your red line should be starting/touching the rsi peak as common with the pivot high price point as seen on the price chart. Use crosshair. yours starts way off/above the top of it.
  • #9,032
  • Edited 12:27pm Apr 16, 2012 10:54am | Edited 12:27pm
Quoting grechmar
I was just asking your views as to wht will happen t the end of mb3, but i think its too early to tell, jsut a stupid question by my part .

@Darshanag
I think me and you plotted the same RSI trendline(show in red) while in reality we should have drwn a stronger one, the one AL drew(shown in blue, still holding).

Attachment
Good point, thanks... but from how far back do one draw an RSI trendline then?
Regarding the 200 bars issue... there is no ways I can see 200 bars back on my screen ... I have to zoom out as far as I can.. then one can not see individual bars anymore to measure with crosshair...

I'm afraid I'm losing out a bit with the latest direction we are taking with Al... getting complicated .... me and my small screen both need an upgrade I guess!
Its a pity, ....I so much want to be successful with all this....

I'm very thankful and appreciate all the input of Al and all the other clever friends onboard.... but I think that some of us newbies are losing traction here. With the 'old' TMA system I could still cope with... but with limited experience and fx background...I'm having a hard time keeping up with the 200 bars, the heads and shoulders, the trend lines, etc..... but I won't give up.... I will keep on trying......THANK YOU ALL ONCE AGAIN.
  • #9,033
  • Apr 16, 2012 11:10am Apr 16, 2012 11:10am
Quoting crodzilla
As I have pointed out the last several days... the very large PUT option open-interest at 2991 has held so far. That level should be defended pretty heavily by those that have written those options (big boys).

If 2991 gets taken out, I would think that price will fall precipitously as Al has mentioned recently.

Carl
Tagged 3087 (by half a pip), and is pulling back from that high open interest PUT option level. There may be a war brewing between these two levels.

Carl
  • #9,034
  • Apr 16, 2012 11:16am Apr 16, 2012 11:16am
Hello Al and members,

A big thank you to all that have contributed ideas and questions to this thread. After reading all the posts my knowledge of trading has improved significantly.

However as a newbie I'm currently struggling with identifying the various elements of the breathing system.

To try and simplify matters I have plotted two parabolic sar indicators
on my 1hr chart with the following settings:-

major breath (step 0.005, maximum 0.1)
minor breath (step 0.055, maximum 0.5)

Can anyone advise as to whether my settings tie in/confirm the various breaths of the system, or am i just wasting my time with such an exercise.

Thanks in advance.

Regards
T.
  • #9,035
  • Edited 12:32pm Apr 16, 2012 11:29am | Edited 12:32pm
Someone was asking about USD. You see a very clear and strong uptrend when looking at the Daily chart. It's fighting with the resistance at 80.20 - 80.30 currently and once/if it clears it, will have two other hurdles to go to 82. One is 81.10, and the other is the downward sloping trendline which shows the dollar inside a large Triangle pattern.

Note the labels are Elliot Wave and only speculative, there may not be a "D" or "E". I recently got burned on Natural Gas (punn intended ) as it formed a very similar and even better looking large Triangle and as I anticipated "D", price blew right through the trendline and I missed a great entry at C.

Edited - TL placement is often tricky, 'D' in fact could already be completed as the jpg I added shows, and note 'E' often terminates very abruptly and doesn't necessarily complete itself

Anyway the bottom line here is one of these TL's has to lose, and you can't "count" on either one, literally. There is a short term downtrend inside a large term uptrend, something has to give soon, my speculative opinion and trading account sides with Al.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USD2.JPG Size: 121 KB
Click to Enlarge Name: untitled.JPG Size: 109 KB
  • #9,036
  • Apr 16, 2012 11:31am Apr 16, 2012 11:31am
Connected,The pleasure was mine and is little to what is shared here.

Al,

Hope your mom is doing ok,wishing her the best


Greetings,


Rob


I
  • #9,037
  • Apr 16, 2012 11:50am Apr 16, 2012 11:50am
This indi will show an arrow 200bars back

Done with pleasure,


Rob
Attached File(s)
File Type: mq4 barcount1.mq4   < 1 KB | 554 downloads
  • #9,038
  • Apr 16, 2012 12:05pm Apr 16, 2012 12:05pm
Hey Rob, thanks this is really useful! may I please ask will the accuracy of the index vary per timeframe?
Thanks again

Quoting Deepfxtrader
Connected,The pleasure was mine and is little to what is shared here.

Al,

Hope your mom is doing ok,wishing her the best


Greetings,


Rob


I
Tracking the Specialists.
  • #9,039
  • Apr 16, 2012 12:07pm Apr 16, 2012 12:07pm
Quoting Alorente
I agree. More focused threads on various aspects of this one would be very beneficial. I just donīt have the time for additional threads. My mother, who recently has quickly become blind from glaucoma, has moved to live with me since three weeks ago and tending to her absorbs a large part of my day. It would be great if some of you start spinoff threads that would focus more on specific aspects of what we are discussing here.
Hi Alorente i just happen so see a response to this post. I follow a naturopath by the name of vaughn lawrence, who has a lot of youtube videos for natural health through diet. I heard in one of his videos/or articles that glaucoma is caused by inflamed kidneys. Take care of kidney function with foods like radishes and spirrullina and good mineralized water it should aleviate symptoms. Hope this helps.
  • #9,040
  • Apr 16, 2012 12:09pm Apr 16, 2012 12:09pm
To my knowledge it's the same on all timeframes,just keep in mind that the ma's aren't the same on the timeframes and can be adjusted to your taste.

Glad to help,

Rob
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