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Cluster SR - interesting, new way of looking at support & resistance

  • #341
  • Apr 21, 2012 12:11am Apr 21, 2012 12:11am
Quoting roughtrader
if anyone use Dukascopy here is a template

Hi Roughtrader

Sorry,I'm a new guy here,could you advise what kinds of platform you use,and can i import with this platform..
I'm trading on FXsolution now...
  • #342
  • Apr 21, 2012 12:33pm Apr 21, 2012 12:33pm
Quoting ydf736
Hi Roughtrader

Sorry,I'm a new guy here,could you advise what kinds of platform you use,and can i import with this platform..
I'm trading on FXsolution now...
Hi welcome! I have templates for Mt4 FXCM's Tradingstation 2, and Dukascopy, you will find them in this thread,
there is only 23 pages so they shouldn't be to hard to find,
if you have another platform you have to plot them manually,
there are no hard rules for how to plot them, but I suggest 5, 10 ,15, 20, etc,
all you do is plot a lot of simple moving averages with different periods.
I have them up to 700 periods but most of the times 500 is ok,
it may take a while to plot them all and is booring as hell
but then you just save it as a temlate and you dont have to do that again
they must all be simple ma's, SMA's , exponential ma's EMA's don't work
Bulls are stupid Animals!especially when Im short!
  • #343
  • Apr 21, 2012 12:50pm Apr 21, 2012 12:50pm
Here is a little forecast on EURUSD for the next week,
as we can see on the bias for the pair the thick belt formed
is going downwards and slightly sideways,
that mean the bias is moslty down and a little sideways,
on this chart I also made fibonacci clusters and you can see how well the csma and the clusters are lining up,
the black horisontal line is support and once price has broken that line,
the bias to the downside is confirmed (conservative rules)
and we can begin to look for short entrys after that.
for the more aggresive traders, they could go short once they see price
reversing on one of the clusters and the csma is also lining up,
you would look for additional candle formations, such as a hanging man,
or simular and then go short with the stoploss placed above the cluster,
this is on the daily chart so there could be plenty of pips,
since the bias is by then down and in the larger perspective it is allmost a downwards channel, we should expect that price takes out the low,
but we should also expect some support at that level, so I suggest using the low as first target and if you use a larger position you could take profit on atleast 50% at that point, further, the fundamentals for this pair also looks good, the US dollar is improving and the EUR is more gloomy because of italy. if you don't like to trade the daily chart you could trade intraday but remember, only short trades
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD forecast.jpg Size: 245 KB
Bulls are stupid Animals!especially when Im short!
  • #344
  • Apr 21, 2012 1:30pm Apr 21, 2012 1:30pm
I'd suppose that support now comes in around the 1.3150/60 area if not before. If support holds a return to 1.3280/1.3300 is not unrealistic.
When the Joker is in the deck.. fear not and play it well
  • #345
  • Apr 21, 2012 3:08pm Apr 21, 2012 3:08pm
Quoting Slim Buffett
I'd suppose that support now comes in around the 1.3150/60 area if not before. If support holds a return to 1.3280/1.3300 is not unrealistic.
The support is wide here, I agree, I call the line support but it is really a pivot support line, since price has bounced 3 times from this area, it seems to be strongest at where the line is, and once it have been broken, it shows that the bulls has finally given up (at this level) no more buy limit orders lying around here anymore, the bears has now won and there is more sell orders than buy orders left in the market, and once the market begin to fall, more sell orders will come in and the pair should continue fall and picking up speed. how long before the next support is hard to tell but I think it will atleast go to the previous major low around the 1.26200 area, maybe with some chopping around, but nothing is certain in this buisiness so don't take my word for it
Bulls are stupid Animals!especially when Im short!
  • #346
  • Apr 21, 2012 3:13pm Apr 21, 2012 3:13pm
first sign of this braking down would be to watch the green line which is a fibonacci support cluster, the blue ones are resistance clusters,, if this green area brakes, there is a good chance the black line will also brake, then not much are stopping it
Bulls are stupid Animals!especially when Im short!
  • #347
  • Edited 3:39pm Apr 21, 2012 3:28pm | Edited 3:39pm
What more to strengten this idea is this bearish wedge formation,
this is a bearish pattern that usually brakes out to do downside,
that also gives some strength to the black support line wich is in about the same place
it suggests it could move up a little furter before reversing but observe the stripe right above price,
it is possible it won't go all the way up to the supply line and reverse at the stripe instead,
if it's weak it will lack the strength moving all the way up.
it couldn't do it the last swing, so it looks weak indeed
edit: forgot to mention that it's also allmost overbought
Attached Image (click to enlarge)
Click to Enlarge Name: bearish wedge.jpg Size: 208 KB
Bulls are stupid Animals!especially when Im short!
  • #348
  • Apr 21, 2012 4:19pm Apr 21, 2012 4:19pm
Possible game changers

http://news.yahoo.com/china-military...115145354.html

Not to mention CNY PMI (AUD PPI) due out Sunday PM and .......


I suppose I'll just wait a minute.
When the Joker is in the deck.. fear not and play it well
  • #349
  • Apr 21, 2012 7:28pm Apr 21, 2012 7:28pm
Quoting Slim Buffett
Possible game changers

http://news.yahoo.com/china-military...115145354.html

Not to mention CNY PMI (AUD PPI) due out Sunday PM and .......


I suppose I'll just wait a minute.
lots of things can happend, let's hope for the best
Bulls are stupid Animals!especially when Im short!
  • #350
  • Apr 25, 2012 10:27am Apr 25, 2012 10:27am
Hey roughtrader, how's it going?

I've come back to scalp cluster zones on a demo for a little during the day.
I don't use MT4 as I use FXCM Trading Station for my normal trading so am completely useless when it comes to MT4. I downloaded your template on the first page and have it up and running like before. I have entered a trade, but there is no open position line. How can I get that on the chart also?
I did do a 700MA template for the FXCM Trading Station but have lost it when I changed PC. I will make another when I have time.

Thank you!
ps, if anyone knows the answer to my question above, please also respond, thank you.
  • #351
  • Apr 25, 2012 10:41am Apr 25, 2012 10:41am
Quoting fosking
Hey roughtrader, how's it going?

I've come back to scalp cluster zones on a demo for a little during the day.
I don't use MT4 as I use FXCM Trading Station for my normal trading so am completely useless when it comes to MT4. I downloaded your template on the first page and have it up and running like before. I have entered a trade, but there is no open position line. How can I get that on the chart also?
I did do a 700MA template for the FXCM Trading Station but have lost it when I changed PC. I will make another when I have time.

Thank you!
ps,...
I have also found the template for FXCM's Trading Station. So if anyone wants it, let me know by pm with an email and I can send it to you as it won't allow me to attach it here.
  • #352
  • Apr 25, 2012 1:58pm Apr 25, 2012 1:58pm
Quoting fosking
Hey roughtrader, how's it going?

I've come back to scalp cluster zones on a demo for a little during the day.
I don't use MT4 as I use FXCM Trading Station for my normal trading so am completely useless when it comes to MT4. I downloaded your template on the first page and have it up and running like before. I have entered a trade, but there is no open position line. How can I get that on the chart also?
I did do a 700MA template for the FXCM Trading Station but have lost it when I changed PC. I will make another when I have time.

Thank you!
ps,...
Hi fosking! you will find the csma template for FXCM's Tradingstation on the bottom of this page http://www.forexfactory.com/showthre...=341877&page=9 about open position lines, I thought that was default in MT4? maybe you can't see the them because of all MA's covering them? they are pretty thin lines
Bulls are stupid Animals!especially when Im short!
  • #353
  • Apr 25, 2012 2:49pm Apr 25, 2012 2:49pm
Quoting roughtrader
Hi fosking! you will find the csma template for FXCM's Tradingstation on the bottom of this page http://www.forexfactory.com/showthre...=341877&page=9 about open position lines, I thought that was default in MT4? maybe you can't see the them because of all MA's covering them? they are pretty thin lines
I've developed a system using the csma and will be trying it out over the next couple of weeks. If it's profitable I will post it.
It's basically using a trend following indicator and only buying the cluster supports in an up trend and selling cluster resistance in a down trend. It looks like it could be promising, so fingers crossed.
  • #354
  • Apr 26, 2012 12:54am Apr 26, 2012 12:54am
Hi every one!
May some one have me to find this indicator
  • #355
  • Jun 22, 2012 7:29am Jun 22, 2012 7:29am
Quoting roughtrader
Hi fosking! you will find the csma template for FXCM's Tradingstation on the bottom of this page http://www.forexfactory.com/showthre...=341877&page=9 about open position lines, I thought that was default in MT4? maybe you can't see the them because of all MA's covering them? they are pretty thin lines
Hi Roughtrader

how are you doing.
I didn't see you update this theme so long time..

Thanks
Terry
  • #356
  • Jun 27, 2012 5:49am Jun 27, 2012 5:49am
Quoting ydf736
Hi Roughtrader

how are you doing.
I didn't see you update this theme so long time..

Thanks
Terry
been a little busy with other stuff but Im not sure what I can add, I think I wrote most about all there is to it, after all it's not rocket schience, but it would we fun if you other guys would post your findings and trades, especially it would be fun to hear how foskings system is working,
Bulls are stupid Animals!especially when Im short!
  • #357
  • Jul 4, 2012 7:01am Jul 4, 2012 7:01am
Quoting roughtrader
been a little busy with other stuff but Im not sure what I can add, I think I wrote most about all there is to it, after all it's not rocket schience, but it would we fun if you other guys would post your findings and trades, especially it would be fun to hear how foskings system is working,
This is very similar to the Scalping the Rainbow system, although a weighted moving average is used in that thread.
  • #358
  • Jul 4, 2012 7:14am Jul 4, 2012 7:14am
Quoting TheMaxx
This is very similar to the Scalping the Rainbow system, although a weighted moving average is used in that thread.
it only looks simular I think, he seems to be using another concept of selling highs and buying lows, the csma is more of making bounce entrys against the stripes that takes shape in all the sma's, but it can be used in many ways, thanks for the interest.
Bulls are stupid Animals!especially when Im short!
  • #359
  • Jul 4, 2012 7:26am Jul 4, 2012 7:26am
Quoting roughtrader
it only looks simular I think, he seems to be using another concept of selling highs and buying lows, the csma is more of making bounce entrys against the stripes that takes shape in all the sma's, but it can be used in many ways, thanks for the interest.
Ah - I'll re-read your thread once again then.
  • #360
  • Jul 4, 2012 9:39pm Jul 4, 2012 9:39pm
Quoting roughtrader
I bet you didn't see this before
please notice the stripes formed and what happends when price reach them,
they function as diagonal support and resistance, take it or leave it
could you trade this? yes sure but you need confluences like horisontal support and maybe a clue on which way the market is going.
the stripes are made by price it self, the MA's are just reflecting that.
so they tend to be valid zones compared to lines
this is my interest(eureka moment)!
tnx a lot
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