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Extreme TMA System

  • #10,941
  • May 23, 2012 8:27am May 23, 2012 8:27am
Quoting ncc74656
Is now good time to go short USDCHF? Trix is red, Tma Slope goes down and it is above H4 Tma on M15 chart. But H4 & H1 Tma slope are 0.45. Or should I wait until H4, H1 and M15 Tma Slope are less than 0.25?
I am short UsdChf, UsdCad and long UsdJpy, EurUsd, GbpUsd and GbpJpy.
Observation is the path to discovery.
  • #10,942
  • May 23, 2012 8:28am May 23, 2012 8:28am
Quoting Ayobami
I think I now have a better way to use this system in my own way. Combining it with TRIX MTF is working with me.
Do you have a Trix MTF indicator? I would like to see it if you do...
Observation is the path to discovery.
  • #10,943
  • May 23, 2012 8:33am May 23, 2012 8:33am
Quoting KumoDragon
Ok, two more noob questions for today.

1.In the earlier versions of the template the extreme spike idicator was used. Once price goes outside the bands and all the other numbers line up, how do we decide if a spike is spike and not just movement outside the band?

Just personal judgment?

2. On past verisons of the template their was heiken ashi. In the directions it says to sell/buy as the first HK candle changes color. Being that their is no longer HK candles are we waiting for a correctly colored normal candle to close?
The Spike indicator was to fickle. Spikes kept appearing and dissapearing often, so we created the Slope indi instead. Even though it repaints, at least it doesn´t dissappear.

You can use Heiken Ashi color change or Fast Trix color change for entry and/or exit.
Observation is the path to discovery.
  • #10,944
  • May 23, 2012 8:37am May 23, 2012 8:37am
Quoting Alorente
The Spike indicator was to fickle. Spikes kept appearing and dissapearing often, so we created the Slope indi instead. Even though it repaints, at least it doesn´t dissappear.

You can use Heiken Ashi color change or Fast Trix color change for entry and/or exit.
Thanks! Could you please comment on my above EU pic? I'm currently in it short as I understand the rules.
  • #10,945
  • May 23, 2012 8:41am May 23, 2012 8:41am
Below is the UsdJpy Daily chart. As we have mentioned, price retraced to the 61.8% Fib retracement level of 79.14 and took off yesterday. As you can also see, it broke the down trendline for the second ime and returned back inside for another pullback which I mentioned last night that I expected. I loaded up on longs again and I expect a final break of the trendline is upcoming. The 2 Trix divergences and the Coral coming down to meet the 200 MA are also doing what they are supposed to. The TMA channel you see is the daily. Price is right now at the lower band and should move to the opposite band at 82 in the next few days.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.jpg Size: 85 KB
Observation is the path to discovery.
  • #10,946
  • May 23, 2012 8:42am May 23, 2012 8:42am
Quoting Alorente
I am short UsdChf, UsdCad and long UsdJpy, EurUsd, GbpUsd and GbpJpy.
Why did you go long USDJPY? TmaSlope shows Sell Only. Is it because price was below lower silver line on M15?
  • #10,947
  • May 23, 2012 8:43am May 23, 2012 8:43am
Quoting bassramy
Daily Read,

Fundamentals
-http://www.bloomberg.com/news/currencies
-http://online.wsj.com/public/page/news-currency-currencies-trading.html
-http://www.ft.com/intl/markets/currencies
-http://www.cnbc.com/id/15837548/cid/97220/sh/3

Technicals :
-Australian dollar sinks to six-month lows
-http://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2012/05/23
-Yen falls on Fitch sovereign downgrade
-Euro drops after Papademos says euro exit risk is ‘real’

Summary :
EURO Weak four...

I love this synopsis you provide each day, thanks!

Lee
"The more I practice the luckier I get." Gary Player
  • #10,948
  • May 23, 2012 8:49am May 23, 2012 8:49am
Quoting KumoDragon
Thanks! Could you please comment on my above EU pic? I'm currently in it short as I understand the rules.
Here is the M15 EurUsd chart. A you can see the M15 channel is at the bottom of the H1 and the H4 channels and turning upward. The Daily channel is not pictured, but price is also at the bottom of that channel. It is quite clear that EurUsd´s next move will be higher to turn the M15, H1 and H4 channels upwards towards the opposite wall of the D1 channel. When will the move begin noone knows, but from the looks of it, it could be soon.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 72 KB
Observation is the path to discovery.
  • #10,949
  • May 23, 2012 9:00am May 23, 2012 9:00am
Quoting Alorente
Here is the M15 EurUsd chart. A you can see the M15 channel is at the bottom of the H1 and the H4 channels and turning upward. The Daily channel is not pictured, but price is also at the bottom of that channel. It is quite clear that EurUsd´s next move will be higher to turn the M15, H1 and H4 channels upwards towards the opposite wall of the D1 channel. When will the move begin noone knows, but from the looks of it, it could be soon.

Thanks, but I meant, if the other rules lined up, which I think they have, if that little peep above the TMA top is enough to consider it a spike?
  • #10,950
  • May 23, 2012 9:08am May 23, 2012 9:08am
Quoting ncc74656
Why did you go long USDJPY? TmaSlope shows Sell Only. Is it because price was below lower silver line on M15?
I trade H1 and I follow the H1, H4 and D1 channels. The values of smaller TF channels are not important to me since I hold to the H1 or H4 opposite band.
Observation is the path to discovery.
  • #10,951
  • May 23, 2012 9:09am May 23, 2012 9:09am
Quoting KumoDragon
Thanks, but I meant, if the other rules lined up, which I think they have, if that little peep above the TMA top is enough to consider it a spike?
As long as it touches the band, the Rule is valid.
Observation is the path to discovery.
  • #10,952
  • Edited 9:52am May 23, 2012 9:09am | Edited 9:52am
First two live small pip trades successfull.

EU short +25
USD/CHF long +18

Set both at BE before news and came within a hair of getting stopped out when spreads widened to +10 pips at news time. Both stopped out at other side of TMA now.

P.S. I'm impressed. I've tried a lot of methods from FF and was not able to get winners following presrcibed methods right away.

LOL DANGIT, had I not set postive stop loss so early both of those trades would have big winners. Thats the way it goes though I guess lol, you never know when is a good time to set a postive SL.
  • #10,953
  • May 23, 2012 9:11am May 23, 2012 9:11am
Quoting Alorente
As long as it touches the band, the Rule is valid.
But, you still want price to move outside top or bottom of the band, first, before considering a trade, right?
  • #10,954
  • May 23, 2012 9:13am May 23, 2012 9:13am
Quoting Grins
I love this synopsis you provide each day, thanks!

Lee
Thank you sir its my pleasure,

This is my homework everyday after i check my open positions and do some trading maintenance on them, check my email and before i scan and make any trade.
I llike to have some feedback from other members if that helps cause i feel like nobody is reading this, i know funda is boring sometimes but it definitely gives you the whole and big picture, and I'm a technician talking.
Master Your Setup, Master Your self. (NQoos)
  • #10,955
  • May 23, 2012 9:17am May 23, 2012 9:17am
Quoting KumoDragon
First two live small pip trades successfull.

EU short +25
USD/CHF +18

Set both at BE before news and came within a hair of getting stopped out when spreads widened to +10 pips at news time. Both stopped out at other side of TMA now.

P.S. I'm impressed. I've tried a lot of methods from FF and was not able to get winners following presrcibed methods right away.
Excellent. Now all you need is a few more winners to build up your confidence.
Observation is the path to discovery.
  • #10,956
  • Edited 2:01pm May 23, 2012 9:18am | Edited 2:01pm
Quoting KumoDragon
But, you still want price to move outside top or bottom of the band, first, before considering a trade, right?
The further price moves across the bands, the higher the probability of a winning trade.
Observation is the path to discovery.
  • #10,957
  • May 23, 2012 9:31am May 23, 2012 9:31am
oops prices broke badly the support of 1.26234 if it closes like this @ NY CLOSE we are heading for 1.19227 BE AWARE THIS IS SERIOUS. New US Home Sales better than forecast is the TRIGGER. Already @ 1.2582 @ 15.30 GMT. SILVER, GOLD, A/U, G/U, N/U all of these followed.
Master Your Setup, Master Your self. (NQoos)
  • #10,958
  • May 23, 2012 9:37am May 23, 2012 9:37am
Quoting Alorente
Excellent. Now all you need is a few more winners to build up your confidence.
Ya definately need confidence right now. I have none in myself as a trader right now. Took the last six months off of trading after blowing my last small account. Did all the wrong things, moved stop losses further, overleverages, revenge traded. Just ended up in a self feeded death spiral. Now I'm back fresh.

Looking at past trades, every other method I tried or tried to make up, was going short at the bottom or long at the top...basically chasing price after it moved. So inevitibly price would reverse on me hard at entry...a lot.

So, this method makes lots of sense to me.
  • #10,959
  • May 23, 2012 9:41am May 23, 2012 9:41am
Price retested the up trendline and down he continues.
Attached Image (click to enlarge)
Click to Enlarge Name: eu d1 chart.jpg Size: 191 KB
Master Your Setup, Master Your self. (NQoos)
  • #10,960
  • May 23, 2012 10:01am May 23, 2012 10:01am
  •  Mr C
  • Joined Mar 2012 | Status: Knowledge is "potential" power | 439 Posts
I just got my first notification to look for Recovery my blue line will trail price then on reversal should notify me again to look at a potential recovery when back under blue line.
PC
Attached Image (click to enlarge)
Click to Enlarge Name: price alert 2.gif Size: 42 KB
Of all the things I've lost I miss my mind the most .
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