This support level proving a little tougher to crack.
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I made a backtest using 123patternV6 on G/U 4H from 01.01.2012 until 11July, I know that you use it, using a TP+60 pips and a SL=20. The result are a profit of 500 pips. But, using E/U the results are a disaster!
I see that using this indicator on 30min G/u had good results.
How do you say about it?
I made a backtest using 123patternV6 on G/U 4H from 01.01.2012 until 11July, I know that you use it, using a TP+60 pips and a SL=20. The result are a profit of 500 pips. But, using E/U the results are a disaster!
I see that using this indicator on 30min G/u had good results.
How do you say about it?
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On a 4hr chart could easily believe it with a 20 pip stop.
I had a quick look now and GU even on 4hr looked interesting (never really looked with V6 on 4hr before as far as I can recall). Would need to have a closer look as only 500 pips seems strange.
EUR I can easily believe, with the Euro zone crisis we have had a CT trade ban for ages. Its mainly been 1 way traffic selling for some time.
Did you have a good look to see if its getting trades at the extremes nicely and its re-entry into a move causing problems? Did you check for times of day that fail consistently and should then be avoided? Did successful trades and failures seem to have anything in common, eg succesful trades set up with say a 75 pip spread between the 1 - 2 points and failed trades had a higher range than that.
Once you have a set up you would then need to go to lower TF's to check drawdown for each trade to see if 20 pips (which sounds small for a 4hr set up) is realistic.
I made a backtest using 123patternV6 on G/U 4H from 01.01.2012 until 11July, I know that you use it, using a TP+60 pips and a SL=20. The result are a profit of 500 pips. But, using E/U the results are a disaster!
I see that using this indicator on 30min G/u had good results.
How do you say about it?
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Well Mate u mustnt be using it rite.. or dont understand it.. Or need Glasses..This is in the top 5% of systems on this forum..and i have a sneaking suspicion u are just sht stirring..
Well Mate u mustnt be using it rite.. or dont understand it.. Or need Glasses..This is in the top 5% of systems on this forum..and i have a sneaking suspicion u are just sht stirring..
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Thanks for those words danc but I don't think he means anything bad. One of the draw downs of the V6 indi is it signals a trade on the close of the candle beyond the 3 point (see post 1). That candle close could be far beyond the entry we would look for at the close of a candle back into trend. If you look at the pics in post 1 we are looking for entries that set up on 1hr at the x level not the candle that closes beyond the 3 point.
The diff is massive. Then there are the other little tips that we have picked up along the way (like avoiding weak CT pre/early US session) that keeps us out of trouble on many occassions.
On a 4hr chart could easily believe it with a 20 pip stop.
I had a quick look now and GU even on 4hr looked interesting (never really looked with V6 on 4hr before as far as I can recall). Would need to have a closer look as only 500 pips seems strange.
EUR I can easily believe, with the Euro zone crisis we have had a CT trade ban for ages. Its mainly been 1 way traffic selling for some time.
Did you have a good look to see if its getting trades at the extremes nicely and its re-entry into a move causing problems? Did you check for times of day...
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In this backtest I don't use your method!!!
I use only this indicator and "I was enter in a trade" only at the open of the next candle in the direction of the signal that was gave by this indicator!
But....You gave me a briliant idea: to use "your strategy" when I will made another backtest!
The answer of your questions is NO, but I verified in a lower TF (5 min) the evolution of this trades!
Please forgive my bad english!!!
Thanks!
In this backtest I don't use your method!!!
I use only this indicator and "I was enter in a trade" only at the open of the next candle in the direction of the signal that was gave by this indicator!
But....You gave me a briliant idea: to use "your strategy" when I will made another backtest!
The answer of your questions is NO, but I verified in a lower TF (5 min) the evolution of this trades!
Please forgive my bad english!!!
Thanks!
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Even if checking this on 4hr, you still need the 1hr to be playing along. 5 min hl/lh then just for timing entry.
Sell bias did play out yesterday. We had 1hr lower high lower lows. That might have been broken in US session, see arrow up.
Not too sure about today. Support resistance levels all over the place. Hopefully there will be solid 1hr set ups. If in doubt will stand aside and (as often happens) hope the US session will confirm with an intra day hl/lh (avoiding the weak pre/early US fake out).
GU move up through upper trend line failed yesterday closing with a shooting star. 4hr divergence. Also expecting a move down.
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A small move down did happen yesterday to test the lower trend line. Expecting a move down was clearly an incorrect over emphasis and whilst there were reasons to look for a sell the 1hr higher high higher low 'flow' was still in tact. 5670/5700 is clearly a R level and we can fall from there, the reaction lower Y was not as severe as prev days. I think then it can go up or down but buy bias.
Notice also monthly PPX same point.. i have got it 2334
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Yep and 4hr clearly shows the potential for a bounce from here but I'll wait for at least some support from 1hr. At this stage I'll stick to view (although its not pre/early US just yet) that we have potential to go lower.
Yesterday the 4hr lh after divergence set up OK and on clear 4hr lh.
Its just one of those that if the hl from here does play out that I'll wave bye bye to without regret. A 1hr hl between now and during US morning session a different story.
eu15 min.. traded it on way down.. sort of 1/2/3.. pins at hi then break of ma cluster.. was enter point.. also have long possie have had for several days at and above current low.. Nice call last nite re this one V.. good to see you posting constant again..
eu15 min.. traded it on way down.. sort of 1/2/3.. pins at hi then break of ma cluster.. was enter point.. also have long possie have had for several days at and above current low.. Nice call last nite re this one V.. good to see you posting constant again..
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Its a public hol here and Mrs V is having a day off so I'm watching. Our first big contract is winding down (32000 sqm's built in a year all in all a staggering achievement) and waiting for next contracts to come through. So depending on its timing I'll either have more time for trading or have to stick to the analysis that Mrs V can read on blog to see what I think.
You don't seem to have pivots on your charts but the eur shooting star on 15 min was a great reject of M3 at 2383. That area was support on 6/7 Aug (which I missed seeing this morning) which became resistance today at M3. So that was a great trade if you got in at the top. We only entered later. Still a nice little move down.
buy, but there is very nice flag. i trade flags so small SL and will sell the flag on a break
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I have a re-entry sell set up and its just triggered. Would only do it on this kind of W pivot and prev lows when there are pips in the bank from prior trades and done with half normal lots.
Higher low, lower high system
