Channel surfing!

Ok, so a quick background. I've traded for 13 years. EVERYTHING. Stokcks, futures, options and forex. I focus on options and forex now. In the 13 years I think I've tried, tested and traded almost every strategy, auto system in the market. In fact, I managed a large fund that was made up of 100% automated system based in tradestation created by my partner and I. I've also co owned a Introducing Brokerage and have personally met some of the best most powerful traders in the world. On top of that, I am VERY involved in one of the worlds largets trading and investing schools. Long story short, I've seen it all... I've been around the block.

I know a few things for sure.
#1 - Low Vol is ALWAYS, followed by high Vol..... ALWAYS! Remember that. And think about that when looking at the current S+P value sitting at 1433 with the VIX starting to move up.... HINT HINT.
#2 - There are a TON of fakes out there. A lot of people are not who they say they are. Thats sad because I love this business and us good guys need to change it!
#3 - Things that work in trading: Price Action...... Thats it. With that Price Action forms supply and demand. The best setups are after a rise or fall in price, into a supply or demand level against the longer term trend.

Let me hit on #3. NZDUSD is perfect right now. Current long term (daily) trend is UP, Shorter term trend (4h) is UP, Price fell to a demand level! JACKPOT! BUY BUY BUY!

So, my strategy is simple: (I use 2 SHI channel indicators that are coded by others. They do a nice job. So THANK YOU to whoever created them)

Pull up a 4H chart
Add "Sonic SHI Channel MTF" indicator with the TF changed to 1440
Add "SHI_Channel_True_Modified_Version" (this will plot the 4H timeframe)

The trade:
Both 1440 and 4H channels moving in the same direction. Wait for a move against the trend and a close outside the far side of the 4H channel or the Daily channel and into demand or supply. Wait for a close back into the 4H channel or the daily channel. Take the trade! Use the low pivot as a SL and a supply and demand level as the target!

Simple: Picture will tell the story.... I hope!

Take a look. I will keep posting trades.
White lines are supply and demand. Orange is the Daily SHI Channel. Green is the 4H SHI Channel. Red is my BUY point. Stop is 8175 (Just below Demand) and target is 8310 (Supply).

Sounds great!

Could it be possible to attach also the indicators needed along with a template in order to avoid any unwanted misconfiguration?

Thank you in advance,
Akis

I would post them but I dont know how to. Remember, I'm a trader, not a codder or a forum guru. I think I got them from X-mans simple thread.... Its a simple daily and 4H channel but whoever codded them did a good job at seeing these in a very simple way.

Current EUR/USD chart has price bouncing off the bottom of the 4HR channel, however, the daily channel is currently inside of the 4HR channel. How would you handle this scenario?

I like it if we can get a strong close above the daily channel. I'd have a wider stop of 1.2740 and 2 target. Close 2/3 at 1.2940 and the last 1/3 at 1.2995.

Look for a strong close into the channel. We are sitting at weak demand and if we dont get a stronger close into the channel we could move to 1.28 (strong demand) where I would for sure be a buyer with the same 1.2740 stop. Maybe take 1/2 now and 1/2 at 1.28 if we get down there.

Ok... one more scenario... GBP/JPY... what would you do?

LOVE IT! Its on my radar! Just waiting for the confirmation close into the 4H!

On another note, I also love the LONG EURUSD and GBPJPY for my LONG Deep in the money calls I bought today on CAT. EURUSD getting a bid should push up the market thus help my DITM Call calls!

It appears to already be in the 4HR. Do you mean the daily?

Yes, good catch. Sorry. Been up since 430 AM....

Trade coming together in USDCHF. Look for close under Daily channel. Simple... Stop searching for the next best system and start making money the simple way. Trend, Price Action and Supply and demand. Nothing else.

X will be my stop and the check mark will be my target.

For those "market driven traders", the ones that trade anything moving. Look for $ weakness and risk on equity strength tomorrow in the US market it the current NZDUSD, USDCHF, EURUSD, GBPJPY trends and trades hold true. Im looking for a strong push back up to 1450.

FYI - NZDUSD may move down slightly over the next few hours. Its trading at the daily mid line and we have some supply at 8260. Target is still 8310. Might want to take off a portion of the position at this level and let the rest run to the target.

can you post your screenshot of nzdusd - want to set it up like yours to make sure I am following along correctly

Current NZDUSD

nice,

I have few questions

 

1. can I trade this particular way of trading on 15 mins?
   
2. how can I know if price action will break the channel or will go back from the channnel line?
   
3. what stoploss and take profit I shud keep on 15mins?

please send me indicators on [email protected]

and then I will attach it here for people to use.

thankyou

Are you referring to these attached indicators?

Also, when you talk about supply and demand, are you talking about Sam Seiden's definition of S/D?

this both indicators are same or different?

and will this indicators adjust them self automatically when the channel is broke? or we need to do some refreshing?

They have some differences but both indicators serve the same function of drawing channels.

And yes, they will automatically repaint when a channel is broken and a new one forms.

How do you determine your demand and supply?

http://www.forexmobi.ru/SHI%20Channe...%20VERSION.php
Here is the MQL