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Channel surfing!

  • #101
  • Oct 4, 2012 10:47am Oct 4, 2012 10:47am
Quoting tmoney5474
Both are setting up short. If you look at the pics, you will see both the 4H and daily channels are trending down. Also trading at or near supply or prior demand. (EURAUD much strong supply then USDJPY) We now wait for a close outside either the 4H or daily channel. (4h in both of these cases) That is our signal to prep for a trade. (EURAUD just closed outside the 4H channel.) Once price then closes back into the channel, we place the trade in the direction of trend. Our SL and TP will be based on supply and demand/major pivot areas. Check...
Thank you tmoney for your system . I like it very much. But my problem is that I can never match my daily channel with yours as you can see from my charts. It would be very helpful if you can upload your template or the setting of your indicators, Thank you again and God Bless
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: channel23.GIF Size: 197 KB
  • #102
  • Oct 4, 2012 11:03am Oct 4, 2012 11:03am
Quoting harar
Thank you tmoney for your system . I like it very much. But my problem is that I can never match my daily channel with yours as you can see from my charts. It would be very helpful if you can upload your template or the setting of your indicators, Thank you again and God Bless
That is strange. Your EURAUD lines up with mine but your USDJPY is off. Are you using the same settings on both? Chat on a 4H and MTF channel set on 1440?
  • #103
  • Oct 4, 2012 11:14am Oct 4, 2012 11:14am
Yes Tmoney I use the same setting on all the charts and I have noticed this in many charts comparing them to yours. On the chart below you can see the daily channel setting
Attached Image (click to enlarge)
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  • #104
  • Oct 4, 2012 11:30am Oct 4, 2012 11:30am
Quoting harar
Yes Tmoney I use the same setting on all the charts and I have noticed this in many charts comparing them to yours. On the chart below you can see the daily channel setting

That is really strange. Try to switch to a 60M chart and back to a 4H. I'm not sure why that is happening.
  • #105
  • Oct 4, 2012 11:46am Oct 4, 2012 11:46am
hi harar, I have the exact same problem ..not sure why..


Quoting harar
Yes Tmoney I use the same setting on all the charts and I have noticed this in many charts comparing them to yours. On the chart below you can see the daily channel setting
  • #106
  • Oct 4, 2012 11:49am Oct 4, 2012 11:49am
hi Tmoney..I tried to solve this also but no clue atm
Here is my USDJPY H4


Quoting tmoney5474
That is really strange. Try to switch to a 60M chart and back to a 4H. I'm not sure why that is happening.
Attached Image (click to enlarge)
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  • #107
  • Oct 4, 2012 11:58am Oct 4, 2012 11:58am
Patience really is the key here. I like this system because you know exactly what (and why) you are being patient for.

Had I shorted EURAUD last night I would've lost money almost immediately, specifically a 42 pip loss if I figured the pip numbers correctly.

I will say one thing about this pair setting up so nicely that concerns me...I am very leery of holding a position over the weekend so the trade will need to be profitable tonight and tomorrow - but will it hit the demand level by tomorrow or will it take thru next week to do that?

Thanks tmoney...this system truly does rock!
Attached Image (click to enlarge)
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Everything easy was hard at first
  • #108
  • Oct 4, 2012 12:01pm Oct 4, 2012 12:01pm
Quoting tmoney5474
That is really strange. Try to switch to a 60M chart and back to a 4H. I'm not sure why that is happening.
I tried every possible thing and always with the same results . Are you using the same version for you daily indicator as mine ( I uploaded mine from this thread).
By the way my broker is Ibfx so it could be different brokers could give different results
  • #109
  • Oct 4, 2012 12:03pm Oct 4, 2012 12:03pm
Quoting B737Pilot
hi harar, I have the exact same problem ..not sure why..
Who is your broker ? mine is IBFX
  • #110
  • Oct 4, 2012 12:04pm Oct 4, 2012 12:04pm
Hi tmoney, what timeframe do you use the channels on? I realise it changes according to different time frames and some times you get bullish and bearish on different time frames.
A 1 pip gain is better than a 1 pip loss.
  • #111
  • Oct 4, 2012 12:05pm Oct 4, 2012 12:05pm
BTW, my USDJPY shows a daily UPtrend and a downtrend in the 4 hr. I use IBFX for my broker
Everything easy was hard at first
  • #112
  • Oct 4, 2012 12:09pm Oct 4, 2012 12:09pm
forex.com and FXCM..I thought about it but it cannot be possible ..SHI H4 takes time to switch direction

Quoting harar
Who is your broker ? mine is IBFX
  • #113
  • Oct 4, 2012 12:33pm Oct 4, 2012 12:33pm
So now my 4hrs upper trend line channel move from 1.26744 to 1.26948, what do I do, does this set up is still good, waiting to sell when the candle close below 1.26948 or 1.26744... thx for helping me... Max
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  • #114
  • Oct 4, 2012 12:45pm Oct 4, 2012 12:45pm
I don't know if this helps but what version is everyone using for Metatrader?

I'm using MT4


Sonic SHI Channel MTF settings:

Timeframe = 1440
AllBars = 240


SHI Channel true TRO Modified Version

AllBars = 240


Timeframe:

4 hour chart...I found this to be a problem as I was looking at a 1 hour chart and gave excellent (but WRONG) setups
Everything easy was hard at first
  • #115
  • Oct 4, 2012 1:02pm Oct 4, 2012 1:02pm
NZDJPY is really setting up...next candle is a buy.


This method just takes the guess work out of the equation doesn't it?
Everything easy was hard at first
  • #116
  • Oct 4, 2012 1:12pm Oct 4, 2012 1:12pm
Hi ocd..using MT4 also same settings ..setups valid only on H4 TF of course



Quoting ocd
I don't know if this helps but what version is everyone using for Metatrader?

I'm using MT4


Sonic SHI Channel MTF settings:

Timeframe = 1440
AllBars = 240


SHI Channel true TRO Modified Version

AllBars = 240


Timeframe:

4 hour chart...I found this to be a problem as I was looking at a 1 hour chart and gave excellent (but WRONG) setups
  • #117
  • Oct 4, 2012 1:19pm Oct 4, 2012 1:19pm
Quoting ocd
NZDJPY is really setting up...next candle is a buy.


This method just takes the guess work out of the equation doesn't it?
I don't know if it is me but the rules say that the candle has to close outside of the channel and for me the candle did not close outside, so it is not a valid set up...Just my two cent... Max
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  • #118
  • Oct 4, 2012 1:32pm Oct 4, 2012 1:32pm
Now that's kind of screwy isn't it? Mine shows a close below the line...here's the chart.

NZDJPY...4 hr chart
Attached Image (click to enlarge)
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Everything easy was hard at first
  • #119
  • Oct 4, 2012 1:50pm Oct 4, 2012 1:50pm
The charts works fine.
Attached Image(s) (click to enlarge)
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  • #120
  • Oct 4, 2012 1:55pm Oct 4, 2012 1:55pm
Day b4 NFP ..crazy day.. no real patterns ..no direction atm
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