Trading Made Simple for Day Charts

Thanks for the feedback David.
400 to 800 pips a months are really great even compared to professional signal providers.
One more thing: Sometimes the "economy" or the news are against our chart analysis. Of course one could be wrong in both news interpretations and analysis. For example this week Nial Fuller is expecting to go long on the cable whereas the data and news are in favor of USD. What would you choose?

Nothing definitive to say GU will go anywhere but down, however, the Day is approaching a strong Demand Zone and is showing a pull back candle today, so watch for a reversal pattern - same comments as AU right now - the 3 amigos are running together and they may all reverse at similar times considering they are all in Oversold territory.

Aud/Nzd looks interesting. TDI cross with signal line pointing in same direction- mid zone line on 32. APB colour change (although body on candle not that strong). ATR 1=73 ATR 7=68. RSI is 46 (close enough to 50?). In a demand zone with supply zone about 175 pips away. Anything that I'm missing that should be putting me off??

Cheers

Mark

Mark,

If it can break and close above the Demand Zone, there is promise in it.

Day has not really done much for a while with gold being depressed for the AUD.

I am still watching and waiting for the AUD PA to pick up pace - the gold bugs will need to go on buying spree though or the Kiwis will have to lose at cricket in the current test series

RSI is still below 50, so the trend change is still getting there.

APB colour change is nice - but a Friday candle always makes me nervous

Ok. A couple more things to add to my checklist. Thanks David

Greetings All,

Been playing around with TDI and seeing what would be possible with a single screen MA approach and de-cluttering the screen. Always looking at options for simplifying the data and the entry criteria.

This closely replicates what the TDI does with the benefit of keeping everything on the main chart - I do have RSI as a second window open for posting the RSI value in my Data screen, so displaying it as a chart is optional, but sort of defeats the objective of the single screen approach -you can always compress it - may work better as a displayed chart on the lower timeframes.

If you backtest, always disable the fractals and be aware that the overall trend of the MAs once set are influenced by where the next candle went, so an F12 test gives you a good idea, but live testing will give different results - personally I prefer looking at the screen to see how to differentiate between good entry signals and ones that stalled out / failed.

The MA crosses are very close to the TDI - usually same candle and does on occasion filter out false TDI crosses, so worth a live experiment for forward testing - you can always add in the TDI to compare as you test.

Looking to continue with the adapted TDI rule where the slower MA has to flatten out and adopt the same direction as the PA - slightly slower entry criteria, but has more probability of success. Looks good on Day and H4, but that would be as low as I would go on timeframes.

The usual rules on the 100/200EMAs apply - see Post #1 - also on candle patterns - engulfing / inside bar / pull back / pin bar / shooting star / hammer, all help support the entry criteria

the arrows are taken from an indicator that I think came from Lawgirl's threads and has been modified for this approach - these are more of a head's up indicator and to verify the pattern / slope of the slow MA and PA. When you see multiple arrows of the same colour, this usually results in a move in the direction indicated. Everything else is from my original charts.

for RSI 10, I am using <49 for shorts and >51 for longs, unless the Day entry is really strong - RSI will lag especially on the Day.

The attached chart is H1 which shows RSI 10 as a valid signal to confirm entries - so with the example on H1, each valid entry and 2 entry positions, would have yielded a total of over 200 pips over a 10 period when PA was pretty much range trading, so trading H1 and M15 is always an option in these conditions

Just in case any of you wanted to test this out - here's the template file and a screenshot of the active indicators

Based on the latest set ups, USD JPY looks interesting for a reversal - All JPY pairs are showing similar patterns

Training Chart on the current EUR/AUD trend for day entry and H4 Add-Ons

another variation on the MA cross theme

as always, lots of options - not all of them have TDI, but whenever I run test sessions, there is little difference in the results. All down to personal preferences and trading styles in the end.

Interpreting the APB colour changes on Day can be challenging.

On the current GU, we have had several single day colour changes - here's how I am looking at them.

First of all, when monitoring the day charts, I will see the colour change at the end of the day, so this means that PA changed during the previous day and changed the colour, so dropping down to H4 and in some cases H1 and looking for confirmation helps me to verify what PA is doing for the next couple of candles. This will be the start of the Asian session, so can be pretty quiet, but is worth doing.

PA breaks of the Asian channel can be very productive, but follow the major trend unless you are scalping the pause / pull back

The H4 chart also gives you Add-On options when you see a new MA cross

Tracking 12 pairs - check the summary chart at the start of each new day candle - look for reversal patterns - fresh APB colour changes - fresh MA crosses - fresh moves away from Support and Demand zones - drill down as appropriate

Looks like this is a set-up that I will run with for the live trading now that I have reformatted everything. Depending on which timeframe I am trading on, that will be the larger chart - the others will vary accordingly

Bank holidays on both sides of the pond on Monday, so volume will be low unless BOJ or ECB do something dramatic.

USD GDP is next week, however NFP does not happen until June 7th, so not on 1st Friday and will catch a lot of people out in 2 weeks!

Test for 2-7MA versus TDI - tried copying a word doc, which is a train wreck with the formatting, so it is attached as a pdf.

Draw your own conclusions

I plan to run this as a live test for the next few months to see how the MA Cross performs in parallel to the TDI - watch this space

Possible signs of current trend losing steam with RSI 10 showing Bearish trend

Woo hoo, EURUSD long from the 22nd finally took out TP 1 and moved stop loss to B/E+

The interesting issue now is;

What to do,
with TP2.

.3210 is the aim
but there could be more to gain

Looking at a weekly test
I can see an H & S

So, should I just let it go.
or set the target as point three five oh?

Or, you could just manage your SL on the H4 and see how far it can run - use the low from a recent fractal or the low for 2 or 3 candles previous to the current candle.