RSS (Ridiculously Simple System)

Zooming out I've seen these patterns before somewhere.



Maybe it will give us a clue as to where price MIGHT go?



Lets see tomorrow.

Wow called it right.

Now around 80 pips in the direction I called it.



Wish id traded it now

Hi Drewas,

Referred to the screenshot below, I traded buy at the second candle bar as the TDI crossed, MACD changed direction and the candle bar changed color after the sun and dot appeared on the previous candle bar.

The question is, I should exit when the candle bar changed color and/or TDI crossed and/or MACD changed direction again?

Can you please share the indicator drawing red/blue support/resistance dots on the graph? Because sometime dots doesn't show up and these lines can be good profit or re-entry targets.

Thanks in advance.

I rather say red/blue dotted lines on the graph.

Thanks.

Hi hoperich,

Here you go...

Thanks so much for your quick response and indicator liewyk.

Happy Trading.

Hi Liewyk,

Sorry for the slow response don't have a lot of time to trade this week.

Looking at your chart I probably would have entered a buy after the sun formation if it weren't for the time of day and/or the small candle sizes.



If I had entered a buy I probably would have lost some pips or broke even at best (price did move 18 pips up before breaking the S&R level to continue down).

You cant win them all but given a sound exit strategy and experience on the charts you can minimise losses when you do lose.

Hi hoprich,

The indicator I use is :-

Great Thanks Drewas for the support/resistance indicator. I will try it soon with your original strategy and post the results.

One trade today.

Entered after sun and held for 103 pips. Exited after TDI green hook and price stalled.

hi drewas
good concepts
i am currently testing on multiple time frames
are you able to tell me if its possible to get rid of the Sonic R System FFCAL Headlines Box?
if so how ?
i follow the news closely so i prefer not to have it there...

Hi Drewas,

I've a bunch of questions here... Hehe... Please do refer to the attached images...

1. AUD/USD - Should I enter a buy trade or wait for the next candle bar to turn blue? The dot and sun is formed, green line is crossing the red line but it is moving downwards and MACD has not yet change direction.

2. EUR/JPY - I've entered a sell trade as the dot and sun is formed where green line is crossing red line as well as MACD changed direction. On the third bar after the dot and sun was formed, it changed to blue bar where the green line seems moving upwards and MACD changed direction, should I exit? I did not exit and I'm losing 70 pips on my demo account.

3. GBP/USD - Should I enter a buy trade or wait for the next candle bar to turn blue? A dot is formed and the green line is crossing red line but is moving downwards as well as the MACD is still under 0.

4. USD/JPY - I've entered a sell trade as the dot and sun is formed (referred to the attached image as the dot and sun keeps on repainting), green line is crossing red line and MACD is changing direction. The question is, the next candle bar after the dot and sun is formed changed from blue bar to red bar (which is good since I'm trading sell trade) but then within the same period, it changed back from red bar to blue bar. Should I hold it or exit this trade? As you can see from the attached image, it keep on repainting after my trade. At the moment I'm still holding it and losing 50 USD on my demo account.

Hope that you can guide me... Thanks a lot Drewas...

Drewas,

Thanks for sharing your system.

It looks like you take both trend & counter trend trades?

Also, what moving averages are you using?

Thanks for your help.

snarlyjack

Hi Snarly,

I do take into account the trend but if I see a strong setup am happy to go against it.

I use 200 EMA, 800 EMA, 100 EMA, 10 EMA and 24 EMA.

Thanks Drewas,

For you quick response this Saturday night (my time).
Nice system by the way, I'll give it a go Monday.

snarlyjack

Just happened to be at my computer. Was 5am UK time.Don't sleep much these days (probably something to do with trading)

Hey Liewk,

Apologies for being slow responding:-

1. No buy for me on that one. TDI has just crossed. MACD is going down and although you have a sun your around US open one of the busiest times so unless your alredy in a sell trade then your waiting for next blue candle close and/or a MACD change of direction and/or a TDI hook.

2. That looks like a trade that's gone against you despite the sun I would have (hoped) to be out before 70 pips against me. One of the hardest things in this games is admitting to yourself that you were wrong and exiting. EUR/JPY moves a lot very quickly so best trade that one with caution.

3 + 4 You've got the dots but nothing to tell me theres a change of direction wait till close of candle and for next to see if there's a valid entry.

Hope that helps .

Classic trade for me today price changed direction at London open and entered sell after Sun and TDI cross.



Held until price hit 200 EMA and stalled with green TDI hook. 45 pips.

Hi Drewas,

May I know why my TDI is different from yours? May I know what is the exact TDI indicator that you use?