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The 10XROI System - A High "R" Factor Approach

  • #141
  • Dec 10, 2013 6:27am Dec 10, 2013 6:27am
GBPCAD - push /pull on the daily after breakout of upward channel with a parabolic move so MA's nicely separated. On the hourly price is still a way from retracing to the candle 1 close (green dashed line), but if it does then it would line up nicely with the top of the old channel, and also the new upward trendline?

Daily:
Attached Image (click to enlarge)
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H1:
Attached Image (click to enlarge)
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  • #142
  • Edited 2:43pm Dec 13, 2013 1:56pm | Edited 2:43pm
I'm watching the EURAUD on this possible setup:

Attached Image (click to enlarge)
Click to Enlarge Name: euraudm-d1-ibfx-inc.png Size: 72 KB

http://www.mql5.com/en/charts/117290...dm-d1-ibfx-inc

Momentum push out of consolidation area in an uptrend. Major monthly/yearly support area coming up, but I think there's room for a 10R trade if you get an entry at the 1.5237 area.
  • #143
  • Dec 17, 2013 4:48am Dec 17, 2013 4:48am
Does this system work in nymex ?
  • #144
  • Dec 17, 2013 2:00pm Dec 17, 2013 2:00pm
Quoting don555
Does this system work in nymex ?
To my knowledge, it has not been tested on anything other than Forex. However, my best guess is that it should not be any different for other instruments since the method utilizes daily candle patterns in an overall context of momentum. These patterns and contexts are likely to show on anything that is charted on a price/time graph. As always, even on FX, you would need to fully test this method for yourself before risking money you can't afford to lose.
  • #145
  • Edited Dec 18, 2013 8:01am Dec 17, 2013 11:51pm | Edited Dec 18, 2013 8:01am
Quoting shandy
{quote} Hi Kible, there's a couple of glitches in what you say here based on my understanding - we don't look for a trade until bar 3 has closed, at the close of bar 1. I haven't seen any potential trades for a few days now, anyone else?
I surely missed correcting this one earlier...sorry!

This is not correct. We do not have to wait for that bar to close...we only need to see the LEVEL being approached/reached before we begin our search on H1.
  • #146
  • Dec 18, 2013 12:56am Dec 18, 2013 12:56am
it looks like a sure-fire way to go friend..it s just that so many opportunities are missed waiting for the entry point to be reached....then again maybe thats what it s all about it...sure-fire
will give it time
thanks for sharing!!
  • #147
  • Dec 19, 2013 8:14am Dec 19, 2013 8:14am
Would we be better to wait until the new year for our signals as the holiday period is now with us.
  • #148
  • Dec 20, 2013 4:56pm Dec 20, 2013 4:56pm
Quoting don555
Would we be better to wait until the new year for our signals as the holiday period is now with us.
Per the system's originator:

"The general view is that one shouldn’t trade during the holidays, however sometimes there can be massive moves during those times, I would say it depends if there are trades to take. I however have stopped trading, will be looking again in early January when there are usually big moves."
  • #149
  • Dec 20, 2013 5:01pm Dec 20, 2013 5:01pm
Quoting stormtrader
it looks like a sure-fire way to go friend..it s just that so many opportunities are missed waiting for the entry point to be reached....then again maybe thats what it s all about it...sure-fire will give it time thanks for sharing!!
Such could also be said about the differences between a scalping system trading M1 versus an H1 system. It is all relative. While nothing in this world is "sure-fire," I think you are right, you're looking for trades that are presenting within a context of solid momentum to carry them on. With signals on daily charts, it is bound to take time for these to setup. So, yes, give it time.
  • #150
  • Dec 21, 2013 4:05am Dec 21, 2013 4:05am
Hi ,

Is this a setup ?
Attached Image
  • #151
  • Dec 21, 2013 10:46am Dec 21, 2013 10:46am
USDCHF 12/20/13, current price 0.8957

Is This a potential USDCHF Push-Pull
Daily candle #3 has retested daily candle #1 closing price
3 SMA pulling away from 10 SMA
Attached Image (click to enlarge)
Click to Enlarge Name: 2013 12 20 USDCHF PushPull.jpg Size: 282 KB
  • #152
  • Dec 21, 2013 10:54am Dec 21, 2013 10:54am
Quoting deanoracer
USDCHF 12/20/13, current price 0.8957 Is This a potential USDCHF Push-Pull Daily candle #3 has retested daily candle #1 closing price 3 SMA pulling away from 10 SMA {image}

It looks similar to the EURUSD setup but in the opposit direction .
  • #153
  • Dec 21, 2013 11:13am Dec 21, 2013 11:13am
Quoting sk2
{quote} It looks similar to the EURUSD setup but in the opposit direction .
EXACTLY. These two often run in a negative correlation with one another. I am watching the EURUSD as well.
  • #154
  • Dec 30, 2013 9:17am Dec 30, 2013 9:17am
Pipskateer,

Thanks so much for starting this thread. I've got a few of the books from the author and it's great to see support from users of FF!
I hope to contribute in the New Year.... thanks again and have a brilliant one!

Vlad
A pip is only worth it if you know how much you risked to earn it
  • #155
  • Dec 30, 2013 10:41am Dec 30, 2013 10:41am
I decided to take a small scalp on EURUSD based on my interpretation of this.

Firstly, my view of the trading entry concept:

Secondly, entry is based on a retrace pattern where Candle(s) that create a breakout or reversal forms the #1 pattern. The #1 closing price acts as a price target for a retracement after Candle(s) create formation #2 which continues the intended momentum's direction. Candle(s) create formation #3 which indicates the required retrace from the market that it is getting on board the move, which seems to converge on the Formation #1 closing price.

EURUSD Daily:

The pin bar is actually Formation 1 and 2 in one bar. The pin was created with an initial spike (formation #1) and the market became certain that it is a bullish move, so price retraced quickly (formation #2) creating the pin. Today's candle then created formation #3 by opening above the #1 close, retraced into it, then reversed back into the confirmed direction.

EURUSD 15M:

The #1 is meant to be the red candle before the #2 breakout candle. Price didn't return to the close, but it did reach #1's high.

I chose the 15M timeframe just to highlight the detail (4 candles) within the 1 hour activity. In a traditional sense, the cluster was an upward pennant waiting for a breakout.

Hoping for thoughts, to see if I'm making valid sense!!
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EURUSD-15M.PNG Size: 16 KB
A pip is only worth it if you know how much you risked to earn it
  • #156
  • Dec 31, 2013 6:01am Dec 31, 2013 6:01am
Thank you so much for evaluating that for me.
Yes, as the trade panned out, it wasn't a good one and what you said on the blog is spot on.

Back to the drawing board for me... but I am determined to incorporate this method into mine as the concept is very sound.

Happy New Year!
A pip is only worth it if you know how much you risked to earn it
  • #157
  • Jan 10, 2014 6:38am Jan 10, 2014 6:38am
EURUSD - how does this look for a Push / Pull formation, context is it has broken out of the previous upward channel and previous Support has now turned Resistance, the re-test of which produced the 1,2,3 candle formation. And 1hr looked to have produced a nice bearish engulfing bar right at the 1.3615 trigger line?

Attached Image (click to enlarge)
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  • #158
  • Jan 16, 2014 7:37pm Jan 16, 2014 7:37pm
Hey all...

Nice thread and idea. Seems like its died down quite a bit though.
Thought I'd post a chart to see if it would stir some critiques...
This is one I noticed from a few days ago.
Nice break with momentum from a long term trend. Price riding the 3sma.

Attached Image (click to enlarge)
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And here's a nice entry on the H1. Break and retest of trendline with a nice tight s/l

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  • #159
  • Jan 17, 2014 3:40am Jan 17, 2014 3:40am
Quoting spyderman
Hey all... Nice thread and idea. Seems like its died down quite a bit though. Thought I'd post a chart to see if it would stir some critiques... This is one I noticed from a few days ago. Nice break with momentum from a long term trend. Price riding the 3sma. {image} And here's a nice entry on the H1. Break and retest of trendline with a nice tight s/l {image}
Hi, what pair is your chart ?
  • #160
  • Jan 17, 2014 5:16am Jan 17, 2014 5:16am
USDCHF - as per Spyderman's previous post, the looks to be a push-pull after Daily trendline break. There was I think also a previous push-pull formation after the 1st break of the TL, which would have triggered based on 1hr trendline break and be quite nicely in profit by now, and this is a second break of the Daily TL. And it looks like the trade just triggered on the last hourly bar after a hourly trendline break again. 20 pip SL, and lots of room (>300 pips) up to the next weekly trendline.

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