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Alien's Extraterrestrial Visual Systems

  • #16,841
  • Nov 21, 2016 6:52am Nov 21, 2016 6:52am
Revisiting Alien principles but this time from the higher TFs as has been just recently brought up. Took this on Demo as an A/U long for a win. DDS was plastered at bottom on A/U on H1. Didn't take it precisely at the red vertical line (took it 2 hours later) but it showed strong probability of turning up, which it did. Any other suggestions on other factors to be on the lookout for?

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  • #16,842
  • Edited 8:01am Nov 21, 2016 7:18am | Edited 8:01am
Quoting san99
Revisiting Alien principles but this time from the higher TFs as has been just recently brought up. Took this on Demo as an A/U long for a win. DDS was plastered at bottom on A/U on H1. Didn't take it precisely at the red vertical line (took it 2 hours later) but it showed strong probability of turning up, which it did. Any other suggestions on other factors to be on the lookout for? {image}
Hello,
just my two cents,
i think its a bit risky as the ADXes 89 and 144 have not turned down yet arround the entry point.
I have not looked at MTF but cant see any divergence either.
  • #16,843
  • Nov 21, 2016 8:07am Nov 21, 2016 8:07am
Quoting Sparkoz
{quote} being patient enough to wait and sit on your surfboard is the toughest skill to get right.... When I have time to trade I want to trade .....but this can take out all your gains if your not careful
So true - been there & done that, will probably do it again too, hopefully a bit less lol
  • #16,844
  • Nov 21, 2016 8:32am Nov 21, 2016 8:32am
Quoting forexalien
I need to find the time to come back here....................... Shouldn't I ? {image}
But he did not return. I hope he have not crashed
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  • #16,845
  • Nov 21, 2016 10:06am Nov 21, 2016 10:06am
Quoting san99
Revisiting Alien principles but this time from the higher TFs as has been just recently brought up. Took this on Demo as an A/U long for a win. DDS was plastered at bottom on A/U on H1. Didn't take it precisely at the red vertical line (took it 2 hours later) but it showed strong probability of turning up, which it did. Any other suggestions on other factors to be on the lookout for? {image}
Hi San99,
I was in on AU and exited just before it turned long. Generally in my view AU is trending short and you entered long which is counter trend entry. I personally don't prefer entering against the trend because price can turn quickly against me on a stronger trend scenario.
In fact i'm currently waiting to re-enter short on AU if alien system signals so. Looking at H4 - looks like 8,3,3 shows that its a retracement - maybe a minor retracement because the ADX 42 has not turned down yet.

Just my view.

green pips always
  • #16,846
  • Nov 21, 2016 2:05pm Nov 21, 2016 2:05pm
Quoting dbsys
{quote} jp, marco and the others. How do you determine that setup has good risk reward? For example lets take H1 ds trade. It can go 20 pips and turn against, 30 pips,40,50, 60 and more how you choose your stop loss levels? thank you fxlocator for you example TradeFinder can you show more examples of your approach, i'm not sure if i get it right. Maybe you can show it on UJ H1 last DS trade with some kind of x cross. How would you trade it? this part - trade management and money management,...
Since no one replied to you, i will give a shot.
A setup that has a good risk/reward ratio is a setup that is far away from a resistance/support level (a strong one).
In this way,we attempt to take a trade in the hope that price will travel to that level (which will get far away from your entry,having a chance to BE).
Thus,you place the SL around a significant high/low that you see will hold.
DS setups are formed at wave 2 and wave 4.
If we take at the ending of wave 2,we have higher chances that we will get out in profit on wave 3.
While wave 4,it is not the same. Wave 5 sometimes cannot exceed the high/low of wave 3,thus if we don't enter properly,we will lose on this one.
Take a look at USDCAD monthly tf.
We have better reward going short here but it's not the best risk since this pair is in uptrend.
At weekly tf,i was hoping for some DS short but price continued to go up,invalidating the setup.
So now i'm looking to go long on this pair as soon i see a DS long on daily tf or weekly.
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  • #16,847
  • Nov 21, 2016 2:58pm Nov 21, 2016 2:58pm
I'm sorry, I missed this question totally. We have a big event on Wednesday that is time consuming at the minute. After then I will have time to do some examples to explain
  • #16,848
  • Nov 21, 2016 9:45pm Nov 21, 2016 9:45pm
Quoting fxlocator
{quote} Hi San99, I was in on AU and exited just before it turned long. Generally in my view AU is trending short and you entered long which is counter trend entry. I personally don't prefer entering against the trend because price can turn quickly against me on a stronger trend scenario. In fact i'm currently waiting to re-enter short on AU if alien system signals so. Looking at H4 - looks like 8,3,3 shows that its a retracement - maybe a minor retracement because the ADX 42 has not turned down yet. Just my view. green pips always
Thanks Tetulla & FxLocator. Tetulla - good reminder on paying attention to ADX. That along with the stochs I still am piecing together as part of the overall Alien view. FxLocator - absolutely right that I was looking at going in on a counter trend. I am biased towards these but am working to take advantage of simply riding trend. At the higher TFs easier to see the overall trend and A/U had been down. Although at H4 the DDS was at absolute bottom and by time of trade stoch had also sharply turned upward, but these are just more pieces of the whole view that supported a long at that point.
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  • #16,849
  • Nov 22, 2016 10:31am Nov 22, 2016 10:31am
AudNzd looks like a weekly xcross might be starting ... I'll wait for a clearer turn on the stoch though first and then get in....
Might be good will watch it for now ,,,
  • #16,850
  • Nov 22, 2016 3:43pm Nov 22, 2016 3:43pm
Quoting Sparkoz
AudNzd looks like a weekly xcross might be starting ... I'll wait for a clearer turn on the stoch though first and then get in.... Might be good will watch it for now ,,,
Seems like it could go either way at the moment.

You see it going long when the 8 Sto rises again?
  • #16,851
  • Nov 23, 2016 1:09pm Nov 23, 2016 1:09pm
Quoting marcof91
{quote} Since no one replied to you, i will give a shot. A setup that has a good risk/reward ratio is a setup that is far away from a resistance/support level (a strong one). In this way,we attempt to take a trade in the hope that price will travel to that level (which will get far away from your entry,having a chance to BE). Thus,you place the SL around a significant high/low that you see will hold. DS setups are formed at wave 2 and wave 4. If we take at the ending of wave 2,we have higher chances that we will get out in profit on wave 3. While...
Thank you, MARCO! As always very good explanation.
  • #16,852
  • Nov 24, 2016 7:38am Nov 24, 2016 7:38am
Is this a Valid buy ..Eventhough 4h,1h and 30 min are topping??
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  • #16,853
  • Edited 11:53am Nov 24, 2016 7:54am | Edited 11:53am
Quoting shoen123
Is this a Valid buy ..Eventhough 4h,1h and 30 min are topping?? {image} {image} {image} {image}
Not The Best But you'll go in profit as this is a trending pair. Remember that after a DS There is always a retrace And Next DS Will be on a Lower TF.
This is when MTF Comes into play.
P.S. If you see in your charts first there was the DS on H1, then the DS on M 30 and on M15 the DS was completing.
Now after the Ds on M5 and M1 the cycle up will be completed.
Per aspera ad astra
  • #16,854
  • Nov 24, 2016 9:17am Nov 24, 2016 9:17am
Quoting Zimbinga
{quote} Seems like it could go either way at the moment. You see it going long when the 8 Sto rises again?
Ha....Its still going up ....!
I'm not the best at counting....
I Think as this has reached the long side we can count it as wave 1...I try and see the three waves
inside it .... Which looks like they are there ...So soon it should go back down on wave 2 .....
I'll mark the golden fib areas on my chart 50& 61.8 and see how price reacts around there ...

This right legends of the thread ?
  • #16,855
  • Nov 25, 2016 12:43am Nov 25, 2016 12:43am
Quoting jpadvisor
{quote} P.S. If you see in your charts first there was the DS on H1, then the DS on M 30 and on M15 the DS was completing. Now after the Ds on M5 and M1 the cycle up will be completed.

Thank you jpadvisor for the information. It really helps to understand the cycles.

Green pips always
  • #16,856
  • Nov 25, 2016 2:09am Nov 25, 2016 2:09am
Hello There,

A few quick questions as I am revisiting this thread after roughly one year away from it.

1.: Don't you ever worry about buying at overbought and selling at oversold levels? There are many theories that price should turn around from the top of the RSIOMA or the stochastic. I have experienced both, as the RSIOMA sometimes stays above in extremes for a longer trend, but sometimes 75% of the move happens as the RSIOMA get the other side of 50 and to extreme levels.

2.: How does MTF analysis work with exits? I've started to get the grasp of entries using MTF more as a filter than to understand the cycles as part of a bigger structure. For me it was too confusing, but it will come in time. Using it as a filter is easier for the time being with entries, but exits are completely different. If I exit on an RSIOMA/Sto turn or wait for ADX 144 to drop, then I need price action to go against me. If I see this signal on the lower TFs, it still won't be showing on the higher ones. I need PA to go against me on the higher TFs to get a full exit signal and to be sure this isn't just a retracement. Now unless I enter right at the beginning of a higher TF trend, waiting for a higher TF exit signal takes away most my profits. Currently I trail positions and its working okay, but I'm curious about your two cents on this matter.

Many pips,
Peter
  • #16,857
  • Nov 25, 2016 11:21am Nov 25, 2016 11:21am
Quoting Sparkoz
{quote} Ha....Its still going up ....! I'm not the best at counting.... I Think as this has reached the long side we can count it as wave 1...I try and see the three waves inside it .... Which looks like they are there ...So soon it should go back down on wave 2 ..... I'll mark the golden fib areas on my chart 50& 61.8 and see how price reacts around there ... This right legends of the thread ?
Bounced off the 38.2 ....But still more to go I reckon ....
Marco on one of your old posts you show a 3 wave cycle within a wave;
and said it goes for all waves ....But is that true for a wave 2 and wave 4 or is their just two there .....
  • #16,858
  • Nov 25, 2016 11:34am Nov 25, 2016 11:34am
Quoting Sparkoz
{quote} Bounced off the 38.2 ....But still more to go I reckon .... Marco on one of your old posts you show a 3 wave cycle within a wave; and said it goes for all waves ....But is that true for a wave 2 and wave 4 or is their just two there .....
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Aha sorry found your explanation ....
  • #16,859
  • Nov 25, 2016 1:07pm Nov 25, 2016 1:07pm
Quoting Sparkoz
{quote} {image} Aha sorry found your explanation ....
That's it. Every impulse wave has 5 sub waves (this means 5 waves on the lower tf ).
As for the retracement waves,they are a little bit sketchy.
http://www.topratedforexbrokers.com/...rective-waves/
Work smarter,not harder
  • #16,860
  • Nov 26, 2016 3:05am Nov 26, 2016 3:05am
Quoting peterwest
Hello There, A few quick questions as I am revisiting this thread after roughly one year away from it. 1.: Don't you ever worry about buying at overbought and selling at oversold levels? There are many theories that price should turn around from the top of the RSIOMA or the stochastic. I have experienced both, as the RSIOMA sometimes stays above in extremes for a longer trend, but sometimes 75% of the move happens as the RSIOMA get the other side of 50 and to extreme levels. 2.: How does MTF analysis work with exits? I've started to get the grasp...
Everything Depends On How Hard Money is Hitting Which Direction........ system was build in 2013...... Drastic number of machines are now in game.
i do trade only on lower tfs 1M-5M-15M, rarely watch h4 and higher...... according to me Elliot waves no longer works because of high frequency trades and aggressive MM....... exceptions are very trendy pairs, still you can see 5,6,7,8,9,10,11,12,13 impulse waves.

Don't you ever worry about buying at overbought and selling at oversold levels?
MM and hft machines dont even care of your indicator oversold and overbought ..... stoch and rsioma can stay in OB or OS as long as 1 lower tf is supporting in same direction........

How does MTF analysis work with exits?
hahahaha according to elliot wave principle with mtf you should pinpoint your exact exit level but in reality you know by this way no 1 can without giving few pips back....... stoch shows expectation of direction to trade but it can change because of lower tfs...... if you want mtf exit then use few lower and 1 higher tf turn opposite from your trading tf.......... trailing stop is nice, try using 1 entry and multiple exits at fix levels tp is always good for ranging period.

stoch only shows chances of direction market will move but remember it can turn on a dime when not trending.
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