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A very simple system - trade with arrow

  • #2,121
  • Apr 26, 2017 11:01am Apr 26, 2017 11:01am
Quoting antonym
{quote} Hi Lookleft, For the AUDUSD and NZDUSD sell trade, I see that you entered when price seems to be in consolidation. Are you expecting that the consolidation would break out to the down side? Could you explain a bit more? Thank you.
Hi antonym,
Yes as I couldn't see any strong S/R in those areas and both H4 and D1 was showing big downward momentum on both pairs. When price consolidated I noticed there was more rejections to the upside so I felt price would continue down after it had a little 'rest'. The big spike on the aussie was a bit scary but confirmed my thoughts.
I always look carefully at consolidation and see which side is showing the most wicks and prepare to trade the other way if it is in the direction of the trend.
Hope that helps
Never argue with a fool; onlookers may not be able to tell the difference.
  • #2,122
  • Apr 26, 2017 11:24am Apr 26, 2017 11:24am
Quoting Lookleft
{quote} Hi antonym, Yes as I couldn't see any strong S/R in those areas and both H4 and D1 was showing big downward momentum on both pairs. When price consolidated I noticed there was more rejections to the upside so I felt price would continue down after it had a little 'rest'. The big spike on the aussie was a bit scary but confirmed my thoughts. I always look carefully at consolidation and see which side is showing the most wicks and prepare to trade the other way if it is in the direction of the trend. Hope that helps
I see. Thank you for the explanation.
  • #2,123
  • Apr 26, 2017 9:34pm Apr 26, 2017 9:34pm
Quoting pips29
{quote} Is it possible to make one using the 14 cci so that I can have both displayed one top of the other..if it's possible can you post them here both the 14 and 50 cci for others to share
Hi Pips,
I have attached txt doc as I do not know how to upload mq4 or exe files.
You will need to compile it then add to your charts twice with 50 and 14 settings.

If there are any coders here maybe they could help out with a CCI 50 - 14 tape indicator ;-)
Attached File(s)
File Type: txt CCI Zero Cross.mq4-5.txt   2 KB | 419 downloads
Your trade order needs to be in the right place at the right time.
  • #2,124
  • Apr 27, 2017 3:34am Apr 27, 2017 3:34am
Quoting Islandfx911
{quote} Hi Pips, I have attached txt doc as I do not know how to upload mq4 or exe files. You will need to compile it then add to your charts twice with 50 and 14 settings. If there are any coders here maybe they could help out with a CCI 50 - 14 tape indicator ;-) {file}
thanks Rob but I don't know how to compile it whatever that means...anyway not to worry
the cautious seldom err....C
  • #2,125
  • Apr 27, 2017 4:31am Apr 27, 2017 4:31am
Quoting pips29
{quote} thanks Rob but I don't know how to compile it whatever that means...anyway not to worry
Hi pips29,

I can help compile it. Please see attached the MT4 indicator.
Attached File(s)
File Type: ex4 CCI Zero Cross 50.ex4   8 KB | 375 downloads
File Type: ex4 CCI Zero Cross 14.ex4   8 KB | 314 downloads
File Type: mq4 CCI Zero Cross 14.mq4   2 KB | 378 downloads
File Type: mq4 CCI Zero Cross 50.mq4   2 KB | 419 downloads
  • #2,126
  • Apr 27, 2017 4:35am Apr 27, 2017 4:35am
taken this short in line with the htf using the 15 min chart ..let's see
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDM15.png Size: 54 KB
the cautious seldom err....C
  • #2,127
  • Apr 27, 2017 4:47am Apr 27, 2017 4:47am
Quoting antonym
{quote} Hi pips29, I can help compile it. Please see attached the MT4 indicator. {file} {file} {file} {file}
thank you very much antonym..I now have it on the chart..Now, the question is which do you prefer, the one with the lines and values shown or the histogram which shows by a change of colour like most histograms do?
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDM15.png Size: 55 KB
the cautious seldom err....C
  • #2,128
  • Apr 27, 2017 5:06am Apr 27, 2017 5:06am
Quoting pips29
{quote} thank you very much antonym..I now have it on the chart..Now, the question is which do you prefer, the one with the lines and values shown or the histogram which shows by a change of colour like most histograms do? {image}
Personally I think both are fine, although I know that the line version is more informative as one can anticipate the cross based on the CCI readings being decreasing or increasing towards zero. But I actually don't really understand why asking this question.

Btw would it be possible to explain the role of CCI, can I summarize the rule for with-trend trade as follow?

- price above H1 and H4 34ema
- 10 ema above 34ema on H1 and H4
- CCI 14 and CCI 50 cross above 0 on M15

Are there any redundancy in these rules?
  • #2,129
  • Apr 27, 2017 5:21am Apr 27, 2017 5:21am
Quoting antonym
{quote} Personally I think both are fine, although I know that the line version is more informative as one can anticipate the cross based on the CCI readings being decreasing or increasing towards zero. But I actually don't really understand why asking this question. Btw would it be possible to explain the role of CCI, can I summarize the rule for with-trend trade as follow? - price above H1 and H4 34ema - 10 ema above 34ema on H1 and H4 - CCI 14 and CCI 50 cross above 0 on M15 Are there any redundancy in these rules?
on the 4 hour when 10 is above the 34, we look for long
on the 1 hour when 10 is above the 34, we look for long
this means the trend is up and we look for entries using the 15 min and the reverse for shorts..as I am using the cci to time my entries it is important to see the levels and so a histogram is of no use to me..if you are not using the cci for entry then the histogram would be of benefit...that's the difference I want to point out..Rob/Island uses the tdi for entry and so do not rely too much on the cci
the cautious seldom err....C
  • #2,130
  • Apr 27, 2017 5:31am Apr 27, 2017 5:31am
I will show you an example using e/g from 240min -15 min...think about it and figure out what you should do or should have done...if you are able to figure out you will make fewer mistakes...we all make mistakes and the fewer we make the better we get
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBPH4.png Size: 51 KB
Click to Enlarge Name: EURGBPH1.png Size: 53 KB
Click to Enlarge Name: EURGBPM15.png Size: 49 KB
the cautious seldom err....C
  • #2,131
  • Apr 27, 2017 6:08am Apr 27, 2017 6:08am
Just closed the last of the AUDUSD trade as Super Mario is doing the ECB thing soon and played safe.
Closed 75% of trade last night for 75 pips and the rest just now for 60 pips as price wasn't going anywhere.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 39 KB

Kiwi trade is still running as it looks like there is some more down side in it. Closed 75% of it last night for 70 pips. Will be watching it carefully.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #2,132
  • Apr 27, 2017 6:18am Apr 27, 2017 6:18am
Quoting pips29
I will show you an example using e/g from 240min -15 min...think about it and figure out what you should do or should have done...if you are able to figure out you will make fewer mistakes...we all make mistakes and the fewer we make the better we get {image} {image} {image}
My understanding is I should have sell at the cricled area on the M15 chart because that's when H1 has 10 and 34 cross down, and at around the circled area on H1 because that's when H4 has 10 and 34 cross up.

Please correct me if I understand wrongly. Thank you.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBPM15.png Size: 53 KB
Click to Enlarge Name: EURGBPH1.png Size: 56 KB
  • #2,133
  • Apr 27, 2017 6:59am Apr 27, 2017 6:59am
Quoting pips29
{quote} thank you very much antonym..I now have it on the chart..Now, the question is which do you prefer, the one with the lines and values shown or the histogram which shows by a change of colour like most histograms do? {image}
trade closed..thought it would be nice to bank in some pips
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDM15.png Size: 54 KB
the cautious seldom err....C
  • #2,134
  • Apr 27, 2017 7:07am Apr 27, 2017 7:07am
after checking out with the kiwi I went in short on the aussie..if I had seen LL's post I might have second thoughts ...anyway, I see more downside on the aussie
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM15.png Size: 55 KB
the cautious seldom err....C
  • #2,135
  • Apr 27, 2017 7:18am Apr 27, 2017 7:18am
All done with the kiwi. Closed when price got back to the same level as last night and US data is due.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 40 KB
Never argue with a fool; onlookers may not be able to tell the difference.
  • #2,136
  • Apr 27, 2017 7:22am Apr 27, 2017 7:22am
Quoting Lookleft
All done with the kiwi. Closed when price got back to the same level as last night and US data is due. {image}
well done ,that was my target from the time of entry but decided to just move the stop lower leaving the target aside. I got bored and green pips was on my mind since morning and all this push me to check out, and having no trade to look forward to, I took the aussie going along with the trend
the cautious seldom err....C
  • #2,137
  • Apr 27, 2017 8:46am Apr 27, 2017 8:46am
I am locking in at b/e+...I am feeling tired, either I take a nap or go for a walk...bbl
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM15.png Size: 56 KB
the cautious seldom err....C
  • #2,138
  • Apr 27, 2017 8:57am Apr 27, 2017 8:57am
Quoting pips29
after checking out with the kiwi I went in short on the aussie..if I had seen LL's post I might have second thoughts ...anyway, I see more downside on the aussie {image}
Hi pips29,

I see that AUD just dropped further down. Any reason that you see more downside on this pair? Is it due to the break of the 0.7475 level so there are a lot of free space to fall?

Also would you mind take a look at my earlier responses to the EURGBP example. I am not sure if I understand it correctly.

Thank you.
  • #2,139
  • Apr 27, 2017 9:43am Apr 27, 2017 9:43am
Missed out on the AU trade but managed a long on UCAD for +42.
Attached Image (click to enlarge)
Click to Enlarge Name: UC 27 4 17 .png Size: 60 KB
Your trade order needs to be in the right place at the right time.
  • #2,140
  • Apr 27, 2017 10:42am Apr 27, 2017 10:42am
Quoting pips29
I am locking in at b/e+...I am feeling tired, either I take a nap or go for a walk...bbl {image}
I chose the former and had a lie in on the couch which is also my trading table,seat and bed..this trade is still +19 as I type
the cautious seldom err....C
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