Ubi maior minor cessat
Cable Update (GBPUSD)
- #452,524
- May 11, 2017 8:39am May 11, 2017 8:39am
- Joined Apr 2017 | Status: trying to make money | 3,341 Posts
Don't Worry Be Happy
- #452,525
- May 11, 2017 8:41am May 11, 2017 8:41am
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #452,530
- Edited 1:56pm May 11, 2017 1:33pm | Edited 1:56pm
{quote} How du you manage BB and cpi at once, and what do this reveal? Cheers..
this retracement is where you would be looking for continuation from an area of support of the initial move.
after the initial move outside of the bollingers which i have set to 100/2, apply the CCI which i have set to 20.
in this instance the move was bearish, so i am looking for support for a trade entry and continuation to the downside.
using the CCI i would be looking for a break back over the 0.0000 the 100.0000 or the 200.0000 to the downside as the initial move was bearish, this would be shown by applying horizontal line at the CCI levels over the price area.
So in this trade, it was the 200.0000 level. I applied the horizontal over price at the CCI 200.0000 and wait for price to break low looking for continuation. this horizontal line is now acting as temporary support and i want price to break down through it.
If using stops your win loss is secured for compounding this strategy avoiding to many entrys and excepting that this is the level to be used instead of forcing non existing levels for entries in desperation in whip saw market.
For this particular strategy if price is not breaking the horizontal at that exact level do not enter anywhere else in the market, and when entering use common sense, if the RR win loss is shit, dont be an idiot and enter a trade, at very minimum a 1 to 1.
Your stop would be placed just above the most recent high prior to the break low to include spread
I personally do not use stops much to horror of many traders here because i do not take trade unless i am sure, so i hedge if need be, BUT never the less this is an excellent trade entry with excellent RR for using stops and compounding.
Take profit would be half or 1/3rd at previous low and the either apply break even and wait for break of a trend line of the down move or perhaps a trailing stop.
there are of course a huge amount of ways of using the CCI, but applying it for support can help eliminate to many failed entries and increase your chances of success in trading.
I hope i have helped you.
FREEDOM IS SECURITY.
- #452,531
- May 11, 2017 2:19pm May 11, 2017 2:19pm
- Joined Apr 2011 | Status: Trader | 2,421 Posts
{quote} the idea for this particular strategy using the cci and bollingers is to use the CCI to look for support after a strong move where price has penetrated outside of the bollinger bands and retraced. this retracement is where you would be looking for continuation from an area of support of the initial move. after the initial move outside of the bollingers which i have set to 100/2, apply the CCI which i have set to 20. in this instance the move was bearish, so i am looking for support for a trade entry and continuation to the downside. using...
- #452,537
- May 11, 2017 6:26pm May 11, 2017 6:26pm
- Joined Mar 2016 | Status: Trader | 6,378 Posts
{quote} the idea for this particular strategy using the cci and bollingers is to use the CCI to look for support after a strong move where price has penetrated outside of the bollinger bands and retraced. this retracement is where you would be looking for continuation from an area of support of the initial move. after the initial move outside of the bollingers which i have set to 100/2, apply the CCI which i have set to 20.
- #452,539
- May 11, 2017 7:29pm May 11, 2017 7:29pm
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Come with me if you want to live....
