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Mouteki Trading

Quoting Jordan Grecco
Hi there,

I guess you missed my question on the chart that you posted. If you could please refer to post #382 I would appreciate it. Thanks!

Jordan

Sorry for missing that question...The indicator that I use automatically calculates what the verticle line calculates when you do it manually. But using that char this is where i expect the verticle line to actually be:
http://img180.imageshack.us/img180/8...rtpost2mj9.gif
Nothing is hard, some things just take more time and discipline.
Hey Zuke,

Is that a Re-Entry into a Short Position? Post # 391

Looks to me from your chart that the Short should have been entered at ~ 1.2760 {Open of 2 bars previous}

Just an observation.
Quoting mono
UTD = Upper Trendline Reference Points
LTD = Lower Trendline Reference Points
UTD_Line = where the Upper TD (Trendline) was broken or where the TD is now
T1 = target price
LTD_Line = where the Lower TD (Trendline) was broken or where the TD is now
T1 = target price

Disregard the rest.

This indicator needs to be confirmed by Mouteki that its calculating correctly
Another question, or observation, about your indicator.

Isn't the supply line, or upper trend line prematurely moving? Shouldn't it wait to pick the second point until it has two lower highs - that have closed - on either side of it?
Attached Image
Currently looking at a setup on the eur/jpy. If the 8 pm candle opens below the current demand line a sell will be initiated with a 102 pip profit projection.

http://img106.imageshack.us/img106/4593/cg117qf2.png
102 pips captured last night on the pound. Classic setup...Enjoy...

http://img119.imageshack.us/img119/2903/cg118sk4.png
looks good to me too, anyone have any ideas for a possible stop placement?
If the next candle opens below the demand line I will place my stops @ 149.85... I know a lot of people are awaiting my stop placement method, I am currently working on putting this info together.

http://img140.imageshack.us/img140/9616/cg119aw6.png
My plea to everyone...Patience, I will release my stop method technique as well as much more info on the system. Please don't start posting your own assumptions on how to place stops on my method after the quick stop suggestion I posted, this was a quick post to enlighten the stop method.
thanks a bunch moutekitrader, your info is wonderful
I have a question about the step where we put the vertical lin thru the highest high and lowest low-

Do you use the highest high or lowest low that is in between the 2 points u use for the trend line? or you can still use the highest high that appears after point 1. Because some of my highest highs have been after my 1st (right side) point.
Quoting PeterFM
Please note, this is just passing on the wisdom of one of the most respected traders on this forum, it is not designed as advice to trade, or not to trade. This must always be your decision.
This trader never opens new positions during the Asian sessions, although he will leave existing trades running. I would suggest that if you're on a demo account you trade if you feel a good set-up is arising, but keep a record of how the trade went. Remember there are very low volumes during these early sessions and may not reflect the true strength of interest in the pair you are looking at.
There is a lot of positioning by organisations, in order to take advantage of the European & US sessions, so these movements can be deceptive.
I forget the actual percentages, but the European session has the largest volume of trade, far ahead of even the US session, so if it suits your time zone, it may be better to wait for the main markets to open.
Another consideration is that these low volumes add additional time when your money is tied up and if a better trading opportunity appears, you may have to close a losing position to release funds, or add to your existing risk.
At the end of the day, it's up to you. But be selective and maybe look at some of the JPY crosses to test on demo during these hours.
Peter
Thank you Peter. I think I know who never opens positions on Asian Vegas, right?
I'll take your advise!
anyone else shorting the eur/yen?
Quoting allen.benjamin
anyone else shorting the eur/yen?
Not yet. Waiting for the candle's close.
Quoting moutekitrader
102 pips captured last night on the pound. Classic setup...Enjoy...
Got 80 pips. Letting 1/3 position ride.

Jim
Indicators show the past. Price Action "Indicates" the future.
Quoting allen.benjamin
anyone else shorting the eur/yen?

I took the USD/JPY trade.
Shorting EUR/JPY
Hi folks! I was comapring the chart for EURJPY that MoutekiTrader posted in post 406. It is similar to the one created my the EA, but the profit potentials are calculated different and the lines are a bit off. Just curious if anyone else is using the EA and if it matches or their thoughts.

Thanks!
Believe and Achieve!
I shorting EJ too - looks like a good setup.
:waiting:
Quoting sirwolf
Hi folks! I was comapring the chart for EURJPY that MoutekiTrader posted in post 406. It is similar to the one created my the EA, but the profit potentials are calculated different and the lines are a bit off. Just curious if anyone else is using the EA and if it matches or their thoughts.

Thanks!
Well, thoughts do match but the beauty of the indicator is that it can alert you when a line is broken and can tell you also where it could break so you can set an alert or so and it also draws the lines for you which is a great help. But the rest you need to do it manualy.
Hi Mouteki.

I need to make a question to you. What is your charting software?
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