onager, according to mouteki's rules you don't, wait for a close, just an open
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Jumper's journal of Mouteki trading 74 replies
Mouteki Trading System 3 replies
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Kalesh's journal of Mouteki Trading 25 replies
Quoting moutekitraderDislikedCurrently 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.pngIgnored
Quoting jarrooDislikedI was talking about the blue demand line. But, at a second look, it doesn't qualify as a demand line due to the two candle on each side rule.Ignored
Quoting summitfxDislikedIt's the DeMark Trend indicator posted in this threadIgnored
Quoting SchpundoolasDislikedI 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.Ignored
Quoting mpotisDislikedMouteki,
I love your system Mouteki, thank you for sharing it with us.
I have a couple of questions regarding your recent post #403.
On your chart you placed the verticle line 6 candles to the left of the end of the chart. The second candle to the left appears to have a higher high recorded for that time period above the demand line. Can you explain your reasoning for this. I am trying to apply your system in accordance with the rules you have provided in that very nice write-up. If you apply the verticle line to the second candle from the end of the chart, the projected price target is vastly different than the one projected for the sixth candle over.
Also, I know you have stated that your system has been optimized for 4 hr charts. Have you tested this system on daily time frames? I have been doing some manual backtesting the last couple of days with this system and if you run the procedure on the recent GBPUSD daily chart, your TL break system nailed the recent drop in the pound/dollar spot on!
MIgnored
Quoting PeterFMDislikedAny high or low point along the drawn supply/demand lines can be used. If you check my earlier post you'll get the answer.
PeterIgnored
Quoting creztorDislikedAnyone notice on the e/u just now the TL was replotted by the indicator, and it counts bars that havent closed yet as part of the 2 candles on either side that are needed to be considered a valid point. I just assumed a candle needed to be closed to be considered a valid part of the 2 candles on either side that are needed. When the line was replotted the short on the e/u vanished as the demand line was lowered slightly. Indicator is great in pointing out possible spots to draw your TL but I think it has its limits?Ignored