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Ok SG, I'm not sure if I understand how best to apply the crossovers in real time, versus scrolling back through the chart, so an annotated chart from you today, tomorrow or next week can't hurt.
Two more questions SG........does a quality answer equate somehow with serving your customers quality roadkill? LOL!!
Forgive me, but I just couldn't help myself. lol....
And on a serious note, my next question is this......are you basically using the fast/slow lines flipping to identify the stages of a change in the trend bias? And can you post an annotated chart at some point today maybe which clarifies these crossovers and points to which you are making in your post, which are a few?
Question SG! I find that after an macd pinch begins, the price can continue in its trend for many candles and small pullbacks disallowing any gainful trades, with or without supposed confirmation from other indis like the trix, stochs, wm%, and my favorite TDI indicator. In other words, the pinch seems to fail along with all the other failed indicators.
I also notice that where the pinch may appear wide as a new candle presents, with price appearing unready for reversal based on the very loose pinch, a reversal can indeed occur immediately with the pinch not appearing to tighten down until some time after the reversal has occured and the trader would have had to chase the price to make gains.
And, I've noticed that a tight bullish pinch may present with the price immediately breaking down bearishly and continuing a downtrend with the pinch still presenting for a fair number of candles and pips before the "bullish" pinch begins to widen finally and the price reversing bullishly finally.
So other than considering wave counting and lines of support/resistance, how can you really nail down a reversal using the macd pinch with some other confirming TA?
And to you Whatever, I also wish everyone here a great 4th of July weekend. Unfortunately here in westen Colorado there's a ban on fireworks due to all the high temp and drought sourced fires in the state. Locally we can't even bbq with coals, it must be with gas only, which I don't care for. It will be just another uneventful day of the year for us here on the western slope of Colorado.
I just closed out a 7 pip short scalp off AU playing off your 8,34 and 89 ema lines on the 1 minute chart SG. I'm not sure I want to stay in long enough to allow the 5 minute chart to offer additional profits.
Somebodies always full of crap when it comes to market manipulation and "official" numbers imo. I don't trust anything in the market anymore since our government began bouying it with taxpayers astro dollars. The only thing I have a degree of trust in is trading off extreme price movements on any given time frame and keeping plenty of dry powder, as pennies2007 puts it, just in case the extremity isn't as extreme as it first appears.
Nope, I'm here SG......watching AU and wishing somebody would post a really good 4 hour chart with wave count and give me a good reason to add to my current short. I'm tempted to here at this revisiting of the top trendline on the 15 minute chart.
Well thanks anyway SG. eom
Does anyone here know how to go about changing their leverage from 20:1 to 50:1 in the Alpari demo charting platform?
No dragon head on the AU 1 hour chart afterall. Looking more like a sea serpent than a dragon to me. lol
Looking at "Jerry's Dragon Pattern" examples, I'm thinking I got it wrong on the previous pics posted. Here's an updated more technically correct annotated chart maybe. Maybe not either, but there's definately a back and rear legs to the pattern and a tail too, but where it hooks is the unanswered question in my mind. Ok, I've had enough for today myself.
I'll be going to bed myself here in a few jav. Reading over my post, it's a little bit of a process to post a chart, but it's not too tough to figure out and get's a bit easier the more you do it. Pennies does it as quick and easy with all his posted charts. I still have to go through it methodically as well as slowly. Good night jav.
Hey jav.....I do see the dragon pattern on that NU chart and it's actually played out as a profitable bottom play for somebody. Not me...lol
Oops.... you beat me to it sdcaalan! lol Maybe between our two posts it'll be easier for him to figure out on first attempt.
I think it's a matter of right clicking over the main chart, then click on "save as picture" and when the save as picture window pops up, click the "active chart(as is)", and then when the windows "Save as" window pops up, make sure "My pictures" is in the "File name:" block and click "Save" just to the right of it.
Then....on simplegreens site click on the drop down menu labeled "More tools" and then click "My Image Gallery" and when that page comes up, click "browse" and when you see the "Choose File to Upload" window pops up, click on the desired pic and then click "open" next to it and you should see your pic come up to the left where if you click on the "embed" block you should be able to copy and paste it to your post.
Hope that helps!
Ok jav......hopefully my post shows my pic.
http://investorshub.advfn.com/uimage/uploads/2012/6/24/grbkmau_dragon_pattern_2.GIF
Yep, haven't we paid our dues yet jav? LOL
I'll see if can throw one up of the AU dragon pattern I'm refering to. No head yet, and the chart is in process of establishing the front legs.
I do love it! LOL It's not the easist way to make money, imo, but it's the most fun to me.
Say jav.....I think I see your dragon pattern on the AU 1 hour and lower charts. It is an interesting pattern and I can see why they identify it with the chinese dragon in appearance. Scrolling back through the AU chart, I don't see it occur very often.
Yes SG......I do agree. I'm going to be very conservative here. I have 1 lot running and think I'll leave an open order to double down at 1.022 to fill whilst I'm redoing the sprinkler system that the moron put in on my property before we moved in. I'll check in, but I've got to get one stage finished here this morning before it gets too dang hot here.
I don't think I'll add after 1.022 until the 30 minute chart hits the outer SDC_ indi deviation line, in event 1.022 doesn't do the job of bringing a pullback.
I was wondering why you weren't on board giving us all entry alerts to good scalps today SG! LOL
Just kidding.....and I'm not doing any better so far on my divergence play on AU this morning off the 5 minute chart, but I'm just sticking with my losing short till I can add at a much improved spot. Looks like most of these pairs are trading near center of the deviation channels to me.
Yes, thanks! I too pulled 30 pips in my demo faux account, but it was a great trade, even if I did'nt really make a nickel from it.
Hey simplegreen. I just closed out the third of four short positions on pennies AUD/CAD at the 30 minute ema34 line. I'm sure seeing how price respects that 30 minute ema34 on the 5 minute chart. I'm going to see if the price won't move lower to your ema89 on the 30 minute chart before moving up higher.
I'm trading demo, but I added to my A/CAD position at the outer deviation channel line (SDC_ indi) as it is also a trendline top off 1 hour candles. My initial position a few pips below the adr high of 1.03568. Just watching and waiting.
Ok, simplegreen.....please check your pm box!
Question SG.......how do you trade off of your EMAs 8,34, and 89 lines? I've placed them on a separate chart to go to but without adding to clutter of other charts. I'm finding that for me, multiple templates help vice putting every indi on one template.
I'll have to look hard at your Standard Deviation Channel. I forgot to mention that I also have a template with two bollinger overlays with one set to a deviation of 1.o and the other set at 2.o for the standard and an outer exreme deviation. Compassfx has a vid on how Dean Malone applies it. I found it worth giving due attention to.
SG.....I've set one of my templates up very close to yours with the macd pinchers. I've got another template that includes your old Trix pincher setup below the macd setup. I've got another template that include the compass ADR which I'm trying to get as familiar with as I can, especially since I paid hard earned for it, and I have another template with your quad tunnel and extreme tunnel on it as well. I picked up a lot over the months on this board thanks to you and pennies predominately but the only thing I haven't quite learned from you guys is how to control my emotions.
During demo trading today I found myself getting in too early based on the strong fear that I may miss out on a good entry and then doubled down and added too soon as well. It's demo so I can walk away with nothing injured but my pride.
SG.....is that a pincher template you are using? Have you posted a chart lately that I can look at?
Hey SG.....pennies has been invaluable here these last couple days getting me reoriented and on my way to being back up to speed. I've got an Alpari MT4 platform up and running since the FXCM platform didn't want to give me an accurate read from my ADR indi.
I'll trade through Oanda once I fund my account as they have fairly low spread rates. While googleing brokers, I found that there are a couple/few with lower fixed rates, but I don't have any feedback from account holders to say whether the other brokers are reliable or not, so I'm sticking for now with Oandas variable but competitive spread rates.
I'm still shaky when it comes to lot sizes and risk, but again pennies is orienting me. It's not rocket science, but it's not second nature either. A bit of a slow process getting comfortable with the numbers.
SG......you are a most generous man and your roadkill is beyond compare! At least that's what pennies tells me. hahaha.....
Simplegreen! It does kinda feel like I'm returning home. I ran away because I was depressed about not making enough money fast enough. But I'm back and determined yes. I did miss the comraderie for sure. And it's good to see that nothings changed here......good sense, respect of the risk, good information, honesty and a good bit of light hearted fun occasionally. Thanks for all SG. It's a great place to be! Say....you ought to give pennies a raise for all his hard work and excellent assitance he offers selflessly to newcomers. If only I could get him to trade my account for me. LOL
sdcaalan......my story was that I did extremely well at plugging away at consistant gains daily and weekly for approximately half a year, carrying little to no losses, but because I was trading with only a few hundred in my account and less than the $10,000 or so needed to show good dollar gains with the good percentage gains, I became frustrated.
SO, I changed my strategy and became more reckless, taking higher risk percentage wise in my account and with the change of strategy came an adoption of poor strategy which wiped out half of the gains I had accumulated in the 6 months lost in less than 3 months. After another couple months of gains pretty much matching losses, I no longer trusted my myself and therefore felt more like I was playing the slots in a tight casino and I lost my enthusiasm. It became more of a depressing unobtainable challenge to get where I wanted to be than a skilled winning game because I didn't want to go back to the sound winning methods which were consistant gains but too slow and too small and thus drudgery, but I didn't want to risk the rest of what I had left in my account trading like a gambler, so I pulled my funds and paid off a little credit card debt with them.
Now I intend to start again and once I get into the swing of things and find consistant gains again I think I will actually trade on enough borrowed monies that my gains are enough to keep me feeling as if its all worthwhile. It does take money to make money. Fingers crossed.
Good luck to you as well!
Hey sdc......It's been a couple months since I posted, but I've been following this board of forex traders for several months now and I learned much, but ended up taking a break from trading a couple months ago when I became discouraged with my lack of predictable gains. When I'd lose some, I'd feel like I was spinning my wheels and wasting my time. Having been away from trading for a while I had time to go back to the charts and reevaluate my desire to trade again. I love charting and that was a lot of what made me reconsider. I haven't funded my account again yet but I'm preparing to as I change brokers and wait for the funds to clear up at the homefront. I should be trading live again in the next couple to few weeks. Right now I'm getting caught up and preparing mentally. This macd pincher setup is new on the board and has me excited to return to trading. I'm still not quite ready to throw my money at the machine, but I fully intend to again before much more time passes.
Cool SG.....I think my old dell laptop clocks in at around 300 mhz. LOL It's not quite that old, but it's not quite that new either. lol..
Time to leave the house again......I hope to come back to a little less pain on AU when I get home again this evening.
Thanks SG. :)
Good day to you then jav. Btw, I changed my non-smoothed IFT to it's 4,4 value setting. I like the earlier signal. FWIW.
I think you're on to something jav! I added HA_dm candles to the main chart along with the non smoothed IFT (5,9) in the window below and that really gives a much better signal for reversal for me for potential reversals. Wait for the TDI bands to hit top window and the grey line in the regular IFT to begin to drop before going short or exiting a long. And vice versa for taking long postiions......wait for TDI bands to bottom in window and the grey line in the regular IFT to begin to turn up before going long. That's my initial thoughts anyway. I'm sure there's no perfection there so I'll be tweaking line signals and values for my entry exit strategy.