grimweasel wrote:Great System CoolnCalm. I remember speaking with Bob last year about a system that always kept you on the side of the monthly and weekly trends. The order of the higher TFs dictates what the lower TFs do IMHO as you have said - although the new trends must develop on the lower TFs - But as Al Brooks said in his excellent Price Trading Books, "You should take every with-trend opportunity the market offers you. You will only be wrong once - at the top or the bottom". He also states that "There are just no reliable counter-trend set-ups and the math is against you trading CT -therefore, never trade CT"
Looking back at my PASR trading system, yours has taken many of the same trades, just a bit earlier than my daily based entries - not a bad thing, as it can reduce stop losses and risk.
Thanks!
Glad you like it ... it should be even better as a bot.
grimweasel wrote: I'm currently watching audusd as it looks to be making its way back to the MP - but the piviot alignments tell me this is in a downtrend and we are seeing a retrace. If we get a new H4 high posted at the MP along with the TMA Slope bands then I think we have a valid set-up.
Nice call. However, I cannot predict PA for the life of me, I can only fast-follow the current/emerging bias at high probability points
Seeing that PA has reached significantly beyond its trading range to touch MP, it may either do what you have suggested, or fall back just enough to gather further momentum and then go back up all the way beyond MP to the H4 trading range upper limit until it sets a H4 high. Both secenarios are probable so do not get caught unawares. Either way, the pair looks good to sell on momentum weakness near MP. in the first scenario, the short entry will last a while; in the latter, it will be very brief and setting BE will be key.
Cheers,
CC
