Actually, the price action is also quite different which may explain it.
Don't know why that is.
cmeade2 wrote:Well now I am totally confused because my chart is quite different, and there is no signal. See below. This is RSI(2) of the TMA.
Any insights?
nanningbob wrote:RSI 2 did too give a signal that is why people were into it. In fact your trade would have entered much earlier giving it a bigger loss. So you point does not hold up. Compare the charts.
But I have the same price action with two different brokers so I don't know what to say.
cmeade2 wrote:Actually, the price action is also quite different which may explain it.
Don't know why that is.
cmeade2 wrote:Well now I am totally confused because my chart is quite different, and there is no signal. See below. This is RSI(2) of the TMA.
Any insights?
nanningbob wrote:RSI 2 did too give a signal that is why people were into it. In fact your trade would have entered much earlier giving it a bigger loss. So you point does not hold up. Compare the charts.
How can you miss it??? Here is your chart. It gave the entrance signal for the entire last half of the week. I showed two spots you could have entered off of that signal. I dont understand how you miss this????
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Right, I saw it on Monday and got in for a while. But then nothing happened. The pair went pretty much flat and RSI(2) fell off. So I got out.
nanningbob wrote:How can you miss it??? Here is your chart. It gave the entrance signal for the entire last half of the week. I showed two spots you could have entered off of that signal. I dont understand how you miss this????
Right, I saw it on Monday and got in for a while. But then nothing happened. The pair went pretty much flat and RSI(2) fell off. So I got out.
nanningbob wrote:How can you miss it??? Here is your chart. It gave the entrance signal for the entire last half of the week. I showed two spots you could have entered off of that signal. I dont understand how you miss this????
Well that was a good read then. I got out when it went about 35 pips in the hole, so I bailed on that one too. Just because you enter a trade doesnt mean you have to wait until it hits its SL to exit. I exit many trades long before the SL. Most of them I find out later I didnt need to but I still do.
cmeade2 wrote:Well now I am totally confused because my chart is quite different, and there is no signal. See below. This is RSI(2) of the TMA.
Any insights?
nanningbob wrote:RSI 2 did too give a signal that is why people were into it. In fact your trade would have entered much earlier giving it a bigger loss. So you point does not hold up. Compare the charts.
My data is very similar to yours. I am on FXCM UK GMT. Looking back at the CADJPY the RSI signal was a continuation of the week before. A tough call this one I think we just have to accept that this like any other strategy is not 100%. The only thing I will add is the fact I personally use the 20ema in my trading, I would prefer to see a candle CLOSE below this MA before setting my further pendings.
Right, I saw it on Monday and got in for a while. But then nothing happened. The pair went pretty much flat and RSI(2) fell off. So I got out.
nanningbob wrote:How can you miss it??? Here is your chart. It gave the entrance signal for the entire last half of the week. I showed two spots you could have entered off of that signal. I dont understand how you miss this????
Well that was a good read then. I got out when it went about 35 pips in the hole, so I bailed on that one too. Just because you enter a trade doesnt mean you have to wait until it hits its SL to exit. I exit many trades long before the SL. Most of them I find out later I didnt need to but I still do.
I really am puzzled by the differences in the data feeds. Presumably this is why a bunch of people were short the yen pairs on Thursday, which turned out to be a disaster. Maybe they were getting signals like your previous chart.
As I said I didn't have that signal which made it easy for me to go long on the yen pairs on Thursday which was incredibly profitable.
nanningbob wrote:
cmeade2 wrote:Bob
Right, I saw it on Monday and got in for a while. But then nothing happened. The pair went pretty much flat and RSI(2) fell off. So I got out.
nanningbob wrote:How can you miss it??? Here is your chart. It gave the entrance signal for the entire last half of the week. I showed two spots you could have entered off of that signal. I dont understand how you miss this????
Well that was a good read then. I got out when it went about 35 pips in the hole, so I bailed on that one too. Just because you enter a trade doesnt mean you have to wait until it hits its SL to exit. I exit many trades long before the SL. Most of them I find out later I didnt need to but I still do.
I confirm i saw a sell signal in earlier part of the week. It fulfills all the criteria of 10.4. Just that it contradicts D1. I was using Cowboy IBFX Australia for demo to display the templates and then use GFT to enter live trades. I just checked back again, no mistake, signal appeared
Cmeade, u didn't notice that particular signal, u are fortunate
cmeade2 wrote:I really am puzzled by the differences in the data feeds. Presumably this is why a bunch of people were short the yen pairs on Thursday, which turned out to be a disaster. Maybe they were getting signals like your previous chart.
As I said I didn't have that signal which made it easy for me to go long on the yen pairs on Thursday which was incredibly profitable.
nanningbob wrote:
cmeade2 wrote:Bob
Right, I saw it on Monday and got in for a while. But then nothing happened. The pair went pretty much flat and RSI(2) fell off. So I got out.
nanningbob wrote:How can you miss it??? Here is your chart. It gave the entrance signal for the entire last half of the week. I showed two spots you could have entered off of that signal. I dont understand how you miss this????
Well that was a good read then. I got out when it went about 35 pips in the hole, so I bailed on that one too. Just because you enter a trade doesnt mean you have to wait until it hits its SL to exit. I exit many trades long before the SL. Most of them I find out later I didnt need to but I still do.
