nanningbob wrote:Here is the 1H chart gbp/nzd. I ended up with 4 trades for the day and almost 180 pips on a 150 pip move. Those 4 trades increased my account by .5% so they were nice ones. I have no more running on this pair at the moment.
I C said the blind man to the deaf mute Thanks for the explanation
zentauro67 wrote:Could RSI2 give reliable divergence signals? Each passing day I find RSI2 more mysterious. I´m not even sure recent bug is a bug. I prefer to think it is a magical forecast signal. We´ll see if tomorrow CHFJPY plunges...
Screenshot - 02_07_2013 , 0_03_19.jpg
CHFJPY?
Your chart is EURGBP... :
EURGBP as an example of bearish divergence. CHFJPY is the bug one. Mine CHFJPY RSI2 is still at the bottom (awsome), as it were calling the price to plunge.
ddd.jpg
You do not have the required permissions to view the files attached to this post.
could you please post the .mq4 version of your MTF TMA Slope RSI Visual to look where the difference in calculation is.. I have two different version of this indicator and cant check which version you are using...
totty23 wrote:...looks odd also, nothing like Ingots.
Totty - it's identical to mine - CHFJPY ... as Jeremy said.
CHFJPY_4H.JPG
Until we get a solution, just use a bit of judgement ... if the Rsi2 "should" not be up/down at a price level, then treat it with suspicion ... try other Rsi2 as posted by Jeremy, and reproduced below:
MTF TMA Slope RSI Visual.ex4
Take care
EDIT: Oops ... Jeremy beat me to it by mere minutes
You do not have the required permissions to view the files attached to this post.
Back to the JPY bond buying program again this month. Once again Japan will try to weaken its currency with another round of bonds. Last months got high jacked by moves in the stock market but the program continues. I managed to catch some retracements and prevent serious account damage in June. China economic weakness is now affecting Asian currencies. I would continue to see aud, nzd, jpy, weakness with any sudden news causing all sorts of volatility. Nothing you can do about that but be prepared. JPY should weaken against eur, chf, gbp, usd. usd/jpy if it breaks 100 again should happen but the key R line will be the 103 mark. Probably not enough action to push it above that at this point. Dont know if it will weaken more than aud, nzd, cad, so it could be sitting in the middle more on the CSS.
Summertime is usually range time with currencies so I dont expect any big runs like we saw earlier in the year. Of course that can change with a big news story. The biggest hurdle I see is Benny Boy, Dragon Head or Emperor K opening their mouths. They can disrupt the market at any time with what they say. Now we have Prince C in England and he is going to want to make a splash so good luck with that when it happens. If the SNB shows its ugly head I think I will cut it off. LOL
Trading is so much fun. Watching to see how many JPY pairs will cross the 240 line this month.
chf/jpy, usd/jpy, and eur/jpy have already crossed the 240 line
gbp/jpy, cad/jpy, nzd/jpy are knocking on the door right now
and trailing and seeing who can win the weakness contest is the aud/jpy
I donot expect the same kind of moves we saw in April and May so will be more conservative and less agressive than before.
Thanks for the explanation
:
