10.6 EDSEL

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Pedigree
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Post by Pedigree »

alorente » Fri Mar 28, 2014 8:05 am wrote:
nanningbob » Fri Mar 28, 2014 12:04 am wrote:
Slope change was combined for the entire currency and incorporated into the CSS. So instead of trying to read the slope of one currency like gbp/cad and trading we now take all the gbp pairs and combine them into a general overall strength of the currency and make one line on the CSS screen. So we compare the combined over all strength of the GBP and CAD and compare them. I find this more accurate in making my trading decisions. So that is where that one went in case you were curious. :D
Thanks Bob. I wish I could use CSS profitably and I am trying but it seems it tells you what has already happened and when I base a trade on it, the damn pair changes direction on me. Also, in H4 there is quite a delay between what CSS says and actual price action. I am experimenting with M15 where you get a heads up a little earlier. For example, yesterday H4 CSS showed the GPS bands expanding with Gbp getting stronger and Usd weakening. I moved to M15 and Usd was moving up, Gbp down and Usd had already crossed Gbp, showing strength. I´ll keep at it ...
I am inclined to agreeing with this. I used to swear by the D1 Info Page CSS at the outset, but I quickly discovered that the best and safest trades I took were in direct conflict with its prescriptions. There is no better time to take a trade than when price is turning around at a peak high or low, but at this time, the CSS is still indicating the prevailing course of price.

The D1 CSS provides a fantastic view of the distribution of strength between the currencies up to the moment. It is very very useful if there is a fairly strong trend and you are happy to trade it mid-stream banking on a continuation, but this is also when the danger of a whiplash is greatest because mid-stream, price can do ANYTHING. Presently, the greatest use I find for the CSS is on the M30 chart which greatly helps me to tell WHEN to get out of a trade I have decided to close or to hedge.
Last edited by Pedigree on Fri Mar 28, 2014 8:51 am, edited 1 time in total.
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Pedigree
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Post by Pedigree »

alorente » Fri Mar 28, 2014 7:50 am wrote:
art » Thu Mar 27, 2014 11:33 pm wrote:Hi guys with all this wonderful input its getting very confusing........
I put in at least 50 hours of eyeballing charts per week. It´s like looking for Waldo in the crowd, but its worth it... :good:
Ha ha!! Say no more!!!!! It must have been this eyeballing that picked up the wedge on the EU weekly. Or do you have a tool that searches out wedges for you?

Thanks.
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alorente
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Post by alorente »

Pedigree » Fri Mar 28, 2014 9:38 am wrote:
alorente » Fri Mar 28, 2014 7:50 am wrote:
art » Thu Mar 27, 2014 11:33 pm wrote:Hi guys with all this wonderful input its getting very confusing........
I put in at least 50 hours of eyeballing charts per week. It´s like looking for Waldo in the crowd, but its worth it... :good:
Ha ha!! Say no more!!!!! It must have been this eyeballing that picked up the wedge on the EU weekly. Or do you have a tool that searches out wedges for you?

Thanks.
No tools except deep knowledge of technical analysis and my many years... I´m 63. :shock:
Observation is the path to discovery.
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Post by Pedigree »

alorente » Fri Mar 28, 2014 9:40 am wrote:
Pedigree » Fri Mar 28, 2014 9:38 am wrote:
alorente » Fri Mar 28, 2014 7:50 am wrote:
art » Thu Mar 27, 2014 11:33 pm wrote:Hi guys with all this wonderful input its getting very confusing........
I put in at least 50 hours of eyeballing charts per week. It´s like looking for Waldo in the crowd, but its worth it... :good:
Ha ha!! Say no more!!!!! It must have been this eyeballing that picked up the wedge on the EU weekly. Or do you have a tool that searches out wedges for you?

Thanks.
No tools except deep knowledge of technical analysis and my many years... I´m 63. :shock:
I salute your experience, sir!

Please indulge another question:

Could you please explain a bit further how you decide WHERE to place your cursor when you use the Channel tool and WHEN, in the course of the reversal, you do it? I find that there are several ways the channel can be placed and at different stages of the reversal, one gets a different channel, all of which can obviously not be correct.

I also find that the width of the tool can be varied. Do you use it as is, or do you adjust the width to fit price bars.


Thank you.
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Post by alorente »

Speaking of wedges... There is a juicy one being formed in the Kiwi Daily chart. That puppy will come down hard... I hope so, anyway. I´m short...
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Post by alorente »

Pedigree » Fri Mar 28, 2014 9:49 am wrote:
alorente » Fri Mar 28, 2014 9:40 am wrote:
Pedigree » Fri Mar 28, 2014 9:38 am wrote:
alorente » Fri Mar 28, 2014 7:50 am wrote:
art » Thu Mar 27, 2014 11:33 pm wrote:Hi guys with all this wonderful input its getting very confusing........
I put in at least 50 hours of eyeballing charts per week. It´s like looking for Waldo in the crowd, but its worth it... :good:
Ha ha!! Say no more!!!!! It must have been this eyeballing that picked up the wedge on the EU weekly. Or do you have a tool that searches out wedges for you?

Thanks.
No tools except deep knowledge of technical analysis and my many years... I´m 63. :shock:
I salute your experience, sir!

Please indulge another question:

Could you please explain a bit further how you decide WHERE to place your cursor when you use the Channel tool and WHEN, in the course of the reversal, you do it? I find that there are several ways the channel can be placed and at different stages of the reversal, one gets a different channel, all of which can obviously not be correct.

I also find that the width of the tool can be varied. Do you use it as is, or do you adjust the width to fit price bars.


Thank you.
As soon as I have 2 or three points on any one side, I place the channel. Then I adjust the opposite side to match a high or low point.

Also helpful to find it is the fact that the channel will always be to the left of the initial H4 slope...
Observation is the path to discovery.
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Post by alorente »

Worst quaterly current account for UK since the turn of the century. The high exchange rate of the pound is taking its toll...
Observation is the path to discovery.
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Post by Pedigree »

alorente » Fri Mar 28, 2014 10:18 am wrote: As soon as I have 2 or three points on any one side, I place the channel. Then I adjust the opposite side to match a high or low point.

Also helpful to find it is the fact that the channel will always be to the left of the initial H4 slope...
Thank you.
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Post by zader »

Hi all, long time lurker and newbie live trader here, what are your opinions on gbpjpy.
Daily TMA extended Weely and turning, H1 TMA at top of 4H, bad GBP numbers and price is just on the 4H 240 line, all looks good for a short if it drops below but nothing I've done this week has played out as I'd thought.
gbpjpy.png
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Post by alorente »

zader » Fri Mar 28, 2014 11:10 am wrote:Hi all, long time lurker and newbie live trader here, what are your opinions on gbpjpy.
Daily TMA extended Weely and turning, H1 TMA at top of 4H, bad GBP numbers and price is just on the 4H 240 line, all looks good for a short if it drops below but nothing I've done this week has played out as I'd thought.
I am short GbpJpy with a 166.75 target.
Observation is the path to discovery.
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