alorente » Wed Mar 26, 2014 7:18 pm wrote:Here is the H4 channel for GbpUsd. Price has to drop to bring the H4 TMA to the channel.
Alorente,
Hopefully this is Close Enough to what you have Illustrated in your EUR/USD Chart.
Many Thanks,
xrismak
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| 10.6 EDSEL https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=3259 |
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| Author: | alorente [ Wed Mar 26, 2014 7:16 pm ] |
| Post subject: | 10.6 EDSEL |
For those of you that are more advanced in ExtremeTMA, I will now explain another tidbit of the system that is quite important. I will refer to the chart attachedwhere I have drawn an orange channel. As you can see, the H4 TMA (Magenta) has started its way down and still has a lot to drop till it gets to D1. What you should always do when H4 is on its way, whether up or down, is what I call "Finding the Channel". As you know, TMAs repaint the first 50 bars. The bars to the left of the 50Bars indi will not repaint anymore. Those are set in stone because we are using a 50 period. The bars to the right will repaint. To where? You may ask... That´s why its important to find the channel on a pair. That channel will let you know approximately where the TMA will end up. With practice, you will find the channel quickly. Generally, I say you should reenter at centerline of the H4. In reality, centerline in a "forming" TMA is approximately the opposite line once the TMA ends the repainting. The channel will tell you where to reenter more precisely. You will see when everything is said and done that the H4 TMA will end up very close to the channel walls. I know its hard to believe, but trust me on this... |
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| Author: | alorente [ Wed Mar 26, 2014 7:18 pm ] |
| Post subject: | 10.6 EDSEL |
Here is the H4 channel for GbpUsd. Price has to drop to bring the H4 TMA to the channel. |
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| Author: | zentauro67 [ Wed Mar 26, 2014 7:30 pm ] |
| Post subject: | 10.6 EDSEL |
Al, do you draw the channel manually? Have you tried some indi to do that? Thanks four all your teachings here. (Saludos desde Madrid!) |
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| Author: | alorente [ Wed Mar 26, 2014 7:32 pm ] |
| Post subject: | 10.6 EDSEL |
Yes. You must use the equidistant channel tool which draws parallel lines. This way you can´t cheat... Saludos amigo. |
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| Author: | xrismak [ Wed Mar 26, 2014 7:35 pm ] |
| Post subject: | 10.6 EDSEL |
Alorente, Hopefully this is Close Enough to what you have Illustrated in your EUR/USD Chart. Many Thanks, xrismak |
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| Author: | Pedigree [ Wed Mar 26, 2014 7:38 pm ] |
| Post subject: | 10.6 EDSEL |
By the "opposite line" do you mean (in this chart) the upper or lower line of the H4? |
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| Author: | alorente [ Wed Mar 26, 2014 7:39 pm ] |
| Post subject: | 10.6 EDSEL |
Yes, that is where it should go, but as we know, nothing is a certainty in Forex. |
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| Author: | alorente [ Wed Mar 26, 2014 7:41 pm ] |
| Post subject: | 10.6 EDSEL |
In this chart, the centerline will approximately become the opposite line once repainting is complete. |
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| Author: | xrismak [ Wed Mar 26, 2014 7:45 pm ] |
| Post subject: | 10.6 EDSEL |
Alorente, Hahahahahaha, Yes Thank You, I used to Trade those Channels A Lot Going with the Trend on the Higher Time Frames and Most Times in the Past I Used to Get a Result, it's all about Patience and I am Trying to Tune myself to get used to That PATIENT Arrangement AGAIN ..... Thanks Once Again, xrismak  |
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| Author: | Pedigree [ Wed Mar 26, 2014 7:52 pm ] |
| Post subject: | 10.6 EDSEL |
Sorry Al, still not clear! Do you mean the centreline will become the lower or upper band of the H4 TMA? |
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