pgd wrote:

Elixe wrote:
== extract ===

rules are now:

-- if "ranging" H4 (OLIVE or GOLDENROD) --
H1 GREEN BAR : Bid is below MA15H1 & Sto722 below 20
H1 RED BAR : Bid is above MA15H1 & Sto722 above 80

Elexi, Nanningbob,

here's something for your consideration:

pl take a look at the h1 chart attached. it bears the new dummy lights.
as you can see, the h4 light is olive, price being between 60 and 240 on that timeframe.
so, one can take signals in either direction.

the h1 light is showing green which would indicate that one should be looking for a long.
however, if one looks at the way the ma's are stacked on h1 : 15 < 60 < 240,
one would be looking for a short with price rising above 15 and falling back below 15.
should the h1 dummy light not be red in this case, then.
on the other hand, if 15 > 60 on h1 while both are still below 240, one would be looking for a long each time price dropped below 15 and rose back above it. the h1 dummy light would then be green.

And, mutatis mutandis in the h4 goldenrod ranging scenario...

kindly comment.
thanks.

pgd wrote:

nanningbob wrote:

pgd wrote:

nanningbob wrote:

pgd wrote:hi bob,

kindly look at the gbpusd h1 chart posted below.

would you enter short:

[1] during candle marked 'A', the moment sto reads < 80 .... OR
[2] at close of candle marked 'A', when sto closes < 80 ...... OR
[3] during candle marked 'B', the moment sto reads < 80 .... OR
[4] at close of candle marked 'B', when sto closes < 80 ....... OR
[5] wait for ma15 (orange) to point downwards again and then take the next sto short trigger ?

thanks.

The break of a MA line or DO line would work. The signals are there so you enter the trade. It went about 70 pips off of last nights move.

#1 forget the close of the candle garbage. I never trade that way. When price decides to move you go with it, waiting for the top of the hour never made any sense to me.
#2 going with a break of a horizontal line (Daily/Weekly Open or xxx.000) or an angle line (trendline/MA) are always your best two options.

Yesterday playing the break of the DO or Trendline were your best two options to enter.

hi bob,

thanks for the reply.

by 'DO line', i assume you mean the Daily Open Line.
please confirm if that is correct.

i have re-attached the chart drawing the TL (a bit differently from yours) using the first 2 troughs in that incline (as would happen in realtime).

based on that, the following breaks are available:

candle
time
------
15:00 - TL break at 6052 (by ~ 2 pips)
19:00 - TL break at 6063 (by ~ 6 pips)
19:00 - ma15 break at 6060 (by ~ 3 pips)
20:00 - daily open line (magenta) break at 6045 (by ~ 48 pips)

a few questions arise:

[1] how would you make your choice looking at those events, as they happen ?
[2] how many pips beyond the line being broken do you place your entry order ?
[3] where would your s/l have been in the present case (we have the 1.6100 sweet spot about 40-60 pips above the listed break events) ?

Well, when you get a signal you place your trade and PRAY. There is no way you can predict where price is going to go. However, you try to put the odds on your side and hope for the best. Most of the time if you have a trade back into a trend it is going to work. BUT, it may do it right away, 8 hours from now, or even two days from now, maybe never. You just see the signal, look at the trade and say to yourself, "Self, this looks good and go with it." Price will:

1. go for your SL or
2. not go anywhere or
3. at some point go in your direction.

Any one of those places you mentioned would have been good enough if you waited long enough. Then again price could have ....................... but you know, that is trading.

thanks, bob.

that answers my Q. [1].

kindly also answer Q's [2] and [3] reproduced below for your convenience:

[2] how many pips beyond the line being broken do you place your entry order ?
I have no rule, I just place the trade.
[3] where would your s/l have been in the present case (we have the 1.6100 sweet spot about 40-60 pips above the listed break events) ?

rosst wrote:It would be nice to be able to see the pair and time frame at a glance. Thanks for sharing all your good work...

SpiderX wrote:Hi Bob,

Not sure if this have been brought up before, have you considered starting a new discussion and calling it "10.6" ?
700 pages seems a bit long and after all this thread is still called 10.4.
Maybe you can link some of the key discussions on the first post.

Cheers