It seems the channel is drawn from previous days startâŚhowever, it is a rather subjective perspective and apparently Pipology moves it around to better suit the price actionâŚnarrower is better I believe.
I know Iâm getting a little tired of redrawing it all the time for all the pairs Iâm applying it toâŚthen I end up missing many moves due to not being there when they happen.
So I just started working on an EA to test just how much the channels are needed vs just basing the signals on the macd & wpr values alone. Will share my results if worth sharing.
That is what I call âfeeling the marketâ That trade was great for you. I didnât take it because I wasnât in from of the PC. You can notice that the RSI and W%R donât even touch so there was hope for a continuation
Here is the trade that I took few minutes ago and I got out flat even if I knew it would reach the target. I donât want to stay too much in the market waiting for profit. Many will tell that if I would have wait 1-2 more minutes I would have got the profit. Yes, true, but sometimes 1-2 minute can be fatal for your account si I rather get out and try another time. I hope other traders to understand my point.
And yes, the last week was weak, very weak. The market is slow and the movements chaotic. I am looking at GBP/USD in H4 and Daily that thatâs the disrespect that âbig guysâ show to traders. Those movements show us that They Donât Care about you or anybody. Those movements eat your life if you donât stay out.
No they did not touch but W%R continue down from there and touched RSI. It made me a bit panic at first, but I have learned so far W%R shows next move pretty exact. And I was behind the screen to get out, I risked my position and it came out great. It never touched my SL, but it was not looking good when I left the screen. And I didnât wait for next candle to close and to exit, because in that case I would make a draw down. I waited, and once more W%R was right. I attach next trade that evening, I didnât take it, because my currency meter was showing me that these 2 currencies were equally strong, but W%R showed me the way to go again.
I am starting to find this indicator great, the only problem is, you never know, weather is going to go on in the reversing direction and cross RSI or it is showing the reversal. TO know what to do in that moment is most important. But nevertheless I think even if it crosses RSI it is showing that reversal is coming anyway. I will observe it more, if somebody has any other idea please you are welcome to share. What do you think about this PIPology?
The trades I didnât take but worked later that night:
I checked back and found the example I mentioned. Please check the image attached and you will see what I mean. In this case a looser. Only experience would close the trade, next candle was already down 9 pips I think.
Well you never know anything. Thatâs why itâs critical to follow some rules and respect them, to stay cool anytime
I saw EUR/USD yesterday, it was tricky and some people got fried. Itâs part of the game. BUT who has 0 spread on EUR/USD got his profit
Now, back to todayâs trade.
Today was a great day for trading. Either if you traded CAD/JPY or GBP/JPY was a great day.
Here is the trade for today:
So, what do we have here ? Itâs called CAD/JPY. The pair that helped me discover this strategy.
Here is the trade:
3.00 GMT: Price breaks the Regression Channel
6.00 GMT: The 2 EMAs cross and same time break the TL
7.30: MACD turns down, W%R stays above -80 level
Perfect Setup !
Entry: SELL @ 105.42 w/ 1 lot
Spread: 2 pips
SL: 105.42 + 10 pips + 2 spread = 105.54
Target: Reached in 10 minutes
Success !
Today was another great day for trading in Forex using my strategy.
Here is the picture of the trade:
5.30GMT: Price breaks the RegChan and white TL and closes above them.
7.00GMT: Price makes the 2 EMAs to cross for the first time, but MACD is still down.
11.30GMT: Price makes the 2 EMAs to turn for the second time, MACD is still down but it shows optimism to turn up.
12.30GMT: MACD turns up, W%R is UP, we wait for a retrace of the price and watch closely the W%R indicator to go bellow -20.
13.30GMT: Price retraces, MACD still up, W%R retraces bellow -20 and didnât cross with RSI.
PERFECT Setup !
Entry: BUY 2 lots @ 163.00 (another sign that we can enter without problems is that price retraced exactly to 163.00 that acted as support)
Target: 163.10 (reached)
SL: 163.00 - 10 - 2 (spread) = 162.88 (never reached)
Time of trade: 25 minutes
Todayâs profit: 10 pips x 2 lots x $10 per pip = $200
Another pair that gave a signal was EUR/USD but I got only 3 pips from that one because trade was taking too long and I got out âflatâ with those 3 pips in profit. (It happened @ 12.00 GMT)
It seems the market got some speed and here I am with a new trade for today.
CAD/JPY - base pair for my strategy gave a good signal and got me another 10 pips profit.
Here is the trade:
So, what do we have here:
5.00GMT: Early in the morning CAD/JPY made the 2 EMAs to cross and more it broke the white TL.
6.00GMT: Price turns the MACD up and closes above the RegChan, BUT the W%R is way above the -20 level, so we wait for a retrace
6.30GMT: Retrace happens, W%R confirms and didnât cross RSI, MACD still up and more price closes above the RegChan (thatâs good, because RegChan acted as a Support)
Good Setup !
Entry:
BUY 2 lots @ 104.58
Target: 104.68
SL: Too Far to bother place it, because at this point price donât have the power to move bellow the RegChan, it need at least one pullUP in order to fall so the entry was perfect.
Time of trade: 10 minutes
Profit for today: 10 pips x 2 lots x $10 per pip = $200
Comment: Why didnât I place a Stop Loss ? Because the market, as a living entity built on fundamental rules of gravity, needs to gain some altitude in order to fall and at this level (small) we can play with movements and get our 10 pips per day without headaches. And more, the price found support at RegChan upper band. As you can see, the candle that ended after our 10 pips profit itâs a remarkable reversal one.
Today was another great day in Forex, because EUR/JPY did it again.
Here is the chart of the trade:
14.30GMT: Price broke the TL and RegChan. Close under them. 2 EMAs cross. MACD still up.
17.00GMT: Price turns MACD down. W%R still bellow -80. We wait for a retrace.
17.30GMT: Price retraces, W%R above -80. No resistance found at lower EMA.
Perfect setup !
Entry: SELL 1 lot @ 163.62
Target: 163.52
SL: 163.75 + 10 pips + 2 spread = 163.87 (too far to be reached at this level)
Target reached in 5 minutes.
Profit: 10 pips x 1 lot x $10 per pip = $100
I attached also the big picture of the chart to see the origin of TL and how it came to present day with RegChan. You can notice that at some level price broke again the TL and RegChan, upper direction but it hit the upper band of RegChan than dropping down again.
I hope you will understand from the charts.[/QUOTE]
Sorry but I donât understand. From what I can see the sucessful trade had a RSI crossing also; the same as the 2 unsuccessful - or Iâm not seeing something. Hopefully someone can explain.
Trading after RSI crossing is a high-risk move. You do it on your own. I donât recommend it.
Sorry but I donât understand. From what I can see the sucessful trade had a RSI crossing also; the same as the 2 unsuccessful - or Iâm not seeing something. Hopefully someone can explain.[/QUOTE]
Hello,
I red all about your system here and tryed to learn and understand it today i took first trade on my real account and get wat i expected it realy works and i like it weary much.thanks for your good work
So I just took thi trade, It looked a bit risky to me but W%R prooved it self again.
Nice 10 pips profit in 15 minutes. Good luck to you all!
Let me attach the trade I just took, the fastest in in my history with this system. I missed 10 pips exit cose jumped up 15 pips so I just clicked stop. Othercase, till now, up 40, but my trade allreaady closed.
Glad to see it works for you. But be careful and never hurry. Respect the rules and stay cool even when you lose 10 pips. You will recover them faster than you think.
[B]perfectsun[/B] - I see you are taking risks sometimes it works sometimes not.
I didnât have time to trade these days even if some pairs gave excellent signals and profit (for those who caught them).
I took a risk and broke one of my own rules about not trading before 6GMT I recovered what I missed this week. Here is the trade I took minutes ago:
00.30GMT: 2 EMAs crossed
1.00GMT: Price broken the RegChan and TL closing above
2.00GMT: Price makes MACD turn UP, and retraces receiving confirmation from W%R going bellow -20 level.
Perfect Setup ! (I was here, too tempting )
No, no, I am not risking, I just didnât see the news was coming. About the first trade, It was a perfect signal, but sometimes %R can continue down and turn after second candle. So pictures I took, shows like I took a risky trade. Like I said before the hardest thing is to decide to enter or to wait for another candle, cose %R may go still down(or up) a bit and cross RSI before the reversal. At least for me. But I like the system, It works. I took another trade yesterday, but it took to long to go to the TP so I closed it before with just a little profit. I saw later it went to the TP. Pictures attached.
Today was another great day in forex, like yesterday as you saw in perfectsunâs post.
Here is the trade for today (GBP/USD):
Setup:
10.00 GMT (12.00 platform hour): I moved the Reg Channel to make a tighter range. At closing of the bar the candle closed a little above the RegChan but not very much. Also MACD turned UP. The 2 EMAs were already crossed.
10.30 GMT: Candle hits the RegChan and price retraces a little. W%R gives the signal for a good entry point.
At this point I took some risk because the price didnât break the RegChan. So I places a strong SL and that was it.
Entry: BUY 1 lot @ 1.9561
SL: 1.9561 - 10 - 1 spread = 1.9550
Time of trade: 5-10 minutes to reach target
As You did, I did not trade gbp/usd because my channel was not moved, lol, but I took another trade with success.
First entered one lot, one candle later I added one more And it went down to profit. The only mistake was exiting too soon, It made another 45 pips in a few minutes more, but greed got me once, so I am happy with TP. Very happy.
Will share my results if worth sharing.
That trade was great for you. I didnât take it because I wasnât in from of the PC. You can notice that the RSI and W%R donât even touch so there was hope for a continuation 
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