Robert, looks like your idea and mine both worked out today. going from the inside out and the outside in. Double whammy
Hi everyone,
First i wona thank you all for all your effort on these bollingo band topic.Really learning alot.
I’ve got a question for you all. If you look at the EUR/USD right now, the 4hrs is showing a likely change in trend,(starting to head north) but the daily isn’t yet.
Now, do i start trading towards the center boll? how do i know the trend wouldn’t reverse? Or do i wait till the daily starts showing signs of reversal too?
Am trying very hard to understand Carter’s ideas but its hard for a newbie to follow with all these technical talks. No offense, but can we pls keep it simple.(Newbie Island remember).
Cheers
Ade
well from what i see on my 4h, it looks like the downtrend is losing steam. notice how the price isnt riding the lower boll anymore, and, also note how the bottom boll is now flat/slightly upwards. looks like price is taking a break here and will either go north or south from there. on the daily it looks like pretty good support on the 1.3862 level and notice how the top boll is aiming downwards now. looks like i would have closed any short i was in and would be waiting for the bolls to give more of a hint to where price is going. this could be just a retracement, or it could be the start of a new trend
It sounds like you have got the idea. If I see a set up on a longer time frame I keep moving down to shorter time frames and looking for the same set up. If the 4h is hitting a lower bol line drop down to the 1 hr is it at the lower line yet? it is. Drop down to the 15 min look for the same thing. If the setup is showing on multiple time frames its a better setup. when every thing lines up you can enter based on a short time frame chart and use a smaller stop.
Do you know the fundamentals of forex? Do you know the fundamentals of Bolling Bands other than what you read in the school of pipsology?
If any of the answer is No.I will advise you to steer clear of live trading until you understand fundamentals.But if you want to try your luck,you can ignore my advice and start live,based on the few information you get here.You are likely to be lucky to get some profits from that but i can assure you that you will likely to lose all what you gain with interest as well.Refill your account more than once.
Trading involves lot of hard work and efforts in the beginning but as time goes on,you will start to reap the fruits of your labor.
Good luck.
Jimmy.
Point taken but there are quite a few experienced traders on this thread and besides the basics we chat about set ups and possible improvements to several systems that have been developed along the way. If you have any questions just post I’m sure many here would be happy to reply in detail.
The basics are a 20:2 bollinger band and either 3/6/9 LWMA line up to enter a trade at the outer boll bands or trading a high/ low MA tunnel/ 5:1 boll within the larger 20:2 boll. If you have a firm grasp of this concept you can go on to more detailed set ups i.e. multiple tunnels (fast & slow) Trading a single candle on longer TF charts etc.
At present the daily EU is still firmly showing a downward trend and the 4h is more likely a partial retrace against the longer down trend.
I have attached a 15m, 1h, 4h and daily of EU. Forget the three tunnels this is a more advanced technique. But should give you a clear idea that the 4h TF chart is at present just a retrace against the daily TF chart longer down trend.
Might need to expand to 200-500% for a clearer view.
Still difficult for me to look at my charts with the pc on the fritz. but that EU daily is looking like its close to the upper 2lwma, maybe about ready to head back in.
R.Carter,
Just a friendly reminder about my questions that i e-mailed you few days ago.
Regards,
Headmaster.
I’d have to agree. 
Big pin bar on the GU daily.
Thoughts? Does anyone in the market really want to buy the £ right now???
Hi JonnyBSmart,
I have started using your LRC and LRl.They worked pretty well as far as i am concerned.I just need to decide which one to use along with Bollinger Bands or mix them up with the lower and higher time frame.
Thanx.
Hi,
Do you still login in to the chat room?
Does anyone in the market really want to buy the £ right now???
I hope not 
I can try to and see what happens.I follow Warren Buffet that says that " I am greedy when people are fearful and i am fearful when people are greedy."
Haven’t done for a few days, I’ve been away so not actively trading FX until I get back.
Hello Adeleke,
Until you can visualize what is taking place on the timeframes the state you will be in is the state of confusion. I know this because I’ve been there myself. LOL. The direction the price is heading is completely dependent on one’s view.
If I were to look at the EURUSD Daily I see the bar is up today at the end a long downtrend. Is this the pivot point and now it’s heading north for awhile? Who knows? Even the experts didn’t have a clue early this morning. If I looked at any other timeframe today it was either up, down or sideways but mostly up. So the question is where is the safe trade? Sorry, a completely safe bet doesn’t exist in this game but let’s look at our options.
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The price started off heading south very strong this morning before bouncing North but the fundamentals were still showing a more southerly direction may pop-up any minute.
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There was no clear direction from the charts except down this morning. The EURUSD looked to be close to a bottom but still showed room to the south. So jumping on the daily train going north would not be advisable as the direction wasn’t clear.
The best course of action was to play each timeframe in the direction of the trend of that timeframe. This is always the case anyway but a clearer trend direction from the upper TF’s is always easier to trade in case you get in a bad trade that the prevailing trend will pull you out given some time.
The easiest way to view the price action and how it flows across all the timeframes is to place three vertical lines on the Daily chart in yellow, red and lawn green. Then move down through each lower timeframe and watch how the PA moves between the colored vertical lines.
Whether you use Bollinger Bands, Linear Regression Channels or both you can see as the PA hit these lines of support and resistance. Let’s say the price on the H1 hit support and reversed direction. Looking at the lower and upper TF’s from the H1 will show you how the TF’s reacted. By watching the price action across the timeframes you will see when a change in direction is likely to take place. If you know the H1 is about to hit upper resistance and is likely to reverse you will know that this is not the time to be making a “Buy Long” on the M15. This move will likely make a little on a “Long” before the reverse and then quickly lose after hitting your stop.
The 95 out of a hundred traders who end up losing their money never figure this thing out. They never research the “WHY” part of the equation and just keep doing the same old thing. Their comments and questions are always the same.
The one newbie question that makes me wonder what’s in the water they’re drinking is this one:
I understand the time frames but what I don’t understand is just which timeframe is the PA going to hit Support or Resistance first thereby stopping me out on the timeframe I’m playing and losing my hard earned money? LOL.
I’ve lost count on how many e-mails and messages contain that same question. I always find it surprising that almost all were on a “Live” account and thoroughly convinced they would make a fortune in the forex. Right! These guys also believe in the Easter Bunny and before the forex believed the lottery was their retirement fund.
The Daily Timeframe is equal to the following:
D = 1 bar
H4 = 6 bars
H1 = 24 bars
M30 = 48 bars
M15 = 96 bars
M5 = 288 bars
M1 = 1440 bars
Now picture the EURUSD Daily hitting a major line of resistance in the middle of the day which is 2 bars on the H4, 12 bars on the H1 and so on and so forth. At the same time a major news release shows bad news out of the European Union. This is a perfect storm and big money will jump on this with both feet, hard and fast. No matter what timeframe you’re playing they’re all heading south. Now guess what happens to the newbie or a trader who just neglected to look at the upper time frames. If you just made a “Buy Long” you’re toast. So those of you who say “I don’t believe in the fundamentals” can keep making your donations. You’ll never see this set-up coming and Big Money is counting on it. It’s like that dumb song on YouTube right now. When it comes it happens so fast you are left with your “Pants on the ground” looking like a fool. LOL.
Understand this thoroughly before you attempt to trade live.
Trade well and prosper,
Johnny
Hello Headmaster111,
On post 3369 there is a zip file containing a Shi-Channel zip file. This is one of the Golden Chalices of charting. If you place the Shi-Channel in your charts you will be amazed at how the PA hits the channel and “turns on a dime” as we Yanks say. There are two in the zip file. USE THEM BOTH. Trust me on this. The linear lines I posted before I don’t use. I put that together in about ten minutes to show you the value of linear regression. I use a special stochastics “K” and “D” cross for trade confirmation as well as a 4-2 LWMA. The Stochastic triggers by “K” and “D” values and the 4-2 LWMA by the PA. I’m out of the trade before the 4-2.
Trade well and prosper,
Johnny
Well said.May you live long.Amen.
Thanx.Let me try this Shi-Channel in combination with others tools i have in my arsenal.I will let you know how far as i am making progress.
Regards,
Headmaster.
Thank you all for your advice.
Even though i can’t see you all, i feel like am sitting in a room with lots of friends.
Gonna read all you’ve said, work on my charts and get back to you all.
Once again, a million thanks
ADE