Is there a head and shoulders pattern forming on the usd/jpy?
Well it seems they are…lol. Not sure whether thats because the new day starts with the Asian session so the pivots re-adjust with the Pivot Point always being close to the open? My prime trading time is the Asian Session.
Then volatility is usually low during the Asian, picking up at the London open, so price is still around the main Pivot Point. I havn’t traded this long enough, or not around in the other sessions, to catch a trade going from the higher S & R pivot levels to either the next S & R pivot levels, or even back to the main Pivot Point from those extreme moves.
Gotcha, thanks Sweet
You know, Im thinking that the later part of the asian session is were we are going to find real valid signals for this system I am not having great success during the US market with this system, either that or I stay in the trades all day long, its very annoying.
Joe already pointed that out…Europe = London…
I know silly me, what about the scalping. can i use that for US market ?
I haven’t tried scalping yet, but I’d say if the hourly range is high then, then try it out…demo first of course
Thanks sweet Ive been at this thing since Nov,08 and still can not stay consistant, we’ll keep trying.
Don’t worry…I’ve been at it since Nov 07…lol…and still trying too. I thought I got it at the 1 year mark, but then lost it for some reason. Pretty much figured it was due to not using a stoploss, and it’s taken me almost another year to find something with a stoploss that’s not too complicated or too discretionary.
Hello Joe100, can you please PM me the indicators you are using. Thanks in advance
Hello Joe,
Can you send me all the indicators please?
Thanks in advance.
Hey joe sorry if this has been asked already…
Is there a span of time you find that your method shows 30 minute entries most often? I don’t mean what session, I mean is there a span of hours that most of the entries tend to pop up on?
Right now I get up to trade at 6 a.m. eastern time. I’m wondering if I really want to give this system a go if I need to get up a lot earlier and catch a lot more of the london session.
P.S. can a 27 pip SL really be used for GJ & EJ? Those are two of my favorites to trade, with other methods 27 pips is way too tight. I only tried one of those pairs once with your method. Overall the entry was good, but the 27 pip SL still go hit before the TP? I didn’t however use the 5 M for the more exact entry, I just went off the 30 M signal, does that make a big difference?
In my opinion…no, not anymore. It’s basically a double bottom now…support. Price could bounce up from here, or break support and continue down. It’s definately an area of interest to watch.
Yes, I see the double bottom. I’m using a few other indicators and they’ve been pointing up. We’ll see.
Thats the same time I start to trade, it looks like all the action takes place around 1 or 2 am est.Im gonna check it out tonight.
what are the settings for all the indicators and i dont seem to understand the system it have changed along the way at first i dont think it have double bottoms and things like that ?
best regards
Hi jgadefelth,
The CCI settings are 34 & 170
The ema crossover is 3 & 1
This system is a nice mix of indicators & price action. First you need to identify areas of support & resistance where price has failed twice (double) to push thru. You also look at head & shoulders, and trendlines where price has bounced along it at least a couple of times.
Now, you don’t want to take every trade as soon as the above indicators and the supertrend are all the same color…they need to do so at these double support & resistance areas.
Hope that helps
Hi sweet girl it helps but is that not 2 cci ?
also i hate patterns and support and resistance, because im bad at spotting them and also i dont know withc ones that is important and with is not. Thats what i hate if the system is just indicators then it is mutch less complicated also are the trend on 30 mins and enter on 1 min ?
what about the scalping ?
best regards
No, the CCI indicator has 2 settings.
also i hate patterns and support and resistance, because im bad at spotting them and also i dont know withc ones that is important and with is not. Thats what i hate if the system is just indicators then it is mutch less complicated also are the trend on 30 mins and enter on 1 min ?
Then I suggest you try become more familiar with them…they are key in forex. I resisted S&R for a long time too for basically the same reasons. You need to zoom your charts out and they become easier to see.
what about the scalping ?
Same principles apply, just on a smaller scale…if price is ranging, then you need to identify some kind of top & bottom of that range. Trends are easier to see, but price ranges more often than it trends.
Hello Bro, welcome and please open my profile .
Happy trading