How does this stack up? Any comments welcome…:o)
Dominant bias is up on the daily chart. Therefore looking for longs only.
Trigger based on hourly chart. Spinning top around 11am my time. Found previous support area from late July.
Stochastic extreme ticked. ADR with plenty of room to move.
The only way you’re going to know if anything is compatible with how you currently operate given your style & risk attitude Matt, is to experiment with it.
You’ll soon get an idea if something is adding value or not.
Don’t lose sight of that objective.
Any additions you introduce should be a complimentary measure to getting you seated in sync with your criteria of identifying dominant bias/directional momentum.
Stacks up pretty good from where I’m sat UBBSH.
It’s maybe not the prettiest pair on the block to be getting up close & personal with, but that’s just my view.
If you’re happy to indulge, then I can’t disagree with the analysis you’ve presented.
One of a good setup for me:
Dropping down to a micro timeframe to look out for opportunites:
Stoch hook or price patterns are just a confirmation. Most important is identify the price at a good area or location to pull trigger. 
I initially looked at including the GBP/USD on my watch list when flipping through pairs, but in the end decided to leave it out mainly due to the scrappy price action on the Daily. Do you trade it much Jocelyn?
Rightly or wrongly, after weighing up the choices associated with the Pound I plumped for GBP/CHF. I realise I’m already following the Swiss via the EUR, but that pair is displaying the trendy type of price action that attracts me hence the inclusion. I’m using one against the other at the moment to see if EURO is displaying a likelier setup than the Pound. This morning it was the GBP/CHF that offered the clearer signal with that spinning top on the 1 hour chart at the start of London trading.
I suppose I’ll soon discover if it’s a worthwhile exercise or whether I should consider choosing another Sterling based pair.
Not this year.
I’ve played the long side three times from a medium term view. There have been more fruitful opportunities out there so far in 2011.
When situations like heightened fear & uncertainty are doing the rounds just look to Gold & Swiss for the value bet. You may as well milk it while it’s there.
If the SNB (or coordinated entities) decides to flex it’s muscle then that’s the time to step aside & wait see how the market deals & absorbs it.
Your daily/hourly signals will let you know when it’s time to get out and/or back in again.
Ray, do those big arrows in the top right corner represent the 3 ducks alignment (above/below 60sma) on the 3 different timeframes?
you wont not need to wait for the trends to change Matt if you add to your stratagy what you said in your post of earlyer today 
Hi Matt,
No, I was at work. But was happy that my analysis was inline with the intent of this thread.
I also thought the cable is stumbling along without much conviction as Jocelyn pointed out.
If I did I would have cleared 70% of my stake when it got to the 6380 level (prior swing high). I am only interested in day trading, dont want to carry any positions overnight at this stage.
yes it must be a loser if you are at your stop loss for this trade.
but Matt, the Swiss has been all on the news wire service this morning with varius coments from officials about pegging that currency to the euro & imposeing charges on deposits. this is what is the influence for such a large rise in this pair today in this session.
today that pair has steadily rallyed over 150% of even its present large range on the back of this news. plus the hourly stocastic is only now begining to hook over on my chart.
i have left alone the swiss franc this week and had a litle nibble on a long usd/cad instead. with oil coming off a bit and the debt problems still high for America, i saw price moveing back above the simple moveing average on the daily chart last week so watched my hourly stocastic for signs first.
the first nice hook was in yestarday tradeing session thrugh 0.9800. it has not moved very far yet, but i will track to see if it can make it back to the parity leval. if it drops back thrugh this mornings higher low of 0.9870 then the trade for me will be finished.
i am going away from the day trades and favoring the litle bit longer type of trades. this daily and hourly view that strobe and Jocelyn have discussed is added another nice view to the thred. it also will allow good time for me to check and track the news flows of informaton relateing to the currency i am interested in tradeing. not so much rush desicions to take trades.
i can match up better the technical side with a litle fundemntal as they have recomended.
I do not see a candle on the 1H EURCHF chart to engage. We should be looking for a spinning top, doji or inside bar. “all signs of fair value & indecision”.
For example. EURUSD dominant bias is still short on the daily in my view. Lower Highs.
Less than 4 hours ago it printed a doji with a stoch extreme on the 1 hour chart. This area (1.4280) was resistance two days ago.
Short the low of the doji bar @ 1.4230. Target 1.4120.
I like the pace of the daily as the primary chart and the 1H as the trigger. Jocelyn has me convinced of this. Will attempt to master this template first before trying the 1H/15M combination…:o)
Hi Matt,
I feel it is a good practise to pay attention to the daily chart and look at the daily canndle imprints and whether price is making new lows to continue the downwards bias. Or price is forming doji showing indecision in the market, while keeping your H1 and m15 combo.
The settings across those timeframes are Carll’s not mine. I don’t use indicators Matt.
He spent time last year program testing various settings based on differing volatility conditions across a selection of pairs for a couple of momentum triggers he was constructing. Conclusion being, 14/3/3 got the green light for 60, 15 & 5min on the higher adr pairs & he suggested standard settings down to 6/3/3 on the daily for the type of set up strobe was enquiring about.
All I did was take his entry trigger request from post #781 & tie his preferred indicators into the usual top down approach by utilizing those timeframes.
That combo offers him a simple, effective bias/trigger set up that can be traded via a short or longer time horizon hand-in-hand with repetitive price action behavior typically witnessed at continuation pullback levels.
Hi Jocelyn,
Would you be able to throw up another example of a 1H/15M using the stoch extreme/hook template pls.
Also, I was wondering whether you consider the asian session a no go zone for trading? Folks from down under have the advantage of trading the asian all the way thru to NY open (currently 10PM here) but obviously it would be ideal to trade the asian/tokyo shift and maybe the london open.
Cheers
Darren
If it’s any help I can throw in my novice observations Darren. Since she showed & explained that top down example things have become very much clearer for me.
There have been pullback opportunities during the past 3 sessions on EUR/USD. I have daily bias still bullish on that pair so only considering longs.
1 on Thursday london lunchtime at an hourly spinning top above 1.4140, another on Friday after a hammer formed signaling an entry above 1.4170 & another pullback hammer yesterday signaling an entry above 1.4320 around that Asian/London morning high.
15 minute stochastic was at the 20 & turning up on Thursday lunchtime above the hourly spinning top, moving positive from the low on Friday morning with a bullish divergence & turning up off 20 yesterday through the Asian/London morning high at 1.4320.
For what it’s worth, I’ve taken a compromise between the 100 & 200 moving averages I originally had on my daily & plumped for a single 150 sma as my bias confirmer along with the stochastic. I’ll leave your other question to Jocelyn. She’s far more experienced than I in those matters.
Did strobe’s post cover your hourly/15min query Darren?
That’s a pretty typical scenario as far as combining those two timeframes with a daily background bias in play.
There’s also another one playing out now on eur/cad.
Daily bias is up, therefore play the bullish hourly/15min set up at european open providing avg range is ok & you can calibrate acceptable risk.
I personally don’t consider any regional session a no-go Darren. Volumes will be lower during that shift than the prior two headline sessions & Tokyo can often resemble a graveyard when there’s very little data or heightened risk appetite playing out.
It also spends a good deal of time consolidating prices after aggressive moves during London/New York. However, when the prior two shifts have been relatively quiet, the dealers will often go hunting stops if they see an opportunity to do so.
During established trending moves Tokyo quite often presents very acceptable pullback entries, especially during their afternoon shift. I wouldn’t write it off at all, just be aware of the price action leading into Tokyo & if you get a bias/trigger opportunity to get aboard with acceptable risk, then pull the trigger.
and on the gbp-usd too after the flat data release of this morning kept the prices suported. daily, hourly & 15minut all confirming posative bias.