Unfortunately I can’t PM - there must be a minimum post limit before you can PM
Hip chat is pretty cool. Send me email and we can check it out
in the mean time, EUR/AUD is looking good to short soon on the 4HR…
Add me ! I’m interesting with that!
Like Phil said, it is not the first signal, you may trade it but also higher chance it will fail.
14,000 is a nice round psychological number which acted as heavy support in the past, I think the chances of it acting as resistance work in favour with Phil’s system to take a short, see how the next couple of candles play out
@bucketman, @PhilipPirrip, @leonlee0116jl : try sending me msg EDITTED and lets see if hip chat will work
Even though the EMA cross occurred about 3 weeks ago on Feb 25th, it looks like EURCAD could be ready to short on the closing of the current 4HR candle.
Phil, in your experience does the length of time it takes for the second stochastic to reach o/b or o/s affect your trade decision?
Just shorted the S&P. Let’s see how it goes…
For those who would like to trade some exotic pairs, take a look at USD/HKD.
I am also getting a first sell signal on EUR/CAD, can someone please confirm?
Wouldn’t EUR/USD and EUR/NZD both be second entries?
email sent
also interested. PM pls?
Philip, good/news bad news. I’m working on monthly RSI filtering implementation. There is an easy way in Wealthlab to look at different time frame prices series for Daily, Weekly, and Monthly simultaneously in the same model. That’s the good news. So, I’m testing with my DOW-30 Daily data, and I can easily achieve RSI(14) on a Monthly basis simultaneously (pretty cool).
QUESTIONS: For a Daily test, are the Monthly RSI filtering threshold values still > 66.67 (Long) and < 33.33 (Short), or do these #'s change for Daily data (as opposed to 4H data)? Also, you had mentioned upper threshold values for Long (80) and Short (20). Do these values apply to Daily as well as 4H bars?
Now the bad news is that there is no easy way to look at 4H data bars in the model and extrapolate Monthly RSI(14) easily. That is what we’re striving for, of course, so I need to see if there is a kluge way to do that. Before doing that though, I need to prove the concept with Daily data first.
I’m also gonna look into the 100/200 EMA threshold too with Daily data.
Yes the same method applies to the daily chart. The only problem is it will generate less trades and I don’t know if they will be as effective, theoretically daily signals should still be good (just not as good as 4 hr)
Another suggestion, is it easier to apply the 4hr with a weekly RSI? If so then you can go with that. The system will be less picky than with the monthly, but you will still capture nice trends and filter out consolidation somewhat.
Also keen to join if that is alright.
Also keen to take part !
No, goal is definitely to handle 4H trades. Won’t make a difference 4H -> Weekly. Natively, WealthLab allows for disparate price series in the same model, but only for Daily, Weekly, and Monthly. Gotta figure out this 4H -> Weekly or 4H -> Monthly. Give me a couple of days and I’ll try and figure something out. Also, going to look at the 100/200 EMA filters.
With Dow-30 Daily (25 years), using RSI(14) Monthly filters, and with Long/Short Model (w/no Initial Stops), still not nailing it from the Short Side, but excellent performance from the Long side, with fewer trades. Here’s overall Performance:
joined mate !