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- spartan replied Sep 11, 2006
If I understand your question correctly, the answer is no. The vertical line has to be between the points of support to be valid. Hope this helps...
Mouteki Trading
- spartan replied Sep 11, 2006
Hi Sinar, you spotted a perfect setup for this method and it's gone perfectly! Tha's like a traders' dreams come true. Hopefully I can spot a setup just like that next time.
Mouteki TradingCheers!
- spartan replied Sep 11, 2006
Thanks so much for reply! I'm sure that's not for the fainthearted...I saw the chart and it moved against you for about 100 pips before heading south. That's definitely the most volatile pair I've ever seen! Well, thanks again and happy pipping!
Mouteki Trading
- spartan replied Sep 11, 2006
That's good JodyOng! Feel free to post your result here including enter/exit prices, max drawdown, and maybe a chart if you will. I'm sure people here would benefit from that! Cheers.
Mouteki Trading
- spartan replied Sep 11, 2006
Just got up from a nap...btw Zuke, that's an interesting currency pair you're trading! The range of the 4-hour bar you traded was 627 pips...do you regularly trade that pair? What's the spread for the pair? The spread for that pair with my broker is ...
Mouteki Trading
- spartan replied Sep 10, 2006
I would set my S/L at 10 pip or so below the supply line if you are buying, and 10 pips or so above the demand line if you are selling. Or, if you have any other method that tells you where supports and resistances are, I would locate one right ...
Mouteki Trading
- spartan replied Sep 10, 2006
Here's the result of my demo after 4 and a half days: v1.0c1c 38-9 -1329 pips with $1,050 floating loss(0.1 lots) v63-TS 18-2 -60 pips with $2,500 floating loss(0.1 lots) Enough said.
Firebird EA - fixed version -
- spartan replied Sep 10, 2006
Yeah, I think you're right. There has to be at least 2, maybe 3 candles, inbetween to be valid in order for both point A and B to have 2 lower candles on both sides.
Mouteki Trading
- spartan replied Sep 10, 2006
Moutekitrader, thanks again for sharing. Those were nice examples. Cheers!
Mouteki Trading
- spartan replied Sep 10, 2006
I agree with you but I still think asking questions/asking for clarification is reasonable unless Moutekitrader wants to keep this thread clean. In that case, maybe we need another thread, but I feel he would be happy to see many people posting in ...
Mouteki Trading
- spartan replied Sep 10, 2006
I think the basic idea is to use your 4-hour chart using your broker's price data to do your own trades...so people most likely get slightly different bar formations but I don't think the market opening time has much relevance to this method. You ...
Mouteki Trading
- spartan replied Sep 10, 2006
To our surprise, it might increase our profit by 100%! I was thinking about the same thing when one of my open position was floating around 5 to 10 pips below the TP. Different broker uses different server time hence different chart data but I feel ...
Firebird EA - fixed version -
- spartan replied Sep 10, 2006
Actually, we could prevent the loss if we had this CRYSTAL BALL! — Hi all! last week was a really bad week for most of us...especially for the ones who put his or her hard-earned dinero to trade firebird. I know most of us prefer a fully ...
Firebird EA - fixed version -
- spartan replied Sep 10, 2006
Thanks for the confirmation! I really like you method, though I have not done any trade using it yet
Mouteki Trading: , it's simple, powerful and accurate! I look foward to the development of this thread, Moutekitrader! Cheers.
- spartan replied Sep 9, 2006
Hehe, thanks Peter. I got that part already. This is the case where it's easy to see and identify but a bit hard to put it in words. I think I understood it right before asking about this at first but maybe I did lack the language skills to put it ...
Mouteki Trading
- spartan replied Sep 9, 2006
If the price does not break either supply or demand line then I think you would likely not have a lot to redraw. I am sort of back testing on a past chart right now, drawing trendlines everywhere to see how his method can be applied to predicting ...
Mouteki Trading
- spartan replied Sep 9, 2006
PeterFM, Thanks for helping. I'm not sure if I put it right in my post but I think we are talking about the same bar formation. In a nutshell, you'd need to pick a bar where both the preceding and following two bars are lower profile, right?
Mouteki Trading
- spartan replied Sep 9, 2006
Wait a minute, I think I misunderstood your question...I apologize. In my understanding, if the price breaks (bar opens) above the supply line (which is drawn on top of bars) there will be a big move upward. And when the price breaks (bar opens) ...
Mouteki Trading
- spartan replied Sep 9, 2006
Moutekitrader, in regard to choosing points of support, you wrote in your doc: True points of support are only those which low has two candles to the left of it and two candles to the right of it which lows do not exceed the low you are using. Am I ...
Mouteki Trading