Still waiting for a bone fide swing signal out of the system. In the interim I had a couple of small trades last night. Long EURUSD at 1.2480 and closing at 1.2500 at railway tracks and system median rejection. Then reversed and went short to and trailing stop triggered at 1.2470.
EURUSD Trade summary 9-7. http://www.precisetraders.com/forex/PTS_9-7_1.gif Before the close of the Asian and open of the Euro session, price did a nice little run up giving a classic 1-2-3 setup. I jumped in at 1.2475 after the 1.2470 15M fractal line was broken. Daily channel is up, all trend direction lines are up. 4H is at the mean and candles formed a double bottom and closing prices are higher lows. 1H trend direction lines are pointing up. The 15M has broken it's previous fractal line and may be forming a new one around 1.2490. If that fractal point forms, that will be my breakout and add on target. Another add on target will be the 15M retrace and confirmed continuation. Confirmation after retrace: http://www.precisetraders.com/forex/PTS_9-7_6.gif 1H and now Daily status are green: http://www.precisetraders.com/forex/PTS_9-7_9.gif Fractal being broken, 1-2-3 clearly forming on the 1H as well as 1H channell pivoting flat. As mentioned before, channels don't stay flat for long because it's like a seasaw and momentum is swinging: http://www.precisetraders.com/forex/PTS_9-7_12.gif Initial profit and pattern target is reached. Looking to raise stops: http://www.precisetraders.com/forex/PTS_9-7_19.gif Waiting out some retrace: http://www.precisetraders.com/forex/PTS_9-7_25.gif Back on track. Stops raised to 1.2520 and now I'm going to bed: http://www.precisetraders.com/forex/PTS_9-7_28.gif http://www.precisetraders.com/forex...-7-summary3.gif Woke up to this: http://www.precisetraders.com/forex/PTS_9-7_29.gif Stops triggered and pocketed about 145 pips between EUR and GBP. Looks like 4H rejected price at the +1 in a down channel. 1H shows a head/shoulder pattern. Continued consolidation on the pair is still in order for maybe the rest of the week. If you trade the Bill Williams chaos method, the Daily has been pretty far from the alligator. To get back to the alligator either requires a major retrace or in this case it only requires traversing in a range while the alligator catches up to price. Or sometimes a combo of the two.
Can you any one post the differences between kelter channels and bollinger bands? I have heard some one in this forum mention that once it breaks the kelter channle it's not coming back? 1) are there any profitable traders using kelter channels? 2) If so, what are your methodologies? i.e. could you please share how exactly you would enter and exit a trade? 3) Is kelter channels used in conjunction with other indicators? or is kelter channels used by itself? Thanks for all the contributions. Rgs, Agassi
EURUSD Long @ 1.2400 closed out at 1.2418 with trailing stop +10 Long @ 1.2418 targeting 1.2440-1.2450 then 1.2470-1.2500 Cams picked bottom at 1.2378 and reversal/continuation area of 1.2410-1.2416, and high of 1.2436. As of 10:35 MST Low was 1.2375 and High of 1.2436. Pretty damn accurate. H3-H4 levels are possible reversal areas with H4 violation being contuation. Screenshots coming tomorrow on how things play out. I must say that I'm very impressed with the cam pivots. I'm only trading the IBFX account.. one or two mini lots. gotta rebuild after the previously mentioned losses. Oanda is on hold for a bit.
I modified the 4X Made Hard 2.0 version to show better x-overs and also plot price. The X-overs have no bearing on where they happen regarding the price level. They're just a signal to long or short. Attention has to be paid to where price is and targets are still based on price levels and s/r. Signal is simple. Take a crossover above or beyond the purple +-1 deviation levels in the direction of the channels. I normally don't expect much action sunday, but because the markets have been stuck in range mode, and some pretty substantial Japanese news coming, I figured I'd try the new version and look for small term trades. 20-30 pips or so. Looking short as all channels but Daily are down. Lines are at or beyond +1 on all time frames but daily. However, Dailly is breaking past the mean. 1.2405 is my entry target. Cam pivot L3 - 1.2389 is my area to watch fo r reversal or breakout: http://www.precisetraders.com/forex/PTS_9-11_1.gif Breakout has occured. Cam pivot L4 - 1.2366 is last reversal target and confirmed breakout level: http://www.precisetraders.com/forex/PTS_9-11_3.gif Confirmed. Targets are now 1.2332 1.2311 1.2289 based on standard pivots: PTS_9-11_6.gif 1.2311 is reached: http://www.precisetraders.com/forex/PTS_9-11_10.gif 1.2314 is hit on retrace. Exiting and waiting for breakout. Based on dynamic fibs, retrace level may reach as high as 1.2349 which is also a pivot target: http://www.precisetraders.com/forex/PTS_9-11_14.gif 1.2345 is hit on retrace. Reversal or retrace? Don't know don't care. I'm not going to trade a reversal, but I will take a chance on retrace and look for confirmed continuation. http://www.precisetraders.com/forex/PTS_9-12_1.gif Confirmed contiuation and re-entry. Also shorted on my account and shorted GBP on the Oanda account. Going to bed: http://www.precisetraders.com/forex/PTS_9-12_5.gif Woke up to this: http://www.precisetraders.com/forex/PTS_9-12_6.gif Price is way outside of the pivots. Time to go to work, so I put on a limit take profit and trailing stop: http://www.precisetraders.com/forex/PTS_9-12_9.gif Got to work and trailing stop hit at 1.2296. http://www.precisetraders.com/forex/PTS_9-12_14.gif 60+37 = 97 pips The Oanda trades: GBP 105 pips EUR 40 pips The signals are easier to gauge with this method, but price targets are a little more difficult to gauge. I'm going to practice a bit more with this version and see if it's worth using. The previous version was harder on the eyes but much each easier to determine tops and bottoms because price is the trigger line.
I had to take some time off to deal with personal life issues. I think things are calmed down now, so I'm going to slowly ease my way back in to the den of money changers. :eek: EURUSD Long twice at 1.2130 closed at 1.2180 for +50 each. http://www.precisetraders.com/forex/PTS_10-13_5.gif http://www.precisetraders.com/forex/PTS_10-13_6.gif Stop triggered at 1.2180 and looking to re-enter at 1.2160-21.70 area on a confirmed signal. http://www.precisetraders.com/forex/PTS_10-13_7.gif http://www.precisetraders.com/forex/PTS_10-13_8.gif
EURUSD Limit buy triggered at 1.2070. Currently at 1.2095 and +25 pips. Primary target is 1.2100. 1.2070 was the entry target based on the 15m -1 dev. and 4H ema, dynamic fib, pivot, 15m down fractal, etc. Confluence. http://www.precisetraders.com/forex/PTS_10-13_11.gif http://www.precisetraders.com/forex/PTS_10-13_12.gif edit: Chance for a swing trade target on this one. Swing target is 1.2200 area.
EURUSD Set a buy stop after seeing a hammer on the 1H. Here's how the system looked after the stop triggered at 1.2036. Target was 1.2060. http://www.precisetraders.com/forex/PTS_10-13_15.gif Looking good: http://www.precisetraders.com/forex/PTS_10-13_17.gif Looking to take profit: http://www.precisetraders.com/forex/PTS_10-13_19.gif Stop raised and limit put on to squeeze play profit: http://www.precisetraders.com/forex/PTS_10-13_21.gif Stopped out a 1.2058. +22 pips.
EURUSD Continuing to collect small pips when I see them. 3 trades yesterday that came to about 35 pips. One open trade now from 1.1934. Target was 1.1990, so I'm looking to close soon if price doesn't break from the mean on the Daily. http://www.precisetraders.com/forex/PTS_10-18_14.gif http://www.precisetraders.com/forex/PTS_10-18_15.gif Perfect setup to catch the pull back. All channels were up, and waited for price to bounce off of the bottom of the 15 min. channel. Sitting on 9 winners in a row. It's a bit tough because under my usual style, I'd be up 400-500 pips through scaling in and maxing out leverage slowly. But I don't think I could make a living doing that without stressing out. I think I could make a living out of what these conservative pips taking chunks out of the "safe" zones.