in all this TA talk it's important to note that fundamentals trump TA,and right now there is more major fundamental intervention going on than your monthly interest rate and unemployment reports,so be aware of outer trendlines and be nimble, we are just barnicles on an oil tanker and these ships are all in a huge storm at sea
People are willing to place a label without looking for them selves for the answer. We stated in the last few post that this is not my system and not licensed to make trades for any firm. You like models so you have your answer. The bank model must work very well look at the last quarter.
We back tested the system on gbp/jpy forex market and it works good on a 221 tick chart if you stick to the trend on the 30/60m chart. If it break the 15 min trend line that is a signal of a trend change. You can use the auto trend lines if it is available.
There's too much stuff in your posts for them to make any sense ... for all intents and purposes of anyone reading this thread, it's nonsense. I see that this is yet another shortorlong (which are getting old very fast) so I'll leave you with this. 1. KISS 2. KISS 3. KISS
1 minute is indeed NOISE. But if you insist it is not let me make a suggestion. Using a one minute chart for entry and exit in and of itself is a loser. IF, a one minute chart (ES) is used as "early entry" in conjunction with a 5 min chart objective (this is breaking rules) then a trader might do that on one condition. The condition being that the trader also realizes he/she is getting in for a longer term objective outside of the one minute charts exit signal relative to the said charts entry point. Follow? In other words, if you use a shorter term signal to enter a longer term trade you are getting in BEFORE the longer term signal sets up properly. Many will think they are getting in early but that is wrong. A "GOLD" signal needs to setup relative to the objective. Trading a one minute chart as entry and exit is a losing game, commissions and a slip in discipline on a single trade will ruin a wholes days work. Just not worth the effort. Burnout is a reality.
Forex you mainly use this during NY open, London open and at around 5am. KISS This helps with the noise factor!
Choppy market that are in congession req channel to avoid wipe lash and if the adx is inter twinted that is a sign of a choppy market. It is always a good idea to wait for one/two BAR closes outside this area TO confirm possible direction. 5/10 MIN CHART
A one min chart is good for entry but, to stay in the trend it is good to go to the larger time frames. Like tonite 3/30/08 on the gbp/jpy on 221 tick chart, the price broke the 9 ema, so you would look at the (one min) to enter by using a 30 ema hooking down to confirm entry to go short, so you are right in that respect because it was good for 30 to 40 pip or about 300 to 400 dollars. Use a stop above the 9ema on the 221 tick chart this could go down all night using this stop on the 9ema. Wait till morning! Yes it is still moving wow!
After breaking the last low start to scale out of your trade to make it a free trade and continue to reach for your goal of a thousand dollar trade. The rest is up to you good luck! Wow! Or you can wait for your model (FROM THE BIG BANK) to signal a trade! LOL
Watch the USD index Sunday Night opening to see direction of the currency. Right now you are seeing there effect it could change the trend on the GPY/jpy forex.