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your opinions please

Discussion in 'Forex Trading Systems and Strategies' started by D.R.&Quinch, Sep 17, 2012.

  1. D.R.&Quinch

    D.R.&Quinch Sergeant

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    Hi everyone,
    a memeber has asked me to publish any notes i have made whilst studying a thread on another forex forum.
    The thread in question has been very popular and is based fine tuning entries using two timeframes and a few indicators, alongside candlestick patterns.
    I am not sure what to think of what i have read, but i will say no more as your opinions would be greatly appreciated, and avoiding bias may be best. Hopefully, this precis will also save you the time of reading the original thread, or serve as an abstract to it.
    None of these ideas are mine. they belong to a professional who knows more than i do! so apologies if any of this is not clear enough


    OK!
    1) bollinger bands standard settings on m20 timeframe
    2) keltner channel, factor 1 (i input 0.001 in marketscope, this seems to work) period 5 on m5 timeframe, plus macd standard setting (i use 5,34,5 but this is not stated in original post)
    3) simple price vector analysis

    Ok the idea seems to be:
    a) identify an evening star, with middle candle of pattern on the bollinger bands. m20
    b) when candle 4 ( even star is made of 3) begins on m20, move to m5.
    now draw a line on macd showing direction, and on middle bollingerband to show the direction of that. draw a line dissectiong the angle exactly. This gives a resultant, which in itself points to the keltner band that price should (!!!!) travel to in the next few candles.
    i.e if you are going short, and the resultant points to the upper keltner channel, then chance are , if you sit on your hands for a bit, the price will rise to there, giving you a better entry for your short.
    !
    here are some pictures
    ayo1.PNG

    ayo2.

    This example is quite insipid, so i may add more when the kids are asleep

    comments appreciated.
    I read this thread because of the slightly predictive nature of this process. I was hoping it might shed some light on craigs scalping method that soe of us witnessed in the summer.
     
  2. D.R.&Quinch

    D.R.&Quinch Sergeant

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    Bueller?
    anyone seen Bueller?
     
  3. Pharaoh

    Pharaoh Colonel

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    Bueller is such a slacker. :p

    That first chart looks like a 20 minute chart if I read things correctly. Any idea if this will work using 15 or 30 minute charts?
     
  4. D.R.&Quinch

    D.R.&Quinch Sergeant

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    m8, thanks for replying!
    the original author, i believe he uses 20, 25, 30m as context
    i think a quality reversal pattern situated on BB is his first main criteria

    i would love to discuss this more, as there are aspects of original thread i find more than a little rum, and i am by nature more into conspiracy than cock up!
     
  5. Marketjoy Trader

    Marketjoy Trader Private, 1st Class

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    D.R&Quinch,
    Thank you for the post. Sorry my internet was down fora while.
    Does this work effectively on M30as we do not have M20 on mt4?
    Does it work only for the star reversal patterns. what about the engulfings, haramis, and others?
    Again I did not quite understand how you got precise price direction using the 3 indices.
    And again, to be on the simpler side, why not wait for price to reach outer keltner on m5, as in the case of evening star (upper outer keltner) and for morning star (lower outer keltner)
    Combining these with MA cross seems to be quite effective.
    What do you think?


     
  6. D.R.&Quinch

    D.R.&Quinch Sergeant

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    is there anyone else interested in investigating this technique(not mine )?

    ayo have pm`d you
     

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