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APRIL FOREX II

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Posted: #51
Quote Originally Posted by popinjay:

wall, if you're looking for another indicator take a look at CCI.  it is similar to RSI, except i dont think it has a limit to how far it can go (ie - rsi is between 0-100 whereas cci can go up and up and up  or down and down and down.  i use it as it crosses the 100 and -100 lines as buy and sell signals


I will..I think a serious drawback to the RSI is having it anchored to the 70/30 area.


 
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Posted: #52
Two trades $1150.........not a bad week i guess and i still have the rest of today to find another one....
 
Today is my youngest sons Bday so we are going to the zoo and stufff be back early afternoon
 
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Posted: #53
CCI indicator on Forex charts too POP?
 
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Posted: #54
nice, i saw that one worked out for you buck.... it look real good last night and i wanted to get in but i had 2 other trades open.
 
hmm im not sure if they have it on forex?  ive only been using the Forex charts to look for your system of dmi crosses, buck.  for other trades i have a bunch of charts set up in metatrader4 which i really like.  i have some custom indicators like the 'squeeze' combined with a couple others which i really like to use (CCI being one of them)
 
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Posted: #55
Nice call on that EU.LB short..she went to .8915 on the low after moving higher initially.
 
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Posted: #56
Oh and I found this on how the CCI is calculated-

link

Looks like it is a moving average deviation, and I plugged it in on the Eu.AUD chart and it looks sort of like the RSI only the drop is more extreme and the rise as well, it went to -320 and to +320

I guess you could use it as an exit indicator but as an entry I dont know..since it can and does go into such extreme levels.
 
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Posted: #57
wall, the way i've incorporated it is say it's at an extremely low level and starts to turn up, as it crosses the -100 upwards that is a buy (entry) until it travels and crosses the +100 line which is a sell (exit)... and vice versa for a short
 
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Posted: #58
i found a torrent of a lecture that steve nison did,  (the guy that wrote that japanese candlestick book)  about forex.
 
it is like 400 minutes of instruction, and i have not started it yet, but it looks pretty good, comes with powerpoint suplement and the book
 
 
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Posted: #59
nice rick... ill def check that out over the weekend or when i get a chance!
 
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Posted: #60
thats one thing i want to master as much as i can... candlestick patterns and bullish/bearish indications based just on candlestick formations.  it's the only true real-time indicator, every other indicator is lagging and based on the past
 
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Posted: #61
the book is great, i have been reading it for a while, and actually printed out some of the bullish and bearish patterns, and have them on a clipboard next to my auxiliary monitor.

i am looking forward to watching the lecture, i am going to be layed up for 3 days,  getting 4 wisdom teeth ripped out of my skull tomorrow. 

hope to watch the 400 min lecture while on bedrest.
 
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Posted: #62
Getting a cross of the DMI line in GBP/USD......going for $500
 
1.4664 entry
 
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Posted: #63
Are you buying or selling buck? I'd guess buying?
 
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Posted: #64
Man I dont see that DMI cross..

ADX at 34ish, DI at 20 and -DI at 19

I see congestion and the chart is maybe slightly overbought but I dont see much there.
 
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Posted: #65
the cross came in the 16:00 block on the 4hr you had the +DMI go down through the -DMI....i was late to the party but its moved my way ...looking to bail here soon up $440 or i was just a min ago its got to within about 1-2 pips of limit several times
 
 
 
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Posted: #66
I messed up....i had my limit set at $550 not $500 or id be out
 
I did that b4 cause i type in the dollar amout in order box rather than adjusting the pips guess i hit the 5 twice instead of the 0....and now im up just over $200.........but its close to end of the hr so we will see what happens after 1am here in a few 
 
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Posted: #67
long on usd/jpy @ 97.08

just looking for 34 pips and im out like a trout. 


 
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Posted: #68
Wow the +DMI on JPY is flatlined on the bottom of the chart....did you get out Rick or you still in?
Id also love to be jumping in CHF soon as its down to 1.14 and will soon be a bottom bottom,but its Friday and im about to leave to take my son to school and then im off to work...
 
3 trades +$1650 for the week........see you guys this afternoon or Sunday
 
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Posted: #69
came close to a stop but im still holding long usd jpy with a limit @97.42
 
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Posted: #70
I like it Rick the daily looks good on it....it may try to test 96 but i think that would be the bottom......did you average or are you holding at orig price?
 
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Posted: #71
I set it and went to sleep, 97.42 gives me 450 pips for the week
 
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Posted: #72
Good work on the week fellas!
 
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Posted: #73
hit the 97.42

anyone think that the weekend gap up could be huge for usd/jpy ????
 
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Posted: #74
Its hard to tell Rick....RSI hasnt been this low since Jan 23 and b4 that it had bounced off 25 several times only once since last Aug has it dipped this far and that was in Dec during the freefall ....now at 24
 
 
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Posted: #75
Thats looking at the Daily chart
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