Some of my forecasts

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ashwani chadha

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#481
#481
Re: NZD-- long term

4xpipcounter said:
Your rate of success goes up when you use a confluence of unlike indicators.

I did not know what you mean by "tis".




dear pip counter thanks,i under stand your point,once after listening from you what i realised,80% your and mine system is same,60% i am dependent on my sr/rs which gives me accurate result for every time frame, for rest 40% i depend on various indicators including stoch, i use pivot point support also,now macd i dont use ,i call it invester enemy indicator, williams i dont use ,my favourte, because give advance information before the move come thanks for your clarification, and what is this tls?
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my mech system speak on one side and most of the time macd contradict it if one day i add second day i remove macd
 
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ashwani chadha

Well-Known Member
#483
#483
Re: NZD-- long term

4xpipcounter said:
Ashwani, it's good to know you have a system that works for you.




my mech system speak on one side and most of the time macd contradict it if one day i add second day i remove macd
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i just wanted to know,macd is a very popular indicator,where i lack, so it does not match with my mechnical trading system,although result of my system or app 90 % perfect.
 
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4xpipcounter

Well-Known Member
#484
#484
Re: NZD-- long term

Ashwani, I'm interpreting your comment as in the fact you have a 90% success rate ,and you are wondering why you might have a lack in your trading in using the MACD, because it is so popular.
All I can do is share an opinion. First off all, just because something is popular, it does not make it right. After all, it is popular to be a failure as a trader, as that is the case 90% of the time.
All oscillators lag, and it has been my experience that the MACD lags as bad as any of them.
That has only been my experience, thus, the reason the stochastics is my oscillator of choice.
The people at Action Forex use the MACD as a staple in their methodology, and they are very effective, as their forecasts will testify to. So, once again, it all comes down to personal choice.



i just wanted to know,macd is a very popular indicator,where i lack, so it does not match with my mechnical trading system,although result of my system or app 90 % perfect.[/QUOTE]
 
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4xpipcounter

Well-Known Member
#489
#489


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K raaja, here's a live example, as I entered this long on the EUR/USD as a daytrade. In other words, I'll keep it up through Friday and take profits, which most likely will be my target of 1.4253.
Support and resistance comes in my forms. The greater the confluence, the greater the S or R. My 4-hour chart is showing a high probability that this is going to be a good trade. The candle is sitting on top of the cloud and the tenken. Price has gone sideways for awhile on the WP.
Let's assume I'm right. We need to find an R for a target. The MR3 is 1.4253, and 1.4253 would mark the daily range for the pair, so I figure that is a good target. I could have made it for 1.4272, which is my WR1, and it could very well be hit. I made it for the more conservative target, because I will be able to get away during the day, not manage the trade, and still feel good my target will be hit.
What you are really looking for on the entry is a strong confluence. This applies to the usage of all TF's. Look for the most dominant TF, and that would not necessarily mean the highest TF. It means the one with the strongest obviation. That should be what your entry revolves around. Scalpers get into trouble along these lines. They might be looking at the 5-min chart to go long, and the 4-hour is a freight train out of control. They lose big, and then blame the indicators.

Please let me know if you need additional clarity .



k.raaja said:
dear paul.. could u give some details of your support and resistance lvls... advanced thanks .
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4xpipcounter

Well-Known Member
#490
#490
Eur/gbp



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Here's an example of a pair getting ready to collapse. Even the hourly will show how this pair walked through my WR1, then was stopped (As per the chart.) at the WR2. That is what I call a continuation. In other words, it kept going to the WR2 without regard for the WR1. This means trouble when you disobey the signs. There should now be a correction back to the WR1. The stochastics is also very OB, and ready to cross, which would also indicate the WR2 should suffice as containment.

The stochastics has not crossed yet, but this is where you have to anticipate the cross before it happens because of the other evidences.
 
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