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63cci
Morning folks.
This morning I am going to waffle on a little bit about the 5m chart and the CCI63.
This is not a trading system in itself, but a very good tool for getting in and out pretty smartly with 30 or 40 pips, sometimes more.
In the attached USDCHF chart from last week you can clearly see 3 different opportunities. Allow me to run them by you.
The first one was all about the break of my 60m 20&50 ma's, which are the thick red and blue ones that were in close proximity.
Look closer and you will see that my 5m 20 was below my 15m 20 and both were headed down.
My CCI63 crossed indicating the set-up, then the 7CCI, my signal, retraced back to positive and the entry was on after it crossed back through the 0.0 with the red Heiken Ashi confirming.
The exit is then the 63CCI starts to pop back above the -100 level, netting close to 40pips.
The second was was not quite so straight forward as the first with no retracement on the 7CCI. Why? Well look at ALL my moving averages above. There was nowhere to retrace to.
This one was played upon the 4ema breaking the support line with my 63CCI confirming.
The exit strategy was the same here with the 63CCI moving above the -100 level after a little 30 pip move. Since the fall wasn't aggressive, the price action had not moved too far away from the m.a's and profit taking not essential with plenty of resistance still overhead, but I am just trying to demonstrate how relatively easy it is to pick up 30+ pip trades with minimum of fuss. Do that 4 times a day and you're on your way to becoming very successful indeed.
Finally, the third move was similar to the first with the 7CCI retracing back above the 0.0 after breaking the support line with the 4ema with entry coming on the first red Heiken thereafter coupled with the 7CCI re-crossing the 0.0 from positive to negative. This was a little 70 pip move after the 63CCI rode above -100 to take the tally on this one pair alone to 140 pips in less than a day.
Next I will tile the other 3 majors on the same screen to show how these pairs faired over the same period using the exactly the same strategy for entry and exit.
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I'm now sending trading notes out twice a day with videos too. Have a look HERE.
There's one set at 6:30 UK time for London and one at 12:00 for U.S session, plus I will send a summary video after each session 
Last edited by FX Pimp; 07-20-2008 at 03:28 PM.
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