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Old 01-20-2006, 05:04 PM
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Quote:
Originally Posted by newdigital
Seems you created new system.
Will you post some explanation, rules and so on for discussion?
It may be very interesting (and for me as well).

yes ofcourse i will post explanation
ok i wait for two things
(1) price at end of shi-channel either at the top or at the bottom which is the normal way you posted as a system
(2) price has already been to lets say from one corner to other and now retracing back to the mid-line of the shi-channel

i am talking here from 4hr to 30 min charts

ok with 2nd option (midline) instead of fractals or anything else yet i used RSI (simple ) set to 14 for any possible divergence or overbought levels or oversold levels with price and then drill down to a lower time frame to see where the last low was if lets say the price was down and now comming up then i measure the retarcement of that move from a-b which should end near 0.236 or 0.786 which is also going to be mid of shi-channel (most of the time ) if not then i will check for price to stay at that level for some in a shorter time frame and then create a divergence which will again trigger my entry. with step rsi what i have gained is the slow rsi which ofcourse works as a major support and reistance for me if it is above 50 a mojor move will come if not expect small retracement or maybe big move.

for the 1st option i use the same technique instead i am not thinking of any retracement i am more thinking of an end of price move. One more thing is i wait for entries and love to trade with eur,gbp but was not sure about them so traded jpy which ended ok. Sometimes even price is end of the channel and rsi doesn't show me good entry so i have no option but wait.
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