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I'm not really focused on anything in particular with the TMT indicator. The color changes tend to concide with the color of the RC. As with all indicators, they move in the direction of the price. I actually took the long trade on the chart because it looked and felt right at that moment. The RC's and the TMT confirmed the trade. I rely heavily on the pivot points.They are my best indicator.I rarely short this pair because of the overall trend. I've been trading for 10 years with candlestick charts so a big part for me is experience with formations,etc.. Strangely enough, I can actually feel short term momentum. If I could only bottle it!! LOL. I'm not always right but always profitable on a monthly basis.
I took that long trade as well for a quick 14 pips. Took 20 at the London Open, although that one took a bit. I agree on trading with the long term trend, even if you are in and out quick. I have been burned to many times. I have even stopped taking Fozzy trades against the trend. So far I am loving the R/Cs......3 for 3 for a total of 61 pips in two days. I took the London open yesterday off the 5 and let it run all day....(I was working). Would have had many more pips but by the time I got home had to settle for 27.
I noticed today that if you look at each time the 15min stoch crosses the 1 hour stoch soon after the price moves in the direction of the 15min cross. If you see an alert candle either at the cross or soon after it's almost always a good trade.
Visually backtesting several pairs seems to verify this pattern. I suspect it is because the lower timeframe stoch leads the trend either short or long and the others look to catch up.
I had a losing trade last night on e/j and if I was looking at the cross I wouldn't have entered. It was dumbass trade anyway, me and my stupid itchy trigger finger............
I noticed today that if you look at each time the 15min stoch crosses the 1 hour stoch soon after the price moves in the direction of the 15min cross. If you see an alert candle either at the cross or soon after it's almost always a good trade.
Visually backtesting several pairs seems to verify this pattern. I suspect it is because the lower timeframe stoch leads the trend either short or long and the others look to catch up.
I had a losing trade last night on e/j and if I was looking at the cross I wouldn't have entered. It was dumbass trade anyway, me and my stupid itchy trigger finger............
Can someone tell me what an entry warning/candle is? These look great in trends, but how do they do in ranges? And how do you enter/exit?
Thank you.
I look for white candles with equal green stems for longs, and red candles with equal black stems for shorts. Ranging days require a little more work but RC works in scalping mode too. EUR/JPY was a mess today and I took 4 trades using this method and came out +70 pips.
Enter on next candle if the stochs match your direction, still working on exits
Care to share any details so as to be helpful? I've noted a lot of posts of yours are very generic. Can you please be more specific so as to help newbies actually learn?
Quote:
Originally Posted by summitfx
The more I study the charts the more I like the MTF Stochs for entries.
Care to share any details so as to be helpful? I've noted a lot of posts of yours are very generic. Can you please be more specific so as to help newbies actually learn?
I posted a zip with a manual on the information I have gathered with examples as well as the indicators here RandyCandles - Information
Linear Mode
