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i have a question about mfi
do u entry only when mfi(14) cross 20/80? yesterday, my mfi on GBPJPY 4hr chart didnt cross 20 n today GJ has gone up. so, if yesterday i wait untill mfi cross 20, then i wont get an entry. is that correct? thanks
I was demo trading the reversal yesterday and like many here was entering based on nonlagdots and QQE on the H1 charts. I got about 8 trades stop out for various pairs in a row before they turned into good trades.
I believe you did get a trade in the BPJPY? I was just wondering for the GBPJPY if you describe what candle formation in this particular case you would have entered on, and what timeframe?
Do you look at trend line breaks as a way for confirming that a trend has broken down at all?
i have a question about mfi
do u entry only when mfi(14) cross 20/80? yesterday, my mfi on GBPJPY 4hr chart didnt cross 20 n today GJ has gone up. so, if yesterday i wait untill mfi cross 20, then i wont get an entry. is that correct? thanks
I just use the mfi for a confirmation that the trade might be a good one. ALOT of times it will reverse off the 20 and 80 levels, but not always. The most important thing i look for are.
1. A arrow (either down or up)
2.A candle with a long wick bouncing off the non-lag zigzag
3. When that happens then I look at my MFI and see where it is at.
4. I also use a RSI with a 50 level. you want a cross of the 50 level.
I just use the mfi for a confirmation that the trade might be a good one. ALOT of times it will reverse off the 20 and 80 levels, but not always. The most important thing i look for are.
1. A arrow (either down or up)
2.A candle with a long wick bouncing off the non-lag zigzag
3. When that happens then I look at my MFI and see where it is at.
4. I also use a RSI with a 50 level. you want a cross of the 50 level.
I hope this helps
thanks alot for the quick reply Mr Forex11.
actually, i lost my 600 pips becoz i didnt pay attention to mfi.
i use rsi too but my setting is rsi(25). after i lost my 600 pips, i realized that i cant rely only with nonlagzigzag & zigzag pointer. thats why i add nonlogdot on my FTC template, just like someone said (sry, forgot his name, i think it was dxtrade), & pay attention to mfi.
i try to learn candle stick pattern, but it seems i cant apply it on real trade very well
I have noticed that the zigzag lines and arrows move with the price so for example if an arrow appears for a long trade and price continues to go down then the arrow just follows the price action and looks as though it is perfect. Very risky in my opinion.
I have noticed that the zigzag lines and arrows move with the price so for example if an arrow appears for a long trade and price continues to go down then the arrow just follows the price action and looks as though it is perfect. Very risky in my opinion.
that is why we use several filters and also learning candle-formations to help determine when to get in.
the arrow only lets you know to be ready for a trend reversal. thats all
depends
Linear Mode
