I took two longs this morning, one of them was below the moving averages (shame on me really)...

But the second was "according to the rules" I think...

1) I noticed therere was a long wick on the 5 min candle at 10:30 on my chart (9.30 uk time). Also the CCI was overheated as well as the RSIs on the 5 minute chart.

Although below EMAs H1, the setup was good enough for me to go long.

The next M5 candle had a long wick showing me sellers might be in play so I wanted to wait for retrace...

Notice the RSI2 how it turns up on the second bearish candle. This was my entry (on the lose of this candle) The CCI has had a chance to retrace and although TCCI has crossed zero, I'm getting from chopzone and sidewinder, that a CCI zero line reject is "good" - ie will signal continuation of upward move3.

The RSI 2 though was ma gift here. t turned up a had had a chance to retrace, so it was a valid entry now. (Notice how RSI2 on H1 and H4 are above the green RSI4.

Incidentally I missed the short this morning, so I'm pleased to have got pips out this morning in the long.

I would also like to point out on the second M5 the rising volume (above average deonted by SMA13) onn the bullish candles and the decreasing volume on the correction. This also gave me confidence to take the retracement entry. This chart shows my variation on te traditional XO method which I still have up - and working a treat I might add in this instance!

Attached Images

	retrace-5m-valeofx.gif (36.1 KB, 481 views)
	volumes-m5.gif (30.2 KB, 478 views)

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To me this was another reentry candle. Why when it is a bearish engulfing following a hammer?

look again at the volume(2 and 1 candles from the current on the chart) notice how the selling is on incredibly LOW volume ---

Even though it is a hammer the buy action is on above average volume. The big sell candle --- a blatant TRICK! --- it's too low volume to even care about for me in this instance. There are no big-wig sellers in on this candle - only HIDDEN BUYERS waiting for our retrace! And yes, we see again on the VERY NEXT candle, above average volume buying.

I'm saying this because ValeoFX asked me to explain my use of volumes which is in testing stages.

Plus can use close below 15EMA as exit anyway so risk reward has potential still because EMA is only 5 pips away.

Whilst I did not like the divergence on the CCI, the trendline has held in terms of the main CCI (yellow)...

Great opps in this trade.



[edit] I don't want to publicly share my errors unless they would benefit others.

Attached Images

volumes-m5-2.gif (28.6 KB, 472 views)

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A truly heinous crime you have committed my friend!

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Ash's Signals

It can be forexmoments because they are there for a reason. This time though my "intuitive reasoning" gave me a clue to direction - ie the prior closes above the 15EMA and the mini-retrace...Either that or pure luck. I like the current short by the way.

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Don't forget : NEVER OVERTRADING

You can make your job with 10 pips a day with an appropriate money management.

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Picasso is the best !

Thanks Joe, so are you willing to help me capitalise further to trade that way! May be I have found some of ValeoFX's secret in this thread through the correct and proper study...

Another trader told me the same thing. I am so grateful for this forum right now. Thanks for the continued support. I hope I have helped some traders too. I think I must have the way things seem to be going.

The thing is Joe, there are some guys (may be You) retail trading with $500 or $2000 per pip. Would you take 1 or 2 pips profit on these trades if you had slightest doubt? Of course! Your point.

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I think that a no trade day is better than a loss day

THE MARKET IS HERE EVERYDAY !!!

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Picasso is the best !

I have had endless problems the last 3 days to post, but finally managed to get my software sorted.

I will post the trades I made for the last 3 days a little later today for your kind perusal and comments.

Best wishes.

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"Risk comes from not knowing what you are doing" The Tao of Warren Buffett.

"Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki.

x04tf I put in a nifty alert
actually if i may say so myself its pretty nifty

just set number of alerts to however many you want
0 to not alert

Attached Files

XO 4TF score.mq4 (8.4 KB, 76 views)

Thanks, youre great!