The latest pdf file is too big (at 49 pages) to attach as a forum post attachment so I have put it on my site, hope no one minds - see below link...

Valeo_FX_Latest

UPDATED: Monday AM.

A very harsh market today I found...but I was long after an RSIs signal and drew in this triangle (dark turquoise). The fact it was broken to the upside at the close of the candle when the CCI overheated I wonder if it helped offset the CCI5 overheat on the close because the trend then shot up (as can be seen)...

Thankfully the MA 100, 180 and 336 kept me out of the short despite a couple of potential entries signalled on RSIs plus "diamond" and kept me holding on to my long. Also the MAs on H4 the price was above them.

I took pips out of the market this morning after a fairly agonising wait, where I compromised my rules. I think the M5 had a lot of support, but I was very worried about the overheating on the H1 and H4 of RSIs plus a sinister CCI turbo crossing CCI exit signal on the H4. Not an easy decision today by any stretch for me anyway.

Soon I will be taking a lot more pips out of the market on these trades because I am committed to mastering my risk reward much better. For now my wife has just instructed me to be happy with what I've got. My account is at a "psychogical high" and so I am going to be patient for the best opportunity to ensure I break it!

Gratefully,

suk

PS The yellow dashed line was my entry --- please comment Valeo if you can tell me how I could/should have kept out of this - because it really took me asunder my 15 pip tolerance stop (which I allowed as it was lower than normal volume trade for me to place). The purple would have been a much better entry in hindsight - I was rushing to get in the market...

Arguably the close of the overheated CCI5 candle is also an entry due to the break of the dark turquoise triangle/trendline...

Further comment on M15 welcomed we need to get used to the addition.

Attached Images

harsh-mark.gif (25.7 KB, 216 views)

__________________
Dreamers Never Sleep, Neither Does FX --- http://www.starfxcapital.com

Suk, I am a little confused in terms of your comments, time of posting, etc.

Kindly tell me whether this was in fact posted yesterday? and is this the 15M TF?

Sorry about my confusion.

__________________
"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.

M5 entry:

No Long entry before 08h00.

Possibly short @ 08h30 and you would not have lost any pips either, just a "rude wake-up" call.

Notice that the price is not breaking the 123% Fib line @ 1.9535 @ 09h25 and that the RSis keep on climbing higher.

First signal for me was @ 10h00 candle close, but I did NOT trade it there. I somehow felt that the price needs to break-out of this sideways trend.

My wake-up call came @ 10h20 when the RSi-H1 and H4-TFs bounced off and so as the M5 RSis, crossed back up, I entered @ 1.9530.

I am still in the trade as per the 8-EMA rule.

Best of pips this week. I am posting the M15 after this.

Attached Images

this morning's entry.gif (35.7 KB, 214 views)

__________________
"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.

I learnt yet ANOTHER lesson this morning, but I thjink it is a good one: By keeping my candles the "normal size", I see the overall market picture better and therefore I am posting 2 screen-prints to illustrate the difference.

First entry signal was @ 02h45 and from there onwards the direction has been LONG inspite of efforts to put you off, let me illustrate:

1. @ 06h45 candle the "short" was overheated immediately by the CCi-5 and the direction continued LONG.

2. @ 08h30 same situation occurred, but this time the CCi-5 did not quite overheat. However, we find a divergence on the 15M-RSi and direction remained LONG.

3. @09h30 we get another attempt at distracting us, but RSi is higher than @ 08h30 and we wait for the signal to go Long. Entry was on the close of the 10h00-candle @ 1.9524/5 depending on your charts.

4. "Exit signals" on M15: First @ 10h45 close @ 1.9571 (±47 pips). However the rule is we stay in the trade as long as the 8-EMA allows us to on the M5 TF.

5. First exit signal (which I took), was when the RSi M5 showed divergence @ 11h30 @ 1.9597 - only time will tell whether that was correct, BUT with +67 banked, it was a pretty good morning of harvesting. My fault guys and I want to tell you why...........should have switcehd to the 15M-exit strategy and we could have banked at least another 40 pips. My apologies

Any questions will be answered during the course of today.

Best wishes.

Attached Images

this morning's entry m15.gif (36.0 KB, 210 views)

__________________
"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.

In this chart you will see the direction far better than on my previous chart where the candles are larger.

Attached Images

this morning's entry m15 #2.gif (44.9 KB, 206 views)

__________________
"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.

Thanks ValeoFX. I posted the updated pdf yesterday and edited the post to include my entry today. I was unnerved a little by the market action today. I took the long and got the breakout levels (as per my picture) but I took the long too early and had to endure relying on the southside support before my trade became profitable at the breakout of the triangle.

My comment related to the overheated CCI5 at the point of breakout and that the trend continued which could have been predicted due to the close above the "triangle" - which is the trendline you have drawn in your M5 and also that there was some ambiguity to me as to whether we were continuing north - my RSIs gave me the short signal, which I did not take either because of the EMA 100, 336 below.

I've amended post to try to make it a clearer.

__________________
Dreamers Never Sleep, Neither Does FX --- http://www.starfxcapital.com

Just to show you the accuracy of the Entrex once again, guys. Pay attention if you are not using Fibonacci.

Best wishes.

Attached Images

entrex h1 today.gif (31.2 KB, 199 views)

__________________
"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.

suk

PS The yellow dashed line was my entry --- please comment Valeo if you can tell me how I could/should have kept out of this - because it really took me asunder my 15 pip tolerance stop (which I allowed as it was lower than normal volume trade for me to place). The purple would have been a much better entry in hindsight - I was rushing to get in the market...

Arguably the close of the overheated CCI5 candle is also an entry due to the break of the dark turquoise triangle/trendline...

Further comment on M15 welcomed we need to get used to the addition.
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Firstly, I had an overheating CCi-5 on the candles just before your entry candle - you were very "brave" to have taken that entry after the CCi-5 nearly overheated on your charts???? OR am I wrong? Please check that closed reading now??

I also had the diamond, but as mentioned the CCi scraed me off!!

Both of us should have entered @ 10h00, but my "gutfeel" was not right as I mentioned in my earlier Post.

I thought you are in the US?? But it is always good to see you here.

Best wishes.

__________________
"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.

First signal @ 06h45 with an exhausted H1 and H4 clearly showing.

First Short @ 09h00 and immediate overheated CCi-5 with resultant sideways movement running into Announcement @ 10h30.

Entry @ 10h35 close @ 1.9637 and still in the trade although the H1 CCi-5 overheated stick to the rule regarding 8-EMA on M5.

Notice that the H4-and H1-RSi-setup on M5 did not cross on the 10h30 candle. Sure sign that the direction remains short.

CCI-cross as the "golden"-cross.

Best wishes.

Attached Images

this morning's entry.gif (33.2 KB, 162 views)

__________________
"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.

Here is a screen-print of my H1-chart this morning when the RSi-setup for the H4 TF on the H1 chart, showed us a clear indication that we could have shorted the trade at close of the H1 candle @ 08h00 with a price @ 1.9685 and we could have closed the trade before the announcement otherwise our stop would have been triggered anyway.

I marked the crossing on the H4 set-up with an Aqua-triangle and you can clearly see that the RSi-2 was way overheated aty that point still.

Valuable lesson to me anyway. Hope it helps some of you.

Comments please? Or is it just Suk and I writing to each other?

Attached Images

h4 rsi on h1 tf.gif (30.4 KB, 162 views)

__________________
"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.