I felt it was necessary to show you the H8-chart at the outset as I guess not too many follow this discipline.

Nevertheless, note how the price closed on the 61.8% Fib retracement where the 100-EMA was also sitting.

The RSi-2 overheated which indicated a retrace and the next 2 candles were in fact retracements. Looking at the RSi-2 right this moment, it seems as if we may be in for another short, BUT having said that, the Fiblevel @ 1.9841 should be taken out first.

Study the RSi-2 vs. 4 very carefully and look at the times the 2 reached the 10%-level and bounced back up in the last 4 times that it did hit the 10%-level.

Comments please.

Attached Images

h8 chart 25 july 2008.gif (35.9 KB, 166 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 am out of the long for 55 points. Need for some relaxation stopping me following the 8EMA (again) when I'm seeing 8-9 point dips in the trade I'm happy to keep above my 50 for now. My "target" was 100 pips today at 1.9981 I think I'm calling it a day though so as not to be greedy. One of my better trades. I got in a candle after the news announcement and waited patiently for the upside break. Thanks ValeoFX.

Take a look at where the retrace of the move happened --- H4 chart below.

RE: H8 chart. I find the directional information from H8 invaluable and I always check it, although it sometimes does not update to the current time exactly. It did look like a potential short to me also this morning, but after the news, I went long.

My exit was at 1.9950. I could not resist staying beyond the high so far of 1.9955. Poss looking for reentry @34 now.

Attached Images

	m5-for-tsd.gif (41.3 KB, 153 views)
	h4-for-tsd.gif (26.8 KB, 155 views)

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So, the 61.8% Fiblevel was strong enough together with the 100-EMA to hold the onslaught for a further short. As I mentioned, the 61,8% Fiblevel had to be taken out before we considered the short anyway.

I have just realised that between MIG and ACTIV charts there are discrepancies in as much as that the MIG chart (H8) showed clearly that the RSi-2 crossed the RSi-4 on the close of the first candle this morning @ 08h00. Clear indication that the retrace is stronger than what I expected. On the ACTIV chart the cross had not taken place yet. Something I will look at every morning from now on. Too crucial to ignore especially on the H-8.

__________________
"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.

Hi ya !

Nice day again.

Valeo, finally i let my cci for the GY @ 14. And put my cci for GU @ 34.

Attached Images

	GU 250708.jpg (111.3 KB, 153 views)
	GY 250708.jpg (123.7 KB, 153 views)

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Picasso is the best !

Hey Suk,

I just read that you look for re-entry.

Just an advise : re-entry fails mostly of the time because of GREED.

With 50 pips your day is achieved

Tell me, i take you and your family with my jet to the beach

Damn, sounds good to dream

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Picasso is the best !

The M5 TF was very "busy" this morning and as I keep the M15 open next to it, it was clear that as long as the price did not break the Pivot (sitting @ 1.9888 ) and therefore ±20 pips away from the first signal @ 07h45 (where I banked +11 pips when it hit against the equivalent 28-EMA-H1) this trade was not going LONG imho.

Second attempt came @ 09h00 and yet again hit and overheated on the EMA. Broke through @ 09h30, but too close to the Pivot to my liking and by now the ensuing announcement made me decide to switch to the M15-TF and wait for the announcement.

Suk, I must compliment you for having taken the trade where you did, but I have the feeling that the M15 played a major role in your decision????

My entry was therefore at the close of the 10h30 candle @ 1.9991 where the "Diamond" is sitting.

In the meantime the H4 CCi-5 also overheated @ 12h00.

My exit was when the CCi-60 overheated on the M15 as well as the M5's CCi-34 and RSi-4 @ 1.9950 for +59 pips.

Attached Images

this morning's entry m15.gif (32.5 KB, 154 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, go to your "Period_Converter_Opt" indicator and open it up in the "COMMON"-Tab. Make sure that both imports are ticked. Usually only the bottom one is ticked. That should solve your problem.

Good trade on your behalf.

Best wishes and enjoy the weekend.

__________________
"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 was asked to show my active screen 1 where I run both M5 and M15 TFs on and so I post it here for ease of reference.

Please ask if there is anything that you want me to explain, but it seems pretty clear to me.

Attached Images

m15 and m5 screens.gif (113.6 KB, 149 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 Valeo I understand! Thanks for all your wonderful contributions
ejpdl

Valeo,

This method is becoming easier and easier to understand. There may be a lot of things in play but i think it's key for a robust, flexible system. Congrats on all of your hard work. Could you post your most recent templates?

Best,

cl