Originally Posted by Rig

I know this method was built with trading GBPUSD in mind, but I've also been using it on EURUSD with success so I'll post some entries of mine for those that are interested. Please let me know if you'd prefer to keep this thread to GBPUSD only.

I truly believe that this method could be applied across all currencies and their crosses. I would encourage people to apply it to any other currency / cross and post your findings here. I have traded this on EUR/USD myself and can tell you that it is very effective.

I start trading at 8:00 AM EST and the general direction prior to that time was short, so I was immediately looking for a short entry. I also like to combine a little fundamental analysis with the technical analysis provided by this method. The Euro zone has had quite a lot of bad news lately and the USD has been boosted by the financial bailout that was close to passing yesterday and will almost certainly pass probably before the end of the week.

I was fortunate to get a signal shortly after 8:00 AM. I've marked the signal candle with a red vertical line and the price I took was 1.4301. The RSIs had lined up nicely on all the timeframes and the CCI5 had made a ZLR, so it was a high probability trade for me. I didn't trade with the new indicators Valeo posted over the weekend as I'm still practicing with the previous set of indicators. I did look at the setup with the new indicators and it looked to provide a signal on the same candle. I've posted the picture of the trade with the new indicators as well.

Price stalled around the pivot line at 1.4255 so I was watching it very closely as there might have been a necessary exit there. Price eventually broke the pivot and headed down in a major way. The price ended up bouncing off another pivot line at 1.4150 and the RSIs were overheated, so again I was watching for a possible exit. In many circumstances, I probably would have taken an exit after the bounce and I've marked the usual exit with a yellow vertical line but I really felt the trade was going to keep going and after gaining so many pips in such a short time, I was willing to put some of the gains at risk. Besides the price was still below the EMA8 so really not overly risky.
Excellent!! 8-EMA teaches you a lot of patience, but do not ignore the 15-EMA when the activity starts to "dry up" - by switching to the 15-EMA you may get a few extra pips, but who complains about 230 pips in the Bank anyway. CONGRATULATIONS!!
Price eventually closed above the EMA8 and I closed the trade at 1.4068 for about a 230 pip gain. The price had hit 1.4008 at one point, so I gave back quite a lot on the trade but I was willing to take the risk as I had such a huge gain and I was waiting for a proper signal that this large downmove was done. This has been the largest gain I've made with this method and once again I have to thank Valeo for sharing this with us. Let's also thank the volatility that been in the market recently that allows us to grab these large gains in a short amount of time.

Comments/Feedback would be most welcome!

Originally Posted by AceFX

Valeo I love the entry when GU was stuck in that range. Couldnt bring myself to jump in though I hope to someday.

I got my first entry at 06:15 at 1.8052 and stuck it out (after a little sweat between 6:35-6:40) until 1.8001 at 7:05 when WPR set to M5 came back up. I missed some good volatility later in the day because of some other commitments but am sure not complaining with 50 pips in an hour!