fxnubi

Anyone still using this channel trading?

Any update please..

Thanks.

Hi fxnubi,

 

These are the very in-depth ebook/audio that you can find here to learn the RSI, they teach Range Shift as compare to traditional 30/70 overbought/oversold, positive Divergence/Reversal:

 

1. http://indo-investasi.com/showthread.php/6132-Andrew-Cardwell-RSI-notes?highlight=cardwell

2. http://indo-investasi.com/showthread.php/2936-The-Relative-Strength-Index-(RSI)-Explained?highlight=cardwell

3. http://indo-investasi.com/showthread.php/4190-The-Complete-RSI-Book-By-John-Hayden?highlight=Hayden

4. http://indo-investasi.com/showthread.php/7925-Rsi-logic-book-by-walter-baeyens-100-mb?highlight=walter

 

 

 

This site is obsoleted, but give you the simple idea on how to draw trendline on RSI:

hxxp://[email protected]/showthread.php?t=148902&highlight=RSI+trade

 

 

Some easy articles on RSI /TrendLines:

hxxp://[email protected]/files/Trend_lines.pdf

hxxp://[email protected]/reports/moving_averages_pt2.pdf

hxxp://[email protected]/reports/Relative_Strength_Index_Report.pdf

 

hxxp://www.youtube.com/watch?v=3ghuYqooyN0

 

The rest you need above Price Action like what syk1kz is showing - trendline, price channel etc...

Thanks a lot Kelvin.

All d best to you.. :D

Hi syk1kz,

 

Not true. I am using it.

I was watching your USDJPY very closely.

I was correlating the John Hayden RSI note, it said that when in the downtrend, you will see the bullish divergence. you should wait to sell high.

 

A lot of puzzle of the RSI, and today finally see it move down.

 

You long on bullish divergence based on morning star in daily, too late, should look at doji and go into Lower TF and long.

There are no sign of trend reversal such as HH, HL and RSI range shift to break the previous trend.

 

RSI is a good indicator to use and give a lot of information then other

Hi syk1kz and Kelvin,

Please suggest me any articles, ebook, forum or sites to learn more on RSI.

Regards,

Nubi

Yeah fxnubi,

Swing_ZZ is just used to draw the trend. It is faster to draw trend lines using this indicator as guidance than trying to find highers/lowers to draw correctly. Maybe you'll find 10 seconds drawing your trend lines. I use it because I use a trend line trading strategy on a lot of pairs and it helps me being faster and thus placing precise orders.

 

Note: Swing_zz will also highlight the market process.

As an example, I show you today's GBPUSD (live):

 

http://aymeric.muntz.free.fr/img3.jpg

 

As you can see ehe Swing_ZZ highlights a clear Zig Zag drawing of the market going from and to the down trend line.

A risky trade would be to place a buy trade with a TP 10 pips below the trend line. This trade represent more than 100 pips reward for about 30 pips risk, but is risky because against the trend.

 

Applied to your Optimus Prime strategy, I think it would improve your success rate.

Nice modification Alex,

thanks to you =D> =D> =D>

Hi Chris,

while waiting Alexandre to answer, here is my version:

Swing_ZZ basically draw a ZigZag line. So we can use it as guidance for trendline by connecting high to high and low to low.

And once a ZigZag line is firmed, it also give guidance of current price direction:

:) ZigZag line from hi to lo ---> current price is upward

:) ZigZag line from lo to hi ---> current price is downward

Just my 2 pips.. ;)

Sure, it's not so complicated.

In fact, just "follow the trend", "the trend is your friend"

Wow, what a great combination !! =D>=D>=D>

Thanks so much Alexandre :-bd:-bd

Hi guys,

 

I've tested a modified version of your strategy on EURCHF, GBPJPY and EURJPY.

What I changed is that I draw trend lines on H4, H1, M30 and follow the trend (just as explained here for example http://forex-strategies-revealed.com/advanced/trend-line-trading-strategy) at the exit of the "night channel". Of course, I place orders only when the trend is with me.

 

I used TP50 and SL30.

 

My conclusion is that as the success rate is quite high, trading those three pairs will improve it (thanks to that low SL). If you place 3 orders and you have only one successfull trade, you will only loose 10 pips. The average success rate makes it very profitable (sometimes you will make 150 pips, sometimes you will loose 90 pips, and sometimes you won't place orders because the market is not good for this strategy).

 

Let me know what you think of this modified version.

Alexandre,

can please post your screenshot, helping me understanding your modified strategy.

Thanks :D