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Hi Joey, I didn't understand your 'two slightly up-trending', mine is decidedly down trending.

Is this anything to do with being in Oz?

 

Hi Freddie, perhaps I need to re-read the instruction better. For some reason, I am including the 6 to 7 candles prior to price started the down-trend, because these candles are still within the gray-colored time-band. And if I include these extra earlier candles, which has lower low than the more recent candles, that gives me the up-ward slope. I guess the question here is when do I start looking at the candles to include for drawing the channel lines?

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English not being my language, I am not very good at explaining. What I see in the 6 hours-long gray-colored time band, is the price first went up, then price came down. And I included both legs (up and down) in my drawing of trend lines.

 

But, it is probably a good idea anyway to take the more recent trend, (which is downward). And Freddie you should now be in profit of at least 10 to 15 pips too. Good for you.

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I am with you there. My take is: there is nothing 'magic' about any of this, no magic channels, we are just looking for something to break out from.

The "don't make triangles" instruction leads me to use the parellal (no better) line tool - equidistant channel.

I will do a two trend line pic and see. In the mean time we are up 20 at last view!!

 

Freddie

 

BTW there is a second area on the chart in black so not noticeable, I have made it light so that I can see it. Wonder what it is for?

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Here we are Joey, no difference in outcome:... Just noticed, the lines would let us in one bar later!!

 

http://i914.photobucket.com/albums/ac341/freddieforII/Chan2.jpg

 

Got to 25 before retreating.

 

Interesting system.

 

Freddie

Edited by Freddie
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English not being my language, You could have fooled me!

I am not very good at explaining. I understood exactly what you meant!

What I see in the 6 hours-long gray-colored time band, is the price first went up, then price came down.I agree and didn't know exactly what to do either!

 

And I included both legs (up and down) in my drawing of trend lines. But, it is probably a good idea anyway to take the more recent trend, (which is downward). Well we can see that there is so little difference but worth the discussion and the look!

 

And Freddie you should now be in profit of at least 10 to 15 pips too. Good for you.It went to 25 but has now come down a little. Maybe getting ready for another push?

 

Nice to talk to you Joey, excuse the ...'being in Oz' jibe, it is a Pom - Oz joke!!

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Nice to talk to you Joey, excuse the ...'being in Oz' jibe, it is a Pom - Oz joke!!

 

no worries about the "Oz" bit, the "joey" in my nick of "joeytrader" actually refers to a young kangaroo who frequents my neighbor's farm anyway, so I don't mind Aussie jokes.

 

Just wondering why the system is looking for a breakout out of the range prior to London open.

Still about 15mins to go until open

 

There has been many occasions of prices start moving before London opens. Perhaps it has to do with Frankfurt and European opening earlier?

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...There has been many occasions of prices start moving before London opens. Perhaps it has to do with Frankfurt and European opening earlier?

 

Could be since Frankfurt is 1h ahead of London...I somewhere read that Frankfurt is showing the direction for the day and London often reverses. Anyway, I'm beginning to beleave that you can go for breakouts anywhere on the chart with a time window of x hours

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There has been many occasions of prices start moving before London opens. Perhaps it has to do with Frankfurt and European opening earlier?

 

Sure that you are right. It is said that Frankfurt opening shows the way and London follow - equally Frankfurt goes one way and London promtly reverses it!!

 

Seems to be following today. The £Y went up to 40 from the 2nd candle close. It did 21 then back a bit now 40 and back. 30 and heading up at last look.

 

Freddie

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I am using Alpari UK and it is GMT +1, while IBFX is on GMT +3, so it depending on which broker at which timezone. It should be at GMT 7.00 according to the manual and based on IBFX chart time. You may want to adjust your channel time if this is not the case.

 

Ready to go long?

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I am using Alpari UK and it is GMT +1, while IBFX is on GMT +3, so it depending on which broker at which timezone. It should be at GMT 7.00 according to the manual and based on IBFX chart time. You may want to adjust your channel time if this is not the case.

Thanks, I have been trying to find out about that!!

That does make it 0800 UK time doesn't it?

 

Ready to go long? Not allowed, only one trade a day!! You do want to become a millionaire, don't you?

 

It says my message is too short!! So, with my wrong time, made it 0600 UK, it went to 80+ but that is just today!!

 

Freddie

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Yup, it ends up at 0800 London time.

 

Good for you Freddie.

 

That is the only trade that I have made, following the rules TP at 30 pips. Let's stick to the rules and be a millionaire in less than a year together.

 

p.s. I know if not following the TP, the pips count is still running ... 100 pips can be done. But be safe here.

 

Thank you to superfx for sharing such a promising system.

Edited by synergy
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Where can I get the manual from?

 

Thank you,

 

Chris

 

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Guest fxprofits

hi super fx,

 

would you please explain how to draw trendlines.. are they to be parallel or any dirextion.. plz explain.. and my broker timing is in gmt.. so what settings do i use for paramount indi?

 

thanks in advance..

 

That's it guys

Another perfect day

+30 Pips

If someone could put this in EA would be great ...

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Forex.com is Gmt+0. What should I use for beginning and end times? Please advise...

 

use Begin_1 = 23:00 and End_1 = 05:00 - but it seems because the times spans across 2 days, the channel stays Black-colored and the rest of the charts becomes colored. It is still usable for our purpose.

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