walking through a trade

entry point, stops, adjustment point and exit point. GBP/JPY

Replies to This Discussion

Permalink Reply by Adam Horak on July 23, 2009 at 12:33pm

Ram;

ill send you an email with the info in addition i will also send you a couple more trades that i did this week so you can see the set up on a few different trades. they all use the same fund, tech and money management set up.

thanks adam

Ram Parkash said:

Adam,

Please see the attached Chart, its as above. I can nnot make out your notes that you have wriiten on the chart. Would you be kind enough to enlarge the notes so that i can read the notes.

I appreciate your help in this matter.

Ram

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Permalink Reply by ramakant on November 28, 2009 at 9:21am

Hello adam horak,

The support and resistance which are used in this software in 1min, 5min and 10min timeframes are different from the daily support and resistance levels used in MT4.
What indicator is used for these s/r values in 1min, 5min , 10min, 15min chart.
Can you please explain?

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Permalink Reply by Adam Horak on December 1, 2009 at 9:22am

Ram;

Good to hear from you... im not exactly sure im understanding your question... but i will attempt to answer what i think it your looking for.

your AI software users two levels of support and resistance, L1 support and L1 resistance are a mathematical compilation of price during a specific time frame allowing you to recognize the most resent levels of support and resistance. L2 support and resistance recognize the previous highs and lows during the time frames you have on your trading screen. I have found what AI uses to be much more accurate then any levels of support and resistance by MT4. hope this helps.

Adam

ramakant said:

Hello adam horak,

The support and resistance which are used in this software in 1min, 5min and 10min timeframes are different from the daily support and resistance levels used in MT4.
What indicator is used for these s/r values in 1min, 5min , 10min, 15min chart.
Can you please explain?

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Permalink Reply by PJ Shimkonis on November 15, 2010 at 6:19am

Just looking at your GBP/JPY chart, the only %b lower than 20% on a sell period is at the second quarter of your chart with the bars walking down. John Bollinger states tags of the bands are not always indicators to buy or sell. Mr. James Dicks states that a confirmation of a double bottom and double top occurs when the short trend reaches the middle band. I find it very interesting how the bar candles tag the upper or lower bands, called double bottoms or double tops.

I would call them double upper tags or double lower tags of the bands! How the bar candles walk the bands so-called after a confirmation is not easy to determine.

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Permalink Reply by PJ Shimkonis on February 25, 2011 at 10:46pm

How the price bars move in accordance with the lower Bollinger band in a downtrend and with the upper band in an uptrend is always an interesting subject. Trendline determination is greatly increased through using Bollinger bands. Midband crossovers can mark the end of the bandwalk by signalling a trade confirmation when the middle band is crossed over.

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Permalink Reply by PJ Shimkonis on May 27, 2011 at 4:15am

I would imagine there are only two adjustment points, the entry point and the adjustment point. I usually exit a trade before I allow it to extend to the 2nd adjustment point when trading the GBP/USD. I'd like to be able to walk the entry, stop, adjustment and exit without having to extend my trading. Very key Bollinger chart you have above, Adam. Now let's get back to Premiere Trade.