josi wrote: Fri Mar 27, 2020 7:18 pm
It will be very interesting to see how this works out.
We are back in the range of the 26th before price broke up.
There seems to be little room downward in the very short term.
Price very much looks as if it is in no man's land right now - so consolidation because the market is undecided.
But medium term (as far as M15 can be seen as such) it might also be what Wyckoff called the distribution phase.
And may I ask: why SL 22610 - to me it looks as if the sell bias disappears much earlier than that.
And if your directional bias has to change the sell is no longer valid and should be exited.
As to your histo-indi: is it based on MAs? If it is - I don't know but it looks as if it might be - then it won't give valid signals while price is in a range - MA-signals don't work in ranges, at least not in any tradable way that I can see (price action - extremes - or oscillators would give a better signal during ranges).
And then, of course, the decisive aspect: the Xard-system is a trend following system: are we in a downtrend right now?
We have lower highs but do we have lower lows?
Do you use a fixed TP?
I hope you don't think my questions are meant as criticism. They are decidedly not.
I admire that you ALONE have the guts and the seriousness to trade live and show it to people in order to improve the system.
And I hope you will continue in order to make us all better and more proficient traders.
Hi guys, just dropped in. I have my own doubts on the direction Xard took with the grail series (much pleasing visually, but partly sacrificed my beloved pullback-approach), so I started a separate MT4 for the Grail-series. I had problems reserving consistency regarding the old one, so I replaced it with your System.zip as it seems more robust than my leftover-mix.
Regarding the recent trade: I agree with both of you in some aspects. This is a valid sell trade for me, but with less exposure, faster management (waves are a bit shallow, and I'm cautious with playing for reversal)
Pullbacks can be treated a bit riskier, but faster way, and more securely. Following the first approach (considering short) you just need a lower high mostly confirmed (Implant's justification is enough for this). The more conservative, secure, but later entry is to wait for a lower low, too (Josi's legitimate concern); by now we have that, too. Still we can only have a complex correction and price can turn the other way, hence the tight SL, and
I have some partly subjective factors to justify the downward bias:
- Murray Math: coming from 8/8th
- it's Friday in a volatile environment
SL: I totally agree with Josi, this trade fails at getting over the 2nd dot -> SL at around 22450
TP: in volatile, sharp environment I would use TP and wouldn't follow the price: 161,8 Fibonacci on previous swing (the increase from 1st white dot to 2nd).