mxb1961

mxb1961

Monthly A buy trigger was signaled on close of June 2016. Price had remained below this level but has closed above it in May 2017 and is above it now half way through June. Indicators are bullish. Weekly Price has been in a consolidation pattern from November 2016 thru March of 2017 where there was a breakout. A buy trigger was signaled on close of week...

mxb1961

Monthly Close above 38.15 will be progress on bullish change on monthly chart. DMI -DI still up but ADX has been trending down signaling trend weakening TRIX moving up but still below 0 Stoch coming off oversold readings and trending up Weekly Price has been consolidating since July of 2016. However, a buy trigger was signaled on 5/8/2017 at 38.94...

mxb1961 Updated 

The monthly cornusd chart looks like it is setting up a base for a new uptrend to begin. October '15 new resistance->support line at 3.502. Price has closed and held above this line for past 4 months. +DI up and ADX is rising though still below 0 TRIX divergin with price since 2014 with 3 points of focus Stoch coming off oversold and moving up Weekly...

mxb1961 Updated 

SUGARUSD:OANDA Weekly Chart A-E are similar to A-C above. F. This is another example of a DI becoming dominant in a pullback but for only a brief period of time. Notice how (A) gave a signal but that an exit was quickly signaled. After the pullback (B), then (C) gave a new entry signal to long side for many weeks before TRIX signaled a potential cover of the...

mxb1961

Monthly Points of interest 'A' and 'B'. A similar pattern in price, TRIX, and Stoch with the key difference in the DMI. With 'A', the DMI is bullish which I believe limited the downward movement of price and kept the TRIX above 0 which formed the based for the ensuing bull run. With 'B', the DMI is bearish and the ADX, in the past 2 months, has begun to trend...

mxb1961 Updated 

AUDUSD ADX: Signaled price consolidation starting week of 3/27/2017 DMI: The week of 01/09/2017 a buy trigger was set at .7493. For the next 15 weeks, this line held price. However, on 04/03/2017 a sell trigger was set at .7501. Although price has closed below this line since then, it has still been held in check bu a non-trending ADX below 20. TRIX: Below...

mxb1961 Updated 

Overall, market is down but could be in final stages of down trend from 2012 highs Monthly Chart In the March/April time frame, the DMI changed to where the -DI is dominant. The ADX continues to trend down signaling whichever dominant trend is not that strong. Current targeted support is 8.910. Though, there is an area in the +/-8.000 range that has provided...

mxb1961

The monthly wheatusd chart looks like it may be setting up a potential long term bottom. +DI has crossed above -DI and has put in a solid support line at 4.090 holding for past 4 months ADX has continued to trend up signaling a strengthening of dominant trend (+DI) TRIX has been moving toward 0 from negative Stoch, after being oversold for past year, has...

mxb1961

Part 1 can be found here: Key Tenants DMI is used as a triggering mechanism to establish support->resistance or resistance->support lines TRIX used to identify targets to exit and re-enter and on-going trend (if the DMI indicates a down trend, the a negative cross of TRIX over HMA would indicate a level to short Divergence can happen in both DMI and...

mxb1961

This idea outlines a strategy for entering and exiting trades in a market using the DMI with ADX, TRIX with a HMA, and Stochastics. I use the indicators with the same parameters across all time frames. I've spent some time experimenting with the TRIX and HMA but have settled with 5 and 10. In some of the examples, you'll see 7 and 14 but for the most part they...

mxb1961

Weekly crude oil has broken through the channel that I've been tracking since July last year. This week, I'll be looking at initial strength in the market first part of week as an opportunity to buy OTM Puts as I'm expecting prices to continue down. If this plays out, my next targets on weekly will be 44.10/43.17/41.37. Should these fall, next range will be...

mxb1961 Updated 

I'm currently on the side with USOil but looking for a pullback to continue to the 49.9x-50.1x range before moving down further. 4hr chart since 3/14, has been correcting from it's drop from the 54.8x range. I'm looking for price to pull back into the 49.9x to 50.1x range before moving down to my next target of 44.7x. I'll be watching for the following...

mxb1961

Weekly Platinum is consolidating setting up for a breakout to the upside. Looking at current support at 886.8xx. If support holds at this area, price should continue up based on rhythm of TRIX and TSI. Monthly TSI and TRIX are turning up. A breakout of price from current weekly consolidation looks to be to upside. Daily chart with weekly consolidation...

mxb1961

This is based on my continued study of Renko charts. What follows are thoughts on how I would change my trading behavior and not because I've been successful making $$$ trading this strategy. Also, parts of this is original thoughts but the initial Renko strategy is based on work and ideas shared by @GcNaif. I currently have a short position in Wheat based on...

mxb1961

Based on the ADX and TSI, I think that bean meal is setup to make a run at the highs from last year if not the gap on the SM1! chart from June 2014. weekly price has found support on 100EMA and has pushed through 200EMA already but has pulled back.

mxb1961 Updated 

Since the first of November, NGAS has had a nice run up but now appears to be pulling back for a correction. As part of my learning Renko Charts, I've created three views of NGAS: Daily TF: source/close | style/traditional | blksz/.050 2Hr TF: source/close | style/traditional | blksz/.025 5Min TF: source/close | style/traditional | blksz/.010 With the price...

mxb1961 Updated 

Some thoughts for the coming weeks. Borrowing 14 month cycle from @smitheric1970 chart (red vertical lines on chart) and considering the previous chart posted that showed ATR reading from 2014 and now. Since the last 14 month low on 2016/02/17, there have been 4 instances when ADX has moved below 20 (A-D). (A) was brief so won't be considered as usually you...

mxb1961

Some of the following ideas are based on concepts outlined in this link: forexformation.com And, from the book "New Concepts in Technical Trading Systems" by J. Welles Wilder, Jr. In my previous ideas on renko charts, my main goal was to identify price consolidation based on ADX and then trade the breakout. In this idea, I'm going to add another concept which...