motleifaul
Long

Hope for continuation

FX:CADJPY   Canadian Dollar/Japanese Yen
93 10 0
The potential for a bigger retracement after this deep fall is there. But a rise towards the median line at least seems reasonable.
ForceFollower
2 years ago
Perhaps it will go up, but, as you know me regarding the trends, I admit I'm still short here, not ready to go long yet. :-)
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motleifaul ForceFollower
2 years ago
Looks loke your consequent trend following pas out again.
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ForceFollower motleifaul
2 years ago
I'm sorry, could you rewrite it? I have trouble understanding, what you mean...
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motleifaul ForceFollower
2 years ago
Sorry: It looks like if your consequent trend following pays out again.
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ForceFollower motleifaul
2 years ago
Thank you. But I've always thought you were also a trend follower, because in all of your charts you use the Donchian Channel. That's one of the reasons why I followed you in the first place. :-) And I also think other people may think likewise. But what I discovered much later on is that you do not seem to be using this channel in a purely classic way... Or do I have it wrong?
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motleifaul ForceFollower
2 years ago
Initially I was using the DC in the traditional manner, but it seemed to me that compared to other indicators it reacted rather slowly. So I decided to change the default value into a wider range making it even slower. Now I consider it as a medium term trend indicator for swing trades. It showes long lasting trends and a possible overbought/oversold status.
But you brought me to an idea. Perhaps I should combine both the classical and my slow method for better results. I just checked it out with an exemple and perhaps it will work.
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ForceFollower motleifaul
2 years ago
I'm glad to hear that. I wish you all the best with your research. ;-) I believe you'll come up with a very good strategy.
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motleifaul
2 years ago
I am taking a first part of the good profit out now.
My mouth is watering for more on the bulk of the remaining position.
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ForceFollower motleifaul
2 years ago
Yes, your idea is working very well, contrary to my expectations, but that's fine with me - I could see the yen weaken recently, so I stepped aside.
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motleifaul
2 years ago
It doesn't look like continuation any longer. But anyway it's profit. And I am taking it now completely.
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