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.
It doesn't look like continuation any longer. But anyway it's profit. And I am taking it now completely.
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.
ForceFollower motleifaul
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.
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. :-)
motleifaul ForceFollower
Looks loke your consequent trend following pas out again.
ForceFollower motleifaul
I'm sorry, could you rewrite it? I have trouble understanding, what you mean...
motleifaul ForceFollower
Sorry: It looks like if your consequent trend following pays out again.
ForceFollower motleifaul
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?
motleifaul ForceFollower
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.
ForceFollower motleifaul
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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