I'm using a 150t chart with woodies CCi and a MACD. Also a 100 SMA and a SMMA 20.
On the 9 Range Chart I have heikenAshi a 100 SMA a 50 SMA and a 34 EMA and a swing indicator as well as woodies piviots
On the 60 minute chart I have a 34 SMA and a 100 SMA
I want to say that all these moving averages and on and on are great. But it's whatever works for you. It looks good to me, and I really do not think it has a hills bean of difference rather it's a sma ema, or whatever.
My Method
I'm observing the first 60 minutes of the day, and thats my IB. Depending upon the trend on the 9 range chart I will take signals before the first hour is up in the direction of the trend indicated by the range chart.
Today their where 3 of those, all three profitable. I'm buying two contracts with a 9 tick stop and a target of 12 on the first and 25 ticks on the last.
My signal is on the 150 tick chart. When the CCI comes to the negative 100 line and the back through it. Now I use the MACD to help with any false signals from the CCI.
I stoped trading today around 12:00 because it just did not want to go up, and continue on past the IB high, and it did not want to go down and test the IB low either. Just went into chop.
The trades
Trade 2 was a zero line reject, and it was impulsive. Not what I exactly had in mind, but the MACD was strong and I was willing to take that chance on the chance that it make the high and go go go.
Trade 5, well it broke the high, and same thing. I was willing to risk it on the chance that it would go go. I jumped out when it even acted like it was not working.
Trade 6 broke even on 2 contracts. Trade 7 I lost 9 ticks. And on trade 8 I made 5 ticks. At this point on trade 8, when if failed to make the high of the day, or even test it, I was done unless the trend turned down, or the high was taken out.
The two yellow lines on the 150 tick are the 60 minute IB high and low. I'm sure their is lotst I left out, and I gotta say marking up a chart and typing all this out kind of blows.:faint: