opie999

I've been testing Mouteki almost exclusively for over a month or so now.

These are my last three trades. Three good demo trades using strict Mouteki entry signals and nothing more. Could have been a fourth if I'd used any sense. Entries in drk blue; exits in gold.

Exits determined by pure guesswork. Not good practice I know but I'm happy with the results nonetheless. Next time I'll have the exits calculated as per Mouteki and see if that gains me any extra pippage.

http://i175.photobucket.com/albums/w.../Mouteki_1.png

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Jude

Woot, thanks for sharing opie.

Actually I like Mouteki's way of teaching. Especially the suppy and demand part which makes absolute sense to forex.

and good luck with the rest of your trading month!

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Jude

Maybe you can try drawing a longer trendline on a longer duration chart to see where's the long term Support and Resistance?

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Optional

Nice work Opie!

How many pairs do you follow and how long does it take you each day to draw your charts at the moment?

Why didnt you calc the exits btw? Does it take that much time?

Opti

jbone

Hey opie999,
I understand how you drew the support line in your first chart but not the other charts. . I thought that Mouteki says that true points of support are only those which low has two candles to the left of it and two candles to the right of it which lows do not exceed the low you are using.

Dan

Hello Oppie,

DeMark trend lines (aka Mouteki for ForexFactory members ) are very popular even for the big dogs, so it makes sense to use them on a regular basis. They work!

Your EUR/USD, GBP/USD DeMark trend lines are not drawn correctly.
Simplest way for me to explain. (DeMark) trend lines are useful to spot the trend and to correctly identify trend or side-ways trading breakouts.
Nevertheless your entries were good, and the two trades ended up in profit. That's the result of another pattern - trend continuation or trend acceleration - when the price brakes through the lower trend line of it's downward trending channel.

Happy trading...don't forget to add price action to your trading knowledge.

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Dan

Here's the most recent USD/JPY Mouteki trade. It just hit the profit target.

Attached Images

usdjpy mouteki trade.jpg (26.6 KB, 13 views)

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