Also targets you can use the last swing high to low that broke on say the 5min TF and exit at 126.2 or 161.8 or the 34 EMA on the next/higher TF. If it was a 100 bounce then 50CCI closing below the 100 line is another example. If your entry was a 5034 long, then you could possibly exit when that 5034 fails, 50CCI closing below 0 etc. For stoploss and or targets, you can use the CCI setups. 50CCI is still a favourite of mine though.
5034, 5034z, 5014, +/-100 bounce etc all work very well, but so do a lot of systems just depends on who is driving it. That setup did give you lots of chop if you just took every signal on the 3min and werent careful, however moving to a higher multiple TF combo or really sitting on ones hands on the 3min and only taking the best setups would improve the hit raiot a lot. Ideally you take a setup on the 3min as long as it is supported or supports a move on the 15min TF and the hourly CCI allows the trade (above 0 for longs and below 0 for shorts etc, cant take longs when hourly 50CCI is below 0 etc). I tried the 50CCI out and it is good, although at that time I was 3min/15min/60min taking setups with permission of the 50CCI depending on where it was on the hourly TF. The loser on the right of the chart is a news bar, which I would not have traded anyway. Bob couldn't make up his mind about when to exit either. The CCI 14 dips below -75, moves upward and crosses zero.Įxits are up to you. Slingshot- The CCI 50 is above its zero line. Then either the CCI 50 or CCI 14 falls below +100 and shoots back up.ģ. First Zero Line Reject after the CCI 50 crosses above zero. The CCI 14 must also be above its zero line and price must close above the 34EMA.Ģ. There are three types of entrance signals. Although it looks good on all time frames.
The breaks across 0 are a lot cleaner with forex. It seems to work really well- better than it does with futures. I don't believe I've ever seen it seen it applied to forex before. Bob used to be a regular around Woodie's CCI Club and as far as I know, he devised this method. Let me say first, this is not original with me.
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