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pipimo88 Nov 9, 2009 12:42pm | Post# 13441

done with GU short...
 
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Took +50. Figured London is done and the last move Fib completion (138.2) coincided with the 1.6700 area. I FINALLY get it when BillyRay would say "I didn't like the price action... so I closed it". It feels great to actually know why you're doing what you're doing. I owe it to this thread and BillyRay... BIG TIME! I guess I'm so new here that I don't know any better BUT to follow the rules of the method. I'll keep posting.

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booker66 Nov 9, 2009 3:27pm | Post# 13442

Here's A/U on 5M... buy limit at .9275 (with trend, so will let it go a bit). Confluence of S/R level and 50 Fib. (GU short from above post just triggered)

Attachment 356796
hey pipimo88..
nice charts... ive been short from 93 since 13.00 uk time .. hardly moved .
didnt quite make your order by the looks of it .. wish it would.. just want to make a few pips and get out of there .. starting to do my head in .

pipimo88 Nov 10, 2009 6:24am | Post# 13443

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Pfffft... Got up for London, expecting a repeat performance from yesterday and they just sat there passing the crack pipe for 3 hours.

Got a good close above my level on E/U (1H). Now long. Targeting the 1.5045 area. But with this lack of action, if I get a close below 1.5000... I'm jumping ship.

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pipimo88 Nov 10, 2009 7:59am | Post# 13444

Must man-up to this one. Got out at (-22). What I was "thinking" is the pattern BillyRay calls "stacking bricks". Price consolidating in one level, then moving up to the next level. What I was NOT clear on was (which means I should not have entered): Do we enter when the bar closes like it did... bullish bar into next level? or Do we wait until it actually breaks into the level... closes another bar confirming old resistance now support... and THEN enter on pullback to the level? Anyone use that strategy?

RedCabbage Nov 10, 2009 8:32am | Post# 13445

Previous daily high/low
 
Must man-up to this one. Got out at (-22). What I was "thinking" is the pattern BillyRay calls "stacking bricks". Price consolidating in one level, then moving up to the next level. What I was NOT clear on was (which means I should not have entered): Do we enter when the bar closes like it did... bullish bar into next level? or Do we wait until it actually breaks into the level... closes another bar confirming old resistance now support... and THEN enter on pullback to the level? Anyone use that strategy?
The significant selling at 15021 yesterday leaving a pin bar (H1) as the daily high was your enemy on this one.

Trading the previous day high/low is usually a high probability set up if there was significant action there last visit.

pipimo88 Nov 10, 2009 9:40am | Post# 13446

got it back
 
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wow... I really like the "over/under" pattern. It's very easy to understand and implement. Yesterday's GU entry was with -1 drawdown and this one just now on EU was with -6. This pattern requires very little interpretation.

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RedCabbage Nov 10, 2009 10:40am | Post# 13447

wow... I really like the "over/under" pattern. It's very easy to understand and implement. Yesterday's GU entry was with -1 drawdown and this one just now on EU was with -6. This pattern requires very little interpretation.

Attachment 357788
My favourite!

http://www.forexfactory.com/showpost...ostcount=13123

RedCabbage Nov 10, 2009 10:52am | Post# 13448

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The significant selling at 15021 yesterday leaving a pin bar (H1) as the daily high was your enemy on this one.

Trading the previous day high/low is usually a high probability set up if there was significant action there last visit.
Here's another example - AU double top off previous daily high at major s/r.
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pipimo88 Nov 10, 2009 11:07am | Post# 13449

My favourite!
Quasimoto... eh? Do you scan for it specifically? Like on different timeframes?

RedCabbage Nov 10, 2009 11:15am | Post# 13450

Quasimoto... eh? Do you scan for it specifically? Like on different timeframes?
Yes, just like head and shoulders.

pipimo88 Nov 10, 2009 11:32am | Post# 13451

two-fer
 
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Double Quasi for me today ... I was so busy zooming in and looking for the next setup and didn't even see the giant Quasimoto right in front of me. Got in a bit late but got it to b/e quickly. Also, might have gotten a bit too ambitious on the t/p but I'll let it run it's course. Sleep time. Getting up for London open is not pleasant.

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RedCabbage Nov 10, 2009 11:35am | Post# 13452

Double Quasi for me today ... I was so busy zooming in and looking for the next setup and didn't even see the giant Quasimoto right in front of me. Got in a bit late but got it to b/e quickly. Also, might have gotten a bit too ambitious on the t/p but I'll let it run it's course. Sleep time. Getting up for London open is not pleasant.

Attachment 357922
QuasiMODO, he's a man not a motorbike!

booker66 Nov 10, 2009 2:54pm | Post# 13453

eurusd5min
 
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quasi... who!
i just know them as bog standard 76% retracements .. is there something different about a quasi..?

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RedCabbage Nov 10, 2009 5:25pm | Post# 13454

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quasi... who!
i just know them as bog standard 76% retracements .. is there something different about a quasi..?

Attachment 358062
Assuming you are familiar with the head & shoulders pattern, over and under or quasimodo is a mutated head and shoulders. The shoulders should be level but the right hand neckline is lower (or higher when inverted) than the left hand side thus suggesting a new bias.
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booker66 Nov 11, 2009 7:51am | Post# 13455

Assuming you are familiar with the head & shoulders pattern, over and under or quasimodo is a mutated head and shoulders. The shoulders should be level but the right hand neckline is lower (or higher when inverted) than the left hand side thus suggesting a new bias.
I see what youre saying ..will have to read up on these patterns .

thanks cabbage .

pipimo88 Nov 11, 2009 11:20am | Post# 13456

looking at EU
 
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Here's what I'm looking at on EU currently (5M). Has support from the higher timeframe at 1.4961. This coincides nicely with the "lower shoulder" of the QuasiMODO pattern. Expecting a big bounce.

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pipimo88 Nov 11, 2009 11:38am | Post# 13457

Entered long at 1.4965 (with smaller lots - in case it broke - and with only a 10 pip stop). Drawdown was -5 and now at break even. Target is 1.5005 but will watch to see how it behaves approaching the 1.5000 level (if it gets there).

EDIT: 5M made an inside bar, so I took 10 and ran

Interceptor Nov 11, 2009 5:14pm | Post# 13458

GBP/CHF
 
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Arriving back at a significant area.
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pipimo88 Nov 12, 2009 9:43am | Post# 13459

over/under pattern...
 
Those who have more experience trading the "over/under" pattern... Would you say that it is reliable enough to trade in and of itself or would you take it only if the entry point is in confluence with a historically reactionary level? I realize that if there is confluence with a level it would increase the probability of the trade working out. Just wondering if you found it reliable enough to trade on its own.

Interceptor Nov 12, 2009 11:18am | Post# 13460

GBP/CHF
 
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Turned out nicely.
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