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  • Post #10,581
  • Quote
  • Sep 27, 2011 1:50pm Sep 27, 2011 1:50pm
  •  dddd
  • | Membership Revoked | Joined Aug 2006 | 836 Posts
Quoting jeepill
Disliked
Set-ups forming AUDUSD, CADJPY - 4hour ..
Ignored
the cad/jpy, all i can see is daily setup. for the cad/jpy daily, the 61% fib is right on the s/r level.
for the aud/usd(i dont see it, care to post the chart. because the 61% fib is too far below from the S/R levels, this nullifies the trade.

one of the rules is that

If bullish, the s/r level cannot be below the 61% fib or above the 38% fib. It has to be 61% < x < 38 %

if bearish, the s/r level cannot be above the 61% fib or below the 38% fib. It has to be 38% < x < 61%

Where X = s/r zone. (let us assume that "<" means less than or equal to )
 
 
  • Post #10,582
  • Quote
  • Sep 27, 2011 2:27pm Sep 27, 2011 2:27pm
  •  jeepill
  • | Joined Aug 2011 | Status: Member | 26 Posts
Thanks I am still learning - please can I ask a question - let's consider the AUDUSD, the immediate swing before the last swing to the downside has support line not anywhere near the 61 level but can one consider a longer term support line in this case a much earlier one (august 08th)?
Attached Image (click to enlarge)
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Service to Man is service to God.
 
 
  • Post #10,583
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  • Sep 27, 2011 2:32pm Sep 27, 2011 2:32pm
  •  mtrader123
  • | Joined Sep 2011 | Status: Member | 171 Posts
Quoting dddd
Disliked
i thought the trade has already completed itself yesterday for gbp/cad. The retracement low was at 1.5915 right inbetween the 50 and the 61 with the S/R level at 1.5950 RN (check highlighted blue box on chart)
Ignored
dddd, thanks for commenting. Could you please tell me as I am an absolute rookie what did I do wrong with GBPCAD in connection with the Hector strategy? Why was the trade invalid? Because today's retracement went way too far and matched yesterday's retracement (blue circles at my picture)?
Attached Image
 
 
  • Post #10,584
  • Quote
  • Sep 27, 2011 2:35pm Sep 27, 2011 2:35pm
  •  dddd
  • | Membership Revoked | Joined Aug 2006 | 836 Posts
Quoting jeepill
Disliked
Thanks I am still learning - please can I ask a question - let's consider the AUDUSD, the immediate swing before the last swing to the downside has support line not anywhere near the 61 level but can one consider a longer term support line in this case a much earlier one (august 08th)?
Ignored

If you must, then, the 100% of your fib(the beginning of your fib) will have to start at 1.0763. you will have to switch to daily time frame...with the weekly time frame guiding the trend...and the weekly time frame is bullish, not bearish.
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Name: ScreenHunter_03 Sep. 27 14.37.jpg
Size: 247 KB
 
 
  • Post #10,585
  • Quote
  • Sep 27, 2011 2:48pm Sep 27, 2011 2:48pm
  •  jeepill
  • | Joined Aug 2011 | Status: Member | 26 Posts
Great, thanks DDDD - appreciate your helpful guidance.
Service to Man is service to God.
 
 
  • Post #10,586
  • Quote
  • Sep 28, 2011 2:27am Sep 28, 2011 2:27am
  •  mtrader123
  • | Joined Sep 2011 | Status: Member | 171 Posts
I have just gone long on GBPJPY 1h based on a triangle breakout. See the attached chart (15min GBPJPY).

Comments are welcome.
Attached Image (click to enlarge)
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Name: GBPJPY.jpg
Size: 338 KB
 
 
  • Post #10,587
  • Quote
  • Sep 28, 2011 2:40am Sep 28, 2011 2:40am
  •  dddd
  • | Membership Revoked | Joined Aug 2006 | 836 Posts
Quoting mtrader123
Disliked
I have just gone long on GBPJPY 1h based on a triangle breakout. See the attached chart (15min GBPJPY).

Comments are welcome.
Ignored

i do not understand the WHY of your trade at all. I cant make sense of it.

just my humble opinion.
 
 
  • Post #10,588
  • Quote
  • Sep 28, 2011 3:03am Sep 28, 2011 3:03am
  •  mtrader123
  • | Joined Sep 2011 | Status: Member | 171 Posts
I would appreciate your comments as of why is this a bad trade. I'd like to learn from somebody who's got lots of experiences with this strategy.

My reasons: 3SMA in the same direction, pointing up on 1h TF, round number near the bottom of last retracement (119,50), it also was between the 31 and 50 Fibo level from the last retracement (118,50). The price was also near the dynamic area of S/R and I spotted a triangle on the trigger chart (15min GBPJPY). There were no news announcements ahead of my trade, no big S/R levels on higher timeframes.
Maybe the breakout-pullback-continuation pattern was not that clear.

What do you think,dddd? What did I do wrong?

Ups, I got stopped out again. You were probably right.
 
 
  • Post #10,589
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  • Sep 28, 2011 3:26am Sep 28, 2011 3:26am
  •  dddd
  • | Membership Revoked | Joined Aug 2006 | 836 Posts
Quoting mtrader123
Disliked
I would appreciate your comments as of why is this a bad trade. I'd like to learn from somebody who's got lots of experiences with this strategy.

My reasons: 3SMA in the same direction, pointing up on 1h TF, round number near the bottom of last retracement (119,50), it also was between the 31 and 50 Fibo level from the last retracement (118,50). The price was also near the dynamic area of S/R and I spotted a triangle on the trigger chart (15min GBPJPY). There were no news announcements ahead of my trade, no big S/R levels on higher timeframes.
Maybe...
Ignored

check this out: http://www.forexfactory.com/showthre...96#post4120696

i think it will help. Watch those videos.
 
 
  • Post #10,590
  • Quote
  • Sep 28, 2011 3:43am Sep 28, 2011 3:43am
  •  dddd
  • | Membership Revoked | Joined Aug 2006 | 836 Posts
gbp/usd h1 is closer....but not good enough, in my opinion.

Quoting mtrader123
Disliked
I would appreciate your comments as of why is this a bad trade. I'd like to learn from somebody who's got lots of experiences with this strategy.

My reasons: 3SMA in the same direction, pointing up on 1h TF, round number near the bottom of last retracement (119,50), it also was between the 31 and 50 Fibo level from the last retracement (118,50). The price was also near the dynamic area of S/R and I spotted a triangle on the trigger chart (15min GBPJPY). There were no news announcements ahead of my trade, no big S/R levels on higher timeframes.
Maybe...
Ignored
 
 
  • Post #10,591
  • Quote
  • Sep 28, 2011 3:56am Sep 28, 2011 3:56am
  •  mtrader123
  • | Joined Sep 2011 | Status: Member | 171 Posts
Quoting dddd
Disliked
check this out: http://www.forexfactory.com/showthre...96#post4120696

i think it will help. Watch those videos.
Ignored

Thank you. I have been watching the videos and even downloading them. One never knows when Yaguex shuts down his youtube account... But is there anything concrete I overlooked in my trade? If you could point me to it I would be very grateful.
 
 
  • Post #10,592
  • Quote
  • Sep 28, 2011 4:08am Sep 28, 2011 4:08am
  •  dddd
  • | Membership Revoked | Joined Aug 2006 | 836 Posts
Quoting mtrader123
Disliked
Thank you. I have been watching the videos and even downloading them. One never knows when Yaguex shuts down his youtube account... But is there anything concrete I overlooked in my trade? If you could point me to it I would be very grateful.
Ignored

i send you a PM.
 
 
  • Post #10,593
  • Quote
  • Sep 28, 2011 3:12pm Sep 28, 2011 3:12pm
  •  mtrader123
  • | Joined Sep 2011 | Status: Member | 171 Posts
Quoting dddd
Disliked
i send you a PM.
Ignored
Thanks. I would like to respond via PM, but for some reason I cannot send any private message.

If you could name just one mistake I made that would be great. I realized that the trend was probably too young.

If possible please post from time to time your setups so that we beginners could learn from experienced traders. Thank you in advance..
 
 
  • Post #10,594
  • Quote
  • Oct 3, 2011 1:56am Oct 3, 2011 1:56am
  •  mtrader123
  • | Joined Sep 2011 | Status: Member | 171 Posts
Jeepill, thank you for your PM. I replied but the message does not show in the sent mailbox. Did you receive it?
 
 
  • Post #10,595
  • Quote
  • Oct 3, 2011 2:31am Oct 3, 2011 2:31am
  •  mtrader123
  • | Joined Sep 2011 | Status: Member | 171 Posts
Today in the morning, I am watching EURCAD h4, GBPCAD h1, EURGBP m30, AUDJPY h4. Anybody's got something else?
 
 
  • Post #10,596
  • Quote
  • Oct 3, 2011 4:43am Oct 3, 2011 4:43am
  •  mtrader123
  • | Joined Sep 2011 | Status: Member | 171 Posts
EURUSD m30 and NZDUSD m30 seem to be interesting as well. The price touched the dynamic area of S/R.
Attached Images (click to enlarge)
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Name: eurusd30m.jpg
Size: 133 KB Click to Enlarge

Name: nzdusd30.jpg
Size: 143 KB
 
 
  • Post #10,597
  • Quote
  • Oct 3, 2011 5:45am Oct 3, 2011 5:45am
  •  shomari
  • Joined Jun 2008 | Status: Trade Life !! | 497 Posts
anything in usd or jpy crossed with cad,aud, nzd, in the h4is prettymuch what I'm seeing this week.
 
 
  • Post #10,598
  • Quote
  • Oct 3, 2011 5:47am Oct 3, 2011 5:47am
  •  mtrader123
  • | Joined Sep 2011 | Status: Member | 171 Posts
Quoting shomari
Disliked
anything in usd or jpy crossed with cad,aud, nzd, in the h4is prettymuch what I'm seeing this week.
Ignored
I agree. Have you been trading this method profitably?
 
 
  • Post #10,599
  • Quote
  • Oct 3, 2011 8:01am Oct 3, 2011 8:01am
  •  mtrader123
  • | Joined Sep 2011 | Status: Member | 171 Posts
Today I banked another loss (4th in a row). I went long eurcad 4h at 1.4014 with SL at 1.3979 below the event that pulled me in. Attached are the setup chart and the trigger chart (1h).

Reasons for entry: break out of a trendline from below, BPC, dynamic area of S/R was touched, previous swing high, RN, 3SMAs pointing up, 50% fibo from previous swing low.

The trend is IMHO still there, setup still valid, maybe I will get another chance..

Anybody would like to comment?
Attached Images (click to enlarge)
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Name: eurcad4h.jpg
Size: 293 KB Click to Enlarge

Name: eurcad1h.jpg
Size: 310 KB
 
 
  • Post #10,600
  • Quote
  • Oct 3, 2011 8:37am Oct 3, 2011 8:37am
  •  shomari
  • Joined Jun 2008 | Status: Trade Life !! | 497 Posts
this systemis absoutely profitable. It took a while to work out the kinks, but ya, serious money can be made.
 
 
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