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Off Road System

  • #1,281
  • Apr 26, 2015 2:28pm Apr 26, 2015 2:28pm
Quoting Patron
{quote} Thank you Patron for showing the Day chart - I had not checked the Big Picture when I proposed the trade. Having looked at the higher timeframes, my view is now cautious; this situation is not clear, I will see what happens at open, and maybe look for a clearer opportunity. I have a question about volume - I cannot get volume(number of trades) information, so can I judge volume based upon the High to Low distance of the candle? I understand that you mean the range of candles. The range of candles indicates volatility. The volume indicates...
There may be a lot of liquidity and low volatility over a period of consolidation, accumulation, distribution.


The volume is closely related to the smart money trying to adopt the best positions from the best sites.

The volatility is more common at the beginning of the sessions at the beginning of the news, and is more related to the emotional part of the trader.
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  • #1,282
  • Apr 27, 2015 3:02am Apr 27, 2015 3:02am
EURUSD M1.

I have tried the market condition of this pair as lateral trend. From there, I took scalping decisions at that level through technical analysis.

Quota reached, +54 pips.
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  • #1,283
  • Apr 27, 2015 10:46am Apr 27, 2015 10:46am
EURJPY M5

Lateral trend can change to uptrend ... scalped to R1 (resistance)

I waited for a break after the beginning of the American session, because it seemed safer.
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  • #1,284
  • Apr 27, 2015 10:57am Apr 27, 2015 10:57am
AUDUSD M5

I lost the chance to make this trade, which seemed easy, but was distracted.
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  • #1,285
  • Apr 27, 2015 11:33am Apr 27, 2015 11:33am
phew, it was a hard day for me...

In the morning, I was bullish for the AUDUSD and EURUSD. so I longed the aussie at the lowest point, but got stopped out at BE.

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then I went to EURUSD, longed it a couple of times. but I got kicked out every time I longed it. and finally I was able to catch the move and I got out at about the RN and went into profit for about 40 pips. if I didn't take so many losses before that (about -130 pips) I would keep my trades till my target which just hit a moment ago (1.0925) and I could have ended my day at about +200 pips...

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now I'm short again by the way...
  • #1,286
  • Apr 27, 2015 1:03pm Apr 27, 2015 1:03pm
Quoting isengoz
...now I'm short again by the way...
now that I'm up about 40 pips on average, I pulled my stops to BE. I can sleep comfortably now...

Attached Image (click to enlarge)
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see you tomorrow...
  • #1,287
  • Edited 10:34pm Apr 27, 2015 2:57pm | Edited 10:34pm
Quoting isengoz
{quote} now that I'm up about 40 pips on average, I pulled my stops to BE. I can sleep comfortably now... {image} see you tomorrow...
I always say that the stoploss are sacred, and respect for them is part of the Holy Grail when it comes to success in this business.
My criteria for stoploss is a function of volatility, as well as the proximity of higher-order fractals.
Leveraging your work on the EURUSD, I will give an example of how he had placed the stoploss. If we use the volatility that had at that time, I could have used, or the farthest part of the bollinger bands or own trend line you drew below minimum or a major support (S1).

All this is because I think the Big Picture is bullish.

_Entry into the wave labeled 1 is premature because no reverse pattern .
_Entry into the wave labeled 2 is safer, because it could potentially be a double bottom, but then the stoploss must respect the volatility of the moment or relevant support. The new session (NY) is close.

_Entry labeled Wave 3 is of high probability, because it has all the ingredients to not fail: Big Picture, new session, reverse pattern, overcoming the previous two relevant maximum price, EMA233 overcoming, overcoming the daily pivot , attack the upper bollinger band, strongly bullish RSI ... and if studied carefully is also seen accompanying volumes.

I understand that hindsight is easy to tell this, but so will tell backtesting.


EURUSD M5
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  • #1,288
  • Apr 28, 2015 12:54am Apr 28, 2015 12:54am
Quoting isengoz
{quote} now that I'm up about 40 pips on average, I pulled my stops to BE. I can sleep comfortably now... {image} see you tomorrow...
morning...

I closed last night's trades for +100 pips. I expect a retracement at least to 1.09 with the European open. I will use these retracements to get short till we cross yesterday's high.

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  • #1,289
  • Apr 28, 2015 1:05am Apr 28, 2015 1:05am
Quoting Patron
{quote} I always say that the stoploss are sacred, and respect for them is part of the Holy Grail ...
thanks for the insight, patron.

about stoplosses, I open a trade when I think the price movement (ie. wave) is over, so keep my stops as tight as possible. if price makes a new high or low that shows me the move is not over. however, there are times like yesterday that we lack momentum and price moves laterally. that's when I get my losses most of the time. normally, I would stay put till the price breaks the consolidation zone (which means crossing the latest high in this setup) but I knew the bulls' target (you can see from TPs of my trades) and tried to be in the move as soon as possible. that's why I lost that much. as I increased my risk percentage recently I need to be more careful though...
  • #1,290
  • Apr 28, 2015 1:13am Apr 28, 2015 1:13am
[quote=isengoz;8231265]{quote} morning... I closed last night's trades for +100 pips.



I expect a retracement at least to 1.09 with the European open. I will use these retracements to get short till we cross yesterday's high.
I do not know if I understand correctly. Expecting "1.09" to look short?
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  • #1,291
  • Apr 28, 2015 1:17am Apr 28, 2015 1:17am
Quoting isengoz
{quote} thanks for the insight, patron. about stoplosses, I open a trade when I think the price movement (ie. wave) is over, so keep my stops as tight as possible. if price makes a new high or low that shows me the move is not over. however, there are times like yesterday that we lack momentum and price moves laterally. that's when I get my losses most of the time. normally, I would stay put till the price breaks the consolidation zone (which means crossing the latest high in this setup) but I knew the bulls' target (you can see from TPs of my trades)...
A wave always ends with a reverse pattern, and always begins with a reverse pattern, the same degree or level as the wave.
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  • #1,292
  • Apr 28, 2015 1:28am Apr 28, 2015 1:28am
[quote=Patron;8231284]
Quoting isengoz
{quote} morning... I closed last night's trades for +100 pips. I expect a retracement at least to 1.09 with the European open. I will use these retracements to get short till we cross yesterday's high. I do not know if I understand correctly. Expecting "1.09" to look short?
yeah, I'm bearish till we cross 1.0926 (ie yesterday's high), and expect some moves up before going further down (last efforts for the bulls and opportunities to get short for the bears). I will use those up moves to get short. but if we cross and go above 1.0926, that's another story...
  • #1,293
  • Apr 28, 2015 1:33am Apr 28, 2015 1:33am
[quote=isengoz;8231309]
Quoting Patron
{quote} yeah, I'm bearish till we cross 1.0926 (ie yesterday's high), and expect some moves up before going further down (last efforts for the bulls and opportunities to get short for the bears). I will use those up moves to get short. but if we cross and go above 1.0926, that's another story...
EURUSD
I think that Big Picture stay bullish.
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  • #1,294
  • Apr 28, 2015 1:42am Apr 28, 2015 1:42am
[quote=Patron;8231317]
Quoting isengoz
{quote} EURUSD I think that Big Picture stay bullish.
it depends on what you look at. if we don't go above yesterday's high as I mentioned in my previous post, I expect a retracement of about 150 pips. that might not change the overall direction of the trend on H4 or D1, but I decided to short the pair today that's why I'm bearish. it hasn't made any new lows above M5 timeframe by the way. from that perspective you're right that the pair is still bullish. anyway, I will see whether I'm right or wrong in a couple of hours...
  • #1,295
  • Apr 28, 2015 2:02am Apr 28, 2015 2:02am
[quote=isengoz;8231331]
Quoting Patron
{quote} it depends on what you look at. if we don't go above yesterday's high as I mentioned in my previous post, I expect a retracement of about 150 pips. that might not change the overall direction of the trend on H4 or D1, but I decided to short the pair today that's why I'm bearish. it hasn't made any new lows above M5 timeframe by the way. from that perspective you're right that the pair is still bullish. anyway, I will see whether I'm right or wrong in a couple of hours...
Everything is possible. I will follow wave wave.
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  • #1,296
  • Apr 28, 2015 2:40am Apr 28, 2015 2:40am
EURUSD M1

In my opinion, could be a wave of impulse after a correction, and until it is proven otherwise, I'm going to treat it as such.
Attached Image (click to enlarge)
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  • #1,297
  • Apr 28, 2015 2:52am Apr 28, 2015 2:52am
EURJPY M1

Correlated with EURUSD
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  • #1,298
  • Apr 28, 2015 4:20am Apr 28, 2015 4:20am
Quoting Patron
EURUSD M1 In my opinion, could be a wave of impulse after a correction, and until it is proven otherwise, I'm going to treat it as such. {image}
EURUSD M1
I waited the first drop (wave 2) of what I considered a first wave of impulse after correction.
After reverse pattern I have entered long ...
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  • #1,299
  • Apr 28, 2015 4:23am Apr 28, 2015 4:23am
Quoting Patron
EURJPY M1 Correlated with EURUSD {image}
EURJPY M1

Technically similar to EURUSD.

Quota well fullfilled for +90 pips
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  • #1,300
  • Apr 29, 2015 2:25am Apr 29, 2015 2:25am
Morning

The euro remains bullish. Therefore I seek entries for long ...

EURUSD M1
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EURJPY M1
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