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The Paradox System

  • #10,561
  • Jul 15, 2017 8:01pm Jul 15, 2017 8:01pm
Quoting SolitudeFx
{quote} So sorry, I was just backtesting your new idea and noticed this. It has been deleted.
It is not a new idea - it is only a TOOL and used as I had posted.
The Dove - Forex Trainer
  • #10,562
  • Jul 16, 2017 8:48am Jul 16, 2017 8:48am
Quoting dove_alliance
Example: On today's closing you have ROMAR on the H2 as resistance. On the H4 ROMAR is support. In this scenario you have a ranging marks with ROMAR on each chart.
Apologies sir but I don't quite understand the above quote?

Cheers,
Andy
From the ashes of disaster grow the roses of success - Grandpa Potts, 1968
  • #10,563
  • Jul 16, 2017 3:41pm Jul 16, 2017 3:41pm
Dear Dana,

Thank you for the H4 chart. I believe it will help us in determining S/R. It shows a clear slider onFriday's session with a retrace to EMA for the down. I have been following your system and have made my share of mistakes but look forward to correcting them in the near future.
  • #10,564
  • Jul 16, 2017 4:49pm Jul 16, 2017 4:49pm
Quoting dove_alliance
I have been debating this decision for about a week in giving this 4 hour chart. The 4 hour chart is not a trading chart but will replace the Daily as for reference with support and resistance. The H4 is stripped down for reference only. The EMA signal, Arrows, and MACD is not on the H4. The reason for debating is because some of you, if not all of you, would want to add indicators to the H4 and would be a bad mistake in doing so. If you use the H4 as you would the Daily then you have a great reference with ROMAR, EMA, and the Parabolic's between...
Thank you Dana.
  • #10,565
  • Jul 16, 2017 5:03pm Jul 16, 2017 5:03pm
Hello fellow traders, this is my trading plan for today. I hope this is correct according with the new 4 HR timeframe.

Date: 16/07/2017 17:00 EST


4 HR:
ROMAR – support
EMA - resistance
PSAR - resistance

Check List:
Last DB Attachment down at 128.483 with gold and light sky blue divergences
FIBO up


Notes: the 4 HR chart is in a consolidated downtrend towards ROMAR as support. SAR attached above EMA as resistance at 129.509. Smooth and white at the crossing for the down, 4 HR is getting out of an EMA slider and heading towards ROMAR with a 20 pip striking distance.

2 HR:
ROMAR - resistance
EMA - resistance
PSAR - resistance

Check List:
Last MACD 0 crossing up on current candle
Last EMA Alert Arrow down
Last DB Attachment down at 128.483
FIBO up

Notes: the 2 HR is in a BB ranging mode with ROMAR holding resistance with a 30 pip striking distance from current market price and 75 pip striking distance to the lower BB. White is at the crossing with purple and market is between purple and EMA resistance in a tight spread. SAR attached with gold divergence below at 128.579.

1 HR:
ROMAR - resistance
EMA - support
PSAR – support
Notes: EMA crossed purple for the up. 1 HR in an uptrend to ROMAR resistance.

Final notes: the market is currently in a ranging mode defined by the 2 HR BB and ROMAR as support in the 4 HR chart and resistance in the 2 HR chart. Rules for this type of ranging is to always trade the ROMAR trend and trade from top to bottom and vice versa. I will wait for the market to get near ROMAR resistance in the 2 HR chart and entry short as there is enough pip distance from top to bottom.
Consistency is a state of mind
  • #10,566
  • Jul 16, 2017 7:45pm Jul 16, 2017 7:45pm
JPY Bank Holiday today, would we expect much movement today?

Cheers,
Andy
From the ashes of disaster grow the roses of success - Grandpa Potts, 1968
  • #10,567
  • Jul 16, 2017 7:47pm Jul 16, 2017 7:47pm
No trading plan for me today. Jpy bank holiday and this could mean little to no movement or dangerous spikes from what I understand from reading this thread.
The quieter you become, the more that you can hear.
  • #10,568
  • Jul 16, 2017 7:50pm Jul 16, 2017 7:50pm
Quoting Andiroo
JPY Bank Holiday today, would we expect much movement today? Cheers, Andy
Just saw your post after putting mine up. I hope that I have interpreted the rules correctly to stay out for the night.
The quieter you become, the more that you can hear.
  • #10,569
  • Jul 16, 2017 8:07pm Jul 16, 2017 8:07pm
Quoting SolitudeFx
{quote} Just saw your post after putting mine up. I hope that I have interpreted the rules correctly to stay out for the night.
That would be my call my friend...best be safe even in demo...

Cheers,
Andy
From the ashes of disaster grow the roses of success - Grandpa Potts, 1968
  • #10,570
  • Jul 16, 2017 8:11pm Jul 16, 2017 8:11pm
Quoting Andiroo
{quote} Apologies sir but I don't quite understand the above quote? Cheers, Andy
Well - I'm wondering what it is you don't understand? I believe the statement is pretty clear.
The Dove - Forex Trainer
  • #10,571
  • Jul 16, 2017 8:11pm Jul 16, 2017 8:11pm
Which economic calendar do you guys check? I see DailyFx and they aren't showing the JPY bank holiday in their page, where can I check this for future reference? Thank you
Consistency is a state of mind
  • #10,572
  • Jul 16, 2017 8:16pm Jul 16, 2017 8:16pm
Quoting Adaptation
Which economic calendar do you guys check? I see DailyFx and they aren't showing the JPY bank holiday in their page, where can I check this for future reference? Thank you
Oh nevermind I see, in the FF calendar section. I'll keep checking this one instead of the other one. So no trading in bank holidays? I understood it was only during red releases.
Consistency is a state of mind
  • #10,573
  • Jul 16, 2017 8:16pm Jul 16, 2017 8:16pm
Quoting dove_alliance
{quote} Well - I'm wondering what it is you don't understand? I believe the statement is pretty clear.
Clear now sir, the extra 'a' didn't help if you don't mind me saying, just wanted to be clear (though being from God's own country in Yorkshire it took me a while to figure it out)

Cheers,
Andy
From the ashes of disaster grow the roses of success - Grandpa Potts, 1968
  • #10,574
  • Jul 16, 2017 8:18pm Jul 16, 2017 8:18pm
Quoting Adaptation
{quote} Oh nevermind I see, in the FF calendar section. I'll keep checking this one instead of the other one. So no trading in bank holidays? I understood it was only during red releases.
I've always found Bank Holidays to be slower than slow on most currencies, not that I've traded EJ before though?
From the ashes of disaster grow the roses of success - Grandpa Potts, 1968
  • #10,575
  • Jul 16, 2017 8:20pm Jul 16, 2017 8:20pm
Quoting Andiroo
{quote} I've always found Bank Holidays to be slower than slow on most currencies, not that I've traded EJ before though?
Thank you Andy, but if I do find a good setup, should I pass it?
Consistency is a state of mind
  • #10,576
  • Jul 16, 2017 8:25pm Jul 16, 2017 8:25pm
Quoting Adaptation
{quote} Thank you Andy, but if I do find a good setup, should I pass it?
Sorry mate, never traded EJ so I wouldn't like to say - normally trade EU GU, and Bank Holidays do slow down your trading. Hope this helps?

Cheers,
Andy
From the ashes of disaster grow the roses of success - Grandpa Potts, 1968
  • #10,577
  • Jul 16, 2017 8:25pm Jul 16, 2017 8:25pm
Quoting Andiroo
{quote} Sorry mate, never traded EJ so I wouldn't like to say - normally trade EU GU, and Bank Holidays do slow down your trading. Hope this helps? Cheers, Andy
Ok, got it. Thank you
Consistency is a state of mind
  • #10,578
  • Jul 16, 2017 8:27pm Jul 16, 2017 8:27pm
It varies with bank holidays. Most times the volatility on bank holidays are more volatile then on banking days. Just remember - the banks take holidays but their prop traders do not.
The Dove - Forex Trainer
  • #10,579
  • Jul 16, 2017 8:30pm Jul 16, 2017 8:30pm
Quoting dove_alliance
It varies with bank holidays. Most times the volatility on bank holidays are more volatile then on banking days. Just remember - the banks take holidays but their prop traders do not.
Good heads up, didn't know that, thank you.

Cheers,
Andy
From the ashes of disaster grow the roses of success - Grandpa Potts, 1968
  • #10,580
  • Jul 16, 2017 8:30pm Jul 16, 2017 8:30pm
Quoting dove_alliance
It varies with bank holidays. Most times the volatility on bank holidays are more volatile then on banking days. Just remember - the banks take holidays but their prop traders do not.
That's fascinating. I didn't know that. I would think EJ would be safe to trade after Asia closes and London opens.
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