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  • #9,381
  • Nov 7, 2017 5:35pm Nov 7, 2017 5:35pm
I would be thinking to enter long right at previous "consolidating" candles from your entry, due the break of structure.

I'm missing something big here.




Quoting dee50
DAX30 +89. @joshuahope what were you saying about the DAX? It finally did what I thought it was going to do all day. I took the trade based on the pullback and breakout of the channel coming back down to a 123 and breaking below the BRN, I wasn't sure if I should wait for the pullback to the BRN but instead I held off moving to BE. After the pullback I moved to BE set a ridiculous TP and went out to do some gardening. Came back in opened the chart and started laughing hysterically, who ever is using the game pad that controls how price moves must...
  • #9,382
  • Nov 8, 2017 1:01am Nov 8, 2017 1:01am
Quoting cfabian
Chart says it all might be still confusing to me... I was long biased for obvious reasons, and thinking that probably that open gap would close. It did and surpassed big time that level. I honestly still have lots of confusion on how to counter trend within a trend. In your first trade the break of that possible pivot made you go short? Then looks like the reasons to add more short positions were about the same (preak of posible pivots). Now, more interesting is why you didn't look for a long around the close of the gap? Are you looking for pivot...
Hey Cfabian, may I ask what were the obvious reasons? Can you please post a chart to see what you saw?
Edit- didnt see your second post.
I am sure Dee will give you a more detailed analysis, but for me the reason to look for shorts yesterday come from that big 2B pattern on the 10 pip chart, then tl and macd break. This set the stage, negating longs. On the 5, price was constrained by the 50ema Hope this helps.
Best, Josh
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  • #9,383
  • Nov 8, 2017 11:34am Nov 8, 2017 11:34am
Thank you Josh,
To me that down move was a retracement from an uptrend.
You can see in my image what I mean with uptrend. It recently broke that resistance and made a HH after the blue line.

Need to find an easier way to look at structure. Sometimes this is annoying.

Best



Quoting JoshuaHope
{quote} Hey Cfabian, may I ask what were the obvious reasons? Can you please post a chart to see what you saw? Edit- didnt see your second post. I am sure Dee will give you a more detailed analysis, but for me the reason to look for shorts yesterday come from that big 2B pattern on the 10 pip chart, then tl and macd break. This set the stage, negating longs. On the 5, price was constrained by the 50ema Hope this helps. Best, Josh {image}
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  • #9,384
  • Nov 8, 2017 12:18pm Nov 8, 2017 12:18pm
Quoting cfabian
Thank you Josh, To me that down move was a retracement from an uptrend. You can see in my image what I mean with uptrend. It recently broke that resistance and made a HH after the blue line. Need to find an easier way to look at structure. Sometimes this is annoying. Best {quote} {image}
Thank you Cfabian, I see what you mean, even though i have not used candlesticks in a while. Looking at it from this perspective, i am wondering how i would have played it. Gap happens, i may have looked for an entry on the small chart, ie 15. Then the first red candle prints, i would be happy as I would be thinking BPC is gonna happen of SR, but once it fails bellow that SR level, I would interpret this as a failed breakout... or another way of looking at is the MMs capturing longs. In addition you have a break of the TL, same as on the renko chart. On Kiads cycle indi, you can see that it also shows on the second red candle, that the green up line is broken. What pushes the price after the trap is the longs jumping off board and stop losses triggering. A much safer entry for this long could have been taken if there was no gap.I wrote about those in my previous post and thats one of the reason i don't like them much. Just my 2 cents.
Best, Josh
  • #9,385
  • Nov 8, 2017 1:28pm Nov 8, 2017 1:28pm
For want of a better word the cycdiv indicator is almost "magical" if you know how to read it properly.
  • #9,386
  • Nov 8, 2017 1:47pm Nov 8, 2017 1:47pm
Quoting handy148
For want of a better word the cycdiv indicator is almost "magical" if you know how to read it properly.
hi,

can You add cycdiv indicator here; thanks

mojepole
  • #9,387
  • Nov 8, 2017 3:55pm Nov 8, 2017 3:55pm
Quoting handy148
For want of a better word the cycdiv indicator is almost "magical" if you know how to read it properly.
As magical as any other oscillator. :-)

Kiads wrote quite a bit about how to use it in his accelerated renko thread...also some stuff about it at penguintraders.

https://www.forexfactory.com/showthread.php?t=470219

Best, Josh
  • #9,388
  • Nov 9, 2017 3:20am Nov 9, 2017 3:20am
Quoting cfabian
Thank you Josh, To me that down move was a retracement from an uptrend. You can see in my image what I mean with uptrend. It recently broke that resistance and made a HH after the blue line. Need to find an easier way to look at structure. Sometimes this is annoying. Best {quote} {image}
Ger 30 +2 +17

Hey Cfabian, here is another example of the trap. This is my view on it. Alternatively, you could argue that we just hit an S/R zone.
As for my trade i only took 17 but should have held for TP. Decided for BRN. Then observed the opposite move.

Best, Josh
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  • #9,389
  • Nov 9, 2017 5:34am Nov 9, 2017 5:34am
Ger30 +2+2+28

Actually, looking at the H1 chart brought back some pattern knowledge from way back. Thanks Cfabian. I took a quick trade here, but the target is now more obvious. The L pattern like this usually leads into another L. And yes, the price goes to that level :-) Also its the 200ema and pivot.
Anyway, I see now the logic of combining renko with and candlestick chart. Definitely an alternate view of things.
Best, Josh

P.S. I should probably trade and not post as I have missed out some nice opportunities for continuations. :-)
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  • #9,390
  • Nov 10, 2017 3:59am Nov 10, 2017 3:59am
DAX30 +70+2+1+30+23+2+2+10.
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Cut your Losers short and let your Winners run.
  • #9,391
  • Nov 10, 2017 4:14am Nov 10, 2017 4:14am
Quoting JoshuaHope
{quote} As magical as any other oscillator. :-) Kiads wrote quite a bit about how to use it in his accelerated renko thread...also some stuff about it at penguintraders. https://www.forexfactory.com/showthread.php?t=470219 Best, Josh
As magical as any other oscillator. Well said

if you know how to read it properly. (handy148) Exactly. If it was "Magical" you wouldn't need to know anything!
Cut your Losers short and let your Winners run.
  • #9,392
  • Nov 10, 2017 4:58am Nov 10, 2017 4:58am
Quoting dee50
DAX30 +70+2+1+30+23+2+2+10. {image}
My hat off to you Dee, particularly for holding over night. Big cojones!
  • #9,393
  • Nov 10, 2017 5:24am Nov 10, 2017 5:24am
Quoting JoshuaHope
{quote} My hat off to you Dee, particularly for holding over night. Big cojones!
Thanks, but since the weather has turned colder my cojones are some what smaller!
No seriously, yesterdays ADR was 294 with no news to speak of, the only way was up, no idea how far up, I actually put my TP up at 13300 because there was a large block of singles up there, price got no where near it, yet!
Cut your Losers short and let your Winners run.
  • #9,394
  • Nov 10, 2017 5:26am Nov 10, 2017 5:26am
Dax30. +27 a little bit more. Price held at the 76.4% otherwise know as the last line of defence. Missed the Breakout below 13150 I was AFK.
I am probably done for the day. US Bank Holiday so the 15.30 CET push will likely be a whimper.
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Cut your Losers short and let your Winners run.
  • #9,395
  • Nov 10, 2017 8:07am Nov 10, 2017 8:07am
Thanks Josh,
I see those traps are the main reason why to target S&R levels. But also look how well positioned you would be if stayed longer for that down move.



Quoting JoshuaHope
{quote} Ger 30 +2 +17 Hey Cfabian, here is another example of the trap. This is my view on it. Alternatively, you could argue that we just hit an S/R zone. As for my trade i only took 17 but should have held for TP. Decided for BRN. Then observed the opposite move. Best, Josh {image}
  • #9,396
  • Edited 11:45am Nov 10, 2017 8:59am | Edited 11:45am
Quoting cfabian
Thanks Josh, I see those traps are the main reason why to target S&R levels. But also look how well positioned you would be if stayed longer for that down move. {quote}
Indeed. I was not expecting such a huge move down...and I should have as it is a clear 123 down to 161/200 levels. I remember someone once told me to trade what i see and not what i think. I still have much to learn, that is obvious, but I have grown as a trader quite a bit over the past few years.
Have a great weekend friend. Best, Josh
  • #9,397
  • Nov 10, 2017 2:15pm Nov 10, 2017 2:15pm
Just ran into a really cool renko generator. It feels a lot like ovo, but its free. Works for regular and median renkos and has some interesting features.
https://www.forexfactory.com/showthread.php?t=684131
Best, Josh
  • #9,398
  • Nov 13, 2017 5:58am Nov 13, 2017 5:58am
DAX30 -4 +65+59+39+37+20. First one WRONG, DickHead! No Monday GAP up so what was I thinking? Clearly counter trend I blame it on Monday or was it the Trump effect, biologically there is evidence of a Brain but it fails to engage but 1 covevee later and I was thinking clearly again. It should really be obvious. Why 13050, apart from being a BRN, have a look at a HTF. Why did I not take that first pullback creating a 123. I was spooked because I had got my first trade wrong, so I waited until the BOR had been created, price had gone thru the DO which often is S&R, it had bounced off the BRN and Pulled back to the MAs. It could just have gone back down to the BRN and Double Bottomed but it did not, so I loaded a couple more.
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Cut your Losers short and let your Winners run.
  • #9,399
  • Nov 15, 2017 4:44am Nov 15, 2017 4:44am
DAX30 +43+52. Practically a mirror image of my last chart. Using the BOR as S&R for a BPC entry. I didn't load up more this time because I started off fully loaded and didn't take any partials. I did not take any earlier trades as I was AFK if I had been here I would have traded only shorts in the opening range using the MA channel for entries. OH! Gap down as a clue to sentiment, that shows no sign of wanting to be filled.
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Cut your Losers short and let your Winners run.
  • #9,400
  • Nov 15, 2017 4:50am Nov 15, 2017 4:50am
Quoting JoshuaHope
Just ran into a really cool renko generator. It feels a lot like ovo, but its free. Works for regular and median renkos and has some interesting features. https://www.forexfactory.com/showthread.php?t=684131 Best, Josh
Thanks Josh, been running this one for a few days now with no adverse effects, I am using Linux so I am running MT4 in Wine which makes the processor run a little higher and this Renko Generator has little to no extra effect on the processor, a really good sign.
Cut your Losers short and let your Winners run.
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