The euro is at a fresh low
- #34,123
- Aug 11, 2018 4:17am Aug 11, 2018 4:17am
- Joined Dec 2015 | Status: Trader | 7,803 Posts
{quote} i agree , i try another one , at least one with a stop loss . my inticators is perallel to ata's 62 linear weigehted ma , so you can say i changing it to his{image}
- #34,124
- Edited 5:09am Aug 11, 2018 4:37am | Edited 5:09am
{quote} On chart below I tried to picture the process.. This is the core of trading with my method and again I am very generous today to reveal this method which you will not find in any source or book or whatsoever resource on earth.. Fully new.. Fully my own invention..Let me quickly explain.. Read my explanations while looking at every numbered part that I am mentioning on the image below of this post. Today, as you remember, drop started earlier and at 1.1465 area a bullish candle appeared. So, whenever we see a bullish candle completion...
Thanks Ata for your great explanation
Can you please confirm if this understanding is correct?
-------
Subject: How to choose the best entry point in H1 Breakout Trading (?
)Short in downtrend (long will be same but opposite):
Step 1: We use ZUP indicator to find the proper angle of blue TD and we will draw it under any bullish candle which come after a bearish one
Step 2: We will wait until a H1 candle is fully formed and closed bellow the blue TD
Step 3: will draw a new line parallel and bellow the blue TD on the fully formed candle in step 2 (so based on the image on your post #3 (on candle open) #8 & #12 (on candle close))
Step 4: will draw a line to connect the candle bottom (candle low) of the fully formed candle in step 2 to the parallel line we have drawn in step 3 and cross the current running candle
Step 5: Untill the current running H1 candle fully form and close, we will use M5 chart and we will wait for the breakout of the line which we have drawn in step 4 (M5 candle should close bellow the line) so on breakout we can set our sell order
step 6: On any H1 candle close, we have to revise charts or our opened orders again (we can schedule our alarm for every hour and leave the computers to live the life
)
- #34,125
- Aug 11, 2018 5:13am Aug 11, 2018 5:13am
- Joined Dec 2005 | Status: Trader | 2,857 Posts
{image}
but the projected path going north till 1.30 / 1.40 again is still a bit too early to tell
- #34,127
- Aug 11, 2018 5:33am Aug 11, 2018 5:33am
- Joined May 2013 | Status: formulating infinity | 2,125 Posts
Hi all
2 cents worth
you can see here on this monthly chart that EU is testing a long term support level.
this means, that we may catch a bounce here.
however, if we fail to catch a bid (as was the case in December 2014) and CLOSE under this level on a monthly basis, we can easily see this pair get flushed to test the previously monthly pivot low with a long term objective SUB PARITY
clearly, from a fundamental perspective (yea, fundamentals DO matter at critical levels such as this), there are catalysts to support such an outcome... however, theres a part of me that thinks that its not time yet.
just my thoughts. the important thing is to stay nimble and keep the big picture in your mind
i hope this helps at least one person!
cheers
EU Monthly
2 cents worth
you can see here on this monthly chart that EU is testing a long term support level.
this means, that we may catch a bounce here.
however, if we fail to catch a bid (as was the case in December 2014) and CLOSE under this level on a monthly basis, we can easily see this pair get flushed to test the previously monthly pivot low with a long term objective SUB PARITY
clearly, from a fundamental perspective (yea, fundamentals DO matter at critical levels such as this), there are catalysts to support such an outcome... however, theres a part of me that thinks that its not time yet.
just my thoughts. the important thing is to stay nimble and keep the big picture in your mind
i hope this helps at least one person!
cheers
EU Monthly
90% of people, are wrong about 90% of everything, 90% of the time...
- #34,128
- Aug 11, 2018 5:44am Aug 11, 2018 5:44am
- Joined May 2013 | Status: formulating infinity | 2,125 Posts
my H4 plan for the week ahead (based on the last post)
H4
H4
90% of people, are wrong about 90% of everything, 90% of the time...
- #34,129
- Edited 6:26am Aug 11, 2018 6:01am | Edited 6:26am
- Joined Dec 2005 | Status: Trader | 2,857 Posts
we can easily see this pair get flushed to test the previously monthly pivot low with a long term objective SUB PARITY {image}
however just a note about the famous Parity theory :
each time there's a big drop in the US Dollar , everybody rushes to call 1.5000 / 1.6000 on the Eur again , and each time there's a drop on the Euro , everyone rushes to call for parity again
not that these 2 above scenarios can't happen , as Digger says anything can happen lol , it's just that markets just are not so likely to behave that way : one big straight shoot to the north ,or one big fall to the south , without pullbacks, retracements , pauses , fake-outs , false breakouts, false breakdowns , trend reversals, Trump Tweets , Draghi's whatever-it-takes , QEs , bond buybacks , etc.
so anything can happen , but the parity calls show up at every big fall , whereas the EU , although still a joke on the Political front , is not going to implode , no matter how awkward its Politicians are
so no EU implosion , no Parity
no Martini , no Party
- #34,130
- Aug 11, 2018 6:12am Aug 11, 2018 6:12am
- Joined May 2013 | Status: formulating infinity | 2,125 Posts
90% of people, are wrong about 90% of everything, 90% of the time...
- #34,131
- Aug 11, 2018 6:30am Aug 11, 2018 6:30am
- Joined May 2014 | Status: Full Time Trader | 27,259 Posts
{quote} Thanks Ata for your great explanation Can you please confirm if this understanding is correct? ------- Subject: How to choose the best entry point in H1 Breakout Trading (?
Stay Green
Focus only on what truly matters!
- #34,133
- Aug 11, 2018 7:46am Aug 11, 2018 7:46am
{quote} Einstain said: "If you canīt explain it to a six year old, you donīt understand it." Please kindly treat us like six year olds.
Don't hide behind a quote from a great man, if you are unwilling to do the work for yourself.
It seems like you are more like a six year old than you thought!
Why is a Raven like a Writing Desk?
- #34,138
- Aug 11, 2018 9:31am Aug 11, 2018 9:31am
- Joined May 2014 | Status: Full Time Trader | 27,259 Posts
Focus only on what truly matters!
- #34,139
- Edited 10:02am Aug 11, 2018 9:44am | Edited 10:02am
- Joined Oct 2007 | Status: Sniper | 14,770 Posts
{quote} i agree , i try another one , at least one with a stop loss . my inticators is perallel to ata's 62 linear weigehted ma , so you can say i changing it to his
I don't know about jumping one method to another. especially with indicators.
every indicator has it's own strength and weakness. you need to figure out those and use as what's going on in the background.
whatever you decide to use, don't clutter up the chart with full on indicator lines. See the price action. That's the key.
use what you already have and build on it.