Islander and Medici trade the European open | Page 296 | Forex Factory

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Islander and Medici trade the European open

  • #5,901
  • May 15, 2020 2:26am May 15, 2020 2:26am
Quoting Islander
{quote} GM - yes, the reversal in the US indices with Dow up more than 500 pts in 75 minutes was impressive. Now as I type, Dax has spiked up 65 pts in 3 minutes from XO - an unusually fast move with its highs at the 38:2% retrace of this week's fall - also, a 10 Day POC so now need to see these highs broken. The US indices have made a 50% retrace, so again in an important area. I'll buy any pull back to a fractal / level that is supported by volume and PA
OK, thanks!
I call upon my father's spirit , watching over me
  • #5,902
  • May 15, 2020 2:28am May 15, 2020 2:28am
Quoting Islander
{quote} GM - yes, the reversal in the US indices with Dow up more than 500 pts in 75 minutes was impressive. Now as I type, Dax has spiked up 65 pts in 3 minutes from XO - an unusually fast move with its highs at the 38:2% retrace of this week's fall - also, a 10 Day POC so now need to see these highs broken. The US indices have made a 50% retrace, so again in an important area. I'll buy any pull back to a fractal / level that is supported by volume and PA



I bought the PB to yesterday's close, a fractal with a POC level
Trading Levels with WRBs
  • #5,903
  • May 15, 2020 2:32am May 15, 2020 2:32am
Quoting Islander
{quote}[/b] I bought the PB to yesterday's close, a fractal with a POC level
I'm out of the intraday game for this week, I have only to manage my small position bought in the dramatic free.fall yd.
Anyway always interesting your inputs. Every day I have to learn something, always.
I call upon my father's spirit , watching over me
  • #5,904
  • May 15, 2020 2:33am May 15, 2020 2:33am
Quoting Islander
{quote}[/b] I bought the PB to yesterday's close, a fractal with a POC level

Bailed
Trading Levels with WRBs
  • #5,905
  • May 18, 2020 6:19am May 18, 2020 6:19am
OK Caiuss here's your S10 chart and my S20 for the same period. I was AFK at this time.

On my chart, I have fractals automatically drawn by an indicator, as are the Sweet Spot levels. Thus early in that period we see a failure to break above the fractal high from earlier in a higher volume doji - an exit signal for any longs. Then there is a Lower High - a sell ~the 10,775 level and as there were then 2 WRBs (Wider Ranged Bodies) ~ a Minor Sweet Spot I would have trailed my SL to +10 pts and been closed out.

Next Price failed to get above the R3 level on higher volume with a Lower High and Red MA so a sell or wait for more confirmation - the next LH for the drop back to the Fractal are on higher volumes - exit on a tightened trailing SL or after the bullish engulfing candle.
Attached Image (click to enlarge)
Click to Enlarge Name: may18 dax s20 918.png Size: 61 KB
Attached Image
Trading Levels with WRBs
  • #5,906
  • May 18, 2020 6:44am May 18, 2020 6:44am
Quoting Islander
OK Caiuss here's your S10 chart and my S20 for the same period. I was AFK at this time. On my chart, I have fractals automatically drawn by an indicator, as are the Sweet Spot levels. Thus early in that period we see a failure to break above the fractal high from earlier in a higher volume doji - an exit signal for any longs. Then there is a Lower High - a sell ~the 10,775 level and as there were then 2 WRBs (Wider Ranged Bodies) ~ a Minor Sweet Spot I would have trailed my SL to +10 pts and been closed out. Next Price failed to get above the R3...
Thank you Islander. Let me digest this info before asking dumb questions.
  • #5,907
  • May 18, 2020 7:46am May 18, 2020 7:46am
Quoting Caiuss
{quote} Thank you Islander. Let me digest this info before asking dumb questions.

No problem - when you have a moment to read say the last 20 pages of posts here you'll get an idea of what I've been developing with the others in our chat.

There are some proprietary things that are NOT discussed.

Being AFK for the last two hours I've missed this big US led continuation move up to the 618 Fib of the whole fall on my daily S&P ~the 50% on Dax, also a fractal on M60

Now AFK till the New York Open
Trading Levels with WRBs
  • #5,908
  • May 19, 2020 3:13am May 19, 2020 3:13am
Huge rally in Dax yesterday - larger than US Indices %wise followed by another pre XO rally to new highs into XO. A LH after XO told us to sell. Now at support area 11,025 / 11,000 Chart later
Trading Levels with WRBs
  • #5,909
  • May 19, 2020 4:02am May 19, 2020 4:02am
Quoting Islander
Huge rally in Dax yesterday - larger than US Indices %wise followed by another pre XO rally to new highs into XO. A LH after XO told us to sell. Now at support area 11,025 / 11,000 Chart later
and here it is. Research settings for an MA that will act as a visual guide and for safety, only trade in its direction, so only Buy when its Blue and only Sell when its magenta will keep you safe.

The Lower High after XO was the warning and then the magenta MA confirmed the selling.

Now check the ZEW data
Attached Image (click to enlarge)
Click to Enlarge Name: may19 dax m1 0900.png Size: 47 KB
Trading Levels with WRBs
  • #5,910
  • May 19, 2020 4:13am May 19, 2020 4:13am
Now check the ZEW data ......guess what - it was surprising good, much better than the estimates.

Anyone think that the SM had that info yesterday and got buying.....OK, there was other good news too, but worth + 600 pts ??
Trading Levels with WRBs
  • #5,911
  • May 19, 2020 4:15am May 19, 2020 4:15am
Now check the ZEW data ......guess what - it was surprising good, much better than the estimates.

Anyone think that the SM had that info yesterday and got buying.....OK, there was other good news too, but worth + 600 pts ??

Either way, we just follow our signals and try our best to ride on the backs of the SM
Trading Levels with WRBs
  • #5,912
  • May 20, 2020 2:38am May 20, 2020 2:38am
GM the LH just after XO made a head & shoulders on Dax M5, with a Price Projection down to yesterday's close - I'm short
Trading Levels with WRBs
  • #5,913
  • May 20, 2020 2:45am May 20, 2020 2:45am
HV push down to the confluence of today's open and a virgin poc at the first envelope was a good place to exit after the 100 pts drop
Trading Levels with WRBs
  • #5,914
  • May 20, 2020 2:50am May 20, 2020 2:50am
Quoting Islander
GM the LH just after XO made a head & shoulders on Dax M5, with a Price Projection down to yesterday's close - I'm short
Good eyes sir! I guess this is why you need trillions of hours watching this stuff
Do you have a 'daily target'? Or do you try and 'go with the flow'?
Thanks and good trading!
Edit; what's a POC? how do you determine it?
used to be undecided but nowadays can't make my mind up
  • #5,915
  • May 20, 2020 3:08am May 20, 2020 3:08am
Quoting Islander
GM the LH just after XO made a head & shoulders on Dax M5, with a Price Projection down to yesterday's close - I'm short
So there was a 100 pts fall down to the confluence of today's open, a virgin poc and a minor ss. With increased vol there, a good place to bank.

Whilst the MA remains down (magenta) its safer not to be buying
Attached Image (click to enlarge)
Click to Enlarge Name: may20 dax m1 0802.png Size: 41 KB
Trading Levels with WRBs
  • #5,916
  • May 20, 2020 3:16am May 20, 2020 3:16am
Quoting mrcreosote
{quote} Good eyes sir! I guess this is why you need trillions of hours watching this stuff Do you have a 'daily target'? Or do you try and 'go with the flow'? Thanks and good trading! Edit; what's a POC? how do you determine it?
Yes, 1,000s of hours of screen time do help

I dont have targets - IMO they restrict my thinking and then I dont take advantage of a day like Monday!

Point of Control aka Price Volume Peak - the area of highest volume during a given time period. Here its both yesterday's action and today's developing action
Trading Levels with WRBs
  • #5,917
  • May 20, 2020 3:19am May 20, 2020 3:19am
The HL at the top of the hour was followed by another HL and the MA turned up allowing a buy via this chart The S20 "allowed" an earlier buy
Trading Levels with WRBs
  • #5,918
  • May 20, 2020 1:48pm May 20, 2020 1:48pm
Why do you have so many lines on your chart? I count about 25 lines painted across your charts.

How can any of them be significant if there are so many of them?
  • #5,919
  • May 20, 2020 5:39pm May 20, 2020 5:39pm
FFS
  • #5,920
  • May 21, 2020 2:36am May 21, 2020 2:36am
Quoting DurianDollar
Why do you have so many lines on your chart? I count about 25 lines painted across your charts. How can any of them be significant if there are so many of them?

A good question. I have the Sweet Spots - both the normal 25 / 50 /75 & BRN and sometimes also the minor ss 15 / 35 / 65 / 85. These are objective levels.

Then the Daily Pivots including the mid levels - another 13 depending on the range of the chart. Plus a couple of POC levels from yesterday and developing today. Finally, my Fractal indicator will highlight any recent turns. These are all subjective levels, dependent on their settings.

You can also call the MA and Envelopes dynamic levels! and I usually have Fibonacci of yesterday's range on my M5 chart but fewer SS / DP etc

My Trading Rules include the need for a confluence of levels for additional input to go with my view of the PA via the aggression and volatility of a move.

Regards

PS All of the above "allowed" me to Buy Dax at 9:12 currently its +46
Trading Levels with WRBs
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