Islander and Medici trade the European open | Page 311 | Forex Factory

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Islander and Medici trade the European open

  • #6,201
  • Mar 3, 2022 8:16am Mar 3, 2022 8:16am
Nice, I was AFK and just got a few from the last push up to the old fractal under the 14,400 BRN
Trading Levels with WRBs
  • #6,202
  • Mar 3, 2022 8:23am Mar 3, 2022 8:23am
It really was a great 200 pts up swing....

Now to see what happens after NYO
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Trading Levels with WRBs
  • #6,203
  • Edited 10:02am Mar 3, 2022 9:17am | Edited 10:02am
Quoting Islander
{quote} This is how Rev & I would have traded that area.....I didnt have my S20 active, so cant show its view PA ~ the SS is sooo helpful {image}
Thanks, yes, one needs to keep things simple. Generally speaking, there's a lot of wisdom in trading off levels defined either by suitably constructed lines or a moving average - rather that candle close above an MA or something like that. Price action at levels, in other words.

But why would you wait for the drop beneath the MA before entering on a rebound? Why not buy the first green candle off WMA21 (as I believe it is)?
  • #6,204
  • Edited 4:39pm Mar 3, 2022 9:22am | Edited 4:39pm
Quoting Islander
It really was a great 200 pts up swing.... Now to see what happens after NYO {image}
Seems to be the sell opportunity the market has been waiting for...200+ points down now.
  • #6,205
  • Mar 3, 2022 4:35pm Mar 3, 2022 4:35pm
Stops taken out to both upside and downside...It's so nice with a refresher The game can begin anew The game of finding a direction, or not, will be interesting. And maybe NFP tomorrow will help.

This a 30m chart.
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  • #6,206
  • Mar 8, 2022 3:23am Mar 8, 2022 3:23am
This is a chart for my archives.

+490 in 29 mins from XO

KISS was the WTG
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Trading Levels with WRBs
  • #6,207
  • Mar 9, 2022 3:59am Mar 9, 2022 3:59am
Quoting medici
Stops taken out to both upside and downside...It's so nice with a refresher The game can begin anew The game of finding a direction, or not, will be interesting. And maybe NFP tomorrow will help. This a 30m chart. {image}
Hope you do not mind but here is a very similar approach to yours
You do need your sunglasses though
ps
No offence meant just thought you might like a look
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  • #6,208
  • Edited 5:11am Mar 9, 2022 4:43am | Edited 5:11am
Quoting OAPDave
{quote} Hope you do not mind but here is a very similar approach to yours You do need your sunglasses though ps No offence meant just thought you might like a look {image} {image} {image}
Thanks Dave, don't mind at all. Interesting with variations on the same theme, and always fruitful to explore. For my own trading, I've got to the point where I'm happy to stick to something that works. Gives peace of mind and reduces to cognitive (and visual) load And I do ema use levels pn 30m as well.
  • #6,209
  • Mar 9, 2022 6:09am Mar 9, 2022 6:09am
Quoting OAPDave
{quote} Hope you do not mind but here is a very similar approach to yours You do need your sunglasses though ps No offence meant just thought you might like a look {image} {image} {image}
It turns out that I already have the indicator for this on my computer. And I actually use it on my 1m chart, but with most levels deactivated.

When I get the time, I'll explore the value of this for 30m.

Thanks again Dave
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  • #6,210
  • Edited 6:44am Mar 9, 2022 6:23am | Edited 6:44am
Quoting OAPDave
{quote} Hope you do not mind but here is a very similar approach to yours You do need your sunglasses though ps No offence meant just thought you might like a look {image} {image} {image}
30m...that was easier than anticipated Turns out that the middle MA corresponds to EMA750 on 1m, so I've already got this covered Differently put, what you shared is virtually identical to what I do, but I have made the charts visually digestible and even appealing.
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  • #6,211
  • Mar 9, 2022 7:23am Mar 9, 2022 7:23am
Swingmans smFractalLevels -4
and the way the
RSI is set up are also interesting
Relative Strength 666 close
Moving Avg 6 lwma
Moving Avg 66 lwma
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  • #6,212
  • Mar 9, 2022 8:03am Mar 9, 2022 8:03am
Quoting medici
{quote} 30m...that was easier than anticipated Turns out that the middle MA corresponds to EMA750 on 1m, so I've already got this covered Differently put, what you shared is virtually identical to what I do, but I have made the charts visually digestible and even appealing. {image}
The Envelope I have shown is
TMA 66
ATR Period 666
TMA Price Type Typical HLC/3
TMA Average Type Alexander MA -ALXMA

or simply put 66 ALXMA Typical Center Line of Envelope
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  • #6,213
  • Mar 9, 2022 8:21am Mar 9, 2022 8:21am
Quoting OAPDave
{quote} The Envelope I have shown is TMA 66 ATR Period 666 TMA Price Type Typical HLC/3 TMA Average Type Alexander MA -ALXMA or simply put 66 ALXMA Typical Center Line of Envelope {image}
Thank you again I don't have TMA on my platform. How different is TMA66 from EMA50?
  • #6,214
  • Mar 9, 2022 8:42am Mar 9, 2022 8:42am
Quoting OAPDave
In your free time you can have a play {file} {file}
Many thanks again, but I'm on a Mac

Apologies for the inconvenience
  • #6,215
  • Edited 9:08am Mar 9, 2022 8:52am | Edited 9:08am
Quoting medici
{quote} Many thanks again, but I'm on a Mac Apologies for the inconvenience
It was no problem
I can see you definitely know what you are doing and after all I am only an Apprentice, so I will leave you in peace
Unless you are near to the West Midlands haha
Dave
ps
Its all
NIH98 work
he as a Journal if interested
In the Trading Journals Section
sadly he as passed away now
  • #6,216
  • Edited 11:37am Mar 9, 2022 11:19am | Edited 11:37am
Thanks to Dave for valuable contributions I thought I should honour that by using the 30m chart to illustrate my trades today and over the past 5 days.

Good evening to all
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  • #6,217
  • Mar 9, 2022 12:09pm Mar 9, 2022 12:09pm
Quoting medici
Thanks to Dave for valuable contributions I thought I should honour that by using the 30m chart to illustrate my trades today and over the past 5 days. Good evening to all {image}
Thank you, appreciated
Just on the way out , so will leave you with this in return
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  • #6,218
  • Mar 9, 2022 4:19pm Mar 9, 2022 4:19pm
Quoting OAPDave
{quote} Thank you, appreciated Just on the way out , so will leave you with this in return {image} {image} {image}
Many thanks for that Dave! I tinkered with it to fit my requirements and came up with this.It's a 15m chart.
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  • #6,219
  • Mar 9, 2022 5:08pm Mar 9, 2022 5:08pm
Quoting medici
{quote} Many thanks for that Dave! I tinkered with it to fit my requirements and came up with this.It's a 15m chart. {image}
Hi medici
Only you can be the judge of weather it is a help or hindrance to your trading
TBH my eyes are a little tired so not too sure of your entry or exits
Thanks for taking the time and trouble to have a look
Dave
ps
Keep me informed how you go please
  • #6,220
  • Mar 10, 2022 1:24am Mar 10, 2022 1:24am
GM, what a nice surprise to find both Medici & OAPDave's posts

My view joins in. The 50% retrace of the last big fall was the SM target....
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