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Flying Dutchman

  • #7,761
  • Apr 24, 2023 10:43am Apr 24, 2023 10:43am
Long USDPLN
Target Wednesday H
  • #7,762
  • Apr 24, 2023 2:21pm Apr 24, 2023 2:21pm
Short GBPUSD
Target last week low
  • #7,763
  • Apr 24, 2023 6:21pm Apr 24, 2023 6:21pm
Quoting turnip15
{quote}
And it kicked off ( nice short) about an hour after open KEV {image}

Cheers turnip,

I love looking at all charts so this morning I threw a quick review template over your S&P500.
The 500 is a derivative stock market index I read of the top 500 US companies and is one of the most commonly followed equity indices.

While the currency pairs are moved daily we know with an overiding control at boundaries by two CBs, one for each country,
the Top 500 US companies are run I imagine by 500 CEO's providing balance sheets and audited profit sheets on a regular basis.
When I then look at the trading charts, what I can see though is a somewhat similar behaviour to currency pairs.

Leaving me to question in my own mind whether the S&P500 is yet another market that seems to be very well organised in its price movements.
Whether or not indices & currencies are driven by the same sources is not necessarily a conclusion but their markets "participant" behaviour is strikingly similar.

While I am NOT a pivot trader at all, many traders are I imagine either individually or institutionally, so maybe no surprise to me as floor pivots were well accepted in the pits back in the day. From all my observations pivot lines do not mean a "set & certain" behaviour will happen at them (about 50/50 again like most indis).


It was an interesting exercise for me to see that the S&P500 chart would follow pretty much the same fuller Market Mechanics & Behaviours as do currency pairs.

S&P500
.
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  • #7,764
  • Apr 24, 2023 10:44pm Apr 24, 2023 10:44pm
G'Day all,
Its Anzac Day here in NZ so public holiday for us and OZ. That gave me a bit of time to look at the charts starting from Tokyo Open. Tried Gold trading today and it worked. It moves fast and has bigger swings so best for me was to look for trades where swings or moves were on the run and not look for the start and end of it. I also took a trade on my favourite pair, GBP/JPY. Was a locked 7 pips gain. It was a late entry but i wanted to be sure that the structure was broken and i entered around the RN and Timing. It was just after the second hour of Tokyo Open. As for the Gold trade i entered just after the 1st hour. RN and Timing were the main ingredients as usual. The top was formed early in the Tokyo session and then confirmed later on. I entered after the first rejection but it did come back to the RN for a third time. I got a little worried but was happy with my analysis and had the Stop Loss in place. Took profit at the first target.
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  • #7,765
  • Apr 24, 2023 11:18pm Apr 24, 2023 11:18pm
Quoting Ihlas
Short GBPUSD Target last week low
Hi Ilhas, if you could elaborate more about your targets, how u come to that conclusion. With a chart and some info would help. Pretty sure you have a system which is doing well but just pointing out targets is not helping any of the fellow traders here. Please do not take it the wrong way. Most are here to exchange ideas and learn from one another. Cheers
  • #7,766
  • Apr 24, 2023 11:33pm Apr 24, 2023 11:33pm
Quoting whitesta
G'Day all, Its Anzac Day here in NZ so public holiday for us and OZ. That gave me a bit of time to look at the charts starting from Tokyo Open. Tried Gold trading today and it worked. It moves fast and has bigger swings so best for me was to look for trades where swings or moves were on the run and not look for the start and end of it. I also took a trade on my favourite pair, GBP/JPY. Was a locked 7 pips gain. It was a late entry but i wanted to be sure that the structure was broken and i entered around the RN and Timing. It was just after the...
Nice chart and analysis w. And thanks for the Anzac Day reminder "lest we forget".
  • #7,767
  • Apr 24, 2023 11:46pm Apr 24, 2023 11:46pm
Quoting whitesta
G'Day all, Its Anzac Day here in NZ so public holiday for us and OZ. That gave me a bit of time to look at the charts starting from Tokyo Open. Tried Gold trading today and it worked. It moves fast and has bigger swings so best for me was to look for trades where swings or moves were on the run and not look for the start and end of it. I also took a trade on my favourite pair, GBP/JPY. Was a locked 7 pips gain. It was a late entry but i wanted to be sure that the structure was broken and i entered around the RN and Timing. It was just after the...
Just hitting the sack for the night.... But had to post

AWESOME trades,,,setups and laid out nicely in your charts for others to see... One of the biggest thing I notice Whitesta with your thought process and entries is Patience .... That's a big asset in this biz...

Well done as always and best of luck to those trading Franky and London ...

Cheers
Blue
Master your Mind,,,Master the Market
  • #7,768
  • Apr 25, 2023 1:27am Apr 25, 2023 1:27am
Quoting bluesteele
{quote} Just hitting the sack for the night.... But had to post AWESOME trades,,,setups and laid out nicely in your charts for others to see... One of the biggest thing I notice Whitesta with your thought process and entries is Patience .... That's a big asset in this biz... Well done as always and best of luck to those trading Franky and London ... Cheers Blue
Thanks Bluesteele, it took me sometime to remain patient during setups. At times i am still trigger happy and pay for it...lol. Those big candles still makes me think that i should enter or the train will leave without me. It does happen at times but i just tell myself that the market will be there later in the day, tomorrow or next day and setups will appear again. Thanks again for the kind words.
  • #7,769
  • Apr 25, 2023 2:08am Apr 25, 2023 2:08am
As Timetells says...Fake & Flip on GBY/JPY...
  • #7,770
  • Edited 9:24am Apr 25, 2023 2:56am | Edited 9:24am
Quoting Ihlas
Short GBPUSD Target last week low
Friday low easy target for GU
Quoting whitesta
{quote} Hi Ilhas, if you could elaborate more about your targets, how u come to that conclusion. With a chart and some info would help. Pretty sure you have a system which is doing well but just pointing out targets is not helping any of the fellow traders here. Please do not take it the wrong way. Most are here to exchange ideas and learn from one another. Cheers
Hi Whitesta,I really don't know what to say!I don't want to share half-secret and "half-revealing" ideas, either you say everything or not. Straight forward. These half-baked "secrets" can literally waste someone's years. Better make your own research and learn.
Cheers,
Best of luck
Ihlas
  • #7,771
  • Apr 25, 2023 7:14am Apr 25, 2023 7:14am
E/J demo continues..............ok so far..trying bits and pieces
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every Saint has a past. Every Sinner has a Future
  • #7,772
  • Apr 25, 2023 7:39am Apr 25, 2023 7:39am
The dax traded this morning went well despite two losers. Used levels once again.
But I post a chart with a Fibo overlaid just for comment.
Are Fibo's useful to you guys in trading.?
The 50 here shown coincides with a level
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every Saint has a past. Every Sinner has a Future
  • #7,773
  • Apr 25, 2023 7:43am Apr 25, 2023 7:43am
Quoting turnip15
The dax traded this morning went well despite two losers. Used levels once again. But I post a chart with a Fibo overlaid just for comment. Are Fibo's useful to you guys in trading.? The 50 here shown coincides with a level {image}
The real question is, "are fibos useful to you".

Me, I really do not use them. I have my crazy system and it has the dynamic mid-points. <--- This I suggest people give some study/attention to. The 50% point.

I am finding a "dynamic", ie one like the Kijun where the mid-point moves as price moves, is significant.
Mark ... Everything you have been told is a LIE
  • #7,774
  • Apr 25, 2023 9:12am Apr 25, 2023 9:12am
Go lower please on break
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every Saint has a past. Every Sinner has a Future
  • #7,775
  • Apr 25, 2023 9:15am Apr 25, 2023 9:15am
Quoting turnip15
E/J demo continues..............ok so far..trying bits and pieces {image}
I say.....crikey chaps
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every Saint has a past. Every Sinner has a Future
  • #7,776
  • Apr 25, 2023 9:19am Apr 25, 2023 9:19am
Quoting turnip15
Go lower please on break {image}
Try again to post...........stopped out for three points

EDIT: Watching the 5 minute for a while.....seems in a small range for now.
every Saint has a past. Every Sinner has a Future
  • #7,777
  • Apr 25, 2023 9:24am Apr 25, 2023 9:24am
Quoting turnip15
{quote} Try again to post...........stopped out for three points
Since you trade the Dax, you should look into the Nasdaq100 see how that fits with your method.
Mark ... Everything you have been told is a LIE
  • #7,778
  • Apr 25, 2023 11:12am Apr 25, 2023 11:12am
Quoting turnip15
The dax traded this morning went well despite two losers. Used levels once again. But I post a chart with a Fibo overlaid just for comment. Are Fibo's useful to you guys in trading.? The 50 here shown coincides with a level {image}
A chart I posted the other day....
Now Check out today's spx US30 etc...... One of my favorite setups.. off the 50% still running ..

The things with Fibs is where on a chart do you anchor the high and low ??? On price which is always changing ...or on Time the other axis...the one that never changes... That's the difference IMO....

Easy to set a FIB when it is done exactly at the same time,,,, everyday... Almost as if it would make sense to ohhh I don't know program something to a Time based Fib.. . ..

Will write some more thoughts out later today..as I had planned a post explaining my thoughts around Fibs Time and session boxes.,,

Cheers
Blue

Attached Image (click to enlarge)
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Master your Mind,,,Master the Market
  • #7,779
  • Apr 25, 2023 11:13am Apr 25, 2023 11:13am
Quoting spzd
{quote} Since you trade the Dax, you should look into the Nasdaq100 see how that fits with your method.
Why?
More volatility ?
every Saint has a past. Every Sinner has a Future
  • #7,780
  • Apr 25, 2023 11:20am Apr 25, 2023 11:20am
Quoting bluesteele
{quote} A chart I posted the other day.... Now Check out today's spx US30 etc...... One of my favorite setups.. off the 50% still running .. The things with Fibs is where on a chart do you anchor the high and low ??? On price which is always changing ...or on Time the other axis...the one that never changes... That's the difference IMO.... Easy to set a FIB when it is done exactly at the same time,,,, everyday... Almost as if it would make sense to ohhh I don't know program something to a Time based Fib.. . .. Will write some more thoughts...
My end of session ( UK afternoon time - US morning) chart.
Out of interest re your comments about Fibby I have put it on the chart ( I do not currently use Fibo to trade) to see what might have caught my attention had I been live and had the first hour mapped out with it, plus my usual levels and channel. Interestingly the 50 was hit ( at the '?' mark) and price crashed short. I do like putting on the extended open ( dotted line) lately.
Will plot fibo after trading as further research.
Blasted machine is trying to get me to write "Fido" instead of "Fibo"
Back tomorrow
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every Saint has a past. Every Sinner has a Future
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