Tenno system

market, on last candle closed at 2.0029 which is a piercing candle which represents bullish sentiment in the mkt..

I'll stay in and see what happens now..

ct

All,
At 2:10 east time, all time frame 5, 15, 1hr are below 20%. According to Tenno system, this is what we are looking for. If all turn up, will be nice.

gang,

Well, the signal was there for sure, but understanding the time frame that it normally takes for me to get my pips is another story. I knew, after 40 minutes of being in the mkt, that something was wrong. So, I stayed in for 15 more minutes and went ahead and got out with a 2 pip loss...

I'll catch the next signal...

ct

gang,

look at what just happened; a perfect doji at oversold levels with william below 20%...go figure..hehe

ct

..

pat,

news is coming out at 4:30 est and that could push the market up even more...

ct

folks,

the previous doji was followed by a hangman candle and the next candle after the hangman was a down candle in the formation of a hammer, but the hammer was not oversold on the william, so, I sold mkt at 2.0004 and got out at 1.0094 for a full 6 pips profit minus my original -2 pip loss, which is 4 pips profit..

Not pretty, but a profitable day for me..

ct

gang,

Remember when I said that 2 to 3 times a week, the market makes a lopsided move to one side or the other.

Well, today is one of those day, and I jump back into the market at 1.9998 level on a sell and just jumped back out at 1.9984 for a full 10 pips profit, plus the additional 4 pips from the previous trade, which is 14 pips for the day for me.

Well, that's it for me. Once you specialize in one currency pair and know it inside out, you'll just know what to do; not based on your feelings, but based on what has always worked...

Time to get some shut eye for the night...

CT

Took a buy signal, at 1.9993. I think this is the tail end of patricks signal. hesitant on this one because it is London open, 4hr down candle, but will take it anyway, but I am setting a tp and going to bed, catch ya all tomorrow.

For those who didn't profit....

The reason why I sold the market and changed from 'dumb money' to 'smart money' is because at 2:20am EST the market gave a perfect doji and the william % was below 20%. So, that would have made you thought that the market was going up.

But, what I always wait for is a confirming candle that tells me if that doji is correct.

Well, at 2:30am the market formed a down candle but it was a hangman candle. So, what do you do on that? Yep, you wait for the next candle for confirmation.

Well, the next candle was confirmation down candle, BUT it was a hammer. BUT, the hammer was not below 20% william so, I sold at the close of that candle!

Conclusively, even though the market was oversold big time, you have to wait for confirming candles in order to see if what the market wants to do is actually going to really do it.

The slight mistake I made at the beginning was that I looked at the previous 'morning star reversal'!! It was a slight mistake because the european mkt was not even in session when that formed! When that morning star reversal formed, it did what it was suppose to do, but the problem was, was that it formed at the end of the asian session and not DURING the european session.

So, I got excited a little bit too fast and was too hasty to make a trade.

But, once you understand the pair your trading, you can adjust small mistakes like that and just go on doing what you would have normally done if you didn't get excited at all.

Even now, I get excited and make small mistakes, but I correct them really fast....

Happy trading,

CT

I am really digging this 1 min thing too, Ill talk more about that later. I have added a few things in addition to the williams, byt have liked a lot, perfect for picking lows in an upward trend or scalping the range.

out

hit my 10 pip tp already, didnt even give me achance to walk away from my computer!

Sweet, just made 8.5 on the Aussie. Equivalent to about 20 GBP/USD.

mc,

Great...glad your getting those pips in...

Talk to you monday morning...have a great weekend

CT

cham,

As long as you can at least 5 pips, it's all good buddy.

Nice going and have a great weekend.

Talk to you on monday morning's session

ct

All,

Just a reminder that Monday is a Bank holiday here in the UK.

All banks closed for the day so could be low volume through the UK market.

scorpion,

thanks for the reminder. That'll just give me a chance to extend this weekend a little bit longer and do more research on hawaii.

I'm excited about living in hawaii full time man....

CT

Patrick,

All those little clues behind those candlesticks was telling me that the market would go up. And, I said that the market would go up after news came out after 3:30am and now the market, as I type this, is at 2.0134 which is a huge jump in price action...

If a person would have been ultra patient, they could have scored big time.

That's where Tenno's system comes in...

CT

i still waiting cable to make a correction until now..
but nothing happen...

is it a clue that cable will open with gap next week and continuing going up?

for anybody who knows cable behavior.... please give me an advice...
thx in advance..

regards,

Folks,

Before taking leave for this extended weekend, due to the U.K Bank holiday on Monday, I wanted to say something real fast for those who don't want to or can't be up for the european session.

I have found that when there is 2 or more important news items that comes out at 8:30am EST, for the U.S session, there is always a trade that can be taken.

You will always get somewhere between 1 to 4 trades during the week, if you stick with the U.S session and trade the gbp/usd.

For example, there was only one trade this week, for the U.S session where you could have traded the gbp/usd based on news items coming out at 8:30am EST time.

Today, Friday, was that day. Had you traded during the U.S session, like I did this morning(I traded because I wanted to end the weekend with a massive bang), you could of had two trades in this morning before 12:30pm EST.

The first trade occured after the news came out at 8:30am EST. What happened was what would happen during the european session. The market went up and up..then at 9am EST a 'doji' formed. The doji was way over 80% william and that was the first clue. Now, I was looking for a second candle to confirm a potential down movement. Lo and behold, the next candle was a down candle. BINGO! I waited for a small retracement and I sold market at 2.0097 level and got out at 2.0083 level which is a FULL 10 pip profitable trade. So, at this point my total profits is now 24 pips for the day.

The second trade occured at 11am when that candle caused the william to jump below 20%. Well, the next candle was a 'hammer'. So, what do you do, when you see a hammer? You wait for the next candle to convince you of where the market is going. The next candle was in up candle and it caused a 3 candle 'morning star reversal' to take affect. I saw that and just knew where the market was headed.

I bought on a small retracement at 2.0088 level. Although the market went 12 pips against me, I knew where it was headed for sure. So, without all the drama and excitement I stayed in the market. I wound up exiting the market at 2.0102 level for 10 full beautiful pips and would up with 34 pips for the day trading both sessions. And, as you guys know, the market went up a hell of alot further than 10 stankin pips..hehe

By the way, I got 5 hours of sleep between the european session and the U.S session before I traded the U.S session.

Have a great long weekend,

CT