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PowerTrading/The River

  • #521
  • Dec 21, 2007 10:23pm Dec 21, 2007 10:23pm
Here is an overview for next week. We've had a long run down and now it looks like we are in a range between 1.9890 and 1.9810. Not much will happen in the markets next week due to the holidays so my advice is to be very careful if you decide to enter the market. I wouldn't consider entering a trade until the high or low of the range is clearly broken.
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  • #522
  • Dec 24, 2007 7:21am Dec 24, 2007 7:21am
Merry Christmas...and merry christmas to me....because this power trading method has improved my trading greatly...thanks pt
  • #523
  • Dec 25, 2007 11:33pm Dec 25, 2007 11:33pm
Hello PT and other trader on this thread.

Please, take a look on the chart I posted below. From what I understand about this method, we open Buy or Sell according the candle open outside of the box.

From my below chart, I have some questions :
1. Is it correct the way I draw my box?
2. Is it correct if I took Sell position on the break of the box as I pointed with a line?
4. Is it correct that we also take the buy position after the break above the box?
3. If I am wrong, could someone please correct my mistakes?

Thank you for your help.
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  • #524
  • Edited 7:37pm Dec 29, 2007 7:18pm | Edited 7:37pm
Even though last week was a holiday week there were still some good trades you just had to be patient. Here is a GBP short trade I took on 24 Dec. As you can see the price action tested the 38% fib several times early in the Monday session but could not break through the 38% fib. This gave me a hint that the market might move lower if it can break the bottom of the box. Fibs are pulled from high to low on Friday. I based drawing my breakout box on the consolidation from early in the day and a strong support line @ 1.9809. I entered on the first bearish candle (red arrow) that closed below the box @ 1.9807 and exited @ 1.9765 for +42 pips.
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  • #525
  • Dec 29, 2007 7:33pm Dec 29, 2007 7:33pm
Quoting mbah_sangkil
Hello PT and other trader on this thread.

Please, take a look on the chart I posted below. From what I understand about this method, we open Buy or Sell according the candle open outside of the box.

From my below chart, I have some questions :
1. Is it correct the way I draw my box?
2. Is it correct if I took Sell position on the break of the box as I pointed with a line?
4. Is it correct that we also take the buy position after the break above the box?
3. If I am wrong, could someone please correct my mistakes?

Thank you for your help.
There was a penetration below the box before the point you are referring too. I would have pulled my lower box limit down to that point so the second penetration down would not have broken the low of the box keeping you out of this trap. If you don't get a clean break of the box and it's just a penetration pull your box down to that new low created by the penetration and wait for a clean break and close below the box before entering. Again, that is a general rule but there may be times when you have additional information based on your analysis that you would enter before a clean break of the box. Maybe PowerTrader can offer some additional advise on this situation.
  • #526
  • Jan 9, 2008 2:39pm Jan 9, 2008 2:39pm
Well i have been attempting to apply the levels to the simple moving average....but my platform is dealbook 360...made by gft...Can you guys please give me a name of a good platform to use this...

Thanks
  • #527
  • Jan 9, 2008 2:43pm Jan 9, 2008 2:43pm
Quoting jets211990
Well i have been attempting to apply the levels to the simple moving average....but my platform is dealbook 360...made by gft...Can you guys please give me a name of a good platform to use this...

Thanks
You should use the MetaTrader 4 platform. Go to the brokers section for further assistance
  • #528
  • Jan 9, 2008 3:37pm Jan 9, 2008 3:37pm
Yea i finnally got it working...and i got the cci...can you please tell me what number should i whant the cci to be if we cross the river to go long....and can you please tell when it croses to go short...


I hope you understnade... thanks in advance.
  • #529
  • Jan 9, 2008 10:08pm Jan 9, 2008 10:08pm
not sure if my boxes are drawn correctly, but there have been a few opportunities the past few days...

http://img229.imageshack.us/img229/4556/58899892ts9.jpg
CRAIGSLIST BARTERING CHAMPION
  • #530
  • Jan 14, 2008 4:12pm Jan 14, 2008 4:12pm
Hello Everyone,

I am finally back from vacation and ready to post for the New Year. I will be posting Decembers results very soon which were outstanding. In the next few days I will try to get back in the groove of posting. I have been very busy trading and planning for new things this year. I can tell you this. We started our audited account in September and after 4 months of trading, our account has grown 50%. I don't know any other investment opportunity with the potential for this kind of return.


PT
Zone Breakout Method
  • #531
  • Jan 14, 2008 4:16pm Jan 14, 2008 4:16pm
Quoting hondakorn
not sure if my boxes are drawn correctly, but there have been a few opportunities the past few days...

http://img229.imageshack.us/img229/4556/58899892ts9.jpg
Hey Hondakorn,

It looks like your boxes are drawn okay. It would be nice to see the days separated so we can tell where the trading day begins and ends. It is important to trade when there is price action and we break a point of consolidation with strong movement.

PT
Zone Breakout Method
  • #532
  • Jan 14, 2008 7:59pm Jan 14, 2008 7:59pm
Quoting PowerTrader
Hey Hondakorn,

It looks like your boxes are drawn okay. It would be nice to see the days separated so we can tell where the trading day begins and ends. It is important to trade when there is price action and we break a point of consolidation with strong movement.

PT
been waiting for you reply....thank you for your response and I look forward to a profitable 2008!!

- hondakorn
CRAIGSLIST BARTERING CHAMPION
  • #533
  • Edited 8:21am Jan 15, 2008 8:19am | Edited 8:21am
Hello everyone. PT thanks for the system it looks very interesting. I have almost finished reading the thread and have some questions. I took my first trade on G/J, I missed the initial short, but then I saw that price has stucked at the pivot, which was also the boundary of the zone, with up tails indicating selling pressure. I also saw that the bullish candle went through 23.6 Fib level, so I sold two mini lots (demo). The news moved price violently in my direction. I closed one lot +110, the other is set to +60 b/e and still running.

What I want to ask what would be the right way to draw Fib in this situation. On my first chart I cought the last move up, but I'm not sure as in this case I should have looked for long? The second chart represents yesterday move down, I think it is more correct, but it won't catch the down of today move? PT how would you have drawn the Fibs today?
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  • #534
  • Jan 29, 2008 11:17am Jan 29, 2008 11:17am
hey where is everybody?
We leave no soldier behind.
  • #535
  • Feb 1, 2008 9:35am Feb 1, 2008 9:35am
some sideways action on 15min chart gy. I cant post one bc im trading from my treo.....could be a good opportunity.....gl
CRAIGSLIST BARTERING CHAMPION
  • #536
  • Feb 2, 2008 12:14pm Feb 2, 2008 12:14pm
so what setups is everyone watching for next week?

also how is eur/jpy and aud/jpy with this system?

Hope everyone keeps this alive. I wonder how this
works with s+R lines using the forex4noobs system?

my current sr lines for gbp/jpy and important longerterm
sr areas are 207.00 210.55 211.98 213.55. of course
the noobs system uses 4hours only, but I bet the river would
work well above and below those lines. I will be pt the river
this week with mini';s
  • #537
  • Mar 17, 2008 5:24pm Mar 17, 2008 5:24pm
Currently holding position stop is 5530 lmit is 5455...what do you guys think...


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  • #538
  • Mar 18, 2008 12:53am Mar 18, 2008 12:53am
Hit my trade to the pip....Ima happy lol...
  • #539
  • Mar 18, 2008 10:47pm Mar 18, 2008 10:47pm
Iam expecting to get a bounce at this price and hopefully short the market....Green fibb 38.2.

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  • #540
  • Mar 24, 2008 6:54am Mar 24, 2008 6:54am
Jets you are the last post on this site,do you happen to know why? Where has everyone gone? What other sit does Power Trader post on?
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