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  • #281
  • Mar 4, 2008 6:51pm Mar 4, 2008 6:51pm
Today was a fun day. The short that I gave earlier worked out very well.

Here is an updatedc 15 min.

This is for Alex.

This is a 15 min chart , with the linear regression channel drawn and a 1-2-3 buy trigger( low , high and higher low)

The fib extension targets for the 1-2-3 buy trigger are:

50 = 204.78
61.8 = 205.04
78.6 = 205.41
100 = 205.89
127 =206.49
161.8 = 207.26

At this point in the game and over night I would short the break down of 205 , or go long on the break out of 100 % and middle of LR channel at 206

Interesting rounded top on the 15 min and rsi sell trigger on 15 min. This could retrace.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy10.png Size: 273 KB
Blogging daily now at www.volume.zone
  • #282
  • Mar 4, 2008 8:04pm Mar 4, 2008 8:04pm
Thanks Malcolm.
I am looking at pitchfork set ups for now and will try e-signal soon.

Alexhttp://forexfactory.com/images/icons/icon14.gif
Think BIG!
  • #283
  • Edited Mar 5, 2008 12:20am Mar 4, 2008 10:25pm | Edited Mar 5, 2008 12:20am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
I think we're headed for a drop very soon. I think we have a hidden bearish divergence on RSI and it's below 50 and this is on the 4 hr chart too. I'd post a chart, but I don't know how. Can someone confirm this? I just learned hidden divergences so want to make sure I'm looking at this right. I also think I see another hidden bearish divergence on 5 min chart and 60 min chart....

Malcolmb - also question about the OR. Still reading the OR e-book, but it looks like he's taking the OR of the 1st 30 min of market opening. It looks like you're doing this for FTSE and NIKKEI, but for US you're taking the 30 minutes prior to opening. Any particular reason for this?

Update: About 1:20 AM. I see hidden bearish divergences on 240, 60, 30, and 5. Also regular bearish divergence on 5 min. Hmmm......
"Wishful thinking dies hard." Igor T.
  • #284
  • Mar 5, 2008 2:51am Mar 5, 2008 2:51am
Hi,

Just classic By the BOOK breakout scalp, Breakout, than pullback to the trendline, and than you trade....... I had to get out because of NEWS

in 204.81 out 204.61..

Piters


http://www.doske.com/fx/ew-15.png


http://www.doske.com/fx/ew-16.png
  • #285
  • Mar 5, 2008 4:33am Mar 5, 2008 4:33am
Another classic CASE:

Breakout of chanel down, supported with 1h 204.40 trendline, and also with RSI14 entering 30 line @ 2min, 5min and 15min.

Enter on retest the channel after the breakout @ 204.60
EXIT @ 205.15 close to 50EMA @ 1h


I LOVE THIS GAME

http://www.doske.com/fx/ew-17.png



http://www.doske.com/fx/ew-18.png
  • #286
  • Mar 5, 2008 5:50am Mar 5, 2008 5:50am
Quoting FxChi
I think we're headed for a drop very soon. I think we have a hidden bearish divergence on RSI and it's below 50 and this is on the 4 hr chart too. I'd post a chart, but I don't know how. Can someone confirm this? I just learned hidden divergences so want to make sure I'm looking at this right. I also think I see another hidden bearish divergence on 5 min chart and 60 min chart....

Malcolmb - also question about the OR. Still reading the OR e-book, but it looks like he's taking the OR of the 1st 30 min of market opening. It looks like you're doing this for FTSE and NIKKEI, but for US you're taking the 30 minutes prior to opening. Any particular reason for this?

Update: About 1:20 AM. I see hidden bearish divergences on 240, 60, 30, and 5. Also regular bearish divergence on 5 min. Hmmm......

If i use the open range I use it for the 1st 30 min of US open ... 6:30 am to 7am pacific
Blogging daily now at www.volume.zone
  • #287
  • Mar 5, 2008 9:35am Mar 5, 2008 9:35am
sorry late to party
I traded gold for $10 this morning
gbpjpy for 100 pips
and YM for 50 points


Been a busy morning.

The play was the break out of 206 . I mentioned this to one of the traders last night.

Tomorrow i will place the trade set ups i see 1st thing.
Blogging daily now at www.volume.zone
  • #288
  • Mar 5, 2008 9:37am Mar 5, 2008 9:37am
Quoting malcolmb14
Today was a fun day. The short that I gave earlier worked out very well.

Here is an updatedc 15 min.

This is for Alex.

This is a 15 min chart , with the linear regression channel drawn and a 1-2-3 buy trigger( low , high and higher low)

The fib extension targets for the 1-2-3 buy trigger are:

50 = 204.78
61.8 = 205.04
78.6 = 205.41
100 = 205.89
127 =206.49
161.8 = 207.26

At this point in the game and over night I would short the break down of 205 , or go long on the break out of 100 % and middle of LR channel at 206

Interesting rounded top on the 15 min and rsi sell trigger on 15 min. This could retrace.

Attachment
This is the trade.... worked out just fine
Blogging daily now at www.volume.zone
  • #289
  • Mar 5, 2008 10:03am Mar 5, 2008 10:03am
1h RSI is 70, are you expect big move down, simillar as from 213?

Just your experience with RSI?

Piters
  • #290
  • Mar 5, 2008 10:13am Mar 5, 2008 10:13am
Trade trigger short 206.89 , entry 206.79 ( only 10 pips on lower time frames)_ , covered 206.5

Long trigger 206.41 , entry 206.51 , still open target 207

In volatile times you can trade gbpjpy off a 1min

I have been playing with stochastics for confirmation of rsi. One of my trader buddies , who has 30 years in this game , said it might work really well.


Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy11.png Size: 167 KB
Blogging daily now at www.volume.zone
  • #291
  • Mar 5, 2008 10:19am Mar 5, 2008 10:19am
Quoting Piters
1h RSI is 70, are you expect big move down, simillar as from 213?

Just your experience with RSI?

Piters
Err yes

You think that is an indication of drops look at this:

4 hour

all we do is wait for confirmation of the rsi sell trigger as the stochastics cross.

Note the blue and red lines .. this is a linear regression channel. We have come form a test of the bottom to a test of the top.

The gap from Sunday ios now filled.

NEXT MOVE ???? I think down


Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy12.png Size: 184 KB
Blogging daily now at www.volume.zone
  • #292
  • Mar 5, 2008 10:27am Mar 5, 2008 10:27am
Quoting malcolmb14
Err yes

You think that is an indication of drops look at this:

4 hour

all we do is wait for confirmation of the rsi sell trigger as the stochastics cross.

Note the blue and red lines .. this is a linear regression channel. We have come form a test of the bottom to a test of the top.

The gap from Sunday ios now filled.

NEXT MOVE ???? I think down


Attachment

Yes That's what I am thinking, max 207.74 (200EMA /1h), or wave 4 Up, and then completition of all way down, maybe by 195.7 wave 5.. completition of monthly H/S ....

that's by the Book, but sometimes reality can goes strange (political desitions... )
  • #293
  • Mar 5, 2008 10:29am Mar 5, 2008 10:29am
Quoting malcolmb14
Err yes

You think that is an indication of drops look at this:

4 hour

all we do is wait for confirmation of the rsi sell trigger as the stochastics cross.

Note the blue and red lines .. this is a linear regression channel. We have come form a test of the bottom to a test of the top.

The gap from Sunday ios now filled.

NEXT MOVE ???? I think down


Attachment
Malcolm, great calls especially since you are one of the few that isn't a Monday morning quarterback.
History is written by the victors.
  • #294
  • Mar 5, 2008 10:54am Mar 5, 2008 10:54am
Nice place to start shorting Malcolm I am in from 207.66

I'll let to run. I'm off to bed//

c'ya tomorrow



http://www.doske.com/fx/ew-20.png
  • #295
  • Mar 5, 2008 11:37am Mar 5, 2008 11:37am
Quoting malcolmb14
Trade trigger short 206.89 , entry 206.79 ( only 10 pips on lower time frames)_ , covered 206.5

Long trigger 206.41 , entry 206.51 , still open target 207

In volatile times you can trade gbpjpy off a 1min

I have been playing with stochastics for confirmation of rsi. One of my trader buddies , who has 30 years in this game , said it might work really well.


Attachment
Closed 207.3 do not want to be greedy
Blogging daily now at www.volume.zone
  • #296
  • Mar 5, 2008 12:14pm Mar 5, 2008 12:14pm
I was going to say this several hours ago, but ovbiously after that last speedy move up there isn't any hidden bearish divergence that I can see.

I am still long on one minilot 209.63, but I have scalped them for 48 out 50 orders at a profit over the last 3 days or so I have been sitting with this loser.

The 240 minute chart currently shows 2 up bars in a row with a third bar looking to be working up.

Even on the daily chart it looks like the pair has bottomed out yesterday and is on its way back up strongly.

I change my long term trend to up at this point.
  • #297
  • Mar 5, 2008 12:23pm Mar 5, 2008 12:23pm
Quoting rrram2
I was going to say this several hours ago, but ovbiously after that last speedy move up there isn't any hidden bearish divergence that I can see.

I am still long on one minilot 209.63, but I have scalped them for 48 out 50 orders at a profit over the last 3 days or so I have been sitting with this loser.

The 240 minute chart currently shows 2 up bars in a row with a third bar looking to be working up.

Even on the daily chart it looks like the pair has bottomed out yesterday and is on its way back up strongly.

I change my long term trend to up at this point.

Short trigger 207.24 rsi crossing down thru 70 5 min chart , entry 207.10 , still in short target 206.5
Blogging daily now at www.volume.zone
  • #298
  • Mar 5, 2008 12:25pm Mar 5, 2008 12:25pm
Quoting rrram2
I was going to say this several hours ago, but ovbiously after that last speedy move up there isn't any hidden bearish divergence that I can see.

I am still long on one minilot 209.63, but I have scalped them for 48 out 50 orders at a profit over the last 3 days or so I have been sitting with this loser.

The 240 minute chart currently shows 2 up bars in a row with a third bar looking to be working up.

Even on the daily chart it looks like the pair has bottomed out yesterday and is on its way back up strongly.

I change my long term trend to up at this point.
Do not get married to a trade .. even 1 mini lot . .
Blogging daily now at www.volume.zone
  • #299
  • Mar 5, 2008 12:27pm Mar 5, 2008 12:27pm
Just for fun I have opened a demo account with 1 million in it.

I am going to trade this account with 100 lots.

See how long it takes me to blow it all. !!!

I will keep you all posted.

By trading partner reckons you will blow a million by scalping 100 lots. I disagree.
Blogging daily now at www.volume.zone
  • #300
  • Mar 5, 2008 12:28pm Mar 5, 2008 12:28pm
Right now I typically trade 20 lots and have NO issues with it ... took my mind and heart a while to get used to it. Imagine beign down 200 pips on a position trade on 20 lots... only 20 k lol
Blogging daily now at www.volume.zone
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