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  • #501
  • Apr 7, 2008 9:33am Apr 7, 2008 9:33am
New entry
Can be to close to the R1 ?
Attached Image (click to enlarge)
Click to Enlarge Name: entry3.gif Size: 307 KB
  • #502
  • Apr 7, 2008 9:50am Apr 7, 2008 9:50am
Quoting Fernie
Hi Guys

Just wondered if any of the more experianced traders would have time to comment on my trade pls? WF, Golfer etc. - Thanks

Can't post pictures yet, but entered a buy on GBP/USD at 1.9885 at 12.54PM UK Time, stop loss at 1.9867. As price went in my favour moved stop loss to breakeven at 13.31pm and was stopped out at 13.45pm.

Would be greatful for comments on...

1) Was this a valid trade?

2) Was it managed correctly

3) I could have taken around 20-25 pips, but thought I should let it run until I had a signal or stopped?

4) Was I a victim of the 199.00 phsycological level?

I must say that for someone who has been quite a nervous trader I was v happy with the trade and always felt in control. Even though 0 pips I am happy with my first Elite trade. Will keep everyone posted.

I understand that managing trades will ultimately be down to me, but would be interested in general feedback please to ensure I am on the right track.

PLEASE NOTE I AM ONLY INTERESTED IN REPLIES USING THE WF INDICATORS/STRATEGY - THANKS

Cheers

Fernie
Hi Fernie,

A long as you pull the trigger and manage your s/l you are doing great....I would look at higher time frames to get a visual of the trend....on the 1 hr chart there was a 200 ema right on top of your trade and an S1 now acting as resistance. Also our 34 sma there too.

GBP moves very quick...u might want to start with the eur/usd or chr/usd...not as wild swings within candles.

Keep an eye on those overall trends...daily, 4hr and you'll do fine.

golfer
  • #503
  • Apr 7, 2008 11:57am Apr 7, 2008 11:57am
usd/jpy lost
-27 pips
A+
  • #504
  • Apr 7, 2008 12:11pm Apr 7, 2008 12:11pm
Quoting fxxx
Waterflame, lugging we understand as "delay", correct?
if so - price crossing ma34 before ma3 does, same with reverse and bounce of sma34 and cci zero line
or you mean price lugging compare to cci (momentum)
please, clarify
thank you
Both of your questions are possible Fx,

the help out od this, is to wait for an advertising candle and a confirmation candle trade the signals in synchronisation.
  • #505
  • Apr 7, 2008 12:13pm Apr 7, 2008 12:13pm
Quoting cmfxmen
Hello B@by

they are all indicators but I'm not convinced "Candelstick" work whitout live account...
A+
very nice entry for today Xmen,

and thank you very much for the news indicator.
  • #506
  • Apr 7, 2008 1:30pm Apr 7, 2008 1:30pm
Hi Folks !

Attached you will find an actual snapshot of USD/JPY 15min chart.
As you all can see we are in a ranging "lazy" market.
We had 4 crosses of 3 EMA with 34 SMA in between some hours
without building a new trend.

What would you guys and gals do in such an environment ?

As we know Forex market is ranging in abour 70% of the time.

Greetings and happy trading

Bernhard
Attached Image (click to enlarge)
Click to Enlarge Name: usd_jpy_15.gif Size: 16 KB
  • #507
  • Apr 7, 2008 2:00pm Apr 7, 2008 2:00pm
Hi Folks !

Attached you'll find an actual snapshot of AUD/USD 15min Chart.
I've drawn the Fib-Tool and awaiting a target at the 50% Fib-Line
after the cross of 34 SMA.

I'm still in Sell Mode because Price Action showed me a nice black
Candle before

Greetings

Bernhard
Attached Image (click to enlarge)
Click to Enlarge Name: aud_usd_15min.gif Size: 17 KB
  • #508
  • Apr 7, 2008 2:52pm Apr 7, 2008 2:52pm
Quoting behof
Hi Folks !

Attached you will find an actual snapshot of USD/JPY 15min chart.
As you all can see we are in a ranging "lazy" market.
We had 4 crosses of 3 EMA with 34 SMA in between some hours
without building a new trend.

What would you guys and gals do in such an environment ?

As we know Forex market is ranging in abour 70% of the time.

Greetings and happy trading

Bernhard
Well, as per the rules of this system we should not be trading the lazy market.

However, I am an adict. So I swichted to the 5 min tf and got some small pips.
******************************
  • #509
  • Apr 7, 2008 5:29pm Apr 7, 2008 5:29pm
Thanks for the indicator,I wish I lived in a different part of the world.It seems a lot of these moves happen when I am in bed or at work.I would have to get up at 1 am for the london.and I leave for work 1 hour before the newyork...I found when I trade after work around 4-6 pm I am getting a lot of ranging.My question is do you think this works better at different sessions?I guess the market will move when a bunch of traders are active.I have the asian session to trade,but it kinda sucks.
  • #510
  • Apr 8, 2008 4:09am Apr 8, 2008 4:09am
Quoting jlmac27
Thanks for the indicator,I wish I lived in a different part of the world.It seems a lot of these moves happen when I am in bed or at work.I would have to get up at 1 am for the london.and I leave for work 1 hour before the newyork...I found when I trade after work around 4-6 pm I am getting a lot of ranging.My question is do you think this works better at different sessions?I guess the market will move when a bunch of traders are active.I have the asian session to trade,but it kinda sucks.
Hello jlmac27

I am not a pro I no trade that for 6 months I do not know very well the movements intrinsic worked but it seems to me that it is better to return with the opening of the sessions I am in France I demarre at the end of Tokyo begin with London and continue with Newyork and it is that I do not ask this question

This indicator will give you the crossings of markets but I prefer that WF or another traderpro answers better that I in your question
A+
Here
Attached File(s)
File Type: mq4 Sessions.mq4   8 KB | 516 downloads
  • #511
  • Apr 8, 2008 4:33am Apr 8, 2008 4:33am
Hello

Hello
A protrader can he confirm me if this is pattern "Head and Shouders"
Thanks
A+
Attached Image (click to enlarge)
Click to Enlarge Name: head and shoulder.gif Size: 47 KB
  • #512
  • Apr 8, 2008 5:27am Apr 8, 2008 5:27am
Its not head & shoulders.
  • #513
  • Edited 6:52am Apr 8, 2008 5:57am | Edited 6:52am
Quoting cmfxmen
Hello

Hello
A protrader can he confirm me if this is pattern "Head and Shouders"
Thanks
A+
This is my understanding of an inverted head and shoulders on your chart. Maybe someone more experienced can correct me if I'm wrong. The normal head and shoulders would be the mirror image of this picture. I might be wrong about the take profit area on this cmfxmen. It might be enter on break to the upside and take profit on it's way up. I'll do some research and let you know what I find out. MY EXAMPLE BELOW IS INCORRECT.
Attached Image (click to enlarge)
Click to Enlarge Name: headshoulder1.gif Size: 25 KB
  • #514
  • Apr 8, 2008 5:58am Apr 8, 2008 5:58am
Quoting cmfxmen
Hello

Hello
A protrader can he confirm me if this is pattern "Head and Shouders"
Thanks
A+
  • #515
  • Apr 8, 2008 6:07am Apr 8, 2008 6:07am
Quoting cmfxmen
Hello

Hello
A protrader can he confirm me if this is pattern "Head and Shouders"
Thanks
A+
If you look well you can see that there is ALWAYS a not perfect "head and shoulder" forming, in everychart, in everytimeframe, it is the way the market move, somebody call it head and shoulder, somebody elliot wave pattern (a perfect H&S would have the end of wave5 as HEAD, the point A as neck, B as second shoulder, and C as takeprofit area. and a not perfect H&S (like that one on your chart) would have the end of wave5 as second shoulder, etc..), it is a good observation, but it's hard to understand what will be the "take profit area" of every of these non-perfect H&S, anyway good observation
  • #516
  • Edited 7:22am Apr 8, 2008 6:51am | Edited 7:22am
Quoting Kevyluvu
I'll do some research and let you know what I find out.
I was wrong. It looks like the breakout is suppose to be to the upside breaking through the neckline. Check here fx:

http://www.investopedia.com/terms/i/...dshoulders.asp

-Kevin

That example I gave above doesn't even have a defined neckline so it is a bad example. Check your inbox cmfxmen, I am sending you a .gif animation to watch with .mp3 audio file from a forex factory member I respect showing and explaining a good head and shoulders setup. Open the .gif and watch it while the .mp3 plays. If you open the files at the same time they should sinc up. It's my way of making a small file size with good quality picture like flash animation.
  • #517
  • Apr 8, 2008 8:16am Apr 8, 2008 8:16am
Inverted head and shoulders forming on GBPCHF 15 min right now guys.
  • #518
  • Apr 8, 2008 10:00am Apr 8, 2008 10:00am
Hello
Thanks to all for your assistant to define this difficult pattern I realize that it is not evident for all there is no indicator which could help to see the formation or recognition of this pattern?

Gbp/us failed ?
A+
Attached Image (click to enlarge)
Click to Enlarge Name: head and shoulder2.gif Size: 58 KB
  • #519
  • Apr 8, 2008 10:09am Apr 8, 2008 10:09am
Waterflame,
You use 10pip stop loss relative to entry, is it plus spread? Second you trail stop loss below or at SMA10 plus spread, correct? Did some testing which give loads of whipsaws especially after recent gains. Somewhat better after tank as shorts covers/create shortterm momentum
  • #520
  • Apr 8, 2008 10:16am Apr 8, 2008 10:16am
Hey guys. I wanted to share a sweet trade setup I just took on the E/J. I always look on multiple time frames to determine trends and support and resistance. With waterflame’s system I usually start by looking at the 4h to determine the strength of the overall trend.

The 4h was a bullish trend and when I saw the 1h 34 CCI coming up through the zero line as well as the 30m 34 CCI coming through the zero line I knew it was a great trade. I got in the trade a little late but I targeted 15 pips which was just shy of the R1 you see on the chart. I ended up getting out early banking 11 pips. I went in light since I don't usually trade the E/J.


Here are the charts:



http://www.fileden.com/files/2006/7/30/148326/481h.gif


You can also see the mandrake blocks all giving me a buy signal. Can you see how steep the CCI is? This is a great indication for the bullish trade. One last thing is I was above all the moving averages which is a good sign for the bulls.
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