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bringin sexy back - stochastics

  • #141
  • Edited 6:08am Jan 29, 2007 5:28am | Edited 6:08am
Looking at cable...

I am waiting to see if a candle opens above 1.9610. If it does I could get in for a few pips as it retraces, but right now I feel I should rather look to go short once we have confermation.
Based on the "stocks", we are certainly looking good to go further short?

I would appreciate any comments on this.

Thanks,
Sage

http://img227.imageshack.us/img227/7971/gbp1lh9.jpg

EDIT: I had the incorrect indicator on my chart when checking the pivot levels. Please ignore the above pivot value above it is incorrect!!! sorry about that.
  • #142
  • Jan 29, 2007 7:33am Jan 29, 2007 7:33am
yep it looks really good. but honestly price has been consolidating all day so im gonna avoid trading today i dont like how price is behaving. since ur post i think it dropped like 20-30 pips and it could drop more but ill feel better not taking the trade. just a personal choice.
  • #143
  • Jan 29, 2007 12:52pm Jan 29, 2007 12:52pm
Quoting boxingislife
yep it looks really good. but honestly price has been consolidating all day so im gonna avoid trading today i dont like how price is behaving. since ur post i think it dropped like 20-30 pips and it could drop more but ill feel better not taking the trade. just a personal choice.
yes there was nothing much to do today but lose money on false trade signal... just been able to conclude one good buy on £/Yen with 20 pips profit but the rest was losing trade including a -20 pips on £/Yen also... Should have kept out of market today like you did... Early wake up (Japan open) could have give a two good trade on on €/£ and €/$ (respectively 30 and 50 pips )
  • #144
  • Jan 29, 2007 1:13pm Jan 29, 2007 1:13pm
this is gbpjpy daily. lookin good for a move up. price consolidated. 20 and 50 moving up and overbought same with 100. 5 pulled back and crossed while price is consolidating. if this daily bar closes near the current price or a bit above then it would look really good when it comes to the 5. basically it would be moving up. my stop is about 40 pips coz i entered according to the 1h chart but this trade could bring at least 240.50-241 in the next few days if it works out. the 1h chart looked nice with 20 and 50 trending up the 5 crossed but i didnt enter the first time because of weird price action but then it crossed up again and i entered. if it breaks higher tonight ill add some more and it should be a nice move up.
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  • #145
  • Edited 1:54pm Jan 29, 2007 1:20pm | Edited 1:54pm
Quoting boxingislife
this is gbpjpy daily. lookin good for a move up. price consolidated. 20 and 50 moving up and overbought same with 100. 5 pulled back and crossed while price is consolidating. if this daily bar closes near the current price or a bit above then it would look really good when it comes to the 5. basically it would be moving up. my stop is about 40 pips coz i entered according to the 1h chart but this trade could bring at least 240.50-241 in the next few days if it works out. the 1h chart looked nice with 20 and 50 trending up the 5 crossed but i didnt enter the first time because of weird price action but then it crossed up again and i entered. if it breaks higher tonight ill add some more and it should be a nice move up.
arn't the slope of the 20/50 not very sharp ? even if they are in o/b range, shouldn't your theory apply only when the slope is rather sharpy ? Edit : btw, i must say that i really love your strategy http://melpheos1er.free.fr/forex/gpbjpy29-01-07.jpg buy entry @ 238.66 could have been a bit better...
  • #146
  • Jan 29, 2007 1:49pm Jan 29, 2007 1:49pm
the slope doesnt matter when they are o/b or o/s. this setup is called a slingshot when the longer term stoch is oversold or overbought and the short term stoch pulls back and then follows the trend. i think i posted an example or two before.
i just saw ur edit
im glad u do with some patience and some practice it can bring some nice pips
  • #147
  • Jan 29, 2007 1:57pm Jan 29, 2007 1:57pm
1h eurjpy trade. good for an easy 20-30 pips but deff worth holding for longer. since the 20 and 50 on the 4h are about to change from downtrend to uptrend and the 1h 20 and 50 are trending up and already in overbought.
enjoy
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  • #148
  • Jan 29, 2007 1:59pm Jan 29, 2007 1:59pm
Quoting boxingislife
1h eurjpy trade. good for an easy 20-30 pips but deff worth holding for longer. since the 20 and 50 on the 4h are about to change from downtrend to uptrend and the 1h 20 and 50 are trending up and already in overbought.
enjoy
i saw it this morning but though that the stoch pull back was not sufficient i guess using this signal like every other signal need experience
  • #149
  • Jan 29, 2007 2:06pm Jan 29, 2007 2:06pm
melpheos ur entry is great
i got in 1 pip below u and im glad i didnt enter till late coz all of today has been weird so i waited till later when things calmed down and started trending better.

gbpusd:

4h looked like it has formed a bottom or an end to this downtrend and the 20 and 50 are flat even if they are oversold. if price doesnt break any lower then 20 and 50 should start heading up and when they do then the 1h 20 and 50 should be trending up nicely so watch for opportunities on the 1h gbpusd in the next several hours it could bring a nice trade or 2.
same with gbpjpy on the 4h the 20 crossed its signal up and the 50 is flat so watch for opportunities there too. and the 1h chart the 20 and 50 are trending up nicely. u know the drill.
but basically watch those 2 pairs on the 4h and the 1h charts
  • #150
  • Jan 29, 2007 2:08pm Jan 29, 2007 2:08pm
Quoting melpheos
i saw it this morning but though that the stoch pull back was not sufficient i guess using this signal like every other signal need experience
well i explained before that the 5 doesnt need to pull back all the way. if price consolidates and the 5 cross then u could have a really good trade if the setup is good. so keep that in mind
  • #151
  • Edited 2:48pm Jan 29, 2007 2:20pm | Edited 2:48pm
Quoting boxingislife
well i explained before that the 5 doesnt need to pull back all the way. if price consolidates and the 5 cross then u could have a really good trade if the setup is good. so keep that in mind
about the entry point on the £/Yen we are both on, the entry point could have been much better watching the M15 which shows that we enter on high stock while a few minutes later, a low stoch shown 238.35... of course it's allways easy to say that afterward ^^ And now about the pull back to 238.50 there was sign of it on the M1 after a very long non trend around 238.85/238.87
  • #152
  • Jan 29, 2007 8:22pm Jan 29, 2007 8:22pm
Hey everyone, be very careful and patient in your trading this week. There's some major news coming out on Wed. and Fri. I'm expecting Tues. to be a slow trading day. And there's the possibility of some whipsaw action going on Wed. & Fri. Happy Pips!
  • #153
  • Edited 7:06am Jan 30, 2007 12:59am | Edited 7:06am
Quoting Tw0eleven
Hey everyone, be very careful and patient in your trading this week. There's some major news coming out on Wed. and Fri. I'm expecting Tues. to be a slow trading day. And there's the possibility of some whipsaw action going on Wed. & Fri. Happy Pips!
thanks for the hint, i'll have a look on the economical calendar

BTW here a small gift : http://www.ac-markets.com/fr/analysi...o_calendar.asp

very well done calendar

My £/Yen close at 148.90 this night by take profit with ~20 pips

Open position this morning on $/Yen sell 121.74

Edit : hmm weird, my SL @ 122 activated but this level has nether been reached this morning :-/
  • #154
  • Jan 30, 2007 3:51am Jan 30, 2007 3:51am
my gbpjpy got 125 pips. it was a good setup but because of the whipsaw all day i was really cautious about keeping the trade open so i took a bigger risk and increased my stop to 60 pips. it ended up being a good trade.
how did everyone else do?

the 1h gbpusd the 20 and 50 are trending up nicely so if we get some price consolidation and a cross up in the next few hours it could be a nice trade. watch for that.
  • #155
  • Jan 30, 2007 5:07am Jan 30, 2007 5:07am
hey boxingislife!

thanks for your gret system, i really like it. i'am reading this thread since beginning! is it possible for you to put some screens from 5-min-setups or 15-min-setups with some explanations about the stops? since yesterday i only had losing trades often because of wrong stops (too near).

thanks a lot :-)
  • #156
  • Edited Jan 31, 2007 3:45am Jan 30, 2007 12:33pm | Edited Jan 31, 2007 3:45am
Sell on EURCHF

http://melpheos1er.free.fr/forex/EURCHF-30-01-07.JPG

My TP is down below @ 16150

Did not paid, retracement failed in à 16224 out @ 16230 took small loss )

But my eurjpy paid 83 pips
  • #157
  • Jan 31, 2007 4:16am Jan 31, 2007 4:16am
fxfreak this is a gbpusd 15 min setup forming. 20 50 and 100 are below 20 and the 5 is pulling back. should be a nice trade. enter after price has consolidated for a bit or 5 to cross down. as for stops like i said before its depends on ur risk tolerance the daily average of each pair if its volatile u need bigger stops it also depends on how good the setup is if it didnt pull back much then means the trend is very strongly down so u can use a tighter stop and if u had losing trades because the stop was near then theres alot of reasons for that. u could be trading at bad times like i said trading on a 15 min chart or 5 min u gota look for the most active times. u cant trade a pair like gbpusd on 5 min chart during the asian session. itl most likely not bring any pips at all most of the time.

hope this helps a bit
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  • #158
  • Jan 31, 2007 4:21am Jan 31, 2007 4:21am
melpheos good job on ur eurjpy. and like i said losses can happen and will but u also took a really good trade and made more than what u lost probably
  • #159
  • Jan 31, 2007 6:46am Jan 31, 2007 6:46am
hi there boxingislife and everyone else . there was a situation last night (approx 8pm gmt )
where on the gbp / usd 120min charts, a long trade was available 50 & 20 pointing up and a nice deep pullback , however on the 30min charts the exact opposite was available , a short opportunity . i didnt trade , just wondered if anyone else saw it and what they did ?
  • #160
  • Jan 31, 2007 7:13am Jan 31, 2007 7:13am
Boxingislife,

As a followup on mcdonnellc Q, What do u do when there is a conflict between 2 time frames? The one hour says go long and 30 min says go short??? or 15 min is the opposit signal to the 5min?

Please help us with your input to this issue.

T.
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