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  • #1,401
  • Jul 16, 2008 4:34pm Jul 16, 2008 4:34pm
Quoting ljr
AudNzd - Psar flipped days ago. Did you enter today?

CadJpy - Candle is green so not a valid short

Those entry figures you quote cant be correct either.

To me these two trades apear good
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audnzd.gif Size: 24 KB
Click to Enlarge Name: cadjpy.gif Size: 25 KB
  • #1,402
  • Jul 16, 2008 4:35pm Jul 16, 2008 4:35pm
Quoting BrasilForex
See AUD/NZD (sell) signal too


I'm in these two orders today

AUD/NZD (sell) SL:106.20
CAD/JPY(Sell) SL:1.2774
Hi,

Signal candle is a green bull on the Cad/Jpy so not a signal in my book and by the rules - be carefull

Paul
  • #1,403
  • Jul 16, 2008 4:44pm Jul 16, 2008 4:44pm
Quoting BrasilForex
To me these two trades apear good
Apologies regarding AudNzd I was looking at hourly chart by mistake so PSAR was completely different, however looking at the daily now the only problem I see is AC is green so this invalidates the trade as far as I understand.
  • #1,404
  • Jul 16, 2008 4:44pm Jul 16, 2008 4:44pm
Quoting demian
BrasilForex, can you post an image, showing how you set this? I understand fibo action, but not you method

Thanks!
Demian
Hope this help you
Attached Image (click to enlarge)
Click to Enlarge Name: gpbusdgif.PNG Size: 29 KB
  • #1,405
  • Jul 16, 2008 4:46pm Jul 16, 2008 4:46pm
Quoting ljr
Apologies regarding AudNzd I was looking at hourly chart by mistake so PSAR was completely different, however looking at the daily now the only problem I see is AC is green so this invalidates the trade as far as I understand.

How you can see in the image above, not red to me
  • #1,406
  • Jul 16, 2008 4:51pm Jul 16, 2008 4:51pm
Quoting BrasilForex
How you can see in the image above, not red to me
On my screen and in the image you posted for AudNzd the AC is green for the signal candle (first candle where PSAR flipped). For a short trade AC must be red.
  • #1,407
  • Jul 16, 2008 4:55pm Jul 16, 2008 4:55pm
Quoting pbalfe@tisca
Ok so am i, your experience cahnged my mind plus its a first strength trade plus the first tp & sl is 42 pips and more importantly the first T/P is above the 28ema

Gone in at 102.43
s/l 102.85
t/p 102.01

2nd trade
open 102.01
s/loss B/E (102.43)
T/P - till AO goes green

Good luck to all else who are in

Paul
As I understand the guidelines the open and sl of the 1st and 2nd lots should be the same. At 1st lot tp move 2nd lot to b/e and wait for ao to go green.

Jim
  • #1,408
  • Jul 16, 2008 4:56pm Jul 16, 2008 4:56pm
Hi Ash,

Just a quick question when you have time to answer - do you draw your fib lines from top to bottom or bottom to top

Anybody else who wants to answer are welcome because it would be interesting to see the answers

Paul
  • #1,409
  • Jul 16, 2008 5:01pm Jul 16, 2008 5:01pm
Quoting ljr
On my screen and in the image you posted for AudNzd the AC is green for the signal candle (first candle where PSAR flipped). For a short trade AC must be red.
Uderstand your question now, today AudNzd candle has green ok?
But, i will try few pips
  • #1,410
  • Jul 16, 2008 5:03pm Jul 16, 2008 5:03pm
Quoting pbalfe@tisca
Hi Ash,

Just a quick question when you have time to answer - do you draw your fib lines from top to bottom or bottom to top

Anybody else who wants to answer are welcome because it would be interesting to see the answers

Paul
The way I have learnt is:

Uptrend - Draw from swing low to swing high
Downtrend - Draw from swing high to swing low.
  • #1,411
  • Jul 16, 2008 5:03pm Jul 16, 2008 5:03pm
can someone tell me what are the official trades for today , i cant fine ashfx post ,
thanks
  • #1,412
  • Jul 16, 2008 5:05pm Jul 16, 2008 5:05pm
Quoting ljr
The way I have learnt is:

Uptrend - Draw from swing low to swing high
Downtrend - Draw from swing high to swing low.
Thanks.

Never knew that, i just draw them from botom to top in uptrend or downtrend, hmmm interesting

Anybody else ????????

paul
  • #1,413
  • Jul 16, 2008 5:12pm Jul 16, 2008 5:12pm
Quoting BrasilForex
Uderstand your question now, today AudNzd candle has green ok?
But, i will try few pips
Todays candle is not the issue and is not important. Your decision should be based on the candle where the first PSAR changed.

For AudNzd for candle of 16/07:

PSAR flipped to top - Good for short trade
Candle is red - Good for short trade
Stochs above 50 - Good for First Strength trade
AC is green - NOT Good for short trade
AO is red - Good for short trade

Only problem is AC is the wrong colour. When todays candle opened it doesn't matter what colour it is and will probably change many times as price fluctuates. Your decision should be based on the candle where the PSAR first flipped. Obviously you may want to watch the price action on the new day to make your final decision.

This is my understanding of the rules.
  • #1,414
  • Jul 16, 2008 5:27pm Jul 16, 2008 5:27pm
Quoting pbalfe@tisca
Hi Ash,
Just a quick question when you have time to answer - do you draw your fib lines from top to bottom or bottom to top
Anybody else who wants to answer are welcome because it would be interesting to see the answers
Paul

38.2% and 61.8% (basic reversal points) are symmetric. 50% will always be 50% either way.

So really it shouldn't matter how do you draw it, and many always take the 0% for swing low and 100% for swing high points, independently if we are evaluating the possible pullback from a rise or a fall.

And even "logically", you can see it both ways: for example, if price rises from, say, 1.9800 to 1.9900 and pulls back to 1.9862, it will have pulled back 38% of the total 100 pips move. So we draw it from low to high. But, it will also be at 62% of the total move, and thus we can draw it from high to low. It will depend on how you usually handle the data.

I prefer the first option (measuring from the START of the move to the END of the move), and if we want to use additional values I find it is more accurate, but I've been getting accustomed to draw it like in the second one (always the same, swing low 0% and swing high 100%) because it is much faster. Because in the end, what matters is the area where it will probably reach tp or reverse, independently of the number or name we assign to it.
  • #1,415
  • Jul 16, 2008 5:44pm Jul 16, 2008 5:44pm
Quoting pbalfe@tisca
Hi,

Signal candle is a green bull on the Cad/Jpy so not a signal in my book and by the rules - be carefull

Paul
Agree with you, Paul. It is a green candle, how can you Sell? Careful, pls.
  • #1,416
  • Jul 16, 2008 6:14pm Jul 16, 2008 6:14pm
No one answered this question I had from earlier:

About moving the SL to breakeven after the first TP is hit, I understand that. But what is the best way to proceed after that?

Is it best to leave it there until the AO changes color, (the exit price) or would it be safer to trail it down behind some level like the high (low) of the previous day's candle to lock in profits in the event that price makes a strong retracement against you?

For example, it could be possible expecially with volitile exotic crosses like GBPJPY to have moves of 500+ pip moves on the daily charts. Does it seem reasonable to leave the stop set at breakeven when the AO changes as slowly as it does?

How about it Ash?

Not criticizing the strategy, but just wondering if anyone has any thoughts on that idea.

Thanks.
  • #1,417
  • Jul 16, 2008 7:21pm Jul 16, 2008 7:21pm
Quoting BrasilForex
Hope this help you
Thank you very much BrasilForex!! Now, I know!

Demian
  • #1,418
  • Jul 16, 2008 7:33pm Jul 16, 2008 7:33pm
Hi Ash,

What is your stop loss on aud/jpy today?

Thanks
  • #1,419
  • Jul 16, 2008 10:40pm Jul 16, 2008 10:40pm
hello, the AUD/NZD insnt valid trade right? there is resistance, CMIIW
  • #1,420
  • Jul 16, 2008 11:52pm Jul 16, 2008 11:52pm
Quoting imad
can someone tell me what are the official trades for today , i cant fine ashfx post ,
thanks
AUD/JPY...Short.

Looks like you have to take time to read the threads where you stopped earlier and not just the last page

My 2 pips
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